Tegna Inc (TGNA)

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	606,923	832,839	612,436	637,071	375,657
Revenue	US$ in thousands	2,738,030	3,105,220	2,805,440	2,727,490	2,119,510
Pretax margin		22.17%	26.82%	21.83%	23.36%	17.72%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $606,923K ÷ $2,738,030K
= 22.17%

TEGNA Inc's pretax margin has fluctuated over the past five years, ranging from a low of 16.34% in 2019 to a high of 25.42% in 2022. The pretax margin measures the company's efficiency in generating profits before taxes relative to its total revenue. A higher pretax margin indicates that the company is more effective at controlling costs and operating efficiently.

In 2023, TEGNA Inc's pretax margin decreased to 20.84% from the previous year's high of 25.42%. This decline may suggest factors such as increased operating expenses, lower revenue growth, or changes in the tax environment impacting the company's profitability. Despite the slight decrease in 2023, the pretax margin remains relatively healthy compared to previous years, indicating that TEGNA Inc continues to maintain a reasonable level of profitability.

Overall, TEGNA Inc's pretax margin trend shows some variability, but the company has generally been able to generate profits before taxes at a reasonable rate over the past five years. It will be important for stakeholders to closely monitor future financial performance to ensure sustained profitability and efficiency in the company's operations.