Strategic Education Inc (STRA)

Pretax margin

		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	Mar 31, 2020
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	161,432	178,759	166,640	144,827	100,726	73,097	54,171	56,348	69,569	71,455	69,410	74,702	76,599	50,631	61,465	82,042	113,957	150,160	157,069	140,756
Revenue (ttm)	US$ in thousands	1,219,930	1,211,176	1,191,154	1,166,568	1,132,924	1,100,160	1,077,347	1,063,231	1,065,480	1,067,641	1,074,596	1,100,205	1,131,686	1,127,081	1,096,029	1,052,687	1,027,653	1,023,931	1,026,652	1,015,931
Pretax margin		13.23%	14.76%	13.99%	12.41%	8.89%	6.64%	5.03%	5.30%	6.53%	6.69%	6.46%	6.79%	6.77%	4.49%	5.61%	7.79%	11.09%	14.67%	15.30%	13.85%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $161,432K ÷ $1,219,930K
= 13.23%

The pretax margin of Strategic Education Inc shows fluctuations over the periods provided. Starting at 13.85% on March 31, 2020, it increased to 15.30% by June 30, 2020, showcasing improved profitability. However, the margin slightly decreased to 14.67% by September 30, 2020.

There was a significant decline in pretax margin to 11.09% by December 31, 2020, followed by a further drop to 7.79% on March 31, 2021, and 5.61% on June 30, 2021. This downward trend continued until September 30, 2021, when the pretax margin reached its low point at 4.49%.

From December 31, 2021, there was a slight recovery in the pretax margin, increasing to 6.77% by that date and maintaining a range between 6.46% to 6.79% until September 30, 2022. The margin increased to 8.89% by December 31, 2023, displaying a more significant recovery.

In subsequent quarters, the pretax margin continued to improve, hitting 14.76% by September 30, 2024, before slightly decreasing to 13.23% by December 31, 2024. Overall, the company experienced varying levels of pretax profitability during the period, with some quarters showing notable improvements and others facing challenges in maintaining margins.