California Resources Corp (CRC)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 748,000 | 761,000 | 216,000 | -27,000 | 328,000 |
| Revenue | US$ in thousands | 2,801,000 | 2,707,000 | 1,889,000 | 2,634,000 | 3,064,000 |
| Pretax margin | 26.70% | 28.11% | 11.43% | -1.03% | 10.70% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $748,000K ÷ $2,801,000K
= 26.70%
The pretax margin of California Resources Corporation has exhibited fluctuations over the past three years. In 2023, the pretax margin stood at 26.70%, showing a decrease from the previous year's margin of 28.11%. However, when compared to the 12.12% pretax margin reported in 2021, there has been significant improvement in the company's profitability before tax expenses. The trend suggests that the company's ability to generate earnings before income taxes has been fairly strong, although subject to variability. It is essential for stakeholders to further investigate the factors contributing to these changes to gain a deeper understanding of the company's financial performance.
Peer comparison
Dec 31, 2023