TYL · Tyler Technologies Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.33B | $2.14B | $1.95B | $1.85B | $1.59B | $1.12B |
| Cost of Revenue | $1.25B | $1.20B | $1.09B | $1.07B | $882.64M | $574.15M |
| Gross Profit | $1.08B | $935.76M | $861.10M | $783.86M | $709.64M | $542.51M |
| R&D | - | - | - | - | - | - |
| SG&A | $316.45M | $300.94M | $308.57M | $161.09M | $390.58M | $259.56M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $138.36M | $143.44M | $154.08M | $159.07M | $135.62M | $81.66M |
| Operating Income | $357.68M | $299.53M | $218.54M | $214.25M | $180.74M | $172.93M |
| Interest Expense | $5.00M | $5.93M | - | - | - | - |
| Income Tax | $74.72M | $45.14M | $32.32M | $23.35M | ($2.48M) | ($19.78M) |
| Net Income | $315.60M | $263.03M | $165.92M | $164.24M | $161.46M | $194.82M |
| EPS - Basic | $7.32 | $6.17 | $3.95 | $3.95 | $3.95 | $4.87 |
| EPS - Diluted | $7.20 | $6.05 | $3.88 | $3.87 | $3.82 | $4.69 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.02B | $744.72M | $165.49M | $173.86M | $309.17M | $603.62M |
| Accounts Receivable | $638.80M | $587.63M | $619.70M | $577.26M | $521.06M | $382.32M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $174.65M | $156.82M | $146.34M | $104.81M | $119.99M | $14.01M |
| Current Assets | $1.84B | $1.44B | $860.59M | $847.24M | $964.33M | $1.11B |
| Total Assets | $5.64B | $5.18B | $4.68B | $4.69B | $4.73B | $2.61B |
| Current Liabilities | $1.76B | $1.07B | $1.00B | $889.70M | $829.50M | $564.28M |
| Long-term Debt | $599.66M | $597.93M | $596.21M | $957.39M | $718.51M | - |
| Total Liabilities | $1.94B | $1.79B | $1.74B | $2.06B | $2.41B | - |
| Stockholders' Equity | $3.70B | $3.39B | $2.94B | $2.62B | $2.32B | $1.99B |
| Retained Earnings | $2.18B | $1.87B | $1.60B | $1.44B | $1.27B | $1.11B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $653.54M | $624.63M | $380.44M | $381.45M | $371.75M | $355.09M |
| Investing Cash Flow | ($222.49M) | ($67.61M) | ($76.96M) | ($172.53M) | ($2.09B) | ($98.32M) |
| Financing Cash Flow | ($160.37M) | $22.21M | ($311.84M) | ($344.24M) | $1.42B | $114.17M |
| CapEx | $16.02M | $20.54M | $20.52M | $22.53M | $33.92M | $22.69M |
| Free Cash Flow | $637.53M | $604.10M | $359.92M | $358.93M | $337.83M | $332.40M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 46.5% | 43.8% | 44.1% | 42.4% | 44.6% | 48.6% |
| Operating margin | 15.3% | 14.0% | 11.2% | 11.6% | 11.4% | 15.5% |
| EBITDA margin | 21.3% | 20.7% | 19.1% | 20.2% | 19.9% | 22.8% |
| Net margin | 13.5% | 12.3% | 8.5% | 8.9% | 10.1% | 17.4% |
| Free cash flow margin | 27.3% | 28.3% | 18.4% | 19.4% | 21.2% | 29.8% |
| FCF / Net income | 2.02 | 2.30 | 2.17 | 2.19 | 2.09 | 1.71 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 13.6% | 14.1% | 15.8% | 8.7% | 24.5% | 23.2% |
| Effective tax rate | 19.1% | 14.6% | 16.3% | 12.4% | -1.6% | -11.3% |
| Return on assets | 5.6% | 5.1% | 3.5% | 3.5% | 3.4% | 7.5% |
| Return on equity | 8.5% | 7.8% | 5.6% | 6.3% | 6.9% | 9.8% |
| Return on invested capital | 6.7% | 6.4% | 5.2% | 5.2% | 5.9% | - |
