Stryker Corporation (SYK)

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	3,673,000	3,208,000	3,155,000	2,976,000	2,683,000	2,679,000	2,358,000	2,300,000	2,281,000	2,195,000	2,480,000	1,731,000	1,954,000	2,219,000	2,020,000	2,672,000	2,562,000	2,283,000	2,236,000	2,294,000
Revenue (ttm)	US$ in thousands	20,498,000	19,885,000	19,455,000	18,952,000	18,449,000	17,948,000	17,629,000	17,430,000	17,108,000	16,669,000	16,246,000	14,716,000	14,351,000	14,220,000	14,070,000	14,956,000	14,884,000	14,549,000	14,204,000	13,876,000
Pretax margin		17.92%	16.13%	16.22%	15.70%	14.54%	14.93%	13.38%	13.20%	13.33%	13.17%	15.27%	11.76%	13.62%	15.60%	14.36%	17.87%	17.21%	15.69%	15.74%	16.53%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $3,673,000K ÷ $20,498,000K
= 17.92%

The pretax margin of Stryker Corp. has shown a generally positive trend over the past eight quarters. The company's pretax margin has been gradually increasing from 13.20% in Q1 2022 to 17.92% in Q4 2023. This indicates that Stryker Corp. has been effectively managing its operating expenses and generating higher profits before taxes in relation to its revenue.

The consistent improvement in pretax margin suggests that the company has been able to efficiently control its costs while increasing its earnings. This may be due to factors such as operational efficiency, cost management strategies, and potentially higher revenue generation.

Overall, the increasing pretax margin for Stryker Corp. reflects positively on the company's financial performance and indicates its ability to maintain profitability and potentially reinvest in further growth opportunities.