Tyler Technologies Inc (TYL)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	218,537	214,249	180,735	172,926	156,367
Revenue	US$ in thousands	1,928,120	1,821,820	1,568,990	1,116,660	1,086,430
Operating profit margin		11.33%	11.76%	11.52%	15.49%	14.39%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $218,537K ÷ $1,928,120K
= 11.33%

Over the past five years, Tyler Technologies, Inc.'s operating profit margin has displayed fluctuations. The margin stood at 11.20% in 2023, slightly lower than the previous year but relatively consistent with the margins from 2021 and 2022. Notably, there was a decline from 2019 when the margin was at its highest point of 15.49%. This trend suggests that the company may have experienced changes in its cost structure, pricing strategies, or operational efficiency over this period. Further analysis would be required to determine the specific factors driving these fluctuations in the operating profit margin.