Campbell’s Co (CPB)
Pretax margin
| Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Jul 28, 2024 | Apr 30, 2024 | Apr 28, 2024 | Jan 31, 2024 | Jan 28, 2024 | Oct 31, 2023 | Oct 29, 2023 | Jul 31, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 31, 2023 | Jan 29, 2023 | Oct 31, 2022 | Oct 30, 2022 | Jul 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 796,000 | 606,000 | 519,000 | 454,000 | 352,000 | 629,000 | 906,000 | 1,034,000 | 1,162,000 | 1,116,000 | 1,070,000 | 968,000 | 963,000 | 1,043,000 | 1,208,000 | 1,390,000 | 1,210,000 | 1,149,000 | 1,003,000 | 890,000 |
| Revenue (ttm) | US$ in thousands | 10,253,000 | 10,225,000 | 10,043,000 | 9,727,000 | 9,324,000 | 9,487,000 | 9,650,000 | 9,799,000 | 9,948,000 | 9,560,000 | 9,172,000 | 8,883,000 | 8,850,000 | 9,267,000 | 9,774,000 | 10,120,000 | 9,622,000 | 9,267,000 | 8,822,000 | 8,456,000 |
| Pretax margin | 7.76% | 5.93% | 5.17% | 4.67% | 3.78% | 6.63% | 9.39% | 10.55% | 11.68% | 11.67% | 11.67% | 10.90% | 10.88% | 11.25% | 12.36% | 13.74% | 12.58% | 12.40% | 11.37% | 10.53% |
July 31, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $796,000K ÷ $10,253,000K
= 7.76%
The pretax margin of Campbell’s Co demonstrates notable fluctuations over the specified period, reflecting changes in profitability before taxes. Beginning in July 2022, the pretax margin stood at approximately 10.53%, gradually rising through late 2022 and early 2023, reaching a peak of approximately 13.74% in January 2023. This trend indicates an improvement in profitability relative to sales during that period.
Subsequently, the margin experienced a decline from the peak, with values decreasing to roughly 10.88% by July 2023 and remaining relatively stable through late October 2023 at approximately 10.90%. In early 2024, the pretax margin maintained a level around 11.67%, but then declined sharply to a low of about 3.78% in July 2024. This significant drop may reflect extraordinary expenses, margin compression, or operational challenges encountered during this period.
Following this low point, the pretax margin showed signs of modest recovery, increasing to approximately 4.67% by October 2024, and continuing to trend upward in early 2025, reaching about 7.76% in July 2025. Overall, the pretax margin indicates periods of both strengthening and weakening profitability, with a notable decline in mid-2024 followed by gradual recovery in subsequent months. The fluctuations suggest a degree of volatility in the company’s profitability before taxes over the analyzed timeframe.