NYSE : TYL
Tyler Technologies, Inc. — Financial statements
Technology · Software - Application · United States
Last price 394.3 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 15.68B
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Financial statements
Tyler Technologies, Inc. (TYL) reported revenue of 2.48B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.48B | 2.33B | 2.14B | 1.95B | 1.85B | 1.59B |
| Cost of Revenue | 1.30B | 1.25B | 1.20B | 1.09B | 1.07B | 882.64M |
| Gross Profit | 1.18B | 1.08B | 935.76M | 861.10M | 783.86M | 709.64M |
| Selling, General & Admin | 493.06M | 464.30M | 458.67M | 458.35M | 403.07M | 390.58M |
| Research & Development | 240.02M | 204.59M | 117.94M | 109.58M | 105.18M | 93.48M |
| Amortization of Goodwill & Intangibles | 60.16M | 56.42M | 59.63M | 74.63M | 61.36M | 44.85M |
| Operating Expenses | 793.25M | 725.31M | 636.24M | 642.56M | 569.61M | 528.91M |
| Operating Income | 390.43M | 358.39M | 299.53M | 218.54M | 214.25M | 180.74M |
| Interest Expense | -9.06M | -5.00M | -5.93M | -23.63M | -28.38M | -23.30M |
| Interest & Investment Income | 30.27M | 37.64M | 14.57M | 3.33M | 1.72M | 1.54M |
| EBT Excluding Unusual Items | 411.64M | 391.03M | 308.17M | 198.24M | 187.59M | 158.98M |
| Merger & Restructuring Charges | -3.51M | -714.00K | ||||
| Pretax Income | 433.17M | 390.32M | 308.17M | 198.24M | 187.59M | 158.98M |
| Income Tax Expense | 97.88M | 74.72M | 45.14M | 32.32M | 23.35M | -2.48M |
| Net Income | 335.30M | 315.60M | 263.03M | 165.92M | 164.24M | 161.46M |
| Net Income to Common | 335.30M | 315.60M | 263.03M | 165.92M | 164.24M | 161.46M |
| Shares Outstanding (Basic) | 41.67M | 43.09M | 42.61M | 42.02M | 41.54M | 40.85M |
| Shares Outstanding (Diluted) | 41.99M | 43.81M | 43.50M | 42.77M | 42.40M | 42.24M |
| EPS (Basic) | 8.05 | 7.32 | 6.17 | 3.95 | 3.95 | 3.95 |
| EPS (Diluted) | 7.98 | 7.20 | 6.05 | 3.88 | 3.87 | 3.82 |
| Free Cash Flow | 740.99M | 637.53M | 604.10M | 359.92M | 358.93M | 337.83M |
| Free Cash Flow Per Share | 17.65 | 14.55 | 13.89 | 8.41 | 8.46 | 8.00 |
| Gross Margin | 47.70% | 46.46% | 43.77% | 44.12% | 42.37% | 44.57% |
| Operating Margin | 15.73% | 15.37% | 14.01% | 11.20% | 11.58% | 11.35% |
| Profit Margin | 13.51% | 13.53% | 12.30% | 8.50% | 8.88% | 10.14% |
| Free Cash Flow Margin | 29.86% | 27.33% | 28.26% | 18.44% | 19.40% | 21.22% |
| EBITDA | 476.88M | 434.79M | 385.59M | 323.00M | 313.20M | 268.43M |
| EBITDA Margin | 19.22% | 18.64% | 18.04% | 16.55% | 16.93% | 16.86% |
| D&A For EBITDA | 86.45M | 76.40M | 86.07M | 104.46M | 98.95M | 87.70M |
| EBIT | 390.43M | 358.39M | 299.53M | 218.54M | 214.25M | 180.74M |
| EBIT Margin | 15.73% | 15.37% | 14.01% | 11.20% | 11.58% | 11.35% |
| Effective Tax Rate | 22.60% | 19.14% | 14.65% | 16.30% | 12.45% | |
| Revenue as Reported | 2.48B | 2.33B | 2.14B | 1.95B | 1.85B | 1.59B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 788.22M | 1.02B | 744.72M | 165.49M | 173.86M | 309.17M |
