Valvoline Inc (VVV)
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 | 1,438,800 | 1,456,800 | 1,544,800 | 1,571,700 | 423,700 | 459,000 | 445,000 | 461,500 | 460,600 | 480,200 | 484,400 | 434,500 | 432,700 | 413,000 | 291,000 | 298,000 | 271,000 | 246,000 | 265,000 | 247,000 |
| Revenue (ttm) | US$ in thousands | 1,481,500 | 1,440,900 | 1,388,900 | 1,969,700 | 2,511,200 | 3,036,400 | 2,996,200 | 2,831,200 | 2,646,200 | 2,441,200 | 2,798,000 | 2,522,000 | 2,400,000 | 2,354,000 | 2,331,000 | 2,428,000 | 2,440,000 | 2,390,000 | 2,355,000 | 2,319,000 |
| Pretax margin | 97.12% | 101.10% | 111.22% | 79.79% | 16.87% | 15.12% | 14.85% | 16.30% | 17.41% | 19.67% | 17.31% | 17.23% | 18.03% | 17.54% | 12.48% | 12.27% | 11.11% | 10.29% | 11.25% | 10.65% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,438,800K ÷ $1,481,500K
= 97.12%
The pretax margin of Valvoline Inc has shown variability over the past few quarters. In Q1 2024, the pretax margin increased significantly to 18.56%, indicating improved profitability before taxes. This positive trend follows a relatively lower pretax margin of 16.38% in Q4 2023.
However, in Q2 2023, the company experienced a notable decline with a negative pretax margin of -15.17%, which may raise concerns about operational efficiency and cost management during that period. The subsequent improvement to 5.35% in Q1 2023 suggests some recovery.
Looking back further, Q4 2022 and Q3 2022 had pretax margins of 11.66% and 15.78%, respectively, showing fluctuations in profitability. Q2 2022 and Q1 2022 displayed relatively stable pretax margins of 16.52% and 16.27%, indicating consistent performance during these periods.
Overall, the data reveals some volatility in Valvoline Inc's pretax margin in recent quarters, signaling variations in the company's ability to generate profits before taxes. Monitoring and analyzing these fluctuations can provide valuable insights into the company's financial performance and efficiency.
Peer comparison
Dec 31, 2023