Tyler Technologies (TYL) Financials

$555.95 -4.86 (-0.87%)

Closing price 08/28/2025 03:59 PM Eastern

Extended Trading

$556.41 +0.46 (+0.08%)

As of 08:23 AM Eastern

Annual Income Statements for Tyler Technologies

This table shows Tyler Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-207	65	114	170	147	147	195	161	164	166	263
Consolidated Net Income / (Loss)	59	65	114	170	147	147	195	161	164	166	263
Net Income / (Loss) Continuing Operations	-207	65	114	170	147	147	195	161	164	166	263
Total Pre-Tax Income	94	108	136	163	156	160	175	159	188	198	308
Total Operating Income	95	108	138	163	152	156	173	181	214	219	300
Total Gross Profit	-26	277	359	399	440	517	543	710	784	861	936
Total Revenue	493	591	760	841	935	1,086	1,117	1,592	1,850	1,952	2,138
Operating Revenue	493	591	760	841	935	1,086	1,117	1,592	1,850	1,952	2,138
Total Cost of Revenue	519	314	401	442	496	570	574	883	1,066	1,091	1,202
Operating Cost of Revenue	519	314	401	442	496	570	574	883	1,066	1,091	1,202
Total Operating Expenses	145	169	222	237	287	361	370	529	570	643	636
Selling, General & Admin Expense	108	133	165	176	208	258	161	272	267	309	301
Marketing Expense	-	-	-	-	-	-	98	119	136	150	158
Research & Development Expense	26	30	43	47	63	81	88	93	105	110	118
Amortization Expense	11	5.91	13	13	16	21	22	45	61	75	60
Total Other Income / (Expense), net	-0.36	0.38	-2.00	0.70	3.38	3.47	2.12	-22	-27	-20	8.64
Interest Expense	-	-	-	-	-	2.03	1.01	23	28	24	5.93
Other Income / (Expense), net	-0.36	0.38	-2.00	0.70	3.38	5.50	3.13	1.54	1.72	3.33	15
Income Tax Expense	36	44	22	-6.12	8.41	13	-20	-2.48	23	32	45
Basic Earnings per Share	$1.79	$1.90	$3.12	$4.55	$3.84	$3.79	$4.87	$3.95	$3.95	$3.95	$6.17
Weighted Average Basic Shares Outstanding	33.01M	34.14M	36.83M	37.27M	38.45M	39.40M	40.58M	41.35M	41.82M	42.28M	43.01M
Diluted Earnings per Share	$1.66	$1.77	$2.92	$4.32	$3.68	$3.65	$4.69	$3.82	$3.87	$3.88	$6.05
Weighted Average Diluted Shares Outstanding	33.01M	34.14M	36.83M	37.27M	38.45M	39.40M	40.58M	41.35M	41.82M	42.28M	43.01M
Weighted Average Basic & Diluted Shares Outstanding	33.01M	34.14M	36.83M	37.27M	38.45M	39.40M	40.58M	41.35M	41.82M	42.28M	43.01M

This table shows Tyler Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	31	31	49	47	39	54	68	76	65	81	85
Consolidated Net Income / (Loss)	31	31	49	47	39	54	68	76	65	81	85
Net Income / (Loss) Continuing Operations	31	31	49	47	39	54	68	76	65	81	85
Total Pre-Tax Income	34	39	56	59	45	67	79	86	77	95	103
Total Operating Income	41	45	62	64	48	67	78	83	72	89	96
Total Gross Profit	193	200	223	225	213	224	238	237	237	267	273
Total Revenue	452	472	504	495	481	512	541	543	541	565	596
Operating Revenue	452	472	504	495	481	512	541	543	541	565	596
Total Cost of Revenue	259	272	281	270	268	289	303	306	304	298	323
Operating Cost of Revenue	259	272	281	270	268	289	303	306	304	298	323
Total Operating Expenses	153	155	161	161	165	157	160	155	165	178	178
Selling, General & Admin Expense	67	72	78	79	80	73	75	72	80	79	77
Marketing Expense	35	37	37	36	40	36	42	38	42	36	36
Research & Development Expense	33	27	28	28	26	29	29	30	29	48	51
Amortization Expense	18	18	18	19	19	18	14	14	14	14	14
Total Other Income / (Expense), net	-7.09	-6.44	-5.74	-5.02	-3.10	-0.34	0.63	3.27	5.08	6.12	6.92
Interest Expense	8.10	7.68	6.39	5.81	3.75	2.18	1.25	1.24	1.26	1.25	1.26
Other Income / (Expense), net	1.01	1.25	0.64	0.79	0.65	1.85	1.88	4.50	6.34	7.36	8.18
Income Tax Expense	2.54	7.67	7.00	12	5.75	12	11	10	12	14	18
Basic Earnings per Share	$0.74	$0.74	$1.17	$1.12	$0.92	$1.28	$1.59	$1.78	$1.52	$1.88	$1.96
Weighted Average Basic Shares Outstanding	41.82M	41.93M	42.08M	42.12M	42.28M	42.46M	42.67M	42.80M	43.01M	43.12M	43.26M
Diluted Earnings per Share	$0.73	$0.73	$1.15	$1.10	$0.90	$1.26	$1.57	$1.74	$1.48	$1.84	$1.93
Weighted Average Diluted Shares Outstanding	41.82M	41.93M	42.08M	42.12M	42.28M	42.46M	42.67M	42.80M	43.01M	43.12M	43.26M
Weighted Average Basic & Diluted Shares Outstanding	41.82M	41.93M	42.08M	42.12M	42.28M	42.46M	42.67M	42.80M	43.01M	43.12M	43.26M

This table details how cash moves in and out of Tyler Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	127	-173	3.06	150	-52	98	371	-294	-135	-8.36	579
Net Cash From Operating Activities	143	134	192	196	250	255	355	372	381	380	625
Net Cash From Continuing Operating Activities	143	134	192	196	250	255	355	372	381	380	625
Net Income / (Loss) Continuing Operations	59	65	114	170	147	147	195	161	164	166	263
Consolidated Net Income / (Loss)	59	65	114	170	147	147	195	161	164	166	263
Depreciation Expense	15	20	50	53	62	77	82	136	159	154	143
Amortization Expense	-	-	-	-	-	-	5.78	10	13	17	8.93
Non-Cash Adjustments To Reconcile Net Income	17	22	34	39	52	67	71	108	106	117	118
Changes in Operating Assets and Liabilities, net	53	28	-5.85	-67	-11	-35	1.95	-43	-61	-73	92
Net Cash From Investing Activities	-12	-398	-51	-85	-238	-245	-98	-2,091	-173	-77	-68
Net Cash From Continuing Investing Activities	-12	-398	-51	-85	-238	-245	-98	-2,091	-173	-77	-68
Purchase of Property, Plant & Equipment	-9.34	-13	-38	-43	-27	-42	-28	-56	-50	-53	-50
Acquisitions	-3.24	-340	-9.39	-11	-178	-219	-11	-2,090	-164	-63	-1.40
Purchase of Investments	0.00	-47	-20	-60	-116	-55	-157	-77	-30	-11	-32
Sale and/or Maturity of Investments	0.81	0.90	17	29	81	71	83	131	71	49	16
Other Investing Activities, net	0.22	0.01	-0.12	-0.00	1.68	-0.30	0.31	0.38	0.44	0.01	0.17
Net Cash From Financing Activities	-3.99	91	-138	39	-64	89	114	1,425	-344	-312	22
Net Cash From Continuing Financing Activities	-3.99	91	-138	39	-64	89	114	1,425	-344	-312	22
Repayment of Debt	0.00	-2.13	-56	-10	0.00	0.00	0.00	-172	-360	-345	-53
Issuance of Common Equity	4.14	4.67	6.24	7.04	8.05	9.58	11	13	17	16	18
Other Financing Activities, net	15	23	24	50	75	97	119	97	-0.89	17	57
Cash Interest Paid	-	-	-	-	-	-	0.61	18	21	19	3.10
Cash Income Taxes Paid	-	-	-	-	-	-	3.26	2.21	38	143	84

