Coterra Energy Inc (CTRA)

Pretax margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	2,128,000	5,169,000	1,502,000	242,000	900,000
Revenue	US$ in thousands	5,914,000	9,051,000	3,449,000	1,466,000	2,066,000
Pretax margin		35.98%	57.11%	43.55%	16.51%	43.56%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $2,128,000K ÷ $5,914,000K
= 35.98%

Coterra Energy Inc's pretax margin has fluctuated over the past five years, ranging from a low of 16.44% in 2020 to a high of 57.11% in 2022. The company experienced a significant increase in pretax margin in 2022, followed by a notable decline in 2023. The pretax margin for 2023 stands at 35.98%, indicating a moderate profitability level before taxes. Further analysis of the company's financial performance and cost management strategies would be necessary to understand the factors driving these fluctuations in pretax margin.