Expeditors International of Washington Inc (EXPD)

Pretax margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	1,016,130	1,832,680	1,921,260	954,490	794,173
Revenue	US$ in thousands	9,280,370	17,046,400	16,511,700	10,091,100	8,166,180
Pretax margin		10.95%	10.75%	11.64%	9.46%	9.73%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $1,016,130K ÷ $9,280,370K
= 10.95%

Expeditors International Of Washington, Inc.'s pretax margin has shown some fluctuations over the past five years. The company's pretax margin was highest in 2021 at 11.65% and lowest in 2020 at 9.46%. The slight decrease in the pretax margin from 2021 to 2022 (11.65% to 10.75%) may indicate some challenges or increased costs impacting profitability. However, the pretax margin increased in 2023 to 10.91%, showing some recovery.

It is worth noting that Expeditors International Of Washington, Inc. has consistently maintained a pretax margin above 9% over the past five years, which can be seen as a sign of stable financial performance. Monitoring the trend of the pretax margin can provide insights into the company's ability to generate earnings before taxes relative to its revenue, as well as efficiency in managing expenses and operations.