This table details how cash moves in and out of Tyler Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-12	-43	-12	13	34	23	62	288	206	-39	82
Net Cash From Operating Activities	122	75	-19	177	147	72	64	264	225	56	98
Net Cash From Continuing Operating Activities	122	75	-19	177	147	72	64	264	225	56	98
Net Income / (Loss) Continuing Operations	31	31	49	47	39	54	68	76	65	81	85
Consolidated Net Income / (Loss)	31	31	49	47	39	54	68	76	65	81	85
Depreciation Expense	42	38	38	38	40	40	34	35	35	35	34
Amortization Expense	3.73	3.80	2.77	5.69	4.43	2.52	2.34	2.40	1.67	2.29	2.57
Non-Cash Adjustments To Reconcile Net Income	28	28	26	27	36	27	31	31	29	38	38
Changes in Operating Assets and Liabilities, net	17	-26	-135	59	28	-52	-71	120	94	-99	-62
Net Cash From Investing Activities	-47	-0.60	0.11	-40	-36	-13	-13	-9.40	-33	-96	-13
Net Cash From Continuing Investing Activities	-47	-0.60	0.11	-40	-36	-13	-13	-9.40	-33	-96	-13
Purchase of Property, Plant & Equipment	-7.15	-11	-14	-15	-13	-15	-16	-11	-8.79	-7.89	-10
Acquisitions	-46	-1.88	-	-34	-27	-1.30	-	-0.09	-	-18	-0.21
Purchase of Investments	-9.51	-11	-	-	-	0.00	-	-	-32	-72	-35
Sale and/or Maturity of Investments	16	23	14	8.35	3.96	3.27	3.08	1.35	8.29	1.76	33
Other Investing Activities, net	0.12	0.02	-	0.03	-0.04	0.02	0.00	0.15	0.01	-0.02	0.55
Net Cash From Financing Activities	-87	-117	7.00	-125	-77	-36	11	33	15	1.02	-3.83
Net Cash From Continuing Financing Activities	-87	-117	7.00	-125	-77	-36	11	33	15	1.02	-3.83
Repayment of Debt	-90	-120	-	-135	-90	-50	-	-2.64	-	-4.48	-2.90
Issuance of Common Equity	4.04	3.04	4.71	4.03	4.42	3.55	4.92	4.35	4.81	3.97	5.35
Other Financing Activities, net	-1.19	-0.16	2.28	6.32	8.52	10	5.85	32	9.78	1.53	-4.68
Cash Income Taxes Paid	3.17	-0.55	93	25	25	-0.68	40	6.60	39	-0.32	47

This table presents Tyler Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	570	1,357	1,358	1,611	1,791	2,192	2,607	4,732	4,687	4,677	5,180
Total Current Assets	337	268	283	521	519	680	1,113	964	847	861	1,441
Cash & Equivalents	206	33	36	186	134	233	604	309	174	165	745
Short-Term Investments	-	13	20	43	44	39	72	52	37	10	23
Accounts Receivable	113	176	200	246	299	374	382	521	577	620	588
Prepaid Expenses	18	22	21	32	33	25	31	56	51	55	65
Current Deferred & Refundable Income Taxes	0.02	21	2.90	11	4.70	6.48	22	18	-	0.00	12
Other Current Assets	0.34	1.93	2.27	2.00	3.41	2.33	2.48	8.15	8.24	10	8.06
Plant, Property, & Equipment, net	66	101	124	152	155	172	168	181	173	170	164
Total Noncurrent Assets	167	987	951	938	1,117	1,340	1,326	3,587	3,667	3,646	3,575
Long-Term Investments	0.74	35	31	39	70	-	83	46	19	7.05	11
Noncurrent Note & Lease Receivables	1.76	2.78	2.48	12	16	22	21	14	8.27	8.99	7.15
Goodwill	124	654	650	658	754	840	838	2,360	2,489	2,532	2,532
Intangible Assets	35	295	267	230	277	379	331	1,081	1,050	996	908
Other Noncurrent Operating Assets	-	-	-	-	-	99	53	86	101	102	118
Total Liabilities & Shareholders' Equity	570	1,357	1,358	1,611	1,791	2,192	2,607	4,732	4,687	4,677	5,180
Total Liabilities	233	498	442	420	383	575	621	2,408	2,063	1,739	1,792
Total Current Liabilities	233	338	362	371	424	509	564	830	890	1,001	1,066
Short-Term Debt	-	-	-	-	-	-	0.00	30	30	50	0.00
Accounts Payable	4.12	6.79	7.30	8.17	6.91	15	14	120	105	146	157
Accrued Expenses	40	49	56	65	66	75	83	158	132	159	198
Current Deferred Revenue	189	282	298	299	351	412	461	511	569	633	701
Other Current Liabilities	-	-	-	-	-	6.39	5.90	11	11	11	9.64
Total Noncurrent Liabilities	0.00	160	81	48	-41	65	57	1,579	1,173	738	726
Long-Term Debt	-	66	10	0.00	0.00	0.00	0.00	593	594	596	598
Noncurrent Deferred Revenue	-	3.12	2.14	1.27	0.42	0.20	0.10	0.04	2.04	0.29	22
Noncurrent Deferred & Payable Income Tax Liabilities	-	91	69	47	42	48	41	228	149	79	48
Other Noncurrent Operating Liabilities	-	-	-	-	-	17	16	758	428	62	58
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	337	859	916	1,192	1,325	1,617	1,986	2,324	2,624	2,938	3,388
Total Preferred & Common Equity	337	859	916	1,192	1,325	1,617	1,986	2,324	2,624	2,938	3,388
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	337	859	916	1,192	1,325	1,617	1,986	2,324	2,624	2,938	3,388
Common Stock	202	608	557	627	732	740	906	1,076	1,210	1,355	1,540
Retained Earnings	261	326	436	624	772	917	1,112	1,274	1,438	1,604	1,867
Treasury Stock	-126	-75	-77	-60	-179	-40	-32	-26	-23	-21	-18
Accumulated Other Comprehensive Income / (Loss)	-0.05	-0.05	-0.05	-0.05	-0.05	-0.05	-0.05	-0.05	-0.84	-0.33	-0.16

