Perdoceo Education Corp (PRDO)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	150,446	129,637	149,016	142,934	86,462
Revenue	US$ in thousands	732,186	695,895	693,473	689,494	631,716
Operating profit margin		20.55%	18.63%	21.49%	20.73%	13.69%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $150,446K ÷ $732,186K
= 20.55%

The operating profit margin of Perdoceo Education Corporation has exhibited a fluctuating trend over the past five years. In 2019, the operating profit margin was at 13.77%, which increased to 20.89% in 2020, reflecting an improvement in the company's operational efficiency. This positive trend continued in 2021 with a margin of 21.50%, indicating further enhancement in profitability.

However, in 2022, there was a slight decrease in the operating profit margin to 19.08%, suggesting potential challenges in controlling operating expenses or generating sufficient revenue. Nonetheless, in 2023, the company saw a notable increase in the operating profit margin to 23.20%, signaling a rebound in profitability and operational performance.

Overall, despite some fluctuations, Perdoceo Education Corporation has generally maintained a strong operating profit margin over the years, which indicates effective management of operating costs and a healthy revenue generation capacity.