Enphase Energy Inc (ENPH)

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	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	90,114	46,978	12,385	-2,223
Revenue (ttm)	US$ in thousands	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	624,333	506,590	404,535	346,337
Pretax margin		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%	14.43%	9.27%	3.06%	-0.64%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $513,134K ÷ $2,290,786K
= 22.40%

Enphase Energy Inc's pretax margin has shown a consistent upward trend over the past eight quarters, indicating an improvement in the company's profitability before tax. The pretax margin increased from 11.83% in Q1 2022 to 22.40% in Q4 2023, demonstrating a strong performance in managing expenses and generating income.

The company's ability to control costs and increase revenue has led to a higher pretax margin, reflecting efficient operations and effective financial management. The steady growth in pretax margin signifies Enphase Energy's profitability and potential for future earnings growth. This positive trend could be attractive to investors, as it indicates a strong financial performance and sustainable profitability for the company.