Paycom Soft (PAYC)

Gross profit 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
Gross profit (ttm)	US$ in thousands	1,415,414	1,366,568	1,307,473	1,240,852	1,161,180	1,088,953	1,024,022	962,970	892,869	875,305	827,411	774,001	750,499	722,961	706,095	697,885	655,388	588,209	551,018	515,071
Revenue (ttm)	US$ in thousands	1,691,704	1,627,240	1,554,308	1,470,341	1,373,921	1,289,146	1,211,791	1,137,067	1,054,755	990,668	931,006	870,744	841,015	813,477	792,091	779,562	736,337	693,260	651,802	611,547
Gross profit margin		83.67%	83.98%	84.12%	84.39%	84.52%	84.47%	84.50%	84.69%	84.65%	88.36%	88.87%	88.89%	89.24%	88.87%	89.14%	89.52%	89.01%	84.85%	84.54%	84.22%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,415,414K ÷ $1,691,704K
= 83.67%

Paycom Software Inc has shown a consistent and high gross profit margin over the past eight quarters. The company's gross profit margin has ranged from 86.79% to 87.69% during this period, indicating efficient cost management and strong pricing power. The slight fluctuations in the gross profit margin are within a narrow range and do not suggest any significant concerns. Overall, the company's ability to maintain a gross profit margin above 86% reflects its competitive positioning and ability to generate profits from its core operations.