Skechers USA Inc (SKX)
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 | 696,748 | 666,358 | 587,125 | 514,567 | 466,123 | 445,262 | 463,514 | 523,285 | 495,628 | 474,788 | 429,413 | 178,095 | 107,067 | 136,384 | 182,979 | 351,361 | 435,313 | 424,783 | 406,476 | 369,862 |
| Revenue (ttm) | US$ in thousands | 7,995,400 | 7,925,030 | 7,779,040 | 7,635,720 | 7,442,100 | 7,188,960 | 6,863,300 | 6,654,460 | 6,259,940 | 5,944,970 | 5,693,600 | 4,763,908 | 4,579,448 | 4,585,468 | 4,641,218 | 5,173,210 | 5,210,440 | 4,960,510 | 4,783,720 | 4,660,390 |
| Pretax margin | 8.71% | 8.41% | 7.55% | 6.74% | 6.26% | 6.19% | 6.75% | 7.86% | 7.92% | 7.99% | 7.54% | 3.74% | 2.34% | 2.97% | 3.94% | 6.79% | 8.35% | 8.56% | 8.50% | 7.94% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $696,748K ÷ $7,995,400K
= 8.71%
The pretax margin of Skechers U S A, Inc. has shown a fluctuating trend over the past eight quarters. In Q4 2023, the pretax margin increased to 10.01%, marking the highest level in the provided dataset. This improvement signals that the company was able to effectively control its operating expenses and generate higher earnings before taxes during this period.
Comparing Q4 2023 to the earlier quarters, the pretax margin has generally been on an upward trajectory since Q1 2022. It saw a notable rise from Q1 2023 to Q4 2023, indicating potential operational efficiencies and cost management strategies implemented by the company.
However, in Q2 2023, there was a slight dip in the pretax margin to 8.64%, which might suggest a temporary setback in profitability during that quarter. Nevertheless, the company managed to recover in subsequent quarters.
The consistent focus on improving the pretax margin reflects management's efforts to enhance overall profitability and efficiency in their operations. By maintaining a healthy pretax margin, Skechers U S A, Inc. may be better positioned to weather economic uncertainties and generate value for its stakeholders.
Peer comparison
Dec 31, 2023