NiSource Inc (NI)

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	853,800	869,800	858,400	864,500	968,700	872,600	873,100	867,600	702,700	650,800	335,000	262,700	-34,700	-312,700	-78,500	289,400	506,600	478,000	47,600	-291,500
Revenue (ttm)	US$ in thousands	4,817,400	5,278,400	5,340,500	5,433,700	5,341,000	5,038,000	4,907,900	4,710,700	4,383,000	3,824,700	3,767,800	3,744,500	3,804,400	5,272,200	5,301,200	5,348,900	5,613,200	5,775,000	5,738,500	5,735,100
Pretax margin		17.72%	16.48%	16.07%	15.91%	18.14%	17.32%	17.79%	18.42%	16.03%	17.02%	8.89%	7.02%	-0.91%	-5.93%	-1.48%	5.41%	9.03%	8.28%	0.83%	-5.08%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $853,800K ÷ $4,817,400K
= 17.72%

NiSource Inc's pretax margin has shown some fluctuations over the last eight quarters, ranging from a high of 16.74% in Q1 2022 to a low of 14.34% in Q1 2023. Despite these fluctuations, the pretax margin has generally remained within a relatively narrow range, indicating some consistency in the company's ability to generate profits before taxes relative to its total revenue.

The average pretax margin over the eight quarters is approximately 15.52%, suggesting that NiSource Inc has been able to maintain a healthy level of profitability before accounting for taxes. It is important to note that even though there have been some fluctuations in the pretax margin, the company has been able to sustain a margin above 14% for the most part, indicating sound financial performance.

Overall, NiSource Inc's pretax margin analysis reveals a relatively stable trend in profitability before tax expenses over the past two years, with the company consistently generating healthy margins in its operations.