CMS Energy Corporation (CMS)
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 | 1,034,000 | 851,000 | 848,000 | 771,000 | 930,000 | 1,382,000 | 1,413,000 | 1,449,000 | 1,448,000 | 989,000 | 1,032,000 | 994,000 | 873,000 | 876,000 | 867,000 | 820,000 | 811,000 | 748,000 | 701,000 | 752,000 |
| Revenue (ttm) | US$ in thousands | 7,462,000 | 7,790,000 | 8,141,000 | 8,506,000 | 8,596,000 | 8,351,000 | 8,052,000 | 7,690,000 | 7,329,000 | 7,023,000 | 6,805,000 | 6,629,000 | 6,418,000 | 6,486,000 | 6,525,000 | 6,588,000 | 6,845,000 | 6,879,000 | 6,932,000 | 6,979,000 |
| Pretax margin | 13.86% | 10.92% | 10.42% | 9.06% | 10.82% | 16.55% | 17.55% | 18.84% | 19.76% | 14.08% | 15.17% | 14.99% | 13.60% | 13.51% | 13.29% | 12.45% | 11.85% | 10.87% | 10.11% | 10.78% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,034,000K ÷ $7,462,000K
= 13.86%
CMS Energy Corporation's pretax margin has shown fluctuations over the past eight quarters. The pretax margin in Q4 2023 was 12.78%, indicating that the company generated approximately $0.1278 in pretax profit for every dollar of revenue. This represented an increase from the previous quarter's pretax margin of 10.54% in Q3 2023.
The pretax margin has generally been trending upward from Q1 2022 to Q4 2023, with some minor fluctuations along the way. The highest pretax margin was recorded in Q4 2023 at 12.78%, while the lowest was in Q1 2023 at 8.76%. Overall, the trend suggests an improvement in the company's efficiency in generating earnings before taxes relative to its revenue over the analyzed period. It would be important to further investigate the factors driving these changes to determine the sustainability and underlying reasons for the fluctuations observed in the pretax margin.
Peer comparison
Dec 31, 2023