Expeditors International of Washington, Inc. (EXPD)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	1,094,800	997,893	917,370	947,632	1,015,028	1,119,700	1,422,665	1,665,290	1,835,891	2,140,684	2,098,660	2,005,334	1,924,616	1,582,682	1,344,279	1,179,779	956,564	858,154	817,671	767,668
Revenue (ttm)	US$ in thousands	10,600,510	9,923,580	9,113,450	8,914,200	9,300,110	10,463,870	12,636,020	14,999,580	17,071,290	19,026,100	18,983,210	17,988,990	16,523,510	14,296,360	12,325,810	11,127,800	9,830,840	8,706,590	8,432,740	8,057,240
Pretax margin		10.33%	10.06%	10.07%	10.63%	10.91%	10.70%	11.26%	11.10%	10.75%	11.25%	11.06%	11.15%	11.65%	11.07%	10.91%	10.60%	9.73%	9.86%	9.70%	9.53%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,094,800K ÷ $10,600,510K
= 10.33%

Expeditors International of Washington, Inc.'s pretax margin has exhibited some fluctuations over the reporting periods provided. The pretax margin measures the company's efficiency in managing its operating expenses relative to its revenue before accounting for taxes.

From March 31, 2020, to December 31, 2023, the pretax margin generally showed a gradual increase, indicating improving efficiency in generating profits before taxes. The pretax margin reached its peak at 11.65% on December 31, 2021, reflecting strong cost management practices during that period.

However, in the subsequent periods from March 31, 2022, to December 31, 2024, the pretax margin experienced some variability, with some fluctuations seen in the trend. The pretax margin declined to 10.06% on September 30, 2024, suggesting potential challenges in controlling operating costs or changes in revenue dynamics during that period.

Overall, Expeditors International of Washington, Inc.'s pretax margin demonstrates a mix of steady improvements and fluctuations, indicating the company's ability to effectively manage its operating expenses and generate profits before tax over the analyzed timeframe. Further analysis and consideration of the company's operational and financial strategies may be necessary to fully understand the factors influencing these fluctuations.