| Short-Term Investments | 91.17M | 81.80M | 23.26M | 10.38M | 37.03M | 52.30M |
| Cash & Short-Term Investments | 879.39M | 1.10B | 767.98M | 175.88M | 210.89M | 361.47M |
| Accounts Receivable | 684.18M | 638.80M | 587.63M | 619.70M | 577.26M | 521.06M |
| Other Receivables | 9.47M | 23.75M | 11.97M | 18.14M | ||
| Receivables | 693.64M | 662.55M | 599.61M | 619.70M | 577.26M | 539.20M |
| Prepaid Expenses | 78.19M | 74.73M | 65.14M | 54.70M | 50.86M | 55.51M |
| Other Current Assets | 10.74M | 9.41M | 8.06M | 10.30M | 8.24M | 8.15M |
| Total Current Assets | 1.66B | 1.84B | 1.44B | 860.59M | 847.24M | 964.33M |
| Property, Plant & Equipment | 198.37M | 195.96M | 195.21M | 208.76M | 223.78M | 220.91M |
| Long-Term Investments | 25.29M | 60.70M | 10.76M | 7.05M | 18.51M | 46.35M |
| Goodwill | 2.77B | 2.59B | 2.53B | 2.53B | 2.49B | 2.36B |
| Other Intangible Assets | 883.63M | 848.78M | 908.08M | 995.99M | 1.05B | 1.08B |
| Long-Term Accounts Receivable | 16.57M | 5.97M | 7.15M | 8.99M | 8.27M | 13.94M |
| Other Long-Term Assets | 89.44M | 93.60M | 86.38M | 63.18M | 49.96M | 45.97M |
| Total Assets | 5.65B | 5.64B | 5.18B | 4.68B | 4.69B | 4.73B |
| Accounts Payable | 178.51M | 174.65M | 156.82M | 146.34M | 104.81M | 119.99M |
| Accrued Expenses | 211.61M | 190.69M | 197.71M | 158.56M | 131.94M | 158.42M |
| Current Portion of Long-Term Debt | 599.66M | 49.80M | 30.00M | 30.00M | ||
| Current Portion of Leases | 11.18M | 9.60M | 9.64M | 11.06M | 10.74M | 10.56M |
| Current Income Taxes Payable | 2.47M | 43.67M | ||||
| Current Unearned Revenue | 846.28M | 780.84M | 701.44M | 632.91M | 568.54M | 510.53M |
| Total Current Liabilities | 1.25B | 1.76B | 1.07B | 1.00B | 889.70M | 829.50M |
| Long-Term Debt | 1.41B | 597.93M | 596.21M | 957.39M | 1.31B | |
| Long-Term Leases | 34.01M | 33.35M | 30.79M | 39.82M | 48.05M | 36.34M |
| Long-Term Unearned Revenue | 17.97M | 20.99M | 22.38M | 291.00K | 2.04M | 38.00K |
| Long-Term Deferred Tax Liabilities | 110.45M | 95.06M | 47.50M | 78.59M | 148.89M | 228.09M |
| Other Long-Term Liabilities | 34.97M | 31.28M | 27.38M | 22.62M | 16.97M | 2.89M |
| Total Liabilities | 2.86B | 1.94B | 1.79B | 1.74B | 2.06B | 2.41B |
| Common Stock | 481.00K | 481.00K | 481.00K | 481.00K | 481.00K | 481.00K |
| Additional Paid-In Capital | 1.48B | 1.62B | 1.54B | 1.35B | 1.21B | 1.08B |
| Retained Earnings | 2.45B | 2.18B | 1.87B | 1.60B | 1.44B | 1.27B |
| Treasury Stock | -1.14B | -96.20M | -18.00M | -20.72M | -22.83M | -25.67M |
| Comprehensive Income & Other | -578.00K | -11.00K | -157.00K | -326.00K | -844.00K | -46.00K |
| Shareholders' Equity | 2.79B | 3.70B | 3.39B | 2.94B | 2.62B | 2.32B |
| Total Liabilities & Equity | 5.65B | 5.64B | 5.18B | 4.68B | 4.69B | 4.73B |
| Total Debt | 1.46B | 642.61M | 638.37M | 696.89M | 1.05B | 1.39B |
