PACCAR Inc (PCAR)

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	5,718,200	5,252,400	4,642,700	3,996,300	3,848,700	3,333,700	2,841,200	2,559,400	2,396,300	2,258,500	2,261,200	1,804,900	1,658,800	1,823,900	2,111,600	2,742,000	3,099,200	3,163,800	3,055,000	2,960,200
Revenue (ttm)	US$ in thousands	35,127,400	34,180,300	32,542,800	30,820,400	28,819,700	27,376,300	25,464,200	24,149,400	23,522,300	22,404,800	22,194,000	19,412,300	18,728,500	19,277,100	20,708,100	24,273,800	25,599,700	25,762,200	25,152,000	24,329,300
Pretax margin		16.28%	15.37%	14.27%	12.97%	13.35%	12.18%	11.16%	10.60%	10.19%	10.08%	10.19%	9.30%	8.86%	9.46%	10.20%	11.30%	12.11%	12.28%	12.15%	12.17%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $5,718,200K ÷ $35,127,400K
= 16.28%

Paccar Inc.'s pretax margin has shown a consistent upward trend over the past eight quarters, indicating improving profitability before taxes. The company's pretax margin increased from 10.53% in Q1 2022 to 16.28% in Q4 2023. This steady improvement suggests efficient cost management and/or revenue growth relative to the company's operating income. The company's ability to maintain a pretax margin above 10% for several quarters reflects a healthy financial performance and operational efficiency. Overall, Paccar Inc.'s pretax margin demonstrates a positive trajectory and may indicate strong financial health and effective management decisions.