2023 BPS Study

Profitability

Pre-Tax Profit

35.5%

33.3%

33.2%

27.4%

26.4%

24.4%

23.4%

22.4%

21.9%

20.9%

19.7%

14.3%

< $1.25M

$1.25-$2.5M

$2.5-$5M

$5-$10M

$10-$25M

> $25M

Average Top Quartile

Pro Forma Pre-Tax Profit

37.9%

33.2%

32.5%

28.6%

28.0%

26.7%

24.3%

22.8%

22.5%

22.1%

22.1%

15.8%

< $1.25M

$1.25-$2.5M

$2.5-$5M

$5-$10M

$10-$25M

> $25M

Average Top Quartile

Operating Profit

25.8%

25.5%

22.8%

22.4%

19.8%

15.4%

14.9%

14.2%

13.2%

13.0%

12.9%

8.3%

< $1.25M

$1.25-$2.5M

$2.5-$5M

$5-$10M

$10-$25M

> $25M

Average Top Quartile

Note : Operating Profit is pre-tax profit less contingent income and less bonus/override income.

Pro Forma Operating Profit

31.1%

25.7%

23.1%

22.2%

21.6%

18.7%

15.6%

15.6%

15.4%

15.2%

15.0%

9.8%

< $1.25M

$1.25-$2.5M

$2.5-$5M

$5-$10M

$10-$25M

> $25M

Average Top Quartile

Cross Category Comparison

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