| Liquidity | ||||||
| Current ratio | 1.05 | 1.35 | 0.86 | 0.95 | 1.16 | 1.97 |
| Quick ratio | 1.05 | 1.35 | 0.86 | 0.95 | 1.16 | 1.97 |
| Cash ratio | 0.58 | 0.70 | 0.17 | 0.20 | 0.37 | 1.07 |
| Leverage | ||||||
| Debt / Equity | 0.16 | 0.18 | 0.20 | 0.36 | 0.31 | - |
| Debt / Assets | 0.11 | 0.12 | 0.13 | 0.20 | 0.15 | - |
| Debt / EBITDA | 1.21 | 1.35 | 1.60 | 2.56 | 2.27 | - |
| Interest coverage | 71.6x | 50.5x | - | - | - | - |
| Equity multiplier | 1.52 | 1.53 | 1.59 | 1.79 | 2.04 | 1.31 |
| Liabilities / Assets | 0.34 | 0.35 | 0.37 | 0.44 | 0.51 | - |
| Efficiency | ||||||
| Asset turnover | 0.41 | 0.41 | 0.42 | 0.39 | 0.34 | 0.43 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 100d | 100d | 116d | 114d | 119d | 125d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 51d | 48d | 49d | 36d | 50d | 9d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 63.0x | 95.3x | 107.8x | 83.3x | 140.8x | 93.1x |
| P / B | 5.4x | 7.4x | 6.1x | 5.2x | 9.8x | 9.1x |
| P / S | 8.5x | 11.7x | 9.2x | 7.4x | 14.3x | 16.2x |
| EV / EBITDA | 39.3x | 56.3x | 49.1x | 38.7x | 73.1x | 68.8x |
| Growth | ||||||
| Revenue growth (YoY) | 9.1% | 9.5% | 5.5% | 16.2% | 42.6% | 2.8% |
| Revenue CAGR (3y) | 8.0% | 10.3% | 20.5% | 19.4% | 28.0% | 9.9% |
| Revenue CAGR (5y) | 15.9% | 14.5% | 20.8% | 17.1% | 16.1% | 21.8% |
| Gross profit growth (YoY) | 15.8% | 8.7% | 9.9% | 10.5% | 30.8% | 5.0% |
| Operating income growth (YoY) | 19.4% | 37.1% | 2.0% | 18.5% | 4.5% | 10.6% |
| Net income growth (YoY) | 20.0% | 58.5% | 1.0% | 1.7% | -17.1% | 33.0% |
| EPS growth (YoY) | 19.0% | 55.9% | 0.3% | 1.3% | -18.6% | 28.5% |
| EPS CAGR (3y) | 23.0% | 16.6% | -6.1% | 2.0% | 1.3% | 3.9% |
| EPS CAGR (5y) | 9.0% | 10.6% | 1.1% | -1.5% | 6.3% | 21.5% |
| FCF growth (YoY) | 5.5% | 67.8% | 0.3% | 6.2% | 1.6% | 52.8% |
| FCF CAGR (5y) | 13.9% | 22.7% | 10.1% | 19.3% | 17.0% | 34.1% |
| Book value growth (YoY) | 9.3% | 15.3% | 11.9% | 12.9% | 17.0% | 22.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.32B totalEnterprise Software Segment$1.69B · 72.9%
Platform Technologies Segment$628.55M · 27.1%
Product / service
$3.39B totalSubscription And Circulation$1.59B · 46.8%
Saas Arrangements$691.29M · 20.4%
Maintenance$445.61M · 13.1%
Transaction Based Fees$318.14M · 9.4%
Professional Services$242.70M · 7.2%
Hardware And Other$45.01M · 1.3%
Product$35.31M · 1.0%
License$13.05M · 0.4%
Software Licenses And Royalties$12.82M · 0.4%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.75
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing TYLER TECHNOLOGIES INC against the 5 most active filers in the same SIC group.
Dividends
$0.00/share trailing 12 months
| Ex-date | Per share |
|---|---|
| Jan 31, 1990 | $0.0067 |
| Nov 2, 1989 | $0.0067 |
| Apr 26, 1989 | $0.0050 |
| Feb 1, 1989 | $0.0050 |
| Nov 3, 1988 | $0.0050 |
| Aug 22, 1988 | $3.3333 |
| Aug 9, 1988 | $0.0367 |
| Apr 27, 1988 | $0.0367 |
| Feb 3, 1988 | $0.0367 |
| Oct 29, 1987 | $0.0367 |
| Jul 29, 1987 | $0.0333 |
| Apr 29, 1987 | $0.0333 |
| Feb 4, 1987 | $0.0333 |