EMCOR Group Inc (EME)
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 | 872,518 | 754,770 | 668,423 | 611,717 | 558,750 | 527,496 | 516,614 | 512,593 | 529,134 | 523,372 | 521,451 | 264,455 | 252,326 | 235,757 | 214,087 | 455,245 | 450,889 | 440,674 | 436,306 | 416,523 |
| Revenue (ttm) | US$ in thousands | 12,582,870 | 12,093,470 | 11,712,230 | 11,374,000 | 11,076,120 | 10,766,490 | 10,461,800 | 10,192,080 | 9,903,580 | 9,544,880 | 9,224,920 | 8,801,270 | 8,797,050 | 8,919,500 | 9,005,530 | 9,315,710 | 9,174,610 | 8,999,980 | 8,759,290 | 8,388,980 |
| Pretax margin | 6.93% | 6.24% | 5.71% | 5.38% | 5.04% | 4.90% | 4.94% | 5.03% | 5.34% | 5.48% | 5.65% | 3.00% | 2.87% | 2.64% | 2.38% | 4.89% | 4.91% | 4.90% | 4.98% | 4.97% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $872,518K ÷ $12,582,870K
= 6.93%
The pretax margin of Emcor Group, Inc. has shown a fluctuating trend in recent quarters. In Q4 2023, the pretax margin improved to 6.94%, higher than the previous quarter's 6.24%, indicating stronger profitability before taxes. This positive trend aligns with the gradual improvement seen since Q1 2023 when the pretax margin was 5.38%.
Comparing Q4 2023 to the same quarter in the previous year, there is a noticeable increase from 5.04% to 6.94%. This suggests that Emcor Group has been more efficient in managing its expenses and generating higher earnings before taxes over the year.
Analyzing further, the pretax margin in Q2 and Q3 of 2022 was relatively stable around 4.94% and 4.90%, respectively. The increase in the pretax margin since then indicates an overall positive trend in the company's financial performance and efficiency in managing costs.
Overall, the pretax margin of Emcor Group has shown a favorable upward trajectory, reflecting improvements in profitability and cost management. It demonstrates the company's ability to generate higher earnings relative to its total revenue before accounting for taxes, indicating better operational efficiency and financial performance over the quarters analyzed.
Peer comparison
Dec 31, 2023