Henry Schein Inc (HSIC)
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 | 536,000 | 579,000 | 599,000 | 630,000 | 708,000 | 837,000 | 853,000 | 844,000 | 829,000 | 809,874 | 768,576 | 553,829 | 499,000 | 699,924 | 711,743 | 873,902 | 854,996 | 620,753 | 545,635 | 539,738 |
| Revenue (ttm) | US$ in thousands | 12,266,000 | 12,632,000 | 12,551,000 | 12,491,000 | 12,603,000 | 12,573,770 | 12,696,850 | 12,636,700 | 12,383,180 | 12,225,710 | 11,875,670 | 10,588,730 | 10,091,310 | 9,779,720 | 9,447,070 | 10,208,200 | 10,131,110 | 10,650,600 | 11,433,890 | 12,325,530 |
| Pretax margin | 4.37% | 4.58% | 4.77% | 5.04% | 5.62% | 6.66% | 6.72% | 6.68% | 6.69% | 6.62% | 6.47% | 5.23% | 4.94% | 7.16% | 7.53% | 8.56% | 8.44% | 5.83% | 4.77% | 4.38% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $536,000K ÷ $12,266,000K
= 4.37%
The pretax margin of Henry Schein Inc has shown some fluctuation over the past several quarters. The pretax margin represents the percentage of each dollar of revenue that the company retains as profit before accounting for taxes.
From December 2019 to December 2023, the pretax margin ranged from a low of 4.38% to a high of 8.56%. There appears to have been a general downward trend in the pretax margin from mid-2020 to mid-2022, with a peak in pretax margin in March 2020 at 8.56%, followed by a decline to 4.94% in September 2020.
However, there has been a slight recovery in pretax margin since then, with an increase to 6.72% in June 2022 before declining again in the most recent quarter to 4.37%.
Overall, while the pretax margin has shown some volatility, it is important for the company to focus on managing costs and improving profitability to ensure a sustainable level of profitability over time.
Peer comparison
Dec 31, 2023