Tyler Technologies Inc. (TYL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$3.07	$3.08	+0.3%	—	$645.1M	—
Q1 26	$3.01	$3.09	+2.7%	—	$613.5M	—
Q4 25	$2.73	$2.64	-3.3%	—	$575.2M	—
Q3 25	$2.86	$2.97	+3.8%	—	$595.9M	—
Q2 25	$2.78	$2.91	+4.7%	—	$596.1M	—
Q1 25	$2.56	$2.78	+8.6%	—	$565.2M	—
Q4 24	$2.44	$2.43	-0.4%	—	$541.1M	—
Q3 24	$2.43	$2.52	+3.7%	—	$543.3M	—
Q2 24	$2.31	$2.4	+3.9%	—	$541M	—
Q1 24	$2	$2.2	+10.0%	—	$512.4M	—
Q4 23	$1.86	$1.89	+1.6%	—	$480.9M	—
Q3 23	$1.99	$2.14	+7.5%	—	$494.7M	—
Q2 23	$1.89	$2.01	+6.3%	—	$504.3M	—
Q1 23	$1.69	$1.76	+4.1%	—	$471.9M	—
Q4 22	$1.75	$1.66	-5.1%	—	$452.2M	—
Q3 22	$1.86	$2.06	+10.8%	—	$473.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$7.32	—	—	$2.3B	—
FY24	—	$6.17	—	—	$2.1B	—
FY23	—	$3.95	—	—	$2B	—
FY22	—	$3.95	—	—	$1.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$759.9M	$840.9M	$935.3M	$1.1B	$1.1B	$1.6B	$1.9B	$2B	$2.1B	$2.3B
YoY change	+28.6%	+10.7%	+11.2%	+16.2%	+2.78%	+42.6%	+16.2%	+5.49%	+9.53%	+9.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	759.9M	840.9M	935.3M	1.1B	1.1B	1.6B	1.9B	2B	2.1B	2.3B
Cost of revenue	400.7M	441.5M	495.7M	569.5M	574.2M	882.6M	1.1B	1.1B	1.2B	1.2B
Gross profit	359.2M	399.4M	439.6M	516.9M	542.5M	709.6M	783.9M	861.1M	935.8M	1.1B
Gross margin	47.3%	47.5%	47%	47.6%	48.6%	44.6%	42.4%	44.1%	43.8%	46.5%
Research & development	43.2M	47.3M	63.3M	81.3M	88.4M	93.5M	105.2M	109.6M	117.9M	204.6M
Selling, general & administrative	165.2M	175.9M	207.6M	257.7M	259.6M	390.6M	403.1M	458.3M	458.7M	465M
Operating expenses	208.3M	223.2M	270.9M	339.1M	347.9M	484.1M	508.3M	567.9M	576.6M	669.6M
Operating income	137.7M	162.8M	152.5M	156.4M	172.9M	180.7M	214.2M	218.5M	299.5M	357.7M
Operating margin	18.1%	19.4%	16.3%	14.4%	15.5%	11.4%	11.6%	11.2%	14%	15.3%
Non-operating income, net	-2M	698K	3.4M	5.5M	3.1M	1.5M	1.7M	3.3M	14.6M	37.6M
Pretax income	135.7M	163.5M	155.9M	159.8M	175M	159M	187.6M	198.2M	308.2M	390.3M
Income tax	22M	-6.1M	8.4M	13.3M	-19.8M	-2.5M	23.4M	32.3M	45.1M	74.7M
Net income	113.7M	169.6M	147.5M	146.5M	194.8M	161.5M	164.2M	165.9M	263M	315.6M
Net margin	15%	20.2%	15.8%	13.5%	17.4%	10.1%	8.88%	8.5%	12.3%	13.5%
EBITDA	187.4M	216.2M	214.3M	238.5M	257.7M	328.1M	388M	392.6M	466.5M	543.2M
EPS	3.01	4.4	3.84	3.79	4.87	3.95	3.95	3.95	6.17	7.32
Diluted EPS	2.82	4.18	3.68	3.65	4.69	3.82	3.87	3.88	6.05	7.2

