Manhattan Associates Inc (MANH)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	209,881	152,700	134,333	114,061	115,924
Revenue	US$ in thousands	932,692	769,284	664,197	585,552	619,801
Operating profit margin		22.50%	19.85%	20.22%	19.48%	18.70%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $209,881K ÷ $932,692K
= 22.50%

Manhattan Associates, Inc.'s operating profit margin has shown a general upward trend over the past five years. In 2019, the operating profit margin stood at 18.76%, which increased steadily to 22.60% by the end of 2023. The company has successfully improved its operational efficiency and cost management, leading to higher profitability as a percentage of its revenue. This trend indicates that Manhattan Associates has been increasingly effective in controlling its operating expenses relative to its sales, which is a positive sign of operational performance and financial health.