Avantor Inc (AVTR)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	853,900	389,200	451,200	335,300	410,500	465,700	537,500	765,100	851,100	816,400	794,600	783,400	753,000	639,700	345,400	209,000	62,300	85,600	230,700	101,400
Revenue (ttm)	US$ in thousands	6,783,600	6,819,800	6,825,600	6,866,700	6,967,200	7,039,400	7,175,700	7,342,300	7,512,400	7,625,000	7,602,800	7,550,900	7,386,100	7,269,400	7,040,100	6,660,200	6,393,600	6,126,700	6,025,500	6,079,200
Pretax margin		12.59%	5.71%	6.61%	4.88%	5.89%	6.62%	7.49%	10.42%	11.33%	10.71%	10.45%	10.37%	10.19%	8.80%	4.91%	3.14%	0.97%	1.40%	3.83%	1.67%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $853,900K ÷ $6,783,600K
= 12.59%

The pretax margin of Avantor Inc has depicted fluctuating trends over the period under consideration. Starting at 1.67% in March 2020, the pretax margin increased to 10.71% by September 2022, showcasing a significant improvement in profitability. Subsequently, a slight decline was observed at the end of the year, with the pretax margin dropping to 11.33% by December 2022.

During the first half of 2023, there was a further decrease in pretax margin to 4.88% by March 2023. The trend reversed in the second quarter of 2023, rising to 7.49% in June, but saw a decline again to 5.89% by the end of the year. The following year, the trend continued downward, reaching its lowest point at 5.71% in September 2024.

A notable and sharp increase in profitability was recorded in December 2024, with the pretax margin spiking to 12.59%. Overall, the pretax margin of Avantor Inc has shown volatility during the period, with fluctuations reflective of the company's varying levels of operational efficiency and cost management.