UFP Technologies Inc (UFPT)

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	53,902	52,718	21,205	16,283	23,646
Revenue	US$ in thousands	398,082	374,929	206,246	178,831	197,707
Pretax margin		13.54%	14.06%	10.28%	9.11%	11.96%

December 31, 2023 calculation

Pretax margin = EBT ÷ Revenue
= $53,902K ÷ $398,082K
= 13.54%

The pretax margin of UFP Technologies Inc has displayed fluctuations over the past five years. It increased from 11.96% in 2019 to 14.06% in 2022, indicating improved profitability. However, there was a slight decline to 13.54% in 2023. Overall, the company has maintained a relatively stable pretax margin above 10% during this period, suggesting efficient cost management and profitability levels that warrant further analysis to understand the underlying factors influencing the company's financial performance.