Enpro Industries (NPO)
Pretax margin
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 53,000 | 175,700 | 188,700 | 255,000 | 229,500 | 194,300 | 199,800 | 188,000 | 191,200 | 75,200 | 6,700 | -28,100 | 175,100 | 183,400 | 208,000 | 245,300 | 34,800 | 22,400 | 49,300 | 30,500 |
| Revenue (ttm) | US$ in thousands | 1,013,100 | 1,047,200 | 1,078,000 | 1,139,100 | 1,189,800 | 1,130,600 | 1,139,000 | 1,108,000 | 1,061,700 | 1,115,600 | 1,100,800 | 1,049,300 | 1,052,000 | 1,071,900 | 1,180,600 | 1,324,500 | 1,406,800 | 1,501,700 | 1,516,900 | 1,523,500 |
| Pretax margin | 5.23% | 16.78% | 17.50% | 22.39% | 19.29% | 17.19% | 17.54% | 16.97% | 18.01% | 6.74% | 0.61% | -2.68% | 16.64% | 17.11% | 17.62% | 18.52% | 2.47% | 1.49% | 3.25% | 2.00% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $53,000K ÷ $1,013,100K
= 5.23%
Enpro Inc's pretax margin has exhibited significant variability over the past eight quarters. In Q4 2023, the pretax margin was 3.56%, indicating that the company retained approximately 3.56 cents out of every dollar of revenue before accounting for taxes.
The trend in pretax margin shows inconsistency, with negative margins observed in Q3 2023 (-4.04%) and Q2 2023 (-2.68%). These negative margins suggest that Enpro Inc experienced challenges in generating profits before tax during these periods.
Comparing the recent pretax margin figures to those of the same quarter in the previous year, there appears to be volatility as well as a decline in profitability. For instance, in Q4 2022, the pretax margin was higher at 2.57% compared to Q4 2023.
The quarterly fluctuations in pretax margin may be indicative of varying operational performance, cost management efficiency, or economic conditions affecting Enpro Inc. Further analysis and investigation into the company's financial and operational activities are recommended to understand the drivers behind the fluctuating pretax margin and to identify opportunities for improvement.