Corcept Therapeutics Incorporated (CORT)

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	124,558	112,023	108,642	107,824	116,239	128,701	131,968	131,879	124,943	118,992	108,046	112,295	131,564	137,239	146,266	135,780	116,672	106,152	95,547	90,957
Revenue (ttm)	US$ in thousands	482,375	450,026	428,153	413,824	401,858	397,624	392,027	380,229	365,978	352,891	343,087	340,064	353,874	356,034	351,212	334,904	306,486	285,422	268,362	258,417
Pretax margin		25.82%	24.89%	25.37%	26.06%	28.93%	32.37%	33.66%	34.68%	34.14%	33.72%	31.49%	33.02%	37.18%	38.55%	41.65%	40.54%	38.07%	37.19%	35.60%	35.20%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $124,558K ÷ $482,375K
= 25.82%

The pretax margin of Corcept Therapeutics Inc has shown a decreasing trend over the past year, starting at 34.70% in Q1 2022 and declining to 25.82% in Q4 2023. This indicates that the company's profitability before tax has been gradually eroding. Despite some fluctuations within each quarter, the overall downward trajectory suggests potential challenges in managing costs or generating sufficient revenue in recent periods. Further analysis and investigation into the factors affecting the pretax margin would be necessary to understand the root causes of this trend and to implement appropriate measures for improvement.