Titan International Inc (TWI)

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 104,768 135,733 166,322 212,858 199,442 192,210 154,170 67,216 50,762 19,270 -9,602 -11,865 -53,464 -62,940 -67,677 -74,256 -44,933 -32,041 -9,825 9,918
Revenue (ttm) US$ in thousands 1,783,068 1,913,292 2,040,465 2,131,996 2,134,021 2,121,127 2,038,908 1,900,559 1,762,714 1,611,529 1,464,134 1,321,222 1,231,573 1,201,559 1,240,856 1,334,958 1,427,099 1,488,712 1,531,408 1,568,067
Pretax margin 5.88% 7.09% 8.15% 9.98% 9.35% 9.06% 7.56% 3.54% 2.88% 1.20% -0.66% -0.90% -4.34% -5.24% -5.45% -5.56% -3.15% -2.15% -0.64% 0.63%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $104,768K ÷ $1,783,068K
= 5.88%

The pretax margin of Titan International, Inc. has shown fluctuations over the past eight quarters. In Q1 2023, the company achieved a pretax margin of 10.02%, indicating that for every dollar of revenue, the company earned 10.02 cents before taxes. This represented a significant improvement compared to the previous quarters. However, in Q2 and Q3 2023, the pretax margin declined to 8.22% and 7.23% respectively, reflecting a decrease in profitability.

Throughout the previous year, the pretax margin ranged from a low of 3.54% in Q1 2022 to a high of 9.33% in Q4 2022. The deceleration in Q1 2022 may have raised concerns about the company's operational efficiency and cost control measures.

Overall, the pretax margin of Titan International, Inc. has exhibited variability, indicating the need for continuous monitoring of the company's financial performance and a focus on improving operational effectiveness to sustain and enhance profitability.


Peer comparison

Dec 31, 2023