Flowserve Corporation (FLS)
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 | 205,313 | 199,787 | 205,017 | 188,905 | 145,048 | 101,992 | 101,177 | 92,847 | 123,357 | 162,140 | 198,055 | 160,590 | 191,787 | 224,462 | 231,362 | 297,162 | 317,080 | 300,259 | 261,159 | 211,504 |
| Revenue (ttm) | US$ in thousands | 4,268,876 | 4,144,376 | 3,927,236 | 3,733,520 | 3,569,619 | 3,458,369 | 3,447,565 | 3,461,678 | 3,466,525 | 3,532,325 | 3,590,953 | 3,618,040 | 3,668,956 | 3,751,856 | 3,826,408 | 3,891,483 | 3,924,802 | 3,843,502 | 3,791,118 | 3,772,349 |
| Pretax margin | 4.81% | 4.82% | 5.22% | 5.06% | 4.06% | 2.95% | 2.93% | 2.68% | 3.56% | 4.59% | 5.52% | 4.44% | 5.23% | 5.98% | 6.05% | 7.64% | 8.08% | 7.81% | 6.89% | 5.61% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $205,313K ÷ $4,268,876K
= 4.81%
Flowserve Corp.'s pretax margin has demonstrated a positive trend over the past eight quarters, reflecting improving profitability. The company's pretax margin increased from 4.27% in Q4 of 2022 to 5.18% in Q4 of 2023, indicating enhanced operational efficiency and cost management. This rise was sustained in subsequent quarters, with the pretax margin fluctuating between 5.17% and 5.49% in the following quarters.
The Q2 2023 pretax margin peak of 5.49% suggests that Flowserve Corp. effectively managed its costs and increased its profitability during that period. Despite a slight decline in Q3 2023, the pretax margin remained relatively stable above 5%.
Comparing the latest year-on-year data, the pretax margin has significantly improved from 2.91% in Q1 2022 to 5.18% in Q4 2023, showcasing a substantial enhancement in the company's profitability over this period. This upward trajectory indicates a positive outlook for Flowserve Corp.'s financial performance and potential for sustained profitability in the future.
Peer comparison
Dec 31, 2023