IDEXX Laboratories Inc (IDXX)

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	1,109,831	1,093,112	1,062,094	1,088,967	1,061,176	1,034,723	1,001,015	886,169	859,972	838,640	823,407	904,055	902,654	888,207	833,211	765,302	661,985	593,055	561,899	534,199
Revenue (ttm)	US$ in thousands	3,897,506	3,844,819	3,784,803	3,724,853	3,660,953	3,587,920	3,514,054	3,430,970	3,367,324	3,339,846	3,308,606	3,274,202	3,215,360	3,135,208	3,046,576	2,858,026	2,706,655	2,591,163	2,474,677	2,457,188
Pretax margin		28.48%	28.43%	28.06%	29.24%	28.99%	28.84%	28.49%	25.83%	25.54%	25.11%	24.89%	27.61%	28.07%	28.33%	27.35%	26.78%	24.46%	22.89%	22.71%	21.74%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,109,831K ÷ $3,897,506K
= 28.48%

IDEXX Laboratories Inc has shown a generally positive trend in its pretax margin over the specified time period. The pretax margin increased steadily from March 31, 2020, at 21.74%, to reach its peak at 29.24% by March 31, 2024. This indicates an improvement in the company's ability to generate profits before accounting for taxes.

However, there was a slight dip in the pretax margin between March 31, 2022, and June 30, 2022, where it decreased from 27.61% to 24.89%. This decline could be a result of various factors impacting the company's profitability during that specific period.

Subsequently, the pretax margin displayed some fluctuation but generally maintained levels above 28% from June 30, 2023, to December 31, 2024, indicating a strong performance in generating profits relative to its total revenue. Overall, the increasing trend in the pretax margin signifies improving operational efficiency and profitability for IDEXX Laboratories Inc over the specified time frame.