Nextracker Inc. Class A Common Stock (NXT)

Pretax margin

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	648,016	732,418	738,981	687,197	607,997	364,995	259,244	211,999	169,083	136,170	92,157	73,872	65,108	99,434	123,894	145,322	158,030
Revenue (ttm)	US$ in thousands	2,959,197	2,771,370	2,802,433	2,740,219	2,499,841	2,281,721	2,084,665	1,978,450	1,902,137	1,823,555	1,647,792	1,519,349	1,457,592	1,322,607	1,289,828	1,240,884	1,195,617
Pretax margin		21.90%	26.43%	26.37%	25.08%	24.32%	16.00%	12.44%	10.72%	8.89%	7.47%	5.59%	4.86%	4.47%	7.52%	9.61%	11.71%	13.22%

March 31, 2025 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $648,016K ÷ $2,959,197K
= 21.90%

Nextracker Inc. Class A Common Stock has shown fluctuating pretax margins over the past few years. From March 31, 2021, to December 31, 2023, the pretax margin declined gradually from 13.22% to 16.00%. This downward trend reversed from March 31, 2024, as the pretax margin saw a significant increase to 24.32%, reaching its peak at 26.43% by December 31, 2024. However, the pretax margin declined to 21.90% by March 31, 2025. Overall, the pretax margin performance shows variations over time, indicating potential shifts in profitability and efficiency in generating profits before accounting for taxes.