Enovis Corp (ENOV)
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 | -46,550 | -40,406 | -110,415 | -23,063 | 22,832 | -2,649 | 95,489 | 47,704 | 59,263 | 57,080 | 71,606 | 8,600 | 290 | 22,224 | -2,378 | -427,265 | -495,969 | -483,474 | -454,498 | 36,193 |
| Revenue (ttm) | US$ in thousands | 1,686,970 | 1,644,437 | 1,618,961 | 1,609,752 | 2,233,580 | 2,223,925 | 2,803,536 | 3,374,247 | 3,230,088 | 3,659,152 | 3,499,192 | 3,133,624 | 3,070,769 | 3,131,020 | 3,171,608 | 3,459,895 | 3,327,458 | 3,424,311 | 3,101,814 | 2,754,024 |
| Pretax margin | -2.76% | -2.46% | -6.82% | -1.43% | 1.02% | -0.12% | 3.41% | 1.41% | 1.83% | 1.56% | 2.05% | 0.27% | 0.01% | 0.71% | -0.07% | -12.35% | -14.91% | -14.12% | -14.65% | 1.31% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-46,550K ÷ $1,686,970K
= -2.76%
To analyze Enovis Corp's pre-tax margin based on the data provided, we observed a fluctuating trend over the past eight quarters. In Q4 2023, the pre-tax margin was -3.93%, representing an improvement from the previous quarter's -15.11%. However, this figure remains negative, indicating that the company's expenses exceeded its earnings before taxes in this period.
Looking at the broader trend, the pre-tax margin has been progressively declining from positive figures in Q2 and Q3 of 2022 to negative values in the subsequent quarters. The steepest decline occurred from Q2 to Q3 of 2023, where the margin dropped from 7.18% to -15.11%.
Enovis Corp's pre-tax margin in the most recent quarter, Q4 2023, though improved, still lags behind the positive margins seen in earlier periods. This suggests that the company may be facing challenges in controlling its operating costs or generating sufficient revenues to offset expenses. Further analysis of the company's cost structure and revenue streams would be necessary to determine the underlying factors driving these fluctuations in pre-tax margin.
Peer comparison
Dec 31, 2023