Cleveland-Cliffs Inc (CLF)
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 | 547,000 | 477,000 | 346,000 | 650,000 | 1,758,000 | 3,060,000 | 4,506,000 | 4,749,000 | 3,761,000 | 2,705,000 | 1,065,000 | -80,000 | -233,000 | -225,700 | -98,000 | 233,800 | 311,000 | 372,800 | 715,400 | 695,900 |
| Revenue (ttm) | US$ in thousands | 21,996,000 | 21,928,000 | 21,976,000 | 22,329,000 | 22,989,000 | 23,291,000 | 23,642,000 | 22,350,000 | 20,444,000 | 17,354,000 | 12,996,000 | 9,044,000 | 5,354,000 | 3,632,100 | 2,541,700 | 2,191,900 | 1,989,900 | 2,152,100 | 2,338,300 | 2,309,400 |
| Pretax margin | 2.49% | 2.18% | 1.57% | 2.91% | 7.65% | 13.14% | 19.06% | 21.25% | 18.40% | 15.59% | 8.19% | -0.88% | -4.35% | -6.21% | -3.86% | 10.67% | 15.63% | 17.32% | 30.59% | 30.13% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $547,000K ÷ $21,996,000K
= 2.49%
The pretax margin of Cleveland-Cliffs Inc has shown a declining trend over the past eight quarters. In Q4 2023, the pretax margin decreased to 2.71% from 2.37% in Q3 2023. This downward trend is consistent with the gradual decrease in pretax margin observed since Q1 2022, where the margin was at its highest at 21.42%.
The declining pretax margin may indicate challenges in controlling operating expenses or a decrease in revenue generation efficiency. Further analysis is required to identify the specific factors contributing to this trend and assess the company's overall financial performance and profitability.
Peer comparison
Dec 31, 2023