ICU Medical Inc (ICUI)

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	-78,299	-63,065	-79,006	-72,997	-114,409	-69,625	-10,393	41,293	123,186	129,958	118,199	104,205	97,494	88,306	94,890	101,658	114,707	81,303	49,990	51,981
Revenue (ttm)	US$ in thousands	2,259,126	2,249,284	2,293,830	2,305,524	2,279,997	2,042,508	1,780,711	1,541,384	1,316,308	1,296,234	1,278,741	1,260,443	1,271,004	1,266,076	1,254,980	1,263,883	1,266,208	1,291,063	1,310,761	1,358,939
Pretax margin		-3.47%	-2.80%	-3.44%	-3.17%	-5.02%	-3.41%	-0.58%	2.68%	9.36%	10.03%	9.24%	8.27%	7.67%	6.97%	7.56%	8.04%	9.06%	6.30%	3.81%	3.83%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-78,299K ÷ $2,259,126K
= -3.47%

To analyze ICU Medical, Inc.'s pretax margin over the past eight quarters, we observe a fluctuating trend. The pretax margin, which reflects the company's profitability before accounting for income taxes, ranged from -5.02% in Q4 2022 to -0.58% in Q2 2022, indicating periods of negative profitability.

In the most recent quarter, Q4 2023, the pretax margin improved slightly to -3.47% compared to the previous quarter's -2.80% in Q3 2023. However, the company has consistently struggled to maintain positive pretax margins over the period analyzed.

This trend suggests that ICU Medical, Inc. may be facing challenges in generating sufficient revenue to cover its operating expenses and tax obligations. Further analysis of the company's cost structure, revenue streams, and efficiency measures may be necessary to address these concerns and enhance profitability in the future.