Commercial Metals Company (CMC)

Pretax margin

		Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	635,671	739,829	889,592	1,008,163	1,121,967	1,222,680	1,317,629	1,591,885	1,515,147	1,369,283	1,132,847	710,399	534,324	427,685	347,640	346,985	371,979	388,798	407,755	353,103
Revenue (ttm)	US$ in thousands	7,878,080	8,095,050	8,364,790	8,536,410	8,759,370	9,226,700	9,389,600	9,361,170	9,117,680	8,467,780	7,801,570	7,252,900	6,656,150	6,046,880	5,534,950	5,430,800	5,429,840	5,563,710	5,833,520	5,888,080
Pretax margin		8.07%	9.14%	10.63%	11.81%	12.81%	13.25%	14.03%	17.01%	16.62%	16.17%	14.52%	9.79%	8.03%	7.07%	6.28%	6.39%	6.85%	6.99%	6.99%	6.00%

August 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $635,671K ÷ $7,878,080K
= 8.07%

The pretax margin of Commercial Metals Company has exhibited variability over the historical periods provided. The trend shows a general decline from a high of 17.01% in November 2022 to a low of 6.00% in November 2019. However, there has been some fluctuation in recent periods, with the pretax margin ranging from 8.07% to 12.81% in the most recent months. This indicates that the company's ability to generate profits before accounting for taxes has shown some improvement from the lowest point but has not yet reached the levels seen in the past. The management may seek to sustain and further enhance the pretax margin through strategies aimed at cost control, revenue optimization, and efficiency improvements.