Robert Half International Inc (RHI)

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	555,493	640,075	733,838	827,757	890,614	914,484	918,781	882,839	805,825	712,941	587,591	441,251	421,758	445,264	505,513	606,666	621,751	622,431	610,678	600,787
Revenue (ttm)	US$ in thousands	6,416,490	6,668,700	6,933,560	7,152,300	7,246,140	7,284,310	7,161,310	6,878,200	6,461,620	5,995,740	5,473,040	5,001,040	5,110,270	5,343,560	5,706,820	6,115,820	6,078,200	6,022,480	5,936,540	5,877,170
Operating profit margin		8.66%	9.60%	10.58%	11.57%	12.29%	12.55%	12.83%	12.84%	12.47%	11.89%	10.74%	8.82%	8.25%	8.33%	8.86%	9.92%	10.23%	10.34%	10.29%	10.22%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $555,493K ÷ $6,416,490K
= 8.66%

The operating profit margin of Robert Half Inc has shown a declining trend over the past eight quarters. In Q4 2023, the operating profit margin stood at 7.27%, which is lower compared to the previous quarter at 8.60%. This downward trend has been consistent since Q1 2022 when the operating profit margin was at its highest at 13.82%.

The company's profitability in terms of operating profit margin has been gradually decreasing, indicating that the company may be facing challenges in generating profits from its core operations. A lower operating profit margin could be a result of increased operating expenses, lower sales revenues, or inefficiencies in cost management.

It is essential for Robert Half Inc to closely monitor its operating profit margin and identify the factors contributing to the decline. By addressing underlying issues and implementing strategies to improve profitability, the company can work towards achieving a more sustainable operating profit margin in the future.