In this letter, we argue and show numerically that the threshold to form primordial black holes from an initial spherically symmetric perturbation is, to an excellent approximation, universal, whenever given in terms of the compaction function averaged over a sphere of radius rm, where rm is the scale on which the compaction function is maximum. This can be understood as the requirement that, for a black hole to form, each shell of the averaged compaction function should have an amplitude exceeding the so-called Harada-Yoo-Kohri limit. For a radiation dominated universe we argued, supported by numerical evidence, that this limit is δc = 0.40, which is slightly below the one quoted in the literature. Additionally, we show that the profile dependence of the threshold for the compaction function is only sensitive to its curvature at the maximum. We use these results to provide an analytic formula for the threshold amplitude of the compaction function at its maximum in terms of the normalised compaction function curvature at rm.