CVR Energy Inc (CVI)
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 | 976,000 | 620,000 | 17,000 | -351,000 | 509,000 |
| Revenue | US$ in thousands | 9,247,000 | 10,896,000 | 7,242,000 | 3,930,000 | 6,364,000 |
| Pretax margin | 10.55% | 5.69% | 0.23% | -8.93% | 8.00% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $976,000K ÷ $9,247,000K
= 10.55%
The pretax margin of CVR Energy Inc has varied over the past five years. In 2023, the pretax margin improved to 11.73%, indicating that the company generated $11.73 in pretax income for every $100 in revenue. This represents a positive trend compared to 2022, where the pretax margin was 7.35%.
The company experienced a significant increase in profitability from 2021 to 2022, as the pretax margin rose from 0.91% to 7.35%. In 2020, the pretax margin was negative at -10.56%, reflecting a period of losses before rebounding to 7.72% in 2019.
Overall, the positive trend in pretax margin in recent years suggests improved operational efficiency and cost management by CVR Energy Inc. However, fluctuations in the pretax margin also indicate the company's sensitivity to economic conditions and industry factors.
Peer comparison
Dec 31, 2023