Edwards Lifesciences Corp (EW)

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	1,601,100	1,638,500	1,605,300	1,729,900	1,767,400	1,684,400	1,668,000	1,748,800	1,702,000	2,267,700	2,241,100	1,527,400	1,502,600	1,483,800	1,421,200	1,860,700	1,774,200	1,765,200	1,712,200	1,691,900
Revenue (ttm)	US$ in thousands	5,997,700	5,823,000	5,652,900	5,488,400	5,362,000	5,360,300	5,343,800	5,344,000	5,219,100	5,093,000	4,925,300	4,477,100	4,393,400	4,375,800	4,330,900	4,493,400	4,355,200	4,158,800	3,968,100	3,822,500
Pretax margin		26.70%	28.14%	28.40%	31.52%	32.96%	31.42%	31.21%	32.72%	32.61%	44.53%	45.50%	34.12%	34.20%	33.91%	32.82%	41.41%	40.74%	42.44%	43.15%	44.26%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,601,100K ÷ $5,997,700K
= 26.70%

The pretax margin of Edwards Lifesciences Corp has displayed a slight downward trend over the past four quarters, with Q1 2023 showing the lowest pretax margin at 26.61% compared to Q4 2022 which was at 32.84%. Despite this decrease, the company has maintained relatively consistent pretax margins above 25% throughout the periods analyzed. This indicates that Edwards Lifesciences Corp has been able to effectively manage its operating expenses relative to its pre-tax income, demonstrating strong cost control measures. Further analysis could explore the reasons behind the fluctuations in pretax margin and assess the company's profitability sustainability in the upcoming periods.