This table presents Tyler Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	4,687	4,556	4,636	4,637	4,677	4,609	4,819	4,997	5,180	5,192	5,426
Total Current Assets	847	746	857	842	861	824	1,042	1,239	1,441	1,467	1,724
Cash & Equivalents	174	131	119	131	165	188	251	538	745	706	787
Short-Term Investments	37	29	19	12	10	8.71	7.29	5.99	23	102	105
Accounts Receivable	577	509	639	624	620	542	701	620	588	560	714
Prepaid Expenses	51	71	71	60	55	76	77	68	65	92	91
Current Deferred & Refundable Income Taxes	-	-	-	7.63	0.00	-	-	-	12	0.00	18
Other Current Assets	8.24	6.74	9.51	7.29	10	8.55	6.77	6.42	8.06	7.59	8.24
Plant, Property, & Equipment, net	173	168	166	166	170	167	168	165	164	161	161
Total Noncurrent Assets	3,667	3,642	3,613	3,630	3,646	3,617	3,610	3,593	3,575	3,564	3,541
Long-Term Investments	19	15	10	9.55	7.05	5.49	3.88	3.88	11	3.03	2.99
Noncurrent Note & Lease Receivables	8.27	9.28	8.31	10	8.99	7.34	7.93	7.33	7.15	7.21	7.02
Goodwill	2,489	2,489	2,489	2,510	2,532	2,532	2,532	2,532	2,532	2,542	2,542
Intangible Assets	1,050	1,031	1,010	1,005	996	971	952	932	908	893	868
Other Noncurrent Operating Assets	101	98	95	95	102	101	113	118	118	119	120
Total Liabilities & Shareholders' Equity	4,687	4,556	4,636	4,637	4,677	4,609	4,819	4,997	5,180	5,192	5,426
Total Liabilities	2,063	1,870	1,867	1,785	1,739	1,586	1,687	1,721	1,792	1,679	1,791
Total Current Liabilities	890	835	854	909	1,001	873	987	1,022	1,066	1,561	1,672
Short-Term Debt	30	30	30	30	50	0.00	0.00	0.00	0.00	598	599
Accounts Payable	105	122	119	133	146	145	150	145	157	171	172
Accrued Expenses	132	105	127	134	159	106	153	161	198	128	173
Current Deferred Revenue	569	497	566	600	633	572	652	682	701	642	720
Other Current Liabilities	11	11	11	12	11	11	11	11	9.64	9.28	9.00
Total Noncurrent Liabilities	1,173	1,034	1,013	876	738	713	700	700	726	118	119
Long-Term Debt	594	595	595	596	596	597	597	598	598	0.00	0.00
Noncurrent Deferred Revenue	2.04	1.60	1.16	0.73	0.29	0.00	0.00	0.00	22	22	23
Noncurrent Deferred & Payable Income Tax Liabilities	149	130	109	105	79	54	42	37	48	36	36
Other Noncurrent Operating Liabilities	428	308	307	174	62	62	61	66	58	59	59
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,624	2,686	2,768	2,853	2,938	3,023	3,132	3,275	3,388	3,513	3,635
Total Preferred & Common Equity	2,624	2,686	2,768	2,853	2,938	3,023	3,132	3,275	3,388	3,513	3,635
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,624	2,686	2,768	2,853	2,938	3,023	3,132	3,275	3,388	3,513	3,635
Common Stock	1,210	1,240	1,273	1,310	1,355	1,386	1,426	1,492	1,540	1,582	1,621
Retained Earnings	1,438	1,469	1,518	1,565	1,604	1,658	1,726	1,802	1,867	1,948	2,032
Treasury Stock	-23	-22	-22	-21	-21	-20	-19	-19	-18	-17	-18
Accumulated Other Comprehensive Income / (Loss)	-0.84	-0.75	-0.79	-0.52	-0.33	-0.27	-0.22	-0.16	-0.16	-0.08	-0.12

