STERIS plc (STE)

Pretax margin

		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	Mar 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	521,791	681,274	663,028	180,785	158,565	34,855	56,952	479,861	315,521	380,252	336,657	380,500	518,063	529,061	523,933	507,231	498,554	484,310
Revenue (ttm)	US$ in thousands	5,138,700	5,000,560	4,815,270	4,777,590	4,750,690	4,680,130	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	3,030,895	2,976,117
Pretax margin		10.15%	13.62%	13.77%	3.78%	3.34%	0.74%	1.19%	10.05%	6.88%	8.95%	8.75%	11.17%	16.67%	17.31%	17.34%	16.89%	16.45%	16.27%

March 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $521,791K ÷ $5,138,700K
= 10.15%

The pretax margin of STERIS plc has exhibited some variation over the past several quarters. It reached its highest level at 17.34% in September 2020, followed by a slight decrease in the subsequent quarter. However, the pretax margin experienced a significant decline in the first quarter of 2021, dropping to just 0.74%.

Subsequently, there was a notable recovery in the pretax margin, with a consistent increase over the next few quarters, reaching a peak of 13.77% in September 2023. However, in the most recent quarter, the pretax margin decreased to 10.15%.

Overall, the pretax margin of STERIS plc has shown variability in recent periods, with both peaks and troughs. It would be important to further analyze the company's financial performance and the factors impacting its profitability to understand the reasons behind these fluctuations.