Civitas Resources Inc (CIVI)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	999,454	995,998	1,368,768	1,806,403	1,653,853	1,509,771	1,023,898	366,894	251,731	15,776	-32,550	-35,733	42,981	84,092	112,056	191,980	106,436	111,338	118,808	82,645
Revenue (ttm)	US$ in thousands	3,296,241	3,066,349	3,106,445	3,597,935	3,775,144	3,476,852	2,665,287	1,674,922	923,213	476,935	347,546	228,560	215,005	232,434	248,784	298,938	311,230	297,776	323,327	310,341
Pretax margin		30.32%	32.48%	44.06%	50.21%	43.81%	43.42%	38.42%	21.91%	27.27%	3.31%	-9.37%	-15.63%	19.99%	36.18%	45.04%	64.22%	34.20%	37.39%	36.75%	26.63%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $999,454K ÷ $3,296,241K
= 30.32%

Civitas Resources Inc's pre-tax margin has displayed fluctuations over the past eight quarters. The company achieved a high pre-tax margin of 49.77% in Q1 2023, indicating strong profitability before accounting for taxes. However, this figure dropped to 28.73% in Q4 2023, suggesting a significant decline in profitability within a year.

The pre-tax margin has generally been above 30% in recent quarters, showcasing consistent profitability levels. Q2 and Q3 2022 stood out with pre-tax margins of 43.29% and 38.36%, respectively, indicating stable financial performance during that period.

It is worth noting that Q1 2022 exhibited a relatively low pre-tax margin of 21.92%, signifying a potential challenge in profitability compared to subsequent quarters. Overall, Civitas Resources Inc's pre-tax margin demonstrates variability but generally maintains healthy levels, reflecting varying degrees of profitability over the past eight quarters.