Incyte Corporation (INCY)

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	834,215	643,874	558,663	510,437	529,116	568,521	629,402	571,657	570,444	618,526	405,554	541,185	-232,213	-274,311	-122,837	-321,383	486,790	431,503	314,508	259,784
Revenue (ttm)	US$ in thousands	3,693,101	3,609,260	3,513,520	3,470,962	3,395,993	3,330,147	3,320,472	3,114,784	2,986,267	2,912,923	2,720,579	2,702,913	2,666,702	2,456,582	2,387,520	2,229,409	2,158,759	2,107,772	2,005,874	1,997,458
Pretax margin		22.59%	17.84%	15.90%	14.71%	15.58%	17.07%	18.96%	18.35%	19.10%	21.23%	14.91%	20.02%	-8.71%	-11.17%	-5.14%	-14.42%	22.55%	20.47%	15.68%	13.01%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $834,215K ÷ $3,693,101K
= 22.59%

The pretax margin for Incyte Corp. has shown some fluctuations over the past eight quarters. In Q4 2023, the pretax margin was 22.57%, representing an increase from the previous quarter's 17.84%. This indicates that the company's profitability before taxes improved significantly in the most recent quarter.

Looking at the trend over the past year, the pretax margin has generally been above 15%, with some quarters showing higher profitability around the 18-19% range. This suggests that Incyte Corp. has been able to maintain a relatively healthy level of profitability before accounting for taxes.

It is important to continue monitoring this metric to assess the company's ability to control costs, manage expenses, and generate income efficiently. fluctuations in the pretax margin can provide insights into the company's operational performance and overall financial health.