Perdoceo Education Corp (PRDO)

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	192,121	194,172	177,376	137,488	134,269	144,616	150,650	151,903	149,067	151,149	146,557	149,028	146,740	143,465	136,618	99,922	92,410	79,933	73,992	83,940
Revenue (ttm)	US$ in thousands	710,100	738,611	727,380	708,577	695,895	679,743	684,837	692,577	693,473	704,470	700,359	701,320	689,033	676,325	662,738	643,733	629,803	616,857	606,556	591,042
Pretax margin		27.06%	26.29%	24.39%	19.40%	19.29%	21.28%	22.00%	21.93%	21.50%	21.46%	20.93%	21.25%	21.30%	21.21%	20.61%	15.52%	14.67%	12.96%	12.20%	14.20%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $192,121K ÷ $710,100K
= 27.06%

Perdoceo Education Corporation's pretax margin has shown fluctuations over the past eight quarters. In Q4 2023, the pretax margin reached its highest point at 27.06%, indicating that the company was able to effectively control its operating expenses relative to its revenue before tax. This represented an improvement compared to the preceding quarter, Q3 2023, when the pretax margin was slightly lower at 26.30%.

Looking further back to Q2 and Q1 2023, the pretax margins were 24.41% and 19.42%, respectively, indicating a downward trend during that period. However, it is worth noting that the pretax margin in Q1 2023 was a significant improvement compared to Q4 2022 when it stood at 19.31%.

Comparing these recent figures to the previous quarters in 2022, Perdoceo Education Corporation's pretax margin has displayed some variability. Q3 and Q2 2022 saw pretax margins of 21.30% and 22.01%, respectively, showing a gradual decline before a slight uptick in Q1 2022 when the pretax margin was at 21.94%.

Overall, the pretax margin trend suggests that Perdoceo Education Corporation has been managing its operating costs effectively, with some fluctuations observed over the quarters. Investors and stakeholders may want to consider the factors influencing these changes in pretax margin to gauge the company's operational efficiency and profitability.