Insteel Industries Inc (IIIN)

Pretax margin

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	41,755	161,727	86,103	24,170	7,455
Revenue	US$ in thousands	649,188	826,832	590,601	472,618	455,713
Pretax margin		6.43%	19.56%	14.58%	5.11%	1.64%

September 30, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $41,755K ÷ $649,188K
= 6.43%

The pretax margin of Insteel Industries, Inc. has varied over the past five years, with a noticeable decrease in 2020 followed by a significant increase in 2022. In 2023, the pretax margin stands at 6.43%, down from 19.56% in 2022. This decline may indicate a decrease in the company's ability to generate profits before accounting for taxes. Further analysis of the company's operating expenses, cost of goods sold, and pricing strategies may be warranted to understand the factors driving these changes in pretax margin.

Peer comparison

Sep 30, 2023

Company name

Symbol

Pretax margin

Insteel Industries Inc

IIIN

6.43%

Gibraltar Industries Inc

ROCK

10.81%

Haynes International Inc

HAYN

8.92%

Worthington Industries Inc

WOR

6.77%

Worthington Steel Inc

6.30%