Robert Half International Inc (RHI)

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	576,583	659,550	748,831	838,453	896,955	915,999	918,033	881,062	803,768	711,211	586,063	440,225	421,882	446,544	507,816	609,895	625,515	626,251	614,374	604,346
Revenue (ttm)	US$ in thousands	6,416,490	6,668,700	6,933,560	7,152,300	7,246,140	7,284,310	7,161,310	6,878,200	6,461,620	5,995,740	5,473,040	5,001,040	5,110,270	5,343,560	5,706,820	6,115,820	6,078,200	6,022,480	5,936,540	5,877,170
Pretax margin		8.99%	9.89%	10.80%	11.72%	12.38%	12.57%	12.82%	12.81%	12.44%	11.86%	10.71%	8.80%	8.26%	8.36%	8.90%	9.97%	10.29%	10.40%	10.35%	10.28%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $576,583K ÷ $6,416,490K
= 8.99%

Robert Half Inc's pretax margin has shown a downward trend over the past eight quarters, decreasing from 12.39% in Q4 2022 to 9.02% in Q4 2023. This indicates that the company's profitability before accounting for taxes has been decreasing. The decline in pretax margin could be attributed to various factors such as increasing operating expenses, lower revenue growth, or inefficiencies in cost management. It is essential for the company to closely monitor and address the reasons behind this trend to improve its financial performance and increase profitability in the future.