Fulgent Genetics Inc (FLGT)
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 | -166,671 | 185,505 | 682,159 | 286,842 | -368 |
| Revenue | US$ in thousands | 289,213 | 618,968 | 992,584 | 421,712 | 32,528 |
| Pretax margin | -57.63% | 29.97% | 68.73% | 68.02% | -1.13% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $-166,671K ÷ $289,213K
= -57.63%
The pretax margin of Fulgent Genetics Inc has shown significant variability over the past five years. In 2023, the company experienced a negative pretax margin of -60.19%, indicating that its operating expenses and interest payments exceeded its revenues. This represents a considerable decline from the previous year when the pretax margin was 29.73%.
In 2021 and 2020, the company exhibited strong profitability with pretax margins of 68.61% and 69.05% respectively, showcasing efficient cost management and revenue generation. However, in 2019, the pretax margin was negative at -1.13%, implying operational inefficiencies or financial challenges during that period.
The fluctuation in pretax margins suggests that Fulgent Genetics Inc may have experienced varying levels of success in managing its costs, generating revenues, and effectively utilizing its resources over the years. Further analysis of the company's financial performance and operational strategies would be beneficial to understand the factors influencing these fluctuations in pretax margin.
Peer comparison
Dec 31, 2023