EPAM Systems Inc (EPAM)

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	536,585	610,344	669,638	528,250	507,258	466,045	410,257	524,760	533,392	475,463	444,069	396,984	378,479	361,256	337,261	331,695	299,526	293,497	279,515	266,124
Revenue (ttm)	US$ in thousands	4,656,750	4,778,720	4,882,220	4,826,940	4,720,160	4,556,090	4,307,578	4,075,331	3,750,945	3,360,418	3,033,459	2,780,002	2,654,811	2,570,115	2,496,974	2,421,783	2,281,749	2,155,221	2,037,895	1,935,517
Pretax margin		11.52%	12.77%	13.72%	10.94%	10.75%	10.23%	9.52%	12.88%	14.22%	14.15%	14.64%	14.28%	14.26%	14.06%	13.51%	13.70%	13.13%	13.62%	13.72%	13.75%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $536,585K ÷ $4,656,750K
= 11.52%

EPAM Systems Inc's pretax margin has exhibited fluctuations over the past eight quarters. In Q4 2023, the pretax margin stood at 11.44%, a slight decline from the previous quarter's level of 12.81%. Despite this decrease, the company's margin remains relatively healthy compared to historical data.

Looking back at the trend, EPAM Systems Inc experienced a gradual increase in pretax margin from Q1 2022 to Q2 2023, reaching a peak of 13.84% in Q2 2023. This upward trend highlights the company's improving profitability before experiencing a slight drop in the most recent quarter.

Overall, EPAM Systems Inc's pretax margin performance indicates some variability, with periods of growth and minor declines. Monitoring this key metric closely can help stakeholders assess the company's operational efficiency and profitability in the competitive market landscape.