Cavco Industries Inc (CVCO)
Pretax margin
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 199,092 | 214,670 | 246,779 | 287,881 | 306,476 | 316,744 | 299,467 | 255,686 | 211,946 | 172,911 | 140,062 | 110,710 | 96,912 | 80,796 | 79,638 | 87,297 | 92,979 | 105,425 | 97,640 | 89,902 |
| Revenue (ttm) | US$ in thousands | 1,794,792 | 1,851,054 | 1,904,888 | 2,030,250 | 2,142,713 | 2,171,812 | 2,102,923 | 1,885,074 | 1,627,158 | 1,428,181 | 1,285,239 | 1,183,672 | 1,108,051 | 1,056,884 | 1,041,834 | 1,052,533 | 1,061,774 | 1,047,552 | 1,007,530 | 980,385 |
| Pretax margin | 11.09% | 11.60% | 12.96% | 14.18% | 14.30% | 14.58% | 14.24% | 13.56% | 13.03% | 12.11% | 10.90% | 9.35% | 8.75% | 7.64% | 7.64% | 8.29% | 8.76% | 10.06% | 9.69% | 9.17% |
March 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $199,092K ÷ $1,794,792K
= 11.09%
The pretax margin of Cavco Industries Inc has exhibited fluctuations over the past several quarters. The trend shows a general increase from the fourth quarter of 2019 to the second quarter of 2020, followed by a decrease in the third and fourth quarters of 2020. From the first quarter of 2021 to the second quarter of 2023, there was a consistent upward trend in pretax margin, peaking at 14.58% in the fourth quarter of 2022. However, from the first quarter of 2023 to the first quarter of 2024, the pretax margin saw a gradual decline.
Overall, the pretax margin performance of Cavco Industries Inc indicates a mix of positive and negative trends, with some periods of strong profitability and others of lower profitability. It is essential for investors and stakeholders to monitor the trend closely to assess the company's operational efficiency and bottom-line performance.