Innovex International, Inc (INVX)
Pretax margin
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 151,012 | 126,163 | 88,193 | 66,487 | -17,271 | -9,073 | 13,468 | 8,775 | 27,134 | 18,154 | 6,777 | -65,813 | -87,255 | -98,520 | -125,050 | -65,101 | -60,313 | -52,714 | -62,049 | -43,178 |
| Revenue (ttm) | US$ in thousands | 867,153 | 763,261 | 633,143 | 508,800 | 474,227 | 443,492 | 424,060 | 394,530 | 365,427 | 369,798 | 362,070 | 343,168 | 338,024 | 324,843 | 322,945 | 332,267 | 340,565 | 350,214 | 364,973 | 386,192 |
| Pretax margin | 17.41% | 16.53% | 13.93% | 13.07% | -3.64% | -2.05% | 3.18% | 2.22% | 7.43% | 4.91% | 1.87% | -19.18% | -25.81% | -30.33% | -38.72% | -19.59% | -17.71% | -15.05% | -17.00% | -11.18% |
June 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $151,012K ÷ $867,153K
= 17.41%
The pretax margin of Innovex International, Inc. exhibits a significant turnaround over the observed period. Between September 30, 2020, and June 30, 2021, the company's pretax margins remained negative, indicating consistent pre-tax losses, with values ranging from approximately -11.18% to -19.59%. The margin deteriorated further into late 2021, reaching a trough of approximately -38.72% at December 31, 2021, reflecting increased operational challenges or higher expenses relative to revenue.
From early 2022, there was a notable improvement, with the pretax margin turning positive for the first time since 2020 at December 31, 2022, reaching 1.87%. This positive trend continued into 2023, with margins rising progressively to a peak of 17.41% by June 2025. Throughout this period, the margins demonstrated a consistent upward trajectory, indicative of improved profitability and effective cost management or revenue growth.
In the more recent quarter, ending September 30, 2024, the pretax margin stood at approximately 13.07%, maintaining a healthy positive position. The subsequent quarters showed a slight fluctuation but generally sustained positive margins, reaching around 17.41% by June 2025. The overall trend suggests that Innovex International, Inc. has transitioned from a period of sustained losses into stable, positive profitability, reflecting favorable operational improvements and possibly strategic repositioning in its business operations.
Peer comparison
Jun 30, 2025