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	494.7M	480.9M	512.4M	541M	543.3M	541.1M	565.2M	596.1M	595.9M	575.2M	613.5M	645.1M
Cost of revenue	269.5M	268M	288.7M	303.2M	305.9M	304.3M	298.1M	322.9M	314.4M	313.2M	317.1M	338M
Gross profit	225.2M	212.9M	223.7M	237.8M	237.5M	236.8M	267.1M	273.2M	281.5M	262M	296.4M	307.1M
Gross margin	45.5%	44.3%	43.7%	44%	43.7%	43.8%	47.3%	45.8%	47.2%	45.5%	48.3%	47.6%
Research & development	28.3M	26.2M	29.4M	29M	30.1M	29.4M	47.8M	50.8M	51.8M	54.1M	59.7M	62.8M
Selling, general & administrative	114.4M	119.7M	109.1M	117M	110.7M	121.9M	115.9M	112.9M	117.5M	118.6M	122.8M	133.6M
Operating expenses	142.7M	145.8M	138.6M	145.9M	140.8M	151.3M	163.8M	163.8M	169.3M	172.8M	182.5M	196.4M
Operating income	63.9M	47.7M	67M	78M	82.8M	71.7M	89.2M	95.6M	97.9M	75M	99.8M	95.1M
Operating margin	12.9%	9.93%	13.1%	14.4%	15.2%	13.2%	15.8%	16%	16.4%	13%	16.3%	14.7%
Non-operating income, net	787K	652K	1.8M	1.9M	4.5M	6.3M	7.4M	8.2M	10.9M	11.2M	7.7M	28.5M
Pretax income	58.9M	44.6M	66.6M	78.7M	86.1M	76.8M	95.3M	102.5M	107.6M	85M	106.4M	120.6M
Income tax	11.9M	5.7M	12.5M	10.9M	10.2M	11.5M	14.2M	17.9M	23.2M	19.4M	25.2M	27.1M
Net income	47M	38.9M	54.2M	67.7M	75.9M	65.2M	81.1M	84.6M	84.4M	65.5M	81.2M	93.5M
Net margin	9.5%	8.09%	10.6%	12.5%	14%	12.1%	14.3%	14.2%	14.2%	11.4%	13.2%	14.5%
EBITDA	108.9M	92.7M	111.4M	116.4M	124.3M	114.4M	133.4M	140.7M	146.1M	123M	148.8M	137.9M
EPS	1.12	0.92	1.28	1.59	1.78	1.52	1.88	1.96	1.96	1.52	1.9	2.25
Diluted EPS	1.1	0.91	1.26	1.57	1.74	1.49	1.84	1.93	1.93	1.5	1.88	2.23

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	5.2B	6.6B	7.1B	11.6B	17.5B	22B	13.4B	17.6B	24.6B	19.6B	13.3B
Enterprise value	5.2B	6.4B	7B	11.3B	16.8B	23B	14.2B	18.1B	24.4B	19.1B	13.8B
Shares outstanding	36.4M	37.3M	38.4M	38.6M	40M	40.8M	41.5M	42M	42.6M	43.1M	43.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	45.8	38.9	48.4	79.1	89.7	136.1	81.6	105.9	93.4	62	42.4
P/S	6.85	7.85	7.64	10.7	15.7	13.8	7.24	9	11.5	8.39	5.45
P/B	5.68	5.54	5.39	7.17	8.8	9.46	5.1	5.98	7.25	5.28	4.36
EV/EBITDA	27.5	29.5	32.5	47.6	65.3	70.1	36.7	46.1	52.4	35.2	30.1
EV/Sales	6.79	7.58	7.45	10.4	15.1	14.4	7.69	9.27	11.4	8.19	5.69
Earnings yield	2.19%	2.57%	2.06%	1.26%	1.11%	0.73%	1.23%	0.94%	1.07%	1.61%	2.36%
FCF yield	2.96%	2.31%	3.12%	1.83%	1.87%	1.44%	2.47%	1.86%	2.34%	3.17%	4.48%
PEG	—	—	—	—	—	—	—	—	—	—	2.87

