Martin Marietta Materials Inc (MLM)

Pretax margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	1,461,400	1,101,600	855,700	889,200	748,200
Revenue	US$ in thousands	6,611,900	5,991,700	5,293,000	4,684,800	4,612,900
Pretax margin		22.10%	18.39%	16.17%	18.98%	16.22%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $1,461,400K ÷ $6,611,900K
= 22.10%

Over the past five years, Martin Marietta Materials, Inc. has shown fluctuating pretax margins. The company's pretax margin has ranged from 15.80% in 2021 to 22.03% in 2023. The upward trend in the most recent year indicates an improvement in the company's ability to generate profits before accounting for taxes. This could signify better cost management or increased revenue generation efficiency. However, it is essential to analyze further factors such as revenue growth, cost structure, and operating efficiency to get a holistic picture of the company's financial performance.