Analog Devices Inc (ADI)

Pretax margin

		Feb 3, 2024	Oct 28, 2023	Jul 29, 2023	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 30, 2021	Oct 31, 2020	Aug 1, 2020	May 2, 2020	Feb 1, 2020	Nov 2, 2019	Aug 3, 2019	May 4, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	3,047,945	3,607,997	4,084,221	4,057,337	3,848,662	3,098,747	1,894,570	1,618,911	1,215,651	1,328,714	1,902,191	1,702,942	1,522,018	1,311,617	1,182,134	1,198,663	1,311,999	1,485,728	1,607,237	1,648,185
Revenue (ttm)	US$ in thousands	11,300,180	12,053,800	12,591,670	12,643,210	12,366,050	11,809,200	10,683,340	9,383,500	8,122,390	7,048,520	6,456,420	6,153,710	5,809,360	5,554,460	5,469,200	5,493,200	5,702,740	5,940,280	6,144,430	6,236,970
Pretax margin		26.97%	29.93%	32.44%	32.09%	31.12%	26.24%	17.73%	17.25%	14.97%	18.85%	29.46%	27.67%	26.20%	23.61%	21.61%	21.82%	23.01%	25.01%	26.16%	26.43%

February 3, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $3,047,945K ÷ $11,300,180K
= 26.97%

Analog Devices Inc.'s pretax margin has shown fluctuations over the past eight quarters. In Q1 2024, the pretax margin stood at 26.35%, slightly lower than the previous quarter at 29.32%. The company experienced a peak in Q3 2023 with a pretax margin of 31.82%, which decreased slightly in Q4 2023 to 31.53%. Over the past two years, there has been a general upward trend in pretax margin, with considerable improvement from the low points seen in Q2 and Q3 of 2022, where the pretax margin was at 17.06% and 16.60% respectively. Overall, Analog Devices Inc. has shown a strong performance in managing its operating expenses in relation to its revenue, but the recent slight decline in pretax margin warrants continued monitoring to assess any potential impacts on the company's profitability.