International Business Machines (IBM)
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 | 8,678,000 | 8,070,000 | 1,724,000 | 1,371,000 | 1,014,000 | 599,000 | 5,988,000 | 5,765,000 | 5,866,000 | 4,011,000 | 4,931,000 | 5,075,000 | 4,229,000 | 6,668,000 | 6,363,000 | 7,560,000 | 9,491,000 | 10,600,000 | 12,077,000 | 12,087,000 |
| Revenue (ttm) | US$ in thousands | 61,860,000 | 61,169,000 | 60,524,000 | 60,584,000 | 60,529,000 | 60,533,000 | 59,677,000 | 58,360,000 | 57,350,000 | 42,582,000 | 46,891,000 | 50,796,000 | 55,180,000 | 55,598,000 | 56,066,000 | 57,104,000 | 57,715,000 | 77,132,000 | 77,860,000 | 78,702,000 |
| Pretax margin | 14.03% | 13.19% | 2.85% | 2.26% | 1.68% | 0.99% | 10.03% | 9.88% | 10.23% | 9.42% | 10.52% | 9.99% | 7.66% | 11.99% | 11.35% | 13.24% | 16.44% | 13.74% | 15.51% | 15.36% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $8,678,000K ÷ $61,860,000K
= 14.03%
The pretax margin of International Business Machines Corp. has shown fluctuations over the past eight quarters.
In Q4 2023, the pretax margin increased to 14.05%, up from 13.47% in Q3 2023. This indicates improved profitability before taxes during this period.
However, in Q2 2023 and Q1 2023, the pretax margins were relatively low at 3.09% and 2.63% respectively, suggesting a decrease in profitability compared to the previous quarters.
Looking back at Q4 2022, the pretax margin was 1.91%, which has shown a gradual improvement in subsequent quarters. In Q3 2022, there was a notable decline with a negative pretax margin of -2.32%, but the company managed to recover and achieve pretax margins of 9.34% in Q2 2022 and 8.47% in Q1 2022.
Overall, the trend in pretax margin for International Business Machines Corp. has been volatile, with periods of both improvement and decline in profitability before taxes.
Peer comparison
Dec 31, 2023