Texas Instruments Incorporated (TXN)

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	7,418,000	8,037,000	8,773,000	9,452,000	10,032,000	10,328,000	9,945,000	9,506,000	8,919,000	8,383,000	7,695,000	6,732,000	6,017,000	5,347,000	5,340,000	5,575,000	5,728,000	5,974,000	6,318,000	6,510,000
Revenue (ttm)	US$ in thousands	17,508,000	18,112,000	18,821,000	19,502,000	20,028,000	20,190,000	19,592,000	18,960,000	18,344,000	17,588,000	16,762,000	15,421,000	14,461,000	13,735,000	13,689,000	14,118,000	14,383,000	14,750,000	15,240,000	15,589,000
Pretax margin		42.37%	44.37%	46.61%	48.47%	50.09%	51.15%	50.76%	50.14%	48.62%	47.66%	45.91%	43.65%	41.61%	38.93%	39.01%	39.49%	39.82%	40.50%	41.46%	41.76%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $7,418,000K ÷ $17,508,000K
= 42.37%

The pretax margin of Texas Instruments Inc. has shown a declining trend over the past eight quarters, decreasing from 50.09% in Q4 2022 to 42.34% in Q4 2023. This indicates that the company's profitability before taxes has been gradually eroding. The highest pretax margin was observed in Q1 2022 at 48.47%, followed by a general downward trend in subsequent quarters. This decline may suggest increasing costs, competitive pressures, or other factors affecting the company's ability to generate profits before accounting for tax expenses. Investors and stakeholders should closely monitor this trend to assess the company's financial health and performance.