STERIS plc (STE)

Pretax margin

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	796,205	789,471	740,015	695,277	677,932	682,478	663,527	180,311	157,348	33,691	55,762	478,431	314,503	378,742	335,763	379,942	515,717	528,026	522,548	506,069
Revenue (ttm)	US$ in thousands	5,459,510	5,398,370	5,423,440	5,436,890	5,441,930	5,407,380	5,227,730	5,085,890	4,957,840	4,783,690	4,776,670	4,773,130	4,585,062	4,247,903	3,847,857	3,407,009	3,107,519	3,056,979	3,022,316	3,003,024
Pretax margin		14.58%	14.62%	13.64%	12.79%	12.46%	12.62%	12.69%	3.55%	3.17%	0.70%	1.17%	10.02%	6.86%	8.92%	8.73%	11.15%	16.60%	17.27%	17.29%	16.85%

March 31, 2025 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $796,205K ÷ $5,459,510K
= 14.58%

The pretax margin of STERIS plc has shown variability over the periods analyzed. From June 30, 2020, to September 30, 2021, the pretax margin remained relatively stable, ranging between 16.85% and 17.29%. However, there was a noticeable decline in profitability from September 30, 2021, to December 31, 2022, with pretax margins dropping to as low as 0.70%.

Subsequently, there was a recovery in the pretax margin, reaching 14.58% by March 31, 2025. The fluctuations in pretax margin indicate changes in the company's profitability and efficiency in generating earnings before taxes relative to its revenue during the period under review. Further analysis would be needed to understand the factors behind these fluctuations and to assess the company's overall financial performance.