CNH Industrial N.V. (CNH)

Pretax margin

Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Earnings before tax but after interest (EBT) (ttm) US$ in thousands 2,061,000 2,418,000 2,788,000 2,965,000 3,046,000 3,056,000 2,934,000 2,771,000 2,313,000 1,967,000 2,033,000 2,065,000 2,095,000 736,000 204,000 -408,000 -631,000 477,000 716,000 1,151,000
Revenue (ttm) US$ in thousands 21,752,000 23,084,000 24,163,000 24,687,000 24,838,000 24,733,000 24,248,000 23,551,000 36,020,000 34,885,000 33,977,000 33,428,000 22,665,000 24,411,000 24,815,000 26,180,000 25,226,000 25,094,000 27,083,000 28,079,000
Pretax margin 9.47% 10.47% 11.54% 12.01% 12.26% 12.36% 12.10% 11.77% 6.42% 5.64% 5.98% 6.18% 9.24% 3.02% 0.82% -1.56% -2.50% 1.90% 2.64% 4.10%

September 30, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,061,000K ÷ $21,752,000K
= 9.47%

The pretax margin of CNH Industrial N.V. has shown fluctuations over the past several quarters. The trend indicates some variability in the company's ability to generate profits before taxes relative to its revenue during this period.

The pretax margin started at 4.10% in December 2019 and increased to a peak of 12.36% in June 2023. However, there was a significant decline in the pretax margin in the subsequent quarters, reaching -2.50% in December 2020, before recovering to 12.01% in December 2023.

The latest reported pretax margin of 9.47% as of September 2024 reflects a decrease from the previous quarter. This indicates that the company's profitability before taxes has slightly weakened, albeit still relatively strong compared to some earlier periods.

Overall, while the pretax margin has exhibited fluctuations over the analyzed period, it is important for CNH Industrial N.V. to maintain a sustainable level of profitability to support its operations and maintain investor confidence in the long term.


Peer comparison

Sep 30, 2024

Company name
Symbol
Pretax margin
CNH Industrial N.V.
CNH
9.47%
Astec Industries Inc
ASTE
3.20%
Caterpillar Inc
CAT
19.56%