Aramark Holdings (ARMK)

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	805,328	851,722	733,492	323,224	307,612	255,945	196,433	179,761	36,407	-131,466	-374,686	-836,246	-943,138	-647,813	-324,441	204,013	440,450	556,254	625,375	615,634
Revenue (ttm)	US$ in thousands	19,603,060	19,914,720	18,710,200	17,336,900	16,595,300	15,942,560	15,070,690	14,063,660	13,022,850	11,818,380	10,986,830	10,018,580	10,929,130	12,437,650	14,084,690	15,944,550	16,214,300	16,367,500	16,329,860	16,290,710
Pretax margin		4.11%	4.28%	3.92%	1.86%	1.85%	1.61%	1.30%	1.28%	0.28%	-1.11%	-3.41%	-8.35%	-8.63%	-5.21%	-2.30%	1.28%	2.72%	3.40%	3.83%	3.78%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $805,328K ÷ $19,603,060K
= 4.11%

The pretax margin of Aramark Holdings has shown fluctuating trends over the periods analyzed. The company's pretax margin ranged from -8.63% in the fourth quarter of 2020 to a high of 4.28% in the second quarter of 2023. In recent quarters, the pretax margin has generally been positive, indicating that the company's pre-tax earnings are growing relative to its revenue.

However, it is important to note that the pretax margin dipped into negative territory in some quarters, such as in the third and fourth quarters of 2021 and the third and fourth quarters of 2020. This suggests that the company faced challenges during those periods in generating profits before accounting for taxes.

Overall, the upward trend in the pretax margin in recent quarters is a positive sign, but investors and analysts should closely monitor the company's ability to maintain and improve profitability in the future.