Matador Resources Company (MTDR)

Pretax margin

		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	Jun 30, 2020	Mar 31, 2020
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	1,177,686	1,212,872	1,157,588	1,072,805	1,032,100	1,054,822	1,228,007	1,557,713	1,613,563	1,566,855	1,312,269	871,845	659,678	279,982	-166,512	-741,005	-638,804	-512,904	-205,894	306,955
Revenue (ttm)	US$ in thousands	3,504,981	3,370,744	3,243,255	3,034,202	2,806,785	2,678,128	2,746,762	3,052,609	3,058,025	2,916,908	2,548,331	1,961,828	1,662,981	1,320,858	1,051,893	757,386	862,126	926,566	1,002,582	1,181,366
Pretax margin		33.60%	35.98%	35.69%	35.36%	36.77%	39.39%	44.71%	51.03%	52.76%	53.72%	51.50%	44.44%	39.67%	21.20%	-15.83%	-97.84%	-74.10%	-55.36%	-20.54%	25.98%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,177,686K ÷ $3,504,981K
= 33.60%

Matador Resources Company's pretax margin has shown significant fluctuations over the past several periods. The pretax margin was relatively healthy at 25.98% as of March 31, 2020, but then sharply declined to negative figures in subsequent quarters, reaching a low of -97.84% by March 31, 2021.

However, there was a noticeable turnaround in the company's performance, with the pretax margin steadily improving from negative territories to positive levels in the following periods. By December 31, 2021, the pretax margin had recovered to 39.67%, and it continued to rise, reaching 53.72% as of September 30, 2022.

Despite some fluctuations in the interim periods, the pretax margin generally remained above 30% from December 31, 2022, to June 30, 2024, indicating improved profitability and efficiency in the company's operations. The pretax margin stood at 33.60% as of December 31, 2024.

Overall, Matador Resources Company experienced a significant improvement in its pretax margin over the reviewed periods, demonstrating a positive trend towards enhanced profitability and financial performance.