Teleflex Incorporated (TFX)

Pretax margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before tax but after interest (EBT)	US$ in thousands	432,768	446,142	559,723	357,255	339,388
Revenue	US$ in thousands	2,908,220	2,757,200	2,758,900	2,489,840	2,525,140
Pretax margin		14.88%	16.18%	20.29%	14.35%	13.44%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $432,768K ÷ $2,908,220K
= 14.88%

Teleflex Incorporated's pretax margin has shown fluctuations over the past five years. In 2023, the pretax margin was 14.59%, a decrease from 15.98% in 2022. This decline may indicate challenges in managing operating expenses or reducing costs relative to revenue. However, compared to 2021 and 2020, where the pretax margins were 19.91% and 14.10% respectively, the company's profitability in 2023 remains relatively stable. The upward trend from 2019 to 2021 suggests that Teleflex Incorporated had been effectively managing costs and improving operational efficiency, resulting in higher profitability during those years. Further analysis into the factors influencing the pretax margin in 2023 would be necessary to understand the specific reasons behind the decrease and to assess the company's overall financial performance.