CarGurus (CARG)

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	24,657	-47,071	-49,866	62,975	51,687	100,657	102,251	103,219	111,362	123,372	134,735	149,887	149,360	138,178	141,731	112,376	99,110	80,215	47,157	42,371
Revenue (ttm)	US$ in thousands	894,384	888,969	877,030	898,075	914,242	977,863	1,184,898	1,456,390	1,655,035	1,707,633	1,504,094	1,210,613	951,373	763,584	688,141	565,130	551,451	558,051	561,041	611,335
Pretax margin		2.76%	-5.30%	-5.69%	7.01%	5.65%	10.29%	8.63%	7.09%	6.73%	7.22%	8.96%	12.38%	15.70%	18.10%	20.60%	19.88%	17.97%	14.37%	8.41%	6.93%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $24,657K ÷ $894,384K
= 2.76%

CarGurus' pretax margin has displayed fluctuations over the reported periods. From March 31, 2020, where the pretax margin was 6.93%, the metric increased steadily, reaching its peak at 20.60% on June 30, 2021. Subsequently, there was a decline in the pretax margin, dropping to 5.65% by December 31, 2023. Notably, there were significant negative pretax margins reported in the second and third quarters of 2024, indicating challenges in generating pre-tax profits during those periods. The figure rebounded to 2.76% by the end of December 31, 2024. Overall, the pretax margin trend shows variability, with periods of growth followed by declines and occasional periods of negative performance.