Papa John's International Inc (PZZA)

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	102,972	101,273	92,578	101,558	82,191	84,698	106,306	113,432	146,009	130,711	117,622	103,540	72,680	51,461	32,043	16,110	4,255	-5,352	-26,825	-18,223
Revenue (ttm)	US$ in thousands	2,144,971	2,075,826	2,064,226	2,072,661	2,085,404	2,110,754	2,110,024	2,099,367	2,068,421	2,009,347	1,969,506	1,915,121	1,813,234	1,760,937	1,691,702	1,630,702	1,619,248	1,599,300	1,580,825	1,611,154
Pretax margin		4.80%	4.88%	4.48%	4.90%	3.94%	4.01%	5.04%	5.40%	7.06%	6.51%	5.97%	5.41%	4.01%	2.92%	1.89%	0.99%	0.26%	-0.33%	-1.70%	-1.13%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $102,972K ÷ $2,144,971K
= 4.80%

Papa John's International, Inc.'s pretax margin has shown fluctuation over the past eight quarters. In Q1 2023, the pretax margin was at its highest point in the given period at 4.91%, indicating that the company retained a larger portion of its revenue before accounting for taxes compared to other quarters. However, this was a decrease from the previous quarter, Q4 2022, which had a pretax margin of 4.85%.

Q2 2022 also represented a notable peak in pretax margin at 5.62%, suggesting strong operational efficiency and cost management during that period. However, since then, the pretax margin has been on a declining trend, with Q4 2022 marking the beginning of this downward trend at 3.99%.

Overall, the pretax margin of Papa John's International, Inc. has shown some variability over the past eight quarters, with fluctuations in performance that may be influenced by factors such as changes in operating expenses, pricing strategies, or revenue generation. Monitoring and analyzing this metric over time can provide insights into the company's operational efficiency and profitability.