Merit Medical Systems Inc (MMSI)

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	112,089	110,777	98,157	93,958	82,629	72,655	69,230	55,394	53,917	46,981	30,620	1,455	-13,231	-34,438	-37,944	-6,645	2,193	22,365	47,440	50,006
Revenue (ttm)	US$ in thousands	1,241,203	1,213,421	1,188,414	1,165,681	1,144,662	1,131,114	1,111,439	1,096,568	1,069,451	1,049,645	1,025,702	962,507	955,554	955,472	953,411	990,405	985,453	960,780	940,439	909,348
Pretax margin		9.03%	9.13%	8.26%	8.06%	7.22%	6.42%	6.23%	5.05%	5.04%	4.48%	2.99%	0.15%	-1.38%	-3.60%	-3.98%	-0.67%	0.22%	2.33%	5.04%	5.50%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $112,089K ÷ $1,241,203K
= 9.03%

The pretax margin of Merit Medical Systems, Inc. has shown a consistent upward trend over the past eight quarters, indicating improved profitability before considering taxes and other expenses. In Q4 2023, the pretax margin was 8.91%, which was slightly lower than Q3 2023 at 9.03%. This slight decrease could be attributed to possibly increased expenses or lower revenue in Q4 compared to Q3.

Compared to the same quarter in the previous year, the pretax margin has shown significant improvement. Q4 2023's pretax margin of 8.91% is notably higher than Q4 2022's margin of 7.18%. This suggests that the company has been more effective in controlling costs or generating higher revenues in the most recent quarter.

Overall, the upward trend in pretax margin indicates improving profitability for Merit Medical Systems, Inc., reflecting positively on its operational efficiency and financial performance over the analyzed period.