AMN Healthcare Services Inc (AMN)

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	284,289	377,783	429,805	523,770	606,703	657,998	631,197	546,807	443,921	291,105	224,397	162,292	91,523	123,654	121,665	133,798	148,488	160,773	166,850	176,198
Revenue (ttm)	US$ in thousands	3,735,110	4,049,756	4,337,454	4,774,860	5,201,610	5,439,780	5,182,737	4,613,541	3,947,321	3,227,672	2,894,162	2,643,736	2,355,387	2,311,008	2,331,708	2,263,912	2,202,535	2,144,278	2,106,704	2,129,324
Pretax margin		7.61%	9.33%	9.91%	10.97%	11.66%	12.10%	12.18%	11.85%	11.25%	9.02%	7.75%	6.14%	3.89%	5.35%	5.22%	5.91%	6.74%	7.50%	7.92%	8.27%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $284,289K ÷ $3,735,110K
= 7.61%

The pretax margin of AMN Healthcare Services Inc. has shown a gradual decline over the past eight quarters, decreasing from 11.57% in Q4 2022 to 7.50% in Q4 2023. This trend suggests that the company's profitability before taxes has been progressively eroding. Optimally, a company aims for a higher pretax margin to indicate efficient cost management and revenue generation. However, AMN Healthcare Services Inc. may need to assess its cost structure and revenue streams to improve its profitability moving forward.