Align Technology Inc (ALGN)

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	641,204	599,057	1,012,420	378,949	555,123
Revenue	US$ in thousands	3,862,260	3,734,640	3,952,580	2,471,940	2,406,800
Pretax margin		16.60%	16.04%	25.61%	15.33%	23.06%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $641,204K ÷ $3,862,260K
= 16.60%

The pretax margin of Align Technology, Inc. has fluctuated over the past five years. In 2023, the pretax margin stood at 16.60%, showing a slight increase from the previous year's margin of 16.04%. However, this figure is notably lower compared to the peak of 25.61% in 2021. The pretax margin in 2020 was 15.33%, showing a slight increase from the 2019 margin of 23.06%. Overall, the trend indicates some variability in the company's ability to generate profit before taxes relative to its revenue over the past five years.