Chevron Corp (CVX)
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 | 29,542,000 | 49,531,000 | 21,575,000 | -7,435,000 | 5,615,000 |
| Revenue | US$ in thousands | 200,949,000 | 246,252,000 | 162,465,000 | 94,692,000 | 146,516,000 |
| Pretax margin | 14.70% | 20.11% | 13.28% | -7.85% | 3.83% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $29,542,000K ÷ $200,949,000K
= 14.70%
Chevron Corp.'s pretax margin has exhibited variability over the past five years. The pretax margin for 2023 stands at 15.02%, showing a decrease from the previous year's level of 21.07%. In 2021, the company reported a pretax margin of 13.91%, which was an improvement over the negative pretax margin of -7.89% in 2020. The most significant increase in pretax margin was seen in 2020 compared to the positive pretax margin of 3.96% in 2019. Overall, Chevron Corp.'s pretax margin has fluctuated, with a mix of positive and negative trends in recent years, indicating varying levels of profitability before accounting for taxes.
Peer comparison
Dec 31, 2023