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 | ||
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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