• Shimano average pre-tax profit margin for 2023 was 27.1%, a 4.27% decline from 2022.
• Shimano average pre-tax profit margin for 2022 was 25.99%, a 8.38% increase from 2021.
• Shimano average pre-tax profit margin for 2021 was 23.98%, a 19.42% increase from 2020.

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