O-I Glass Inc (OI)
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 | 49,000 | 762,000 | 316,000 | 338,000 | -282,000 |
| Revenue | US$ in thousands | 6,759,000 | 6,615,000 | 6,138,000 | 6,097,000 | 6,375,000 |
| Pretax margin | 0.72% | 11.52% | 5.15% | 5.54% | -4.42% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $49,000K ÷ $6,759,000K
= 0.72%
The pretax margin of O-I Glass Inc has fluctuated notably over the past five years. In 2019, the company reported a negative pretax margin of -4.42%, indicating that its expenses exceeded its revenues before accounting for taxes. However, in the following years, there was a significant improvement in the company's profitability, with pretax margins of 5.54% in 2020, 5.15% in 2021, and 11.52% in 2022.
The most recent data for the year ended December 31, 2023, shows a pretax margin of 0.72%. While this represents a decline from the previous year, it is important to assess the overall trend and the factors contributing to this change. Further analysis is required to determine the reasons behind the fluctuation in O-I Glass Inc's pretax margin and evaluate its implications for the company's financial performance and operational efficiency.