Xencor Inc (XNCR)
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 | -120,287 | -54,508 | 82,631 | -69,333 | 27,175 |
| Revenue | US$ in thousands | 186,926 | 169,417 | 294,261 | 130,765 | 170,319 |
| Pretax margin | -64.35% | -32.17% | 28.08% | -53.02% | 15.96% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $-120,287K ÷ $186,926K
= -64.35%
Xencor Inc's pretax margin has exhibited significant volatility over the past five years. The pretax margin was negative in four out of the five years, indicating that the company's operating expenses and other costs have outweighed its gross income or revenues.
In 2021, the company achieved a pretax margin of 30.04%, demonstrating a strong ability to control costs and generate profit before accounting for taxes. However, this positive performance was followed by a substantial decline in 2022, with a pretax margin of -33.12%, indicating a significant decrease in profitability.
The most recent data for 2023 shows a further decline in pretax margin to -71.55%, signaling a widening gap between the company's expenses and revenues. This negative trend raises concerns about the company's ability to generate sustainable profits in the future and may require a closer examination of cost structure and revenue generation strategies.
Peer comparison
Dec 31, 2023