Fulgent Genetics Inc (FLGT)
Pretax margin
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
Earnings before tax but after interest (EBT) | US$ in thousands | -51,956 | -174,085 | 184,025 | 104,339 | 291,684 |
Revenue | US$ in thousands | 283,470 | 289,213 | 618,968 | 992,584 | 421,712 |
Pretax margin | -18.33% | -60.19% | 29.73% | 10.51% | 69.17% |
December 31, 2024 calculation
Pretax margin = EBT ÷ Revenue
= $-51,956K ÷ $283,470K
= -18.33%
The pretax margin is a key financial metric that indicates the efficiency with which Fulgent Genetics Inc is able to generate profits before accounting for taxes.
Looking at the trend over the past five years, we observe a significant fluctuation in the pretax margin. In December 2020, the pretax margin stood impressively high at 69.17%, showcasing strong profitability. However, this margin experienced a sharp decline in the following years, dropping to 10.51% by December 2021.
Subsequently, there was a notable improvement in the pretax margin, which increased to 29.73% by December 2022. However, the company faced challenges in the subsequent years as the pretax margin turned negative, indicating that Fulgent Genetics Inc incurred losses before taxes.
By December 2024, the pretax margin stood at -18.33%, signifying a further decrease in profitability and highlighting potential financial difficulties. Overall, while the company demonstrated strong profitability in 2020, it faced significant challenges in maintaining its profitability in the subsequent years, ultimately leading to negative pretax margins in 2023 and 2024.
Peer comparison
Dec 31, 2024