Bristol-Myers Squibb Company (BMY)

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	8,425,000	8,607,000	8,683,000	8,778,000	7,695,000	7,697,000	7,641,000	7,238,000	8,078,000	-4,231,000	-4,131,000	-4,056,000	-6,891,000	3,435,000	2,520,000	2,667,000	4,954,000	6,586,000	7,406,000	6,145,000
Revenue (ttm)	US$ in thousands	45,006,000	44,935,000	45,187,000	45,848,000	46,159,000	46,738,000	47,144,000	46,960,000	46,385,000	45,468,000	44,384,000	42,810,000	42,518,000	39,395,000	34,862,000	31,006,000	26,145,000	24,173,000	23,857,000	23,288,000
Pretax margin		18.72%	19.15%	19.22%	19.15%	16.67%	16.47%	16.21%	15.41%	17.42%	-9.31%	-9.31%	-9.47%	-16.21%	8.72%	7.23%	8.60%	18.95%	27.25%	31.04%	26.39%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $8,425,000K ÷ $45,006,000K
= 18.72%

Bristol-Myers Squibb Co.'s pretax margin has shown a general upward trend from Q1 2022 to Q4 2023, indicating improved profitability before taking into account taxes and other non-operating expenses. The company's pretax margin increased from 15.45% in Q1 2022 to 18.75% in Q4 2023. This steady improvement suggests that the company has been effectively managing its operating expenses and generating stronger revenues relative to costs over the quarters analyzed. It is noteworthy that the pretax margin has consistently been above 15% during this period, reflecting the company's ability to efficiently generate profits from its operations. This positive trend in pretax margin indicates Bristol-Myers Squibb Co.'s continued focus on enhancing operational efficiency and maximizing profitability.