| Net Cash (Debt) | -575.91M | 454.59M | 129.61M | -521.01M | -835.29M | -1.03B |
| Net Cash Per Share | -13.72 | 10.38 | 2.98 | -12.18 | -19.70 | -24.30 |
| Filing Date Shares Outstanding | 39.76M | 42.99M | 43.01M | 42.28M | 41.82M | 41.35M |
| Total Common Shares Outstanding | 39.84M | 43.12M | 42.96M | 42.29M | 41.78M | 41.32M |
| Working Capital | 414.39M | 88.44M | 375.17M | -140.55M | -42.45M | 134.83M |
| Book Value Per Share | 70.04 | 85.87 | 78.87 | 69.47 | 62.81 | 56.25 |
| Tangible Book Value | -863.45M | 263.99M | -51.31M | -590.11M | -915.27M | -1.12B |
| Tangible Book Value Per Share | -21.67 | 6.12 | -1.19 | -13.95 | -21.91 | -27.03 |
| Land | 23.18M | 23.16M | 22.91M | 22.91M | 22.52M | |
| Buildings | 178.59M | 181.07M | 172.09M | 159.06M | 154.22M | |
| Machinery | 129.13M | 133.87M | 153.28M | 161.54M | 145.83M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 335.30M | 315.60M | 263.03M | 165.92M | 164.24M | 161.46M |
| Depreciation & Amortization | 96.68M | 85.90M | 95.00M | 121.15M | 111.92M | 97.91M |
| Other Amortization | 59.87M | 61.96M | 57.37M | 49.62M | 60.12M | 47.93M |
| Loss (Gain) From Sale of Investments | -25.06M | -8.00K | 24.00K | 1.00K | 45.00K | |
| Stock-Based Compensation | 158.68M | 151.28M | 122.81M | 108.34M | 102.98M | 104.73M |
| Provision & Write-off of Bad Debts | 14.65M | 14.65M | -5.50M | 8.23M | 2.78M | 2.83M |
| Other Operating Activities | 59.05M | 43.93M | -30.46M | -73.23M | -87.19M | -13.27M |
| Change in Accounts Receivable | -35.79M | -61.69M | 28.80M | -39.88M | -51.41M | 17.61M |
| Change in Accounts Payable | 29.51M | 17.84M | 10.51M | 41.48M | -17.54M | -44.95M |
| Change in Unearned Revenue | 53.87M | 70.29M | 90.78M | 58.51M | 59.46M | 44.87M |
| Change in Income Taxes | 26.54M | -12.00M | -14.44M | -41.20M | 61.94M | 10.26M |
| Change in Other Net Operating Assets | -15.26M | -34.21M | 6.72M | -18.51M | -25.90M | -57.62M |
| Operating Cash Flow | 758.03M | 653.54M | 624.63M | 380.44M | 381.45M | 371.75M |
| Capital Expenditures | -17.04M | -16.02M | -20.54M | -20.52M | -22.53M | -33.92M |
| Cash Acquisitions | -287.55M | -83.65M | -1.40M | -62.76M | -163.92M | -2.09B |
| Sale (Purchase) of Intangibles | -5.81M | -16.78M | -29.40M | -32.49M | -27.62M | -21.69M |
| Investment in Securities | 22.73M | -106.58M | -16.45M | 38.80M | 41.10M | 54.00M |
| Other Investing Activities | 5.00K | 526.00K | 173.00K | 13.00K | 443.00K | 384.00K |
| Investing Cash Flow | -287.66M | -222.49M | -67.61M | -76.96M | -172.53M | -2.09B |
| Long-Term Debt Issued | 1.50B | |||||
| Long-Term Debt Repaid | -50.00M | -345.00M | -360.00M | -145.00M | ||
| Net Debt Issued (Repaid) | 837.50M | -50.00M | -345.00M | -360.00M | 1.35B | |
| Issuance of Common Stock | 9.36M | 21.99M | 74.84M | 33.16M | 16.65M | 109.87M |
| Repurchase of Common Stock | -1.14B | -174.65M | -890.00K | -12.98M | ||
| Other Financing Activities | -222.40M | -7.71M | -2.64M | -27.16M | ||