This table displays calculated financial ratios and metrics derived from Tyler Technologies' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.35%	19.86%	28.57%	10.66%	11.22%	16.16%	2.78%	42.59%	16.20%	5.49%	9.53%
EBITDA Growth	37.02%	17.35%	44.87%	16.94%	0.36%	9.61%	10.46%	24.53%	18.25%	1.19%	18.81%
EBIT Growth	43.53%	14.77%	25.12%	20.49%	-4.64%	3.85%	8.77%	3.54%	18.48%	2.73%	41.57%
NOPAT Growth	48.35%	9.26%	78.49%	46.35%	-14.56%	-0.64%	34.27%	-4.63%	2.19%	-2.49%	39.77%
Net Income Growth	50.74%	10.06%	75.28%	49.14%	-13.04%	-0.63%	32.96%	-17.12%	1.72%	1.02%	58.53%
EPS Growth	46.90%	6.63%	64.97%	47.95%	-14.81%	-0.82%	28.49%	-18.55%	1.31%	0.26%	55.93%
Operating Cash Flow Growth	116.13%	-5.96%	42.83%	2.03%	27.81%	1.81%	39.40%	4.69%	2.61%	-0.27%	64.19%
Free Cash Flow Firm Growth	253.72%	-771.48%	118.50%	-30.74%	-109.05%	-1,572.60%	346.43%	-464.05%	74.03%	32.17%	326.04%
Invested Capital Growth	-22.32%	548.06%	-0.54%	10.23%	16.42%	25.01%	-8.72%	106.81%	18.93%	12.64%	-5.69%
Revenue Q/Q Growth	3.51%	5.63%	5.29%	2.51%	2.67%	-17.36%	31.82%	10.42%	1.02%	1.49%	2.90%
EBITDA Q/Q Growth	4.57%	-0.09%	16.58%	2.47%	-1.23%	6.09%	2.30%	8.69%	2.84%	1.33%	4.87%
EBIT Q/Q Growth	5.34%	-3.93%	19.47%	2.37%	-3.20%	6.38%	-0.37%	-0.45%	-2.98%	3.10%	10.41%
NOPAT Q/Q Growth	8.17%	-9.05%	29.96%	21.60%	-19.22%	10.65%	5.28%	3.63%	-11.12%	2.41%	8.18%
Net Income Q/Q Growth	8.88%	-9.36%	30.27%	22.51%	-19.02%	11.61%	3.90%	0.43%	-12.61%	4.95%	11.12%
EPS Q/Q Growth	8.50%	-10.61%	29.78%	22.38%	-19.30%	10.94%	2.85%	0.00%	-12.64%	4.58%	10.60%
Operating Cash Flow Q/Q Growth	39.33%	14.20%	-6.17%	0.81%	7.51%	2.14%	3.67%	7.60%	1.83%	7.20%	14.13%
Free Cash Flow Firm Q/Q Growth	38.78%	-1,139.56%	119.82%	-22.14%	79.75%	-255.04%	173.96%	-11.81%	-44.47%	11.27%	88.84%
Invested Capital Q/Q Growth	-6.13%	472.34%	-0.35%	5.80%	-1.22%	7.24%	-7.27%	1.17%	3.29%	2.26%	-3.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-5.35%	46.90%	47.27%	47.49%	47.00%	47.58%	48.58%	44.57%	42.37%	44.12%	43.77%
EBITDA Margin	22.12%	21.66%	24.40%	25.79%	23.27%	21.96%	23.60%	20.61%	20.97%	20.12%	21.82%
Operating Margin	19.23%	18.28%	18.12%	19.36%	16.30%	14.39%	15.49%	11.35%	11.58%	11.20%	14.01%
EBIT Margin	19.16%	18.35%	17.85%	19.44%	16.67%	14.90%	15.77%	11.45%	11.67%	11.37%	14.69%
Profit (Net Income) Margin	11.95%	10.98%	14.96%	20.17%	15.77%	13.49%	17.45%	10.14%	8.88%	8.50%	12.30%
Tax Burden Percent	62.39%	59.83%	83.81%	103.74%	94.61%	91.67%	111.30%	101.56%	87.55%	83.70%	85.35%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	98.75%	99.42%	87.22%	86.86%	89.35%	98.11%
Effective Tax Rate	37.61%	40.17%	16.19%	-3.74%	5.39%	8.33%	-11.30%	-1.56%	12.45%	16.30%	14.65%
Return on Invested Capital (ROIC)	39.77%	13.29%	13.72%	19.16%	14.43%	11.84%	14.96%	9.75%	6.75%	5.70%	7.74%
ROIC Less NNEP Spread (ROIC-NNEP)	39.93%	13.08%	17.32%	18.74%	13.19%	10.62%	14.51%	17.88%	-0.90%	1.74%	12.96%
Return on Net Nonoperating Assets (RNNOA)	-19.56%	-2.44%	-0.91%	-3.07%	-2.71%	-1.88%	-4.15%	-2.25%	-0.11%	0.27%	0.58%
Return on Equity (ROE)	20.21%	10.85%	12.82%	16.09%	11.72%	9.96%	10.81%	7.49%	6.64%	5.97%	8.32%
Cash Return on Invested Capital (CROIC)	64.90%	-133.24%	14.27%	9.43%	-0.75%	-10.39%	24.08%	-59.88%	-10.54%	-6.19%	13.59%
Operating Return on Assets (OROA)	18.63%	11.26%	10.00%	11.01%	9.16%	8.13%	7.34%	4.97%	4.59%	4.74%	6.37%
Return on Assets (ROA)	11.62%	6.73%	8.38%	11.42%	8.67%	7.36%	8.12%	4.40%	3.49%	3.54%	5.34%
Return on Common Equity (ROCE)	20.21%	10.85%	12.82%	16.09%	11.72%	9.96%	10.81%	7.49%	6.64%	5.97%	8.32%
Return on Equity Simple (ROE_SIMPLE)	17.49%	7.55%	12.42%	14.23%	11.13%	9.06%	9.81%	6.95%	6.26%	5.65%	7.76%
Net Operating Profit after Tax (NOPAT)	59	65	115	169	144	143	192	184	188	183	256
NOPAT Margin	12.00%	10.94%	15.18%	20.08%	15.42%	13.19%	17.24%	11.53%	10.14%	9.37%	11.96%
Net Nonoperating Expense Percent (NNEP)	-0.16%	0.20%	-3.60%	0.42%	1.24%	1.22%	0.46%	-8.13%	7.65%	3.96%	-5.23%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	5.77%	5.10%	6.41%
Cost of Revenue to Revenue	105.35%	53.10%	52.73%	52.51%	53.00%	52.42%	51.42%	55.43%	57.63%	55.88%	56.23%
SG&A Expenses to Revenue	21.95%	22.56%	21.74%	20.92%	22.20%	23.72%	14.43%	17.08%	14.45%	15.81%	14.08%
R&D to Revenue	5.21%	5.06%	5.69%	5.63%	6.76%	7.49%	7.91%	5.87%	5.69%	5.61%	5.52%
Operating Expenses to Revenue	29.39%	28.62%	29.16%	28.14%	30.70%	33.19%	33.10%	33.22%	30.79%	32.92%	29.76%
Earnings before Interest and Taxes (EBIT)	94	108	136	163	156	162	176	182	216	222	314
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	109	128	185	217	218	239	263	328	388	393	466
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	10.72	6.93	5.74	5.54	5.39	7.31	8.92	9.57	5.14	6.02	7.32
Price to Tangible Book Value (P/TBV)	20.28	0.00	0.00	21.70	24.28	29.70	21.69	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	7.33	10.07	6.92	7.85	7.64	10.88	15.86	13.97	7.29	9.06	11.60
Price to Earnings (P/E)	0.00	91.74	46.24	38.92	48.45	80.66	90.92	137.77	82.09	106.54	94.30
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	1.09%	2.16%	2.57%	2.06%	1.24%	1.10%	0.73%	1.22%	0.94%	1.06%
Enterprise Value to Invested Capital (EV/IC)	26.18	7.04	6.18	6.85	6.41	8.59	13.81	8.85	4.60	5.33	7.68
Enterprise Value to Revenue (EV/Rev)	6.91	10.04	6.82	7.53	7.37	10.63	15.18	14.10	7.50	9.29	11.52
Enterprise Value to EBITDA (EV/EBITDA)	31.23	46.37	27.94	29.20	31.68	48.41	64.34	68.45	35.77	46.20	52.79
Enterprise Value to EBIT (EV/EBIT)	36.05	54.74	38.19	38.74	44.24	71.34	96.30	123.21	64.26	81.76	78.39
Enterprise Value to NOPAT (EV/NOPAT)	57.57	91.81	44.90	37.50	47.79	80.56	88.09	122.36	73.99	99.17	96.31
Enterprise Value to Operating Cash Flow (EV/OCF)	23.84	44.18	27.00	32.34	27.56	45.33	47.75	60.41	36.38	47.68	39.42
Enterprise Value to Free Cash Flow (EV/FCFF)	35.28	0.00	43.19	76.22	0.00	0.00	54.73	0.00	0.00	0.00	54.83
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.08	0.01	0.00	0.00	0.00	0.00	0.27	0.24	0.22	0.18
Long-Term Debt to Equity	0.00	0.08	0.01	0.00	0.00	0.00	0.00	0.26	0.23	0.20	0.18
Financial Leverage	-0.49	-0.19	-0.05	-0.16	-0.21	-0.18	-0.29	-0.13	0.12	0.15	0.04
Leverage Ratio	1.74	1.61	1.53	1.41	1.35	1.35	1.33	1.70	1.90	1.68	1.56
Compound Leverage Factor	1.74	1.61	1.53	1.41	1.35	1.34	1.32	1.49	1.65	1.50	1.53
Debt to Total Capital	0.00%	7.14%	1.08%	0.00%	0.00%	0.00%	0.00%	21.13%	19.22%	18.02%	15.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.02%	0.92%	1.39%	0.00%
Long-Term Debt to Total Capital	0.00%	7.14%	1.08%	0.00%	0.00%	0.00%	0.00%	20.12%	18.30%	16.64%	15.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	92.86%	98.92%	100.00%	100.00%	100.00%	100.00%	78.87%	80.78%	81.98%	85.00%
Debt to EBITDA	0.00	0.52	0.05	0.00	0.00	0.00	0.00	1.90	1.61	1.65	1.28
Net Debt to EBITDA	0.00	-0.12	-0.42	0.00	0.00	0.00	0.00	0.66	1.02	1.18	-0.39
Long-Term Debt to EBITDA	0.00	0.52	0.05	0.00	0.00	0.00	0.00	1.81	1.53	1.52	1.28
Debt to NOPAT	0.00	1.02	0.09	0.00	0.00	0.00	0.00	3.39	3.33	3.53	2.34
Net Debt to NOPAT	0.00	-0.25	-0.67	0.00	0.00	0.00	0.00	1.17	2.11	2.53	-0.71
Long-Term Debt to NOPAT	0.00	1.02	0.09	0.00	0.00	0.00	0.00	3.23	3.17	3.26	2.34
Altman Z-Score	11.58	8.15	8.40	10.95	12.68	13.76	18.61	6.42	4.89	7.12	9.51
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.45	0.79	0.78	1.40	1.22	1.34	1.97	1.16	0.95	0.86	1.35
Quick Ratio	1.37	0.66	0.71	1.28	1.13	1.27	1.88	1.06	0.89	0.79	1.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	97	-648	120	83	-7.52	-126	310	-1,128	-293	-199	449
Operating Cash Flow to CapEx	1,528.83%	1,074.53%	508.56%	454.64%	912.35%	605.90%	1,247.41%	668.48%	760.61%	717.69%	1,250.87%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	-62.02	305.81	-48.41	-10.32	-8.41	75.72
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	125.66	350.53	15.96	13.44	16.10	105.32
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	104.92	322.43	13.57	11.67	13.86	96.90
