VF Corporation (VFC)
Pretax margin
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | -233,685 | -40,045 | 481,398 | 43,623 | 43,287 | 430,806 | 616,218 | 1,281,885 | 1,693,922 | 1,639,228 | 1,404,202 | 1,179,674 | 509,435 | 2,228 | 139,919 | 386,811 | 777,511 | 1,301,602 | 1,306,585 | 1,329,748 |
| Revenue (ttm) | US$ in thousands | 10,184,130 | 10,558,980 | 11,142,770 | 11,214,850 | 11,421,180 | 11,537,730 | 11,647,950 | 11,764,430 | 11,695,020 | 11,354,050 | 10,739,450 | 10,184,120 | 9,100,770 | 8,757,870 | 8,941,450 | 9,514,190 | 10,488,550 | 10,743,540 | 10,571,120 | 10,393,120 |
| Pretax margin | -2.29% | -0.38% | 4.32% | 0.39% | 0.38% | 3.73% | 5.29% | 10.90% | 14.48% | 14.44% | 13.08% | 11.58% | 5.60% | 0.03% | 1.56% | 4.07% | 7.41% | 12.12% | 12.36% | 12.79% |
March 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-233,685K ÷ $10,184,130K
= -2.29%
VF Corporation's pretax margin has fluctuated over the past several quarters. The company experienced negative pretax margins in the first and fourth quarters of fiscal year 2024, which may indicate challenges in generating profits prior to accounting for taxes. However, in previous quarters, the pretax margin had shown a positive trend, with higher margins in the second and third quarters of fiscal year 2022.
It is important to note that pretax margin is a critical metric for evaluating a company's operational efficiency and profitability. A higher pretax margin suggests that the company is effectively managing its expenses and generating healthy profits before taxes. In contrast, a lower or negative pretax margin could indicate inefficiencies in cost management or difficulties in generating adequate revenue.
Overall, VF Corporation's pretax margin trend warrants further analysis to understand the underlying factors driving the fluctuations and to assess the company's financial health and performance over time.
Peer comparison
Mar 31, 2024