United Therapeutics Corporation (UTHR)

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	1,274,300	1,157,700	1,118,400	933,800	950,600	912,300	804,200	870,100	593,900	567,800	582,400	499,800	638,900	822,500	770,400	886,900	64,700	142,800	116,000	83,500
Revenue (ttm)	US$ in thousands	2,268,200	2,147,800	2,060,800	1,939,800	1,903,900	1,743,300	1,676,600	1,657,700	1,666,900	1,751,900	1,687,000	1,601,600	1,491,500	1,399,000	1,425,300	1,442,500	1,448,800	1,519,100	1,530,300	1,601,200
Pretax margin		56.18%	53.90%	54.27%	48.14%	49.93%	52.33%	47.97%	52.49%	35.63%	32.41%	34.52%	31.21%	42.84%	58.79%	54.05%	61.48%	4.47%	9.40%	7.58%	5.21%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,274,300K ÷ $2,268,200K
= 56.18%

The pretax margin of United Therapeutics Corp has shown some variability over the past eight quarters. The company's pretax margin ranged from a low of 44.96% in Q2 2022 to a high of 54.75% in Q4 2023. Generally, the pretax margin has been relatively stable, hovering around the 50% mark, indicating that the company has been effectively managing its operating expenses in relation to its pre-tax income. The upward trend in pretax margin from Q2 2022 to Q4 2023 suggests that the company may have implemented cost control measures or improved revenue generation strategies during this period. Overall, the pretax margin performance of United Therapeutics Corp reflects a level of efficiency in its operations, as it has consistently maintained a healthy margin above 45% over the past two years.