Chemed Corp (CHE)

Pretax margin

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Earnings before tax but after interest (EBT) US$ in thousands 350,367 329,679 350,314 395,990 261,609
Revenue US$ in thousands 2,264,420 2,134,960 2,139,260 2,079,580 1,938,560
Pretax margin 15.47% 15.44% 16.38% 19.04% 13.50%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $350,367K ÷ $2,264,420K
= 15.47%

Chemed Corp.'s pretax margin has shown some variability over the past five years. It decreased slightly from 15.44% in 2022 to 15.47% in 2023. Prior to this, there was another slight decline from 16.38% in 2021. The pretax margin was highest in 2020 at 19.04% and lowest in 2019 at 13.50%. This indicates that the company's ability to generate profits before accounting for taxes has fluctuated over the years, with a downward trend in recent years. Further analysis would be needed to understand the causes behind these fluctuations and to assess the sustainability of the company's profitability levels.