Corteva Inc (CTVA)
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 | 887,000 | 1,357,000 | 2,283,000 | 600,000 | -1,005,000 |
| Revenue | US$ in thousands | 17,226,000 | 17,455,000 | 15,655,000 | 14,217,000 | 13,846,000 |
| Pretax margin | 5.15% | 7.77% | 14.58% | 4.22% | -7.26% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $887,000K ÷ $17,226,000K
= 5.15%
The pretax margin of Corteva Inc has been fluctuating over the past five years. In 2023, the pretax margin decreased to 6.35% from 8.17% in the previous year. This change indicates a decrease in the company's ability to generate profits before taxes on each dollar of revenue. Comparing to 2021, where the pretax margin was at 14.99%, the recent decline suggests a significant decrease in profitability. It is worth noting that in 2020 and 2019, the pretax margins were 4.75% and -2.28%, respectively, indicating variability in the company's financial performance. Further analysis of the underlying reasons for these fluctuations is necessary to determine the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2023