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.97	0.61	0.56	0.57	0.55	0.55	0.47	0.43	0.39	0.42	0.43
Accounts Receivable Turnover	4.50	4.09	4.03	3.77	3.43	3.23	2.95	3.53	3.37	3.26	3.54
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	7.54	7.08	6.74	6.08	6.08	6.64	6.57	9.12	10.45	11.40	12.82
Accounts Payable Turnover	156.18	57.54	56.90	57.08	65.73	52.04	39.61	13.17	9.49	8.69	7.93
Days Sales Outstanding (DSO)	81.14	89.25	90.47	96.91	106.36	113.05	123.62	103.54	108.34	111.92	103.07
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	2.34	6.34	6.41	6.39	5.55	7.01	9.21	27.71	38.47	42.03	46.03
Cash Conversion Cycle (CCC)	78.80	82.90	84.06	90.51	100.81	106.04	114.41	75.83	69.86	69.90	57.04
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	130	843	838	924	1,076	1,345	1,228	2,539	3,019	3,401	3,208
Invested Capital Turnover	3.31	1.21	0.90	0.95	0.94	0.90	0.87	0.85	0.67	0.61	0.65
Increase / (Decrease) in Invested Capital	-37	713	-4.57	86	152	269	-117	1,311	481	382	-193
Enterprise Value (EV)	3,406	5,935	5,181	6,332	6,895	11,548	16,954	22,459	13,878	18,140	24,623
Market Capitalization	3,613	5,951	5,258	6,599	7,144	11,820	17,713	22,244	13,483	17,676	24,803
Book Value per Share	$10.20	$25.31	$25.00	$31.72	$34.13	$41.48	$49.25	$56.72	$63.03	$69.75	$79.17
Tangible Book Value per Share	$5.39	($2.66)	($0.05)	$8.10	$7.58	$10.21	$20.25	($27.25)	($21.98)	($14.01)	($1.20)
Total Capital	337	925	926	1,192	1,325	1,617	1,986	2,947	3,249	3,584	3,986
Total Debt	0.00	66	10	0.00	0.00	0.00	0.00	623	624	646	598
Total Long-Term Debt	0.00	66	10	0.00	0.00	0.00	0.00	593	594	596	598
Net Debt	-207	-16	-77	-268	-249	-272	-758	215	395	463	-181
Capital Expenditures (CapEx)	9.34	13	38	43	27	42	28	56	50	53	50
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-102	-116	-135	-80	-84	-101	-127	-197	-223	-267	-393
Debt-free Net Working Capital (DFNWC)	104	-69	-79	149	95	171	549	165	-12	-91	375
Net Working Capital (NWC)	104	-69	-79	149	95	171	549	135	-42	-141	375
Net Nonoperating Expense (NNE)	0.22	-0.23	1.67	-0.72	-3.20	-3.18	-2.36	22	23	17	-7.38
Net Nonoperating Obligations (NNO)	-207	-16	-77	-268	-249	-272	-758	215	395	463	-181
Total Depreciation and Amortization (D&A)	15	20	50	53	62	77	87	146	172	171	152
Debt-free, Cash-free Net Working Capital to Revenue	-20.68%	-19.60%	-17.76%	-9.48%	-8.94%	-9.34%	-11.37%	-12.35%	-12.07%	-13.66%	-18.37%
Debt-free Net Working Capital to Revenue	21.13%	-11.74%	-10.34%	17.76%	10.15%	15.70%	49.15%	10.35%	-0.67%	-4.65%	17.55%
Net Working Capital to Revenue	21.13%	-11.74%	-10.34%	17.76%	10.15%	15.70%	49.15%	8.47%	-2.29%	-7.20%	17.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.79	$1.90	$3.01	$4.40	$3.84	$3.79	$4.87	$3.95	$3.95	$3.95	$6.17
Adjusted Weighted Average Basic Shares Outstanding	33.58M	36.57M	36.83M	37.90M	38.29M	39.40M	40.58M	41.35M	41.82M	42.28M	43.01M
Adjusted Diluted Earnings per Share	$1.66	$1.77	$2.82	$4.18	$3.68	$3.65	$4.69	$3.82	$3.87	$3.88	$6.05
Adjusted Weighted Average Diluted Shares Outstanding	33.58M	36.57M	36.83M	37.90M	38.29M	39.40M	40.58M	41.35M	41.82M	42.28M	43.01M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	33.58M	36.57M	36.83M	37.90M	38.29M	39.40M	40.58M	41.35M	41.82M	42.28M	43.01M
Normalized Net Operating Profit after Tax (NOPAT)	59	65	115	114	144	143	121	127	188	183	256
Normalized NOPAT Margin	12.00%	10.94%	15.18%	13.55%	15.42%	13.19%	10.84%	7.95%	10.14%	9.37%	11.96%
Pre Tax Income Margin	19.16%	18.35%	17.85%	19.44%	16.67%	14.71%	15.68%	9.98%	10.14%	10.16%	14.42%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	79.85	173.80	7.82	7.61	9.39	52.96
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	70.72	190.00	7.88	6.61	7.74	43.10
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	59.11	145.70	5.44	5.84	7.15	44.54
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	49.98	161.89	5.49	4.84	5.50	34.68
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	38.71%	0.99%	98.36%	4.41%	99.38%	12.14%	7.95%	8.04%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Tyler Technologies' official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.31%	3.45%	7.59%	4.54%	6.35%	8.58%	7.28%	9.84%	12.52%	10.31%	10.19%
EBITDA Growth	1.70%	-9.56%	6.42%	2.44%	5.87%	26.43%	13.10%	14.14%	23.36%	19.74%	20.85%
EBIT Growth	-13.70%	-17.79%	9.73%	6.03%	16.00%	48.88%	27.83%	34.93%	61.21%	40.27%	29.85%
NOPAT Growth	-38.01%	-17.05%	21.25%	-18.52%	10.55%	51.10%	24.07%	43.12%	46.40%	39.31%	17.44%
Net Income Growth	-43.27%	-22.78%	22.99%	-11.69%	25.18%	75.45%	37.88%	61.45%	67.65%	49.63%	24.93%
EPS Growth	-43.41%	-22.34%	22.34%	-12.70%	23.29%	72.60%	36.52%	58.18%	64.44%	46.03%	22.93%
Operating Cash Flow Growth	5.95%	39.54%	-125.02%	37.19%	20.98%	-3.84%	435.20%	48.58%	52.47%	-21.83%	52.88%
Free Cash Flow Firm Growth	64.59%	68.33%	-87.06%	-0.09%	23.23%	45.20%	63.52%	121.20%	174.81%	185.18%	234.70%
Invested Capital Growth	18.93%	16.68%	17.26%	13.77%	12.64%	8.94%	6.83%	-0.05%	-5.69%	-3.42%	-3.73%
Revenue Q/Q Growth	-4.43%	4.34%	6.87%	-1.90%	-2.78%	6.53%	5.59%	0.44%	-0.41%	4.44%	5.48%
EBITDA Q/Q Growth	-17.59%	0.65%	16.76%	5.77%	-14.84%	20.20%	4.45%	6.75%	-7.96%	16.68%	5.41%
EBIT Q/Q Growth	-31.65%	10.79%	35.24%	3.53%	-25.22%	42.20%	16.12%	9.28%	-10.65%	23.72%	7.50%
NOPAT Q/Q Growth	-39.90%	-4.25%	50.30%	-5.80%	-18.46%	30.87%	23.42%	8.66%	-16.59%	24.54%	4.04%
Net Income Q/Q Growth	-41.62%	-0.65%	59.13%	-4.31%	-17.25%	39.24%	25.05%	12.04%	-14.07%	24.27%	4.41%
EPS Q/Q Growth	-42.06%	0.00%	57.53%	-4.35%	-18.18%	40.00%	24.60%	10.83%	-14.94%	24.32%	4.89%
Operating Cash Flow Q/Q Growth	-5.81%	-38.69%	-125.68%	1,025.23%	-16.95%	-51.27%	-10.49%	310.11%	-14.77%	-75.02%	75.06%
Free Cash Flow Firm Q/Q Growth	-26.10%	6.87%	-2.68%	17.00%	3.27%	33.52%	31.66%	148.25%	241.29%	-24.30%	8.06%
Invested Capital Q/Q Growth	3.29%	3.89%	3.47%	2.48%	2.26%	0.48%	1.46%	-4.12%	-3.51%	2.90%	1.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.75%	42.35%	44.26%	45.52%	44.27%	43.65%	43.96%	43.70%	43.76%	47.26%	45.83%
EBITDA Margin	19.37%	18.68%	20.41%	22.01%	19.28%	21.75%	21.52%	22.87%	21.13%	23.61%	23.60%
Operating Margin	9.00%	9.53%	12.27%	12.92%	9.93%	13.07%	14.42%	15.24%	13.25%	15.78%	16.04%
EBIT Margin	9.23%	9.80%	12.40%	13.08%	10.06%	13.43%	14.77%	16.07%	14.42%	17.08%	17.41%
Profit (Net Income) Margin	6.87%	6.54%	9.74%	9.50%	8.09%	10.57%	12.52%	13.97%	12.05%	14.34%	14.20%
Tax Burden Percent	92.44%	80.11%	87.53%	79.80%	87.13%	81.29%	86.11%	88.15%	84.96%	85.06%	82.55%
Interest Burden Percent	80.58%	83.38%	89.78%	91.03%	92.25%	96.83%	98.43%	98.59%	98.39%	98.71%	98.78%
Effective Tax Rate	7.56%	19.89%	12.47%	20.20%	12.87%	18.71%	13.89%	11.85%	15.04%	14.94%	17.45%
Return on Invested Capital (ROIC)	5.54%	4.89%	6.79%	6.35%	5.26%	6.46%	7.51%	8.40%	7.28%	8.75%	8.74%
ROIC Less NNEP Spread (ROIC-NNEP)	3.39%	3.52%	5.51%	5.40%	4.63%	6.40%	7.64%	9.50%	10.34%	14.47%	38.29%
Return on Net Nonoperating Assets (RNNOA)	0.42%	0.52%	0.83%	0.85%	0.71%	0.95%	1.05%	0.81%	0.46%	0.40%	0.22%
Return on Equity (ROE)	5.96%	5.41%	7.62%	7.20%	5.97%	7.41%	8.56%	9.21%	7.74%	9.16%	8.96%
Cash Return on Invested Capital (CROIC)	-10.54%	-9.20%	-9.56%	-7.17%	-6.19%	-2.42%	-0.22%	7.15%	13.59%	11.72%	12.28%
Operating Return on Assets (OROA)	3.62%	3.94%	5.00%	5.40%	4.20%	5.84%	6.34%	6.93%	6.25%	7.64%	7.63%
Return on Assets (ROA)	2.70%	2.63%	3.93%	3.92%	3.37%	4.60%	5.37%	6.02%	5.23%	6.41%	6.22%
Return on Common Equity (ROCE)	5.96%	5.41%	7.62%	7.20%	5.97%	7.41%	8.56%	9.21%	7.74%	9.16%	8.96%
Return on Equity Simple (ROE_SIMPLE)	0.00%	5.78%	5.94%	5.54%	0.00%	6.26%	6.64%	7.23%	0.00%	8.25%	0.00%
Net Operating Profit after Tax (NOPAT)	38	36	54	51	42	54	67	73	61	76	79
NOPAT Margin	8.32%	7.64%	10.74%	10.31%	8.65%	10.63%	12.42%	13.44%	11.26%	13.42%	13.24%
Net Nonoperating Expense Percent (NNEP)	2.15%	1.37%	1.28%	0.94%	0.63%	0.07%	-0.13%	-1.10%	-3.06%	-5.71%	-29.56%
Return On Investment Capital (ROIC_SIMPLE)	1.16%	-	-	-	1.16%	-	-	-	1.53%	1.85%	1.86%
Cost of Revenue to Revenue	57.25%	57.65%	55.74%	54.48%	55.73%	56.35%	56.04%	56.30%	56.24%	52.74%	54.17%
SG&A Expenses to Revenue	14.79%	15.34%	15.40%	15.87%	16.64%	14.19%	13.94%	13.34%	14.85%	14.06%	12.85%
R&D to Revenue	7.22%	5.72%	5.58%	5.72%	5.44%	5.74%	5.35%	5.54%	5.44%	8.47%	8.53%
Operating Expenses to Revenue	33.75%	32.82%	31.99%	32.59%	34.35%	30.58%	29.54%	28.46%	30.52%	31.48%	29.79%
Earnings before Interest and Taxes (EBIT)	42	46	63	65	48	69	80	87	78	97	104
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	88	88	103	109	93	111	116	124	114	133	141
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.14	5.54	6.33	5.70	6.02	5.97	6.85	7.63	7.32	7.14	7.06
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	321.86	114.39
Price to Revenue (P/Rev)	7.29	7.97	9.22	8.46	9.06	9.06	10.57	12.02	11.60	11.45	11.42
Price to Earnings (P/E)	82.09	95.84	106.65	102.89	106.54	95.36	103.24	105.54	94.30	86.48	83.60
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.22%	1.04%	0.94%	0.97%	0.94%	1.05%	0.97%	0.95%	1.06%	1.16%	1.20%
Enterprise Value to Invested Capital (EV/IC)	4.60	4.88	5.55	5.03	5.33	5.40	6.28	7.53	7.68	7.53	7.59
Enterprise Value to Revenue (EV/Rev)	7.50	8.21	9.47	8.70	9.29	9.25	10.74	12.05	11.52	11.35	11.29
Enterprise Value to EBITDA (EV/EBITDA)	35.77	40.45	46.77	43.20	46.20	44.33	50.74	56.28	52.79	50.89	49.44
Enterprise Value to EBIT (EV/EBIT)	64.26	74.38	85.11	77.79	81.76	75.42	83.21	87.99	78.39	72.73	69.33
Enterprise Value to NOPAT (EV/NOPAT)	73.99	84.84	94.63	93.72	99.17	91.69	101.65	105.93	96.31	89.77	87.84
Enterprise Value to Operating Cash Flow (EV/OCF)	36.38	38.05	58.68	47.17	47.68	48.83	47.26	45.74	39.42	40.82	39.43
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	105.25	54.83	63.16	60.68
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.24	0.23	0.23	0.22	0.22	0.20	0.19	0.18	0.18	0.17	0.16
Long-Term Debt to Equity	0.23	0.22	0.22	0.21	0.20	0.20	0.19	0.18	0.18	0.00	0.00
Financial Leverage	0.12	0.15	0.15	0.16	0.15	0.15	0.14	0.09	0.04	0.03	0.01
Leverage Ratio	1.90	1.83	1.80	1.72	1.68	1.61	1.60	1.57	1.56	1.50	1.51
Compound Leverage Factor	1.53	1.52	1.62	1.57	1.55	1.55	1.58	1.55	1.53	1.48	1.50
Debt to Total Capital	19.22%	18.87%	18.43%	17.99%	18.02%	16.48%	16.01%	15.43%	15.00%	14.56%	14.14%
Short-Term Debt to Total Capital	0.92%	0.91%	0.88%	0.86%	1.39%	0.00%	0.00%	0.00%	0.00%	14.56%	14.14%
Long-Term Debt to Total Capital	18.30%	17.97%	17.54%	17.13%	16.64%	16.48%	16.01%	15.43%	15.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	80.78%	81.13%	81.57%	82.01%	81.98%	83.52%	83.99%	84.57%	85.00%	85.45%	85.86%
Debt to EBITDA	1.61	1.65	1.62	1.61	1.65	1.43	1.39	1.34	1.28	1.23	1.17
Net Debt to EBITDA	1.02	1.19	1.24	1.22	1.18	0.95	0.78	0.11	-0.39	-0.43	-0.58
Long-Term Debt to EBITDA	1.53	1.57	1.55	1.54	1.52	1.43	1.39	1.34	1.28	0.00	0.00
Debt to NOPAT	3.33	3.46	3.29	3.50	3.53	2.97	2.79	2.53	2.34	2.16	2.07
Net Debt to NOPAT	2.11	2.50	2.51	2.65	2.53	1.96	1.56	0.21	-0.71	-0.77	-1.03
Long-Term Debt to NOPAT	3.17	3.29	3.13	3.34	3.26	2.97	2.79	2.53	2.34	0.00	0.00
Altman Z-Score	4.76	5.64	6.54	6.38	7.00	7.80	8.62	9.74	9.36	9.94	9.60
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.95	0.89	1.00	0.93	0.86	0.94	1.06	1.21	1.35	0.94	1.03
Quick Ratio	0.89	0.80	0.91	0.84	0.79	0.85	0.97	1.14	1.27	0.88	0.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-443	-412	-423	-352	-340	-226	-154	75	254	193	208
Operating Cash Flow to CapEx	1,703.58%	673.11%	-136.79%	1,196.87%	1,129.13%	489.77%	410.23%	2,441.14%	2,557.16%	712.21%	951.06%
Free Cash Flow to Firm to Interest Expense	-54.66	-53.68	-66.31	-60.52	-90.67	-103.50	-123.29	60.35	202.04	154.54	164.88
Operating Cash Flow to Interest Expense	15.04	9.72	-3.00	30.56	39.31	32.89	51.32	213.54	178.53	45.07	77.90
Operating Cash Flow Less CapEx to Interest Expense	14.16	8.28	-5.20	28.01	35.83	26.18	38.81	204.79	171.55	38.74	69.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.39	0.40	0.40	0.41	0.42	0.43	0.43	0.43	0.43	0.45	0.44
Accounts Receivable Turnover	3.37	3.70	3.08	3.24	3.26	3.79	3.03	3.34	3.54	3.97	3.17
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.45	10.81	11.07	11.28	11.40	11.90	12.17	12.55	12.82	13.35	13.66
Accounts Payable Turnover	9.49	8.58	8.66	8.98	8.69	8.28	8.40	8.39	7.93	7.66	7.65
Days Sales Outstanding (DSO)	108.34	98.77	118.65	112.50	111.92	96.29	120.49	109.20	103.07	91.83	115.01
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	38.47	42.56	42.15	40.63	42.03	44.09	43.46	43.53	46.03	47.65	47.73
Cash Conversion Cycle (CCC)	69.86	56.21	76.51	71.87	69.90	52.20	77.03	65.67	57.04	44.18	67.28
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,019	3,137	3,246	3,326	3,401	3,417	3,467	3,324	3,208	3,301	3,338
Invested Capital Turnover	0.67	0.64	0.63	0.62	0.61	0.61	0.60	0.62	0.65	0.65	0.66
Increase / (Decrease) in Invested Capital	481	448	478	403	382	280	222	-1.52	-193	-117	-129
Enterprise Value (EV)	13,878	15,319	18,002	16,739	18,140	18,438	21,790	25,032	24,623	24,860	25,351
Market Capitalization	13,483	14,868	17,524	16,266	17,676	18,044	21,455	24,982	24,803	25,072	25,647
Book Value per Share	$63.03	$64.23	$66.03	$67.80	$69.75	$71.21	$73.77	$76.75	$79.17	$81.66	$84.29
Tangible Book Value per Share	($21.98)	($19.94)	($17.44)	($15.74)	($14.01)	($11.31)	($8.29)	($4.41)	($1.20)	$1.81	$5.20
Total Capital	3,249	3,311	3,394	3,479	3,584	3,620	3,729	3,873	3,986	4,111	4,233
Total Debt	624	625	625	626	646	597	597	598	598	598	599
Total Long-Term Debt	594	595	595	596	596	597	597	598	598	0.00	0.00
Net Debt	395	451	477	473	463	394	335	49	-181	-212	-297
Capital Expenditures (CapEx)	7.15	11	14	15	13	15	16	11	8.79	7.89	10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-223	-219	-105	-180	-267	-245	-203	-327	-393	-303	-242
Debt-free Net Working Capital (DFNWC)	-12	-59	33	-37	-91	-49	55	217	375	504	650
Net Working Capital (NWC)	-42	-89	2.66	-67	-141	-49	55	217	375	-94	51
Net Nonoperating Expense (NNE)	6.55	5.16	5.03	4.01	2.70	0.28	-0.54	-2.88	-4.32	-5.20	-5.71
Net Nonoperating Obligations (NNO)	395	451	477	473	463	394	335	49	-181	-212	-297
Total Depreciation and Amortization (D&A)	46	42	40	44	44	43	36	37	36	37	37
Debt-free, Cash-free Net Working Capital to Revenue	-12.07%	-11.74%	-5.53%	-9.37%	-13.66%	-12.32%	-10.01%	-15.76%	-18.37%	-13.85%	-10.79%
Debt-free Net Working Capital to Revenue	-0.67%	-3.18%	1.72%	-1.93%	-4.65%	-2.43%	2.71%	10.44%	17.55%	23.01%	28.94%
Net Working Capital to Revenue	-2.29%	-4.79%	0.14%	-3.49%	-7.20%	-2.43%	2.71%	10.44%	17.55%	-4.31%	2.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.74	$0.74	$1.17	$1.12	$0.92	$1.28	$1.59	$1.78	$1.52	$1.88	$1.96
Adjusted Weighted Average Basic Shares Outstanding	41.82M	41.93M	42.08M	42.12M	42.28M	42.46M	42.67M	42.80M	43.01M	43.12M	43.26M
Adjusted Diluted Earnings per Share	$0.73	$0.73	$1.15	$1.10	$0.90	$1.26	$1.57	$1.74	$1.48	$1.84	$1.93
Adjusted Weighted Average Diluted Shares Outstanding	41.82M	41.93M	42.08M	42.12M	42.28M	42.46M	42.67M	42.80M	43.01M	43.12M	43.26M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	41.82M	41.93M	42.08M	42.12M	42.28M	42.46M	42.67M	42.80M	43.01M	43.12M	43.26M
Normalized Net Operating Profit after Tax (NOPAT)	38	36	54	51	42	54	67	73	61	76	79
Normalized NOPAT Margin	8.32%	7.64%	10.74%	10.31%	8.65%	10.63%	12.42%	13.44%	11.26%	13.42%	13.24%
Pre Tax Income Margin	7.43%	8.17%	11.13%	11.91%	9.28%	13.01%	14.54%	15.85%	14.19%	16.86%	17.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.15	6.02	9.79	11.14	12.91	31.51	63.78	70.71	61.97	77.48	82.23
NOPAT to Interest Expense	4.64	4.69	8.48	8.78	11.09	24.93	53.63	59.12	48.38	60.87	62.53
EBIT Less CapEx to Interest Expense	4.27	4.57	7.59	8.59	9.43	24.80	51.27	61.97	54.99	71.15	74.04
NOPAT Less CapEx to Interest Expense	3.76	3.24	6.28	6.23	7.61	18.21	41.12	50.37	41.39	54.55	54.34
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Key Financial Trends

Tyler Technologies (NYSE:TYL) has demonstrated consistent financial growth and stability over the last several years through its reported financial statements up to Q2 2025. Here is a summary of the key financial trends and data points observed from their income statements, balance sheets, and cash flow statements:

Revenue Growth: The company’s total revenue has steadily increased from approximately $452 million in Q4 2022 to about $596 million in Q2 2025, indicating strong top-line growth.
Profitability Improvement: Net income has grown significantly, from $31 million in Q4 2022 to $84.6 million in Q2 2025, showing improved operational efficiency and profitability.
Operating Income Expansion: Operating income rose from approximately $40.7 million in Q4 2022 to $95.6 million by Q2 2025, reflecting better cost management relative to revenue growth.
Cash Position Strengthening: Cash and equivalents increased substantially from $173.9 million in Q4 2022 to $787.4 million in Q2 2025, enhancing the company's liquidity and financial flexibility.
Consistent Operating Cash Flow: Net cash from operating activities has sustained healthy positive figures, with Q2 2025 showing $98.3 million, which supports ongoing operations and investments.
Investment in Growth: Continuous investments in property, plant, and equipment (around $7 million to $15 million quarterly) and acquisitions (generally small in comparison) indicate ongoing growth initiatives.
Stable Debt Levels: Short-term debt fluctuated but remained considerable (around $598 million by Q2 2025), with long-term debt eliminated in recent quarters, suggesting actively managed debt structure.
Shareholder Equity Growth: Total equity increased from roughly $2.55 billion in late 2022 to $3.63 billion in Q2 2025, a positive signal for investors on retained earnings and reinvested profits.
Increasing Expenses: Operating expenses including selling, general and admin, marketing, and R&D have risen effectively alongside revenue, which could weigh on margins if not controlled.
Cash Flow Volatility: Changes in operating assets and liabilities have caused significant fluctuations in operating cash flows, including a negative operating cash flow in Q2 2023 (-$19.2 million), pointing to working capital management challenges.

Summary: Tyler Technologies shows strong revenue and earnings growth with improving cash reserves and equity base, underscoring business expansion and financial health. Investors should monitor rising operational expenses and cash flow variability, which could impact profitability and liquidity if trends continue unmitigated. Overall, the company is on a positive trajectory backed by solid operational performance and prudent management of debt and investments.

08/29/25 08:05 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Tyler Technologies' Financials

When does Tyler Technologies' fiscal year end?

According to the most recent income statement we have on file, Tyler Technologies' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Tyler Technologies' net income changed over the last 10 years?

Tyler Technologies' net income appears to be on an upward trend, with a most recent value of $263.03 million in 2024, rising from $58.94 million in 2014. The previous period was $165.92 million in 2023. See Tyler Technologies' forecast for analyst expectations on what’s next for the company.

What is Tyler Technologies' operating income?

Tyler Technologies' total operating income in 2024 was $299.53 million, based on the following breakdown:

Total Gross Profit: $935.76 million
Total Operating Expenses: $636.24 million

How has Tyler Technologies' revenue changed over the last 10 years?

Over the last 10 years, Tyler Technologies' total revenue changed from $493.10 million in 2014 to $2.14 billion in 2024, a change of 333.5%.

How much debt does Tyler Technologies have?

Tyler Technologies' total liabilities were at $1.79 billion at the end of 2024, a 3.0% increase from 2023, and a 669.5% increase since 2014.

How much cash does Tyler Technologies have?

In the past 10 years, Tyler Technologies' cash and equivalents has ranged from $33.09 million in 2015 to $744.72 million in 2024, and is currently $744.72 million as of their latest financial filing in 2024.

How has Tyler Technologies' book value per share changed over the last 10 years?

Over the last 10 years, Tyler Technologies' book value per share changed from 10.20 in 2014 to 79.17 in 2024, a change of 676.1%.

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This page (NYSE:TYL) was last updated on 8/29/2025 by MarketBeat.com Staff

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Tyler Technologies (TYL) Financials

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Tyler Technologies (TYL) Financials

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