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	47.3%	47.5%	47%	47.6%	48.6%	44.6%	42.4%	44.1%	43.8%	46.5%	47.6%
Operating margin	18.1%	19.4%	16.3%	14.4%	15.5%	11.4%	11.6%	11.2%	14%	15.3%	14.7%
Net margin	15%	20.2%	15.8%	13.5%	17.4%	10.1%	8.88%	8.5%	12.3%	13.5%	13.4%
ROE	12.4%	14.2%	11.1%	9.06%	9.81%	6.95%	6.26%	5.65%	7.76%	8.52%	9.73%
ROA	8.37%	10.5%	8.23%	6.69%	7.47%	3.41%	3.5%	3.55%	5.08%	5.6%	4.18%
ROIC	13.3%	16.9%	12.6%	10.5%	13%	5.39%	5.42%	5.29%	7.84%	8.9%	8.08%
Return on tangible assets	-23.8%	-103.5%	-54.6%	-59.5%	72.7%	-7.51%	-6.87%	-6.97%	-15.5%	-25.5%	-21.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.78	1.4	1.22	1.34	1.97	1.16	0.95	0.86	1.35	1.05	1.55
Quick ratio	0.78	1.4	1.22	1.34	1.97	1.16	0.95	0.86	1.35	1.05	1.55
Debt / equity	0.01	—	0	0.01	0.01	0.6	0.4	0.24	0.19	0.17	0.48
Debt / assets	0.01	—	0	0.01	0.01	0.29	0.22	0.15	0.12	0.11	0.25
Net debt / EBITDA	-0.25	—	-0.83	-1.04	-2.54	3.13	2.15	1.33	-0.28	-0.84	0.87
Interest coverage	—	—	—	79.9	173.8	7.82	7.61	9.39	53	79.1	65.3
Effective tax rate	16.2%	0%	5.39%	8.33%	0%	0%	12.4%	16.3%	14.6%	19.1%	22.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	20.8	22.6	24.3	28.1	27.9	39	44.5	46.4	50.2	54.1	57.5
EPS (basic)	3.01	4.4	3.84	3.79	4.87	3.95	3.95	3.95	6.17	7.32	7.32
EPS (diluted)	2.82	4.18	3.68	3.65	4.69	3.82	3.87	3.88	6.05	7.2	7.62
Book value per share	25.1	32	34.5	41.8	49.6	56.9	63.2	69.9	79.5	85.9	74.2
FCF per share	4.23	4.1	5.79	5.5	8.16	7.74	7.97	7.79	13.5	14.4	16.9
Cash per share	1.55	6.15	4.65	7.04	16.9	8.85	5.08	4.19	18	25.5	23.7
Capex per share	1.04	1.16	0.71	0.96	0.57	0.83	0.54	0.49	0.48	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.96%	5.12%	2.93%	3.43%	2.03%	2.13%	1.22%	1.05%	0.96%	—	—
Capex / operating cash flow	21.4%	22.1%	10.8%	14.3%	6.36%	8.12%	6.62%	4.89%	3.33%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%
Dividend yield	—	—	—	—	—	—	—	—	—	—	0.01%

Yield

0.01%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.0022

ex-dividend Jan 31, 1990

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jan 31, 1990	$0.0022
Nov 2, 1989	$0.0022
Apr 26, 1989	$0.0017
Feb 1, 1989	$0.0017
Nov 3, 1988	$0.0017
Aug 22, 1988	$1.1111
Aug 9, 1988	$0.0122
Apr 27, 1988	$0.0122

