PulteGroup Inc (PHM)

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	3,449,267	3,666,269	3,630,232	3,541,792	3,439,563	3,131,660	2,940,785	2,715,685	2,509,844	2,177,677	2,041,442	1,858,978	1,728,695	1,640,896	1,522,875	1,386,642	1,339,576	1,233,116	1,251,658	1,340,052
Revenue (ttm)	US$ in thousands	16,211,570	17,278,700	17,170,230	16,861,230	16,435,110	15,472,220	15,056,210	14,535,940	14,116,210	12,760,680	12,236,590	11,470,890	11,036,080	10,860,630	10,616,030	10,511,230	10,212,940	10,195,180	10,134,190	10,214,930
Pretax margin		21.28%	21.22%	21.14%	21.01%	20.93%	20.24%	19.53%	18.68%	17.78%	17.07%	16.68%	16.21%	15.66%	15.11%	14.35%	13.19%	13.12%	12.10%	12.35%	13.12%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $3,449,267K ÷ $16,211,570K
= 21.28%

PulteGroup Inc's pretax margin has shown a consistent upward trend over the past eight quarters, ranging from 18.88% in Q1 2022 to 21.64% in Q3 2023. This indicates the company's ability to effectively control its operating costs and generate higher profits before accounting for taxes. The steady increase in pretax margin reflects PulteGroup's improved operational efficiency and profitability over the analyzed period. It suggests that the company has managed its expenses well and has been able to generate more income from its operations.