CMS Energy Corporation (CMS)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 1,034,000 | 930,000 | 1,448,000 | 870,000 | 811,000 |
| Revenue | US$ in thousands | 7,462,000 | 8,596,000 | 7,329,000 | 6,418,000 | 6,624,000 |
| Pretax margin | 13.86% | 10.82% | 19.76% | 13.56% | 12.24% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $1,034,000K ÷ $7,462,000K
= 13.86%
The pretax margin of CMS Energy Corporation has shown fluctuations over the past five years. In 2023, the pretax margin increased to 12.78% from 10.49% in 2022 but was lower than the margin of 13.25% in 2020. Despite this increase, the pretax margin for 2023 remains relatively consistent with the margins reported in 2019 and 2021, which were 12.11% and 11.23%, respectively. This indicates that the company has been able to maintain a relatively stable level of profitability before taxes in recent years, with some fluctuations in performance. The upward trend in 2023 suggests potential improvement in the company's cost management or revenue generation strategies. Further analysis would be necessary to determine the specific factors driving these changes in pretax margin.
Peer comparison
Dec 31, 2023