Lear Corporation (LEA)

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	753,300	744,900	699,000	580,800	461,400	335,900	196,300	318,800	511,600	736,900	961,500	412,100	252,400	109,200	139,600	730,600	899,700	1,068,600	1,129,300	1,302,300
Revenue (ttm)	US$ in thousands	46,841,200	44,599,700	44,046,700	43,128,300	42,449,200	40,184,400	39,218,700	38,963,900	39,129,000	19,603,000	20,263,000	17,919,300	17,024,400	16,598,800	16,494,400	19,023,900	19,727,600	19,852,400	19,920,300	20,507,400
Pretax margin		1.61%	1.67%	1.59%	1.35%	1.09%	0.84%	0.50%	0.82%	1.31%	3.76%	4.75%	2.30%	1.48%	0.66%	0.85%	3.84%	4.56%	5.38%	5.67%	6.35%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $753,300K ÷ $46,841,200K
= 1.61%

The pretax margin of Lear Corp. has shown a gradually increasing trend over the past eight quarters, indicating improved profitability. The pretax margin has ranged between 1.42% and 3.58% during this period, with the most recent quarter (Q4 2023) reaching a level of 3.52%. This suggests that the company has been effectively managing its operating expenses and generating more income relative to its revenue. Overall, the upward trend in pretax margin reflects a positive performance in terms of profitability for Lear Corp.