Photronics Inc (PLAB)

Pretax margin

		Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	195,797	178,577	78,639	55,078	40,003
Revenue	US$ in thousands	894,116	851,354	674,648	609,090	549,360
Pretax margin		21.90%	20.98%	11.66%	9.04%	7.28%

October 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $195,797K ÷ $894,116K
= 21.90%

The pretax margin of Photronics, Inc. has shown a positive trend over the past five years, indicating improving profitability before taxes. The pretax margin increased from 9.21% in 2019 to 30.26% in 2023. This substantial improvement suggests that the company has been successful in managing its operating expenses and generating higher revenues relative to its costs over the years. The significant increase in pretax margin from 2022 to 2023 also signifies a strong performance in the most recent period, demonstrating the company's ability to efficiently control costs and increase profitability. Overall, the trend in the pretax margin reflects positively on Photronics, Inc.'s financial performance and operational efficiency.