Innoviva Inc (INVA)

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	194,079	68,145	304,816	299,075	280,568	366,479	136,794	251,003	342,229	390,690	334,870	317,357	284,867	273,574	286,823	238,228	199,157	208,492	205,214	211,700
Revenue (ttm)	US$ in thousands	291,306	265,493	264,791	292,746	287,188	335,952	366,863	358,359	372,796	355,782	346,801	325,125	318,463	308,609	285,580	270,641	247,045	250,932	246,312	253,952
Pretax margin		66.62%	25.67%	115.12%	102.16%	97.69%	109.09%	37.29%	70.04%	91.80%	109.81%	96.56%	97.61%	89.45%	88.65%	100.44%	88.02%	80.62%	83.09%	83.31%	83.36%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $194,079K ÷ $291,306K
= 66.62%

Innoviva Inc's pretax margin has shown significant fluctuations over the past eight quarters. The trend indicates that the pretax margin has been volatile, ranging from as low as 23.49% in Q3 2023 to as high as 109.35% in Q3 2022.

The highest pretax margin was recorded in Q3 2022, reaching an exceptionally high level. This could be attributed to various factors such as increased revenues, effective cost management, or one-time gains.

Conversely, the lowest pretax margin was seen in Q3 2023, potentially indicating challenges in profitability during that period. It is essential for Innoviva Inc to closely monitor and analyze the factors contributing to such fluctuations to ensure sustainable profitability in the long run.