Frontdoor Inc (FTDR)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 228,000 | 224,000 | 168,000 | 118,000 | 93,000 | 92,000 | 154,000 | 165,000 | 167,000 | 162,000 | 126,000 | 138,000 | 149,000 | 172,000 | 189,000 | 203,000 | 204,000 | 203,000 | 186,000 |
| Revenue (ttm) | US$ in thousands | 1,780,000 | 1,754,000 | 1,714,000 | 1,678,000 | 1,662,000 | 1,661,000 | 1,648,000 | 1,623,000 | 1,601,000 | 1,585,000 | 1,554,000 | 1,509,000 | 1,474,000 | 1,451,000 | 1,418,000 | 1,389,000 | 1,366,000 | 1,345,000 | 1,315,000 |
| Pretax margin | 12.81% | 12.77% | 9.80% | 7.03% | 5.60% | 5.54% | 9.34% | 10.17% | 10.43% | 10.22% | 8.11% | 9.15% | 10.11% | 11.85% | 13.33% | 14.61% | 14.93% | 15.09% | 14.14% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $228,000K ÷ $1,780,000K
= 12.81%
Frontdoor Inc.'s pretax margin has shown fluctuations over the past eight quarters. The Q4 2023 pretax margin increased to 12.75%, maintaining a relatively stable level compared to Q3 2023 at 12.77%. Prior to this, in Q2 2023, the pretax margin decreased to 9.74% from the previous quarter's 7.03%. The company experienced a notable improvement in pretax margin in Q1 2023 at 7.03%, up from 5.66% in Q4 2022.
Looking further back, the pretax margin in Q4 2022 was 5.66%, which was a slight increase from Q3 2022 at 5.54%. Frontdoor Inc. demonstrated a significant decline in Q2 2022 with a pretax margin of 9.34%, compared to 10.04% in Q1 2022.
Overall, Frontdoor Inc.'s pretax margin has shown variability over the past eight quarters, with some quarters experiencing improvement while others showing decline. It would be important for stakeholders to closely monitor the company's performance and assess the factors impacting these fluctuations in pretax margin.
Peer comparison
Dec 31, 2023