LCI Industries (LCII)

Pretax margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	83,004	525,455	382,044	209,481	191,414
Revenue	US$ in thousands	3,784,810	5,207,140	4,472,700	2,796,170	2,371,480
Pretax margin		2.19%	10.09%	8.54%	7.49%	8.07%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $83,004K ÷ $3,784,810K
= 2.19%

The pretax margin for LCI Industries has fluctuated over the past five years, ranging from a low of 2.19% in 2023 to a high of 10.09% in 2022. This indicates that the company's pre-tax profitability relative to its total revenue has varied significantly. The declining trend from 2022 to 2023 suggests a decrease in the company's ability to generate profits before taxes on a percentage basis. It would be important to further investigate the factors contributing to this decline in pretax margin in more recent years to understand the underlying reasons for the change in profitability.