Paycom Soft (PAYC)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	340,788	281,389	195,960	143,453	180,576
Revenue	US$ in thousands	1,690,500	1,374,390	1,054,600	839,422	735,275
Net profit margin		20.16%	20.47%	18.58%	17.09%	24.56%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $340,788K ÷ $1,690,500K
= 20.16%

Paycom Software Inc's net profit margin has shown variability over the past five years, ranging from a high of 24.47% in 2019 to a low of 17.05% in 2020. The trend indicates some fluctuations in the company's ability to convert revenue into profits during this period. In 2023, the net profit margin was 20.12%, slightly lower than the previous year's figure of 20.46%. This suggests that the company was able to maintain relatively strong profitability despite a slight decrease in the net profit margin from the previous year. Overall, Paycom Software Inc has demonstrated consistent profitability, with net profit margins generally above 17% in the last five years.