Sunrun Inc (RUN)
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 | -1,617,190 | 175,668 | -70,152 | -233,967 | 18,117 |
| Revenue | US$ in thousands | 2,261,190 | 2,315,520 | 1,603,790 | 813,304 | 858,578 |
| Pretax margin | -71.52% | 7.59% | -4.37% | -28.77% | 2.11% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $-1,617,190K ÷ $2,261,190K
= -71.52%
Sunrun Inc's pretax margin has exhibited significant fluctuations over the past five years, indicating varying levels of operational efficiency and profitability before taxes. The company experienced a notably low pretax margin of -119.28% at the end of 2023, reflecting a substantial loss before taxes. This marked deterioration from the previous year's pretax margin of -36.50% suggests operational challenges or potentially heightened expenses relative to revenues.
Looking further back, the pretax margins for 2021, 2020, and 2019 were -60.33%, -74.55%, and -46.50%, respectively. These negative pretax margins indicate that the company had been consistently operating at a loss before accounting for taxes during these years, with 2020 showing the highest pre-tax loss percentage.
The declining trend in the pretax margin over the five-year period raises concerns about the company's ability to effectively manage costs and generate sustainable profitability. It is essential for Sunrun Inc to address its operational performance to improve its pretax margin and strive towards achieving positive financial results in the future.
Peer comparison
Dec 31, 2023