MaxLinear Inc (MXL)
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 | -238,698 | -240,526 | -199,546 | -162,980 | -63,776 | 19,568 | 105,680 | 154,292 | 174,245 | 162,010 | 138,476 | 87,357 | 47,879 | -9,402 | -69,307 | -87,047 | -114,860 | -96,846 | -62,741 | -43,376 |
| Revenue (ttm) | US$ in thousands | 360,528 | 393,714 | 448,142 | 540,090 | 693,263 | 858,496 | 1,008,696 | 1,104,767 | 1,120,252 | 1,077,555 | 1,021,599 | 946,966 | 892,398 | 839,225 | 766,084 | 625,928 | 478,596 | 353,898 | 277,285 | 294,572 |
| Pretax margin | -66.21% | -61.09% | -44.53% | -30.18% | -9.20% | 2.28% | 10.48% | 13.97% | 15.55% | 15.03% | 13.55% | 9.22% | 5.37% | -1.12% | -9.05% | -13.91% | -24.00% | -27.37% | -22.63% | -14.73% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-238,698K ÷ $360,528K
= -66.21%
MaxLinear Inc's pretax margin demonstrates a fluctuating trend over the period from March 31, 2020, to December 31, 2024. The company started with negative pretax margins, showing operational inefficiencies and challenges in generating profits before taxes. However, there was a trend of improvement from March 31, 2021, to December 31, 2022, where pretax margins turned positive, indicating better cost management and revenue generation.
During the first two quarters of 2023, the pretax margin remained relatively stable at around 10-15%, reflecting a period of operational consistency and profitability. However, this positive trend reversed sharply towards the end of 2023, with pretax margins dipping into negative territory once again.
The most significant decline in pretax margin was observed in the second half of 2024, where the margin plummeted from around -9% to -66.21% by December 31, 2024. This substantial deterioration may suggest challenges such as increased costs, reduced revenues, or other operational issues impacting the company's profitability.
In summary, MaxLinear Inc's pretax margin exhibited a mix of positive and negative trends over the period under review, reflecting the company's varying performance in managing expenses and generating income before accounting for taxes.
Peer comparison
Dec 31, 2024