ExlService Holdings Inc (EXLS)

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	238,094	226,688	220,193	202,542	190,533	184,023	163,184	153,099	146,608	147,906	152,111	127,726	115,103	99,632	89,469	92,202	82,831	59,332	55,575	60,313
Revenue (ttm)	US$ in thousands	1,619,020	1,581,075	1,534,327	1,479,524	1,412,249	1,334,679	1,250,293	1,176,913	1,106,200	1,059,066	1,021,331	968,383	953,303	961,222	971,337	991,235	984,191	962,222	943,035	913,024
Pretax margin		14.71%	14.34%	14.35%	13.69%	13.49%	13.79%	13.05%	13.01%	13.25%	13.97%	14.89%	13.19%	12.07%	10.37%	9.21%	9.30%	8.42%	6.17%	5.89%	6.61%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $238,094K ÷ $1,619,020K
= 14.71%

To analyze ExlService Holdings Inc's pretax margin over the past eight quarters, we observe fluctuations in the profitability of the company before accounting for taxes. The pretax margin has shown some variability within a range of 12.86% to 14.60%. In the most recent quarter, Q4 2023, the pretax margin improved to 14.60%, representing a positive trend compared to the preceding quarters.

Overall, ExlService Holdings Inc has demonstrated relatively stable profitability levels, with the pretax margin consistently staying above 13%. The slight fluctuations observed may indicate the company's ability to manage costs and generate revenue efficiently. Further analysis would be beneficial to understand the specific factors driving these margin changes and to assess the company's overall financial health in more detail.