Cirrus Logic Inc (CRUS)

Pretax margin

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Sep 23, 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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	444,914	409,967	428,366	397,769	450,574	413,686	183,000	214,033	222,422	254,739	421,267	424,835	404,128	368,663	288,641	275,281	244,506	245,246	229,675	173,534
Revenue (ttm)	US$ in thousands	1,896,077	1,843,448	1,906,694	1,845,900	1,952,694	1,897,883	1,651,721	1,761,240	1,820,994	1,897,617	2,014,767	1,972,534	1,897,846	1,781,460	1,585,025	1,522,471	1,403,910	1,369,230	1,354,984	1,243,857
Pretax margin		23.46%	22.24%	22.47%	21.55%	23.07%	21.80%	11.08%	12.15%	12.21%	13.42%	20.91%	21.54%	21.29%	20.69%	18.21%	18.08%	17.42%	17.91%	16.95%	13.95%

March 31, 2025 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $444,914K ÷ $1,896,077K
= 23.46%

Cirrus Logic Inc's pretax margin has shown fluctuation over the past few years, indicating varying levels of profitability before accounting for taxes. The pretax margin stood at 13.95% as of September 30, 2020, and gradually increased to 18.21% by December 31, 2021. There was a notable surge in pretax margin to 21.29% by June 30, 2022, and reached a peak of 23.46% by March 31, 2025.

However, there were periods of decline in the pretax margin, such as the decreases observed in the first half of 2023, where the margin dropped to as low as 11.08% by September 30, 2023. It is essential to investigate the factors and events that led to these fluctuations to understand the company's performance and efficiency in generating profits before taxes.