Split history

Date	Ratio
May 15, 1990	3:1

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$494.7M	$480.9M	$512.4M	$541M	$543.3M	$541.1M	$565.2M	$596.1M	$595.9M	$575.2M	$613.5M	$645.1M
YoY change	+4.54%	+6.35%	+8.58%	+7.28%	+9.84%	+12.5%	+10.3%	+10.2%	+9.67%	+6.29%	+8.55%	+8.22%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	56.4M	229.1M	178.6M	272.1M	675.8M	361.5M	210.9M	175.9M	768M	1.1B
Receivables	200.3M	246.2M	298.9M	374.1M	382.3M	521.1M	577.3M	619.7M	587.6M	638.8M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	283M	520.8M	518.9M	679.7M	1.1B	964.3M	847.2M	860.6M	1.4B	1.8B
Property, plant & equipment	29.3M	36.1M	32.9M	53.4M	39M	66.7M	64.7M	36.7M	14.1M	17.4M
Goodwill & intangibles	1.8B	1.8B	2.1B	2.4B	2.3B	6.9B	7.1B	7.1B	6.9B	6.9B
Total assets	1.4B	1.6B	1.8B	2.2B	2.6B	4.7B	4.7B	4.7B	5.2B	5.6B
Accounts payable	7.3M	8.2M	6.9M	15M	14M	120M	104.8M	146.3M	156.8M	174.7M
Short-term debt	—	—	—	6.4M	5.9M	40.6M	40.7M	60.9M	9.6M	609.3M
Total current liabilities	361.5M	371.5M	423.9M	509.1M	564.3M	829.5M	889.7M	1B	1.1B	1.8B
Long-term debt	10M	—	0	16.8M	16.3M	1.3B	1B	636M	628.7M	33.3M
Total liabilities	442.4M	419.6M	466.1M	574.6M	621.2M	2.4B	2.1B	1.7B	1.8B	1.9B
Shareholders' equity	915.5M	1.2B	1.3B	1.6B	2B	2.3B	2.6B	2.9B	3.4B	3.7B
Total debt	10M	—	0	23.2M	22.2M	1.4B	1B	696.9M	638.4M	642.6M
Net debt	-26.2M	—	-134.3M	-209.5M	-581.4M	1.1B	872.3M	531.4M	-106.4M	-372.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	143.1M	175.9M	196.9M	258M	544.3M	768M	807.4M	892.3M	950.8M	1.1B	346.4M	970M
Receivables	623.6M	619.7M	542.4M	700.8M	619.5M	587.6M	559.9M	714.4M	662M	638.8M	573M	724.9M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	842M	860.6M	824.4M	1B	1.2B	1.4B	1.5B	1.7B	1.7B	1.8B	1B	1.8B
Property, plant & equipment	208.3M	36.7M	205M	204.3M	200M	14.1M	194.3M	196M	197.2M	17.4M	199.3M	197.8M
Goodwill & intangibles	7B	7.1B	7B	7B	6.9B	6.9B	6.9B	6.8B	6.8B	6.9B	6.8B	7.3B
Total assets	4.6B	4.7B	4.6B	4.8B	5B	5.2B	5.2B	5.4B	5.5B	5.6B	4.8B	5.8B
Accounts payable	132.7M	146.3M	145.2M	150.4M	145.4M	156.8M	171.2M	171.6M	147.9M	174.7M	186.1M	178.6M
Short-term debt	41.5M	60.9M	11.1M	11.2M	10.7M	9.6M	607.6M	607.8M	608.9M	609.3M	10.6M	11.2M
Total current liabilities	909M	1B	872.9M	987.3M	1B	1.1B	1.6B	1.7B	1.7B	1.8B	1B	1.2B
Long-term debt	747.3M	636M	634.3M	632.7M	631.2M	628.7M	32.5M	33.9M	34.6M	33.3M	37.4M	1.4B
Total liabilities	1.8B	1.7B	1.6B	1.7B	1.7B	1.8B	1.7B	1.8B	1.9B	1.9B	1.2B	2.8B
Shareholders' equity	2.9B	2.9B	3B	3.1B	3.3B	3.4B	3.5B	3.6B	3.6B	3.7B	3.6B	3B
Total debt	788.8M	696.9M	645.4M	643.9M	641.8M	638.4M	640.1M	641.7M	643.4M	642.6M	48M	1.5B
Net debt	657.3M	531.4M	457.2M	393.1M	103.5M	-106.4M	-65.6M	-145.7M	-190.7M	-372.8M	-268.1M	559.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	113.7M	169.6M	147.5M	146.5M	194.8M	161.5M	164.2M	165.9M	263M	315.6M
Depreciation & amortization	49.8M	53.4M	61.8M	76.7M	81.7M	145.8M	172M	170.8M	152.4M	147.9M
Stock-based compensation	29.7M	37.3M	52.7M	60M	67.4M	104.7M	103M	108.3M	122.8M	151.3M
Change in working capital	9.6M	-32M	-3.1M	-21.9M	15.3M	8.6M	-12M	48.2M	108.7M	2.5M
Operating cash flow	176.4M	194.6M	253.8M	260.5M	357M	417.6M	340.1M	420M	616.5M	653.5M
Capital expenditure	-37.7M	-43.1M	-27.4M	-37.2M	-22.7M	-33.9M	-22.5M	-20.5M	-20.5M	—
Investing cash flow	-50.7M	-85.4M	-238.3M	-240.2M	-92.5M	-2.1B	-144.9M	-44.5M	-38.2M	-189.7M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-111.8M	-7.5M	-146.6M	-17.8M	-15.5M	-13M	0	0	—	-174.7M
Financing cash flow	-111.8M	-7.5M	-146.6M	-17.8M	-21.1M	1.3B	-360M	-345M	-52.6M	-182.4M
Net change in cash	13.9M	101.8M	-131M	2.5M	243.4M	-336.8M	-164.8M	30.5M	525.7M	281.5M
Free cash flow	154.1M	152.7M	222.8M	212.7M	326.6M	316.1M	331.3M	327.4M	574.7M	620.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	84.6M	84.4M	65.5M	81.2M	93.5M
Depreciation & amortization	—	—	