Eli Lilly and Company (LLY)

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	12,680,400	10,150,500	8,989,300	7,561,000	6,554,600	6,142,200	7,280,500	6,282,500	6,806,400	6,549,900	6,229,700	6,732,700	6,155,500	6,784,700	6,976,600	7,026,400	7,229,900	6,423,900	6,392,500	6,214,700
Revenue (ttm)	US$ in thousands	45,042,700	40,863,300	38,922,800	35,932,100	34,124,100	32,072,500	29,515,500	27,691,400	28,541,400	29,239,500	29,070,700	29,322,800	28,318,400	27,758,500	26,726,300	25,485,600	24,539,800	23,213,800	22,949,800	23,087,100
Pretax margin		28.15%	24.84%	23.10%	21.04%	19.21%	19.15%	24.67%	22.69%	23.85%	22.40%	21.43%	22.96%	21.74%	24.44%	26.10%	27.57%	29.46%	27.67%	27.85%	26.92%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $12,680,400K ÷ $45,042,700K
= 28.15%

Eli Lilly and Company's pretax margin has shown some fluctuations over the time period provided. The pretax margin, which is a measure of a company's profitability before taxes, started at a relatively high level of 26.92% as of March 31, 2020.

Thereafter, the pretax margin increased steadily, reaching its peak of 29.46% by December 31, 2020. However, a decline was observed in the following quarters, with a slight decrease to 27.57% as of March 31, 2021, and a more significant drop to 21.74% by December 31, 2021.

The trend continued in 2022 with pretax margin fluctuating between 21.43% and 24.67% throughout the year. In 2023, the pretax margin experienced a notable decline to as low as 19.15% by September 30, 2023. This trend reversed by the end of 2024, with the pretax margin increasing to 28.15% as of December 31, 2024.

Overall, Eli Lilly and Company's pretax margin has shown variability, reflecting changes in the company's operating efficiency and cost management strategies. Investors and stakeholders may want to further investigate the reasons behind these fluctuations to assess the company's financial performance and sustainability.