Deluxe Corporation (DLX)
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 | 39,693 | 38,608 | 68,639 | 78,232 | 84,243 | 90,054 | 86,355 | 72,704 | 93,664 | 101,961 | 126,317 | 127,311 | 26,924 | 48,900 | -339,821 | -315,001 | -191,858 | -173,964 | 151,076 | 185,452 |
| Revenue (ttm) | US$ in thousands | 2,192,259 | 2,218,899 | 2,236,093 | 2,227,360 | 2,238,010 | 2,244,581 | 2,221,684 | 2,136,947 | 2,022,196 | 1,906,113 | 1,813,433 | 1,745,622 | 1,790,781 | 1,858,360 | 1,912,492 | 1,996,073 | 2,008,715 | 2,011,321 | 2,010,918 | 2,005,176 |
| Pretax margin | 1.81% | 1.74% | 3.07% | 3.51% | 3.76% | 4.01% | 3.89% | 3.40% | 4.63% | 5.35% | 6.97% | 7.29% | 1.50% | 2.63% | -17.77% | -15.78% | -9.55% | -8.65% | 7.51% | 9.25% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $39,693K ÷ $2,192,259K
= 1.81%
The pretax margin of Deluxe Corp. has shown some variability over the past eight quarters. In Q4 2023, the pretax margin was 1.82%, which was slightly higher than the previous quarter's margin of 1.74%.
Looking further back, in Q3 2022, the pretax margin was highest at 4.02%, and it has since gradually decreased to the current level. Although there was a slight uptick in Q2 2023 at 3.07%, the trend appears to be fluctuating between 1.74% and 4.02% over the observed periods.
This fluctuation in the pretax margin could indicate changes in the company's operating efficiency, cost structure, or revenue generation. Further analysis of the company's financial performance and strategic decisions would be necessary to understand the factors driving these fluctuations in the pretax margin.