Haemonetics Corporation (HAE)

Pretax margin

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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Earnings before tax but after interest (EBT) (ttm) US$ in thousands 151,853 161,065 159,248 167,499 141,403 124,072 113,280 92,143 63,641 20,949 26,899 61,933 72,921 122,268 122,681 112,813 87,154 87,023 47,934 25,872
Revenue (ttm) US$ in thousands 2,596,175 2,424,725 2,393,776 2,373,078 2,323,237 1,114,154 1,068,622 1,011,034 987,485 954,649 935,251 904,840 862,112 882,733 901,332 944,412 989,857 1,000,660 989,046 978,061
Pretax margin 5.85% 6.64% 6.65% 7.06% 6.09% 11.14% 10.60% 9.11% 6.44% 2.19% 2.88% 6.84% 8.46% 13.85% 13.61% 11.95% 8.80% 8.70% 4.85% 2.65%

March 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $151,853K ÷ $2,596,175K
= 5.85%

Haemonetics Corporation's pretax margin has shown some fluctuations over the past several quarters. The pretax margin represents the proportion of each dollar of revenue that the company retains as pre-tax income after accounting for all operating expenses.

From Dec 31, 2019, to Mar 31, 2020, the pretax margin increased from 4.85% to 8.80%, indicating an improvement in the company's profitability. However, the pretax margin decreased in the subsequent quarters until Sep 30, 2020, reaching 2.65%, possibly due to increased operating expenses relative to revenue during that period.

There was a significant rebound in pretax margin from Dec 31, 2020, to Dec 31, 2021, where it increased substantially from 8.70% to 13.85%, reflecting improved operational efficiency and cost management during that period.

Although the pretax margin dipped slightly in the following quarters, it remained above 6% until Mar 31, 2023, indicating a relatively healthy level of profitability. It is noteworthy that the pretax margin surged to 11.14% in Dec 31, 2023, but decreased slightly in the most recent quarter, Mar 31, 2024, to 5.85%.

In conclusion, Haemonetics Corporation's pretax margin has displayed variability in recent quarters, with some fluctuations potentially influenced by changes in revenue, costs, or other operational factors. Further analysis of the company's financial performance and operating activities would be necessary to provide a more in-depth assessment of its pretax margin dynamics.


Peer comparison

Mar 31, 2024