Eli Lilly and Company (LLY)

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	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	8,946,400	8,218,500	8,209,700	6,757,200
Revenue (ttm)	US$ in thousands	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	22,319,500	21,843,100	21,673,400	21,621,700
Pretax margin		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%	40.08%	37.63%	37.88%	31.25%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $6,554,600K ÷ $34,124,100K
= 19.21%

The pretax margin of Lilly(Eli) & Co has shown fluctuations over the past eight quarters. In Q2 2023, the pretax margin was highest at 24.67%, indicating that the company generated $0.2467 in pretax profit for every dollar of revenue. This was a significant increase from the previous quarter's 22.69%. However, the pretax margin in Q4 2023 decreased slightly to 19.21%.

Comparing year-over-year, the pretax margin in Q4 2023 was lower than in Q4 2022, which stood at 23.85%. This indicates a slight decline in profitability over the year. Overall, Lilly(Eli) & Co has maintained a relatively stable pretax margin range between 19% and 24% over the quarters analyzed, with some seasonal fluctuations. Further analysis and investigation would be needed to understand the reasons behind the fluctuations and trends in the pretax margin.