Enphase Energy Inc (ENPH)

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	120,123	62,684	149,286	322,664	513,134	669,051	665,918	573,532	451,966	334,368	225,865	180,003	120,930	141,741	160,877	60,676	119,410	92,479	79,005	144,069
Revenue (ttm)	US$ in thousands	1,330,383	1,250,240	1,420,449	1,828,109	2,290,786	2,712,868	2,796,499	2,615,577	2,330,853	2,018,920	1,735,726	1,521,587	1,382,049	1,234,169	1,061,153	870,634	774,425	719,618	721,172	729,728
Pretax margin		9.03%	5.01%	10.51%	17.65%	22.40%	24.66%	23.81%	21.93%	19.39%	16.56%	13.01%	11.83%	8.75%	11.48%	15.16%	6.97%	15.42%	12.85%	10.96%	19.74%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $120,123K ÷ $1,330,383K
= 9.03%

Enphase Energy Inc's pretax margin has shown fluctuations over the period indicated. From March 31, 2020, to December 31, 2021, the pretax margin ranged between 6.97% and 19.74%. There was a notable decline in the pretax margin in March 31, 2021, which was followed by a recovery in the subsequent quarters.

In the later period from March 31, 2022, to December 31, 2024, the pretax margin demonstrated a more volatile trend, fluctuating between 5.01% and 24.66%. Notably, there was a significant increase in the pretax margin in the latter part of the period, reaching its peak at 24.66% on September 30, 2023. However, there was a decline in the pretax margin in the following quarters, dropping to 9.03% by December 31, 2024.

Overall, Enphase Energy Inc's pretax margin has shown variability, indicating changes in the company's profitability before accounting for taxes. Investors and analysts may want to further investigate the factors contributing to these fluctuations to assess the company's financial performance and sustainability.