Dril-Quip Inc (DRQ)
Pretax margin
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 13,468 | 10,689 | 27,127 | 18,147 | 6,770 | -67,734 | -87,255 | -98,520 | -125,050 | -65,101 | -60,313 | -52,714 | -62,049 | -43,177 | -39,021 | -27,160 | 10,429 | -93,313 | -107,801 | -114,225 |
| Revenue (ttm) | US$ in thousands | 424,060 | 394,530 | 365,427 | 369,798 | 362,070 | 343,168 | 338,024 | 324,843 | 322,945 | 332,267 | 340,565 | 350,214 | 364,973 | 386,193 | 403,125 | 416,487 | 414,806 | 403,687 | 388,717 | 379,770 |
| Pretax margin | 3.18% | 2.71% | 7.42% | 4.91% | 1.87% | -19.74% | -25.81% | -30.33% | -38.72% | -19.59% | -17.71% | -15.05% | -17.00% | -11.18% | -9.68% | -6.52% | 2.51% | -23.12% | -27.73% | -30.08% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $13,468K ÷ $424,060K
= 3.18%
The pretax margin of Dril-Quip, Inc. has shown significant fluctuations in recent quarters. In Q4 2023, the pretax margin improved to 3.18%, indicating that the company generated $0.0318 in pretax profit for every dollar of revenue. This increase from the previous quarter suggests improved cost management or operational efficiency.
Compared to the same quarter in the previous year, the pretax margin has shown a notable improvement, as the Q4 2023 figure of 3.18% is substantially higher than the Q4 2022 figure of 1.87%. This suggests that the company has enhanced its profitability over the year.
However, it is essential to note the variation in the pretax margin throughout the year, with fluctuations ranging from negative figures to positive figures. For example, the pretax margin was negative in Q3 2022 (-19.18%) and continued to improve steadily throughout 2023, peaking at 7.42% in Q2 2023. This volatility could indicate potential challenges in maintaining consistent profitability levels.
Overall, while the recent uptrend in the pretax margin is positive for Dril-Quip, Inc., further analysis and monitoring of the company's financial performance are necessary to understand the factors driving these fluctuations and ensure sustained profitability in the future.
Peer comparison
Dec 31, 2023