| Financing Cash Flow | -516.25M | -160.37M | 22.21M | -311.84M | -344.24M | 1.42B |
| Net Cash Flow | -45.88M | 270.68M | 579.23M | -8.36M | -135.31M | -294.45M |
| Free Cash Flow | 740.99M | 637.53M | 604.10M | 359.92M | 358.93M | 337.83M |
| Free Cash Flow Margin | 29.86% | 27.33% | 28.26% | 18.44% | 19.40% | 21.22% |
| Free Cash Flow Per Share | 17.65 | 14.55 | 13.89 | 8.41 | 8.46 | 8.00 |
| Levered Free Cash Flow | 689.58M | 503.55M | 536.34M | 390.88M | 367.57M | 358.32M |
| Unlevered Free Cash Flow | 695.24M | 506.67M | 540.04M | 405.65M | 385.30M | 372.88M |
| Cash Interest Paid | 1.96M | 2.16M | 3.10M | 19.15M | 21.26M | 17.73M |
| Cash Income Tax Paid | 13.10M | 40.76M | 84.20M | 142.82M | 38.49M | 2.21M |
| Change in Working Capital | 58.87M | -19.77M | 122.36M | 411.00K | 26.55M | -29.83M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 16.06B | 19.53B | 24.68B | 17.61B | 13.43B | 22.04B |
| Enterprise Value | 16.64B | 19.23B | 24.78B | 18.26B | 14.34B | 23.24B |
| Last Close Price | 403.94 | 453.95 | 576.64 | 418.12 | 322.41 | 537.95 |
| PE Ratio | 50.60 | 61.89 | 93.83 | 106.15 | 81.74 | 136.53 |
| Forward PE | 26.95 | 37.47 | 54.96 | 49.51 | 42.64 | 69.20 |
| PS Ratio | 6.47 | 8.38 | 11.54 | 9.02 | 7.26 | 13.84 |
| PB Ratio | 5.77 | 5.28 | 7.28 | 6.00 | 5.12 | 9.48 |
| P/TBV Ratio | 73.99 | |||||
| P/FCF Ratio | 21.67 | 30.64 | 40.85 | 48.94 | 37.40 | 65.25 |
| P/OCF Ratio | 21.19 | 29.89 | 39.51 | 46.30 | 35.20 | 59.30 |
| PEG Ratio | 1.74 | 2.42 | 3.86 | 3.47 | 2.44 | 3.95 |
| EV/Sales Ratio | 6.70 | 8.24 | 11.59 | 9.36 | 7.75 | 14.59 |
| EV/EBITDA Ratio | 34.89 | 44.22 | 64.26 | 56.53 | 45.77 | 86.56 |
| EV/EBIT Ratio | 42.61 | 53.64 | 82.72 | 83.55 | 66.91 | 128.56 |
| EV/FCF Ratio | 22.45 | 30.16 | 41.02 | 50.73 | 39.94 | 68.78 |
| Debt / Equity Ratio | 0.52 | 0.17 | 0.19 | 0.24 | 0.40 | 0.60 |
| Debt / EBITDA Ratio | 2.96 | 1.43 | 1.61 | 2.02 | 3.16 | 4.90 |
| Debt / FCF Ratio | 1.96 | 1.01 | 1.06 | 1.94 | 2.92 | 4.11 |
| Net Debt / Equity Ratio | 0.21 | -0.12 | -0.04 | 0.18 | 0.32 | 0.44 |
| Net Debt / EBITDA Ratio | 1.21 | -1.05 | -0.34 | 1.61 | 2.67 | 3.83 |
| Net Debt / FCF Ratio | 0.78 | -0.71 | -0.21 | 1.45 | 2.33 | 3.04 |
| Asset Turnover | 0.45 | 0.43 | 0.43 | 0.42 | 0.39 | 0.43 |
| Quick Ratio | 1.26 | 1.00 | 1.28 | 0.80 | 0.89 | 1.09 |
| Current Ratio | 1.33 | 1.05 | 1.35 | 0.86 | 0.95 | 1.16 |
| Return on Equity (ROE) | 10.49% | 8.90% | 8.31% | 5.97% | 6.64% | 7.49% |
| Return on Assets (ROA) | 4.40% | 4.14% | 3.80% | 2.92% | 2.84% | 3.08% |
| Return on Invested Capital (ROIC) | 8.77% | 8.91% | 7.61% | 5.29% | 5.51% | 7.72% |
| Return on Capital Employed (ROCE) | 8.90% | 9.20% | 7.30% | 5.90% | 5.60% | 4.60% |
| Earnings Yield | 1.98% | 1.62% | 1.07% | 0.94% | 1.22% | 0.73% |
| FCF Yield | 4.61% | 3.26% | 2.45% | 2.04% | 2.67% | 1.53% |
| Buyback Yield / Dilution | 4.21% | -0.72% | -1.70% | -0.87% | -0.37% | -1.73% |