Titan International Inc (TWI)
Pretax margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 8,271 | 29,697 | 59,362 | 81,812 | 109,748 | 140,364 | 170,142 | 216,740 | 202,353 | 194,852 | 156,839 | 68,482 | 51,040 | 16,616 | -12,642 | -14,870 | -58,131 | -66,310 | -71,178 | -78,410 |
| Revenue (ttm) | US$ in thousands | 1,845,937 | 1,852,563 | 1,806,359 | 1,755,365 | 1,821,800 | 1,941,367 | 2,070,308 | 2,162,027 | 2,169,380 | 2,147,290 | 2,066,950 | 1,932,694 | 1,780,215 | 1,619,447 | 1,473,837 | 1,321,331 | 1,259,313 | 1,234,195 | 1,275,328 | 1,379,792 |
| Pretax margin | 0.45% | 1.60% | 3.29% | 4.66% | 6.02% | 7.23% | 8.22% | 10.02% | 9.33% | 9.07% | 7.59% | 3.54% | 2.87% | 1.03% | -0.86% | -1.13% | -4.62% | -5.37% | -5.58% | -5.68% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $8,271K ÷ $1,845,937K
= 0.45%
The pretax margin of Titan International Inc has shown a fluctuating trend over the analyzed period. The company started with negative margins in the range of -5% to -1% in the first half of 2021, indicating operational challenges and possibly inefficient cost management.
From the second half of 2021 to the first quarter of 2022, there was a significant improvement in pretax margin, climbing to 3.54%. This uptrend continued into the first half of 2022, with pretax margins reaching 7.59% and 9.07% in the second and third quarters, respectively.
However, in the last two quarters of 2022 and throughout 2023, Titan International Inc experienced a slight decline in pretax margin, falling to around 6%. This was followed by a more noticeable decrease in the second quarter of 2024, dropping to 3.29%, and a further decline to 0.45% by the end of 2024.
Overall, while the company demonstrated an ability to improve profitability significantly in certain periods, there were challenges in maintaining those levels consistently. It is important for Titan International Inc to focus on sustaining the positive momentum in pretax margin to ensure long-term financial health and stability.
Peer comparison
Dec 31, 2024