Pfizer Inc (PFE)

Pretax margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	1,004,000	34,700,000	23,831,000	9,529,000	16,609,000
Revenue	US$ in thousands	58,496,000	100,330,000	81,288,000	41,651,000	50,108,000
Pretax margin		1.72%	34.59%	29.32%	22.88%	33.15%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $1,004,000K ÷ $58,496,000K
= 1.72%

The pretax margin, which indicates the percentage of each dollar of revenue that represents profit before taxes, for Pfizer Inc. has fluctuated over the past five years. In 2023, the pretax margin dropped significantly to 1.81% from 34.62% in 2022, displaying a substantial decrease in profitability. This decrease may be attributed to various factors such as changes in operating expenses, taxes, or non-operating income. It is essential for investors and stakeholders to closely monitor the trend in pretax margins to assess Pfizer Inc.'s operational efficiency and profitability.