Wyndham Hotels & Resorts Inc (WH)

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	398,000	396,000	399,000	426,000	475,000	470,000	470,000	440,000	335,000	258,000	161,000	-154,000	-158,000	-71,000	-70,000	188,000	183,000	162,000	200,000	193,000
Revenue (ttm)	US$ in thousands	1,398,000	1,397,000	1,408,000	1,437,000	1,497,000	1,584,000	1,639,000	1,641,000	1,565,000	1,461,000	1,328,000	1,192,000	1,302,000	1,491,000	1,718,000	1,995,000	2,054,000	1,988,000	2,033,000	1,951,000
Pretax margin		28.47%	28.35%	28.34%	29.65%	31.73%	29.67%	28.68%	26.81%	21.41%	17.66%	12.12%	-12.92%	-12.14%	-4.76%	-4.07%	9.42%	8.91%	8.15%	9.84%	9.89%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $398,000K ÷ $1,398,000K
= 28.47%

The pretax margin of Wyndham Hotels & Resorts Inc has been relatively stable over the past eight quarters, averaging around 28% - 30%. It reached its peak in Q4 2022 at 31.78% and has since slightly decreased, with the latest reported figure being 28.49% in Q4 2023.

This indicates that the company has been able to efficiently manage its operating expenses in relation to its total revenue, generating a healthy level of profitability before taxes. However, the slight decline in pretax margin in the most recent quarter may warrant further investigation to assess any underlying factors impacting profitability. Overall, a pretax margin above 28% demonstrates solid operational performance and cost management by Wyndham Hotels & Resorts Inc.