Woodward Inc (WWD)
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 | 353,739 | 275,768 | 235,497 | 180,046 | 193,901 | 199,898 | 203,159 | 211,570 | 235,961 | 245,799 | 252,887 | 239,205 | 267,917 | 281,881 | 290,378 | 337,676 | 320,645 | 320,612 | 323,024 | 285,127 |
| Revenue (ttm) | US$ in thousands | 3,033,346 | 2,865,507 | 2,731,573 | 2,548,442 | 2,427,467 | 2,353,549 | 2,281,598 | 2,224,172 | 2,218,179 | 2,214,167 | 2,184,932 | 2,152,575 | 2,292,043 | 2,474,487 | 2,679,760 | 2,904,004 | 2,938,143 | 2,866,041 | 2,848,863 | 2,687,895 |
| Pretax margin | 11.66% | 9.62% | 8.62% | 7.06% | 7.99% | 8.49% | 8.90% | 9.51% | 10.64% | 11.10% | 11.57% | 11.11% | 11.69% | 11.39% | 10.84% | 11.63% | 10.91% | 11.19% | 11.34% | 10.61% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $353,739K ÷ $3,033,346K
= 11.66%
Woodward Inc's pretax margin has been fluctuating over the past several quarters. The pretax margin for Q1 2024 improved to 11.48%, showing a positive trend compared to the previous quarters. Q4 2023 had a pretax margin of 9.46%, reflecting a slight decrease from Q3 2023, which stood at 8.48%. The pretax margin in Q2 2023 was 6.95%, representing a decrease from the previous quarter.
In comparison to the same quarter in the previous year, Q1 2024 showed an improvement in pretax margin, as it was higher than the 7.88% pretax margin in Q1 2023. Q4 2023 and Q3 2023 also had higher pretax margins than the those of the same quarters in 2022, which were 8.39% and 8.78% respectively.
Overall, Woodward Inc's pretax margin has shown variability, but the positive trend in Q1 2024 suggests an improvement in the company's profitability before tax. It would be important for stakeholders to monitor future quarters to assess the company's ability to sustain and potentially improve its pretax margin over time.