Ultra Clean Holdings Inc (UCTT)

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	-20,200	78,300	147,400	96,900	600
Revenue	US$ in thousands	1,734,500	2,374,300	2,101,600	1,398,600	1,066,200
Pretax margin		-1.16%	3.30%	7.01%	6.93%	0.06%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $-20,200K ÷ $1,734,500K
= -1.16%

The pretax margin of Ultra Clean Holdings Inc has shown fluctuations over the past five years. In 2023, the pretax margin was negative at -1.16%, representing a decline from the previous year's pretax margin of 3.30% in 2022. The pretax margin was highest in 2021 at 7.01%, followed closely by 2020 at 6.93%. Prior to 2020, the pretax margin was significantly lower, with a marginal pretax margin of 0.06% in 2019.

Overall, the trend indicates variability in the company's ability to generate profit before taxes as a percentage of its revenue. The negative pretax margin in 2023 suggests that the company incurred more expenses than the revenues it generated in that year, impacting its profitability. It would be important to further investigate the factors contributing to this decline in pretax margin to understand the company's financial performance in depth.