M/I Homes Inc (MHO)

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	607,293	633,489	622,163	648,900	635,168	612,307	561,889	521,048	509,079	469,602	448,539	378,969	310,044	259,471	214,400	183,919	166,042	159,196	148,640	140,905
Revenue (ttm)	US$ in thousands	4,033,498	4,277,910	4,244,470	4,271,110	4,131,391	3,966,141	3,857,530	3,777,920	3,745,885	3,600,562	3,544,164	3,297,318	3,046,145	2,881,868	2,687,292	2,596,784	2,500,290	2,480,625	2,395,122	2,329,534
Pretax margin		15.06%	14.81%	14.66%	15.19%	15.37%	15.44%	14.57%	13.79%	13.59%	13.04%	12.66%	11.49%	10.18%	9.00%	7.98%	7.08%	6.64%	6.42%	6.21%	6.05%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $607,293K ÷ $4,033,498K
= 15.06%

The pretax margin of MI Homes Inc. has shown a relatively stable trend over the past eight quarters, ranging from 13.79% to 15.44%. Despite slight fluctuations, the company has maintained a consistent performance in generating profits before tax relative to its total revenue during this period. In the most recent quarter, Q4 2023, the pretax margin increased to 15.06%, indicating a slightly improved profitability compared to the previous quarter. Overall, MI Homes Inc. appears to effectively manage its operating expenses and generate earnings before tax at a relatively steady rate, which is a positive sign for the company's financial health.