Par Pacific Holdings Inc (PARR)

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	613,342	364,899	-80,276	-429,786	-28,891
Revenue	US$ in thousands	8,174,410	7,264,530	4,643,600	3,054,650	5,326,680
Pretax margin		7.50%	5.02%	-1.73%	-14.07%	-0.54%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $613,342K ÷ $8,174,410K
= 7.50%

Par Pacific Holdings Inc's pretax margin has shown an improving trend over the past five years. The company's pretax margin was negative in 2020 and 2021, but it turned positive in 2022 and further increased in 2023. This indicates that the company has been able to manage its expenses more effectively and generate higher profits before taxes in recent years. The pretax margin of 7.45% in 2023 demonstrates the company's ability to control costs and increase profitability. Overall, the improving trend in the pretax margin suggests a positive trajectory for Par Pacific Holdings Inc's financial performance.