Taylor Morn Home (TMHC)

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	1,017,026	1,160,808	1,332,354	1,406,328	1,389,228	1,353,369	1,174,404	947,590	843,767	628,014	555,318	475,998	318,029	254,891	196,752	223,438	322,010	302,269	311,864	280,553
Revenue (ttm)	US$ in thousands	7,417,820	7,890,090	8,249,190	8,183,650	8,224,910	8,238,200	8,062,310	7,786,570	7,501,260	6,553,340	6,394,020	6,201,420	6,129,310	6,038,250	5,443,920	5,182,670	4,762,062	4,753,472	4,684,752	4,400,150
Pretax margin		13.71%	14.71%	16.15%	17.18%	16.89%	16.43%	14.57%	12.17%	11.25%	9.58%	8.68%	7.68%	5.19%	4.22%	3.61%	4.31%	6.76%	6.36%	6.66%	6.38%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,017,026K ÷ $7,417,820K
= 13.71%

Taylor Morrison Home Corp.'s pretax margin has shown a fluctuating trend over the past eight quarters. The pretax margin decreased from 16.93% in Q4 2022 to 12.38% in Q1 2022, indicating a decline in profitability during the start of 2022. However, the company managed to improve its pretax margin in the following quarters, reaching 16.15% in Q2 2023 and then 17.21% in Q1 2023, showcasing a positive trend in profitability. The highest pretax margin of 17.21% was achieved in Q1 2023, suggesting improved cost management or revenue generation during that period. Overall, while the pretax margin has shown variability, the recent quarters demonstrate a positive trend in profitability for Taylor Morrison Home Corp.