Nucor Corp (NUE)
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 | 5,884,766 | 6,356,980 | 7,107,280 | 8,507,620 | 9,772,540 | 11,227,690 | 11,782,640 | 10,419,400 | 8,905,940 | 6,178,643 | 3,666,266 | 1,861,891 | 720,980 | 682,037 | 782,617 | 1,134,660 | 1,683,040 | 2,374,225 | 2,905,313 | 3,279,724 |
Revenue (ttm) | US$ in thousands | 34,713,500 | 35,732,930 | 37,458,000 | 39,729,240 | 41,512,560 | 43,153,000 | 42,965,400 | 39,960,060 | 36,483,900 | 31,379,560 | 25,994,320 | 21,532,470 | 20,139,670 | 20,011,360 | 20,547,900 | 22,116,580 | 22,588,860 | 23,752,990 | 25,030,690 | 25,595,470 |
Pretax margin | 16.95% | 17.79% | 18.97% | 21.41% | 23.54% | 26.02% | 27.42% | 26.07% | 24.41% | 19.69% | 14.10% | 8.65% | 3.58% | 3.41% | 3.81% | 5.13% | 7.45% | 10.00% | 11.61% | 12.81% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $5,884,766K ÷ $34,713,500K
= 16.95%
The pretax margin of Nucor Corp. has exhibited a declining trend over the past eight quarters, dropping from 27.03% in Q1 2022 to 18.07% in Q4 2023. This indicates a decrease in the company's ability to generate profits before accounting for taxes and reflects potential challenges in maintaining operational efficiency and controlling costs. The downward trajectory may raise concerns about the company's overall profitability and financial performance, highlighting the need for management to assess and address factors impacting the pretax margin.
Peer comparison
Dec 31, 2023
Company name
Symbol
Pretax margin
Nucor Corp
NUE
16.95%
Carpenter Technology Corporation
CRS
7.67%
Commercial Metals Company
CMC
10.63%
Metallus Inc
MTUS
8.01%
Steel Dynamics Inc
STLD
17.11%
SunCoke Energy Inc
SXC
4.51%
Titan International Inc
TWI
5.88%
United States Steel Corporation
X
5.80%