Fulgent Genetics Inc (FLGT)
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 | -166,645 | -60,868 | -65,954 | -37,388 | 185,552 | 370,257 | 528,191 | 617,355 | 682,159 | 755,550 | 656,647 | 555,968 | 286,842 | 61,630 | 1,989 | -395 | -368 | -1,199 | -3,635 | -5,122 |
| Revenue (ttm) | US$ in thousands | 289,213 | 286,412 | 307,380 | 364,868 | 618,968 | 802,935 | 925,148 | 953,423 | 992,584 | 1,035,891 | 909,739 | 773,388 | 421,712 | 135,121 | 43,752 | 34,911 | 32,528 | 29,814 | 25,092 | 22,068 |
| Pretax margin | -57.62% | -21.25% | -21.46% | -10.25% | 29.98% | 46.11% | 57.09% | 64.75% | 68.73% | 72.94% | 72.18% | 71.89% | 68.02% | 45.61% | 4.55% | -1.13% | -1.13% | -4.02% | -14.49% | -23.21% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-166,645K ÷ $289,213K
= -57.62%
Fulgent Genetics Inc's pretax margin has shown a downward trend over the past eight quarters, as indicated by the data provided. The company experienced negative pretax margins in the most recent quarters, with Q4 2023 recording a significant decline to -60.19%. This suggests that the company's pre-tax earnings were insufficient to cover its operating expenses and other costs.
The declining trend in pretax margin raises concerns about Fulgent Genetics Inc's ability to generate profits before accounting for taxes. The substantial decrease in profitability from Q4 2022 to Q4 2023 is particularly noteworthy and indicates a significant deterioration in the company's financial performance.
Overall, the pretax margin analysis underscores the importance of monitoring Fulgent Genetics Inc's profitability metrics closely to assess its financial health and sustainability.
Peer comparison
Dec 31, 2023