Murphy USA Inc (MUSA)

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	734,400	689,500	756,800	822,400	883,800	873,300	720,300	649,000	521,900	461,700	412,100	465,100	509,100	490,300	493,500	313,800	202,400	241,000	206,700	232,500
Revenue (ttm)	US$ in thousands	21,529,400	21,811,100	22,211,500	23,399,400	23,446,100	22,849,200	21,256,200	18,943,300	17,360,500	15,429,900	13,676,300	11,608,700	11,264,300	11,883,100	12,684,200	14,103,500	14,034,600	14,059,600	14,206,200	14,248,000
Pretax margin		3.41%	3.16%	3.41%	3.51%	3.77%	3.82%	3.39%	3.43%	3.01%	2.99%	3.01%	4.01%	4.52%	4.13%	3.89%	2.22%	1.44%	1.71%	1.45%	1.63%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $734,400K ÷ $21,529,400K
= 3.41%

Pretax margin is a key financial ratio that measures a company's profitability before taxes relative to its total revenue. Analyzing Murphy USA Inc's pretax margin over the past eight quarters reveals a relatively stable trend, hovering around the 3-4% range. The company's pretax margin peaked at 3.82% in Q4 2022 and experienced a slight decline in subsequent quarters before rebounding to 3.41% in Q4 2023. This indicates that the company has been able to maintain a consistent level of profitability despite fluctuations in the business environment. It is essential for investors and stakeholders to monitor Murphy USA Inc's pretax margin over time to assess its efficiency in generating profits and managing costs effectively.