CNH Industrial N.V. (CNH)
Pretax margin
| Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,457,000 | 1,793,000 | 2,095,000 | 2,479,000 | 2,703,000 | 2,851,000 | 2,919,000 | 2,834,000 | 2,682,000 | 2,153,000 | 1,825,000 | 1,914,000 | 1,964,000 | 2,095,000 | 736,000 | 204,000 | -408,000 | -631,000 | 477,000 | 716,000 |
| Revenue (ttm) | US$ in thousands | 19,839,000 | 21,755,000 | 23,090,000 | 24,170,000 | 24,694,000 | 24,848,000 | 24,740,000 | 24,277,000 | 23,578,000 | 25,704,000 | 24,569,000 | 23,636,000 | 23,088,000 | 22,665,000 | 24,411,000 | 24,815,000 | 26,180,000 | 25,226,000 | 25,094,000 | 27,083,000 |
| Pretax margin | 7.34% | 8.24% | 9.07% | 10.26% | 10.95% | 11.47% | 11.80% | 11.67% | 11.38% | 8.38% | 7.43% | 8.10% | 8.51% | 9.24% | 3.02% | 0.82% | -1.56% | -2.50% | 1.90% | 2.64% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,457,000K ÷ $19,839,000K
= 7.34%
The pretax margin of CNH Industrial N.V. has shown fluctuating trends over the reported periods. It started at a relatively low level of 2.64% on March 31, 2020, decreased to 1.90% by June 30, 2020, and turned negative at -2.50% on September 30, 2020 and -1.56% on December 31, 2020.
However, the pretax margin started to improve from March 31, 2021, reaching 11.80% by June 30, 2023, with some minor fluctuations in between. Notably, the margin exhibited a strong performance in the latter part of 2022 and continued to be above double digits, registering 10.95% on December 31, 2023. Although there was a slight decrease in the following periods, the margin remained relatively high, declining to 7.34% by December 31, 2024.
Overall, the pretax margin of CNH Industrial N.V. has shown volatility over the reporting periods, with significant improvements followed by some fluctuations in profitability. An upward trend was observed from 2021 to mid-2023, indicating enhanced operational efficiency and profitability, which then stabilized at a relatively lower level towards the end of the reporting period.
Peer comparison
Dec 31, 2024