• Moody's average pre-tax profit margin for 2023 was 31.45%, a 12.44% increase from 2022.
• Moody's average pre-tax profit margin for 2022 was 35.92%, a 19.35% decline from 2021.
• Moody's average pre-tax profit margin for 2021 was 44.54%, a 7.25% decline from 2020.

Pre-tax profit margin can be defined as earnings before taxes as a portion of total revenue.