Adobe Systems Incorporated (ADBE)

Pretax margin

		Mar 1, 2024	Dec 1, 2023	Sep 1, 2023	Mar 3, 2023	Dec 2, 2022	Sep 2, 2022	Jun 3, 2022	Mar 4, 2022	Dec 3, 2021	Sep 3, 2021	Jun 4, 2021	Mar 5, 2021	Nov 27, 2020	Aug 28, 2020	May 29, 2020	Feb 28, 2020	Nov 29, 2019	Aug 30, 2019	May 31, 2019	Mar 1, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	6,117,000	6,666,000	6,314,000	6,063,000	6,008,000	5,959,000	5,921,000	5,815,000	5,705,000	5,434,000	5,076,000	4,690,000	4,176,000	3,937,000	3,712,000	3,423,000	3,206,000	2,947,115	2,813,473	2,793,272
Revenue (ttm)	US$ in thousands	19,775,000	19,118,000	18,503,000	17,999,000	17,606,000	17,191,000	16,693,000	16,142,000	15,785,000	15,099,000	14,389,000	13,682,000	12,868,000	12,436,000	12,045,000	11,661,000	11,171,000	10,643,620	10,100,700	9,552,060
Pretax margin		30.93%	34.87%	34.12%	33.69%	34.12%	34.66%	35.47%	36.02%	36.14%	35.99%	35.28%	34.28%	32.45%	31.66%	30.82%	29.35%	28.70%	27.69%	27.85%	29.24%

March 1, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $6,117,000K ÷ $19,775,000K
= 30.93%

The pretax margin of Adobe Systems Incorporated has shown some fluctuations over the past few quarters. The trend indicates that the company's ability to generate profits before taxes relative to its total revenue has varied.

From March 1, 2019, to December 1, 2023, the pretax margin has generally been above 30%, indicating a healthy profitability level. There was a slight decrease in the pretax margin in the most recent quarter, from 34.87% on December 1, 2023, to 30.93% on March 1, 2024. This could suggest potential challenges in managing costs or changes in revenue streams.

Overall, Adobe Systems Incorporated has maintained a strong pretax margin, which signifies efficient cost management and effective revenue generation. It would be essential for investors and stakeholders to monitor future financial performance to assess whether the recent decrease in pretax margin is a temporary fluctuation or a more sustained trend.