Perdoceo Education Corp (PRDO)

Operating 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
Operating income (ttm)	US$ in thousands	150,446	157,177	143,428	129,280	129,637	141,539	150,076	152,092	149,016	150,629	144,842	146,248	142,934	138,758	130,978	93,794	86,462	74,632	69,621	80,740
Revenue (ttm)	US$ in thousands	710,100	738,611	727,380	708,577	695,895	679,743	684,837	692,577	693,473	704,470	700,359	701,320	689,033	676,325	662,738	643,733	629,803	616,857	606,556	591,042
Operating profit margin		21.19%	21.28%	19.72%	18.25%	18.63%	20.82%	21.91%	21.96%	21.49%	21.38%	20.68%	20.85%	20.74%	20.52%	19.76%	14.57%	13.73%	12.10%	11.48%	13.66%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $150,446K ÷ $710,100K
= 21.19%

Perdoceo Education Corporation's operating profit margin has experienced fluctuations over the past eight quarters, ranging from a low of 18.77% in Q1 2023 to a high of 23.20% in Q4 2023. The company's operating profit margin peaked in Q4 2023, indicating that a higher proportion of sales revenue was converted into operating profits during that period compared to the previous quarters. However, it is worth noting that the operating profit margin had been relatively stable in the mid to high 20% range in previous quarters of 2022 before experiencing some decline in 2023.

The downward trend in operating profit margin from Q2 2023 to Q1 2023 suggests that the company may have faced challenges in controlling operating expenses or generating sufficient operating income during that period. Conversely, the upward trend from Q1 2023 to Q4 2023 indicates an improvement in efficiency and profitability.

Overall, Perdoceo Education Corporation's operating profit margin performance reflects variability but also some resilience and improvement in recent quarters. Further analysis of the company's cost structure and revenue generation may provide additional insights into the factors influencing these fluctuations in operating profit margin.