Qualys Inc (QLYS)

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	178,651	133,700	89,397	102,037	79,983
Revenue	US$ in thousands	554,458	489,723	411,172	362,963	321,607
Pretax margin		32.22%	27.30%	21.74%	28.11%	24.87%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $178,651K ÷ $554,458K
= 32.22%

The pretax margin of Qualys Inc has shown a generally positive trend over the past five years, with fluctuations in certain years. In 2023, the pretax margin increased to 32.22% from 27.30% in 2022, indicating improved efficiency in managing operating expenses relative to revenue. This represents a significant improvement compared to 2021 when the pretax margin was 21.74%.

However, it is worth noting that the pretax margin in 2020 was higher at 28.11% compared to 2023, demonstrating some volatility in the company's profitability performance. In 2019, the pretax margin was slightly lower at 24.87% compared to 2023.

Overall, the upward trend in Qualys Inc's pretax margin over the years indicates a strengthening of the company's profitability and effective cost management measures. Further analysis of the underlying factors contributing to these changes would provide a more in-depth understanding of the company's financial performance.