Matson Inc (MATX)

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	373,000	1,352,300	1,171,300	259,000	107,800
Revenue	US$ in thousands	3,081,800	4,326,500	3,903,500	2,353,100	2,182,000
Pretax margin		12.10%	31.26%	30.01%	11.01%	4.94%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $373,000K ÷ $3,081,800K
= 12.10%

The pretax margin of Matson Inc has shown fluctuations over the past five years. In 2023, the pretax margin decreased to 12.05% from 31.14% in 2022, which indicates a significant decline in profitability before tax. This could be attributed to various factors such as changes in operating expenses, interest expenses, or fluctuating revenues.

Compared to 2021 where the pretax margin was 29.84%, the decline in 2023 is even more pronounced, suggesting a potential decline in operational efficiency or overall financial performance. The pretax margin in 2020 was notably lower at 10.87%, indicating a substantial improvement in profitability in 2023 compared to that year.

Furthermore, looking back to 2019, the pretax margin was only 4.89%, indicating a substantial improvement in profitability in 2023 compared to five years ago.

Overall, while the pretax margin for Matson Inc declined in 2023 compared to the previous year, the company has shown variability in profitability before tax over the analyzed period, reflecting changes in its financial performance and efficiency in managing costs and generating income.