ASGN Inc (ASGN)

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	297,700	307,000	325,300	343,100	364,800	394,600	532,400	517,900	491,500	457,400	291,000	270,300	265,700	237,800	246,100	240,700	229,400	245,800	227,300	213,100
Revenue (ttm)	US$ in thousands	4,450,600	4,526,900	4,608,000	4,618,900	4,581,100	4,484,500	4,360,400	4,193,500	4,009,500	3,856,100	3,686,700	3,543,700	3,502,100	3,626,900	3,725,200	3,865,600	3,923,900	3,828,400	3,732,100	3,638,300
Pretax margin		6.69%	6.78%	7.06%	7.43%	7.96%	8.80%	12.21%	12.35%	12.26%	11.86%	7.89%	7.63%	7.59%	6.56%	6.61%	6.23%	5.85%	6.42%	6.09%	5.86%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $297,700K ÷ $4,450,600K
= 6.69%

ASGN Inc's pretax margin has shown a declining trend over the past eight quarters, starting at 8.50% in Q1 2022 and decreasing steadily to 6.69% in Q4 2023. This indicates that the company's profitability before taxes has been eroding. While the pretax margin fluctuated slightly from quarter to quarter, the overall trend is downward.

A falling pretax margin could suggest that ASGN Inc is facing challenges in managing its costs relative to its revenue generation. This could be due to various factors such as increasing operating expenses, pricing pressure, or changes in the business environment. Investors and stakeholders may want to closely monitor the company's efforts to improve operational efficiency and profitability in order to reverse this declining trend.