IDEXX Laboratories Inc (IDXX)

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	1,061,176	1,034,723	1,001,015	886,169	859,972	838,640	823,464	904,088	902,655	888,040	832,885	764,944	661,630	592,820	561,765	534,126	522,146	520,694	496,973	478,166
Revenue (ttm)	US$ in thousands	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	2,406,908	2,350,848	2,290,993	2,251,642
Pretax margin		28.99%	28.84%	28.49%	25.83%	25.54%	25.11%	24.89%	27.61%	28.07%	28.32%	27.34%	26.76%	24.44%	22.88%	22.70%	21.74%	21.69%	22.15%	21.69%	21.24%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,061,176K ÷ $3,660,953K
= 28.99%

Idexx Laboratories, Inc.'s pretax margin has shown a consistent upward trend over the past eight quarters, reaching 28.99% in Q4 2023, which indicates an improvement in the company's profitability before accounting for income taxes. The company has been able to effectively manage its expenses and generate higher revenue relative to its costs. This positive trend suggests that Idexx Laboratories, Inc. has been successful in controlling its operating costs and achieving efficiency in its operations. It is noteworthy that the pretax margin has been steadily increasing, demonstrating the company's ability to generate stronger profits from its core business activities. Overall, the upward trend in pretax margin reflects positively on Idexx Laboratories, Inc.'s financial performance and operational efficiency in recent quarters.