Vector Group Ltd (VGR)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 248,452 | 220,562 | 282,270 | 147,059 | 132,059 |
| Revenue | US$ in thousands | 1,424,270 | 1,441,010 | 1,220,700 | 1,228,680 | 1,119,600 |
| Pretax margin | 17.44% | 15.31% | 23.12% | 11.97% | 11.80% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $248,452K ÷ $1,424,270K
= 17.44%
The pretax margin of Vector Group Ltd has shown fluctuating trends over the past five years. In 2023, the pretax margin increased to 17.44%, representing the highest level among the years analyzed. This improvement from the prior year's 15.31% indicates enhanced efficiency in controlling operating expenses relative to revenue. The company also demonstrated a notable pretax margin in 2021 at 17.20%, aligning with the performance of 2023. However, in 2020 and 2019, the pretax margins were significantly lower at 6.73% and 7.03%, respectively. These lower margins suggest challenges in managing costs and generating profits during those years. Overall, the upward trend in recent years indicates potential improvements in the company's operational efficiency and profitability.
Peer comparison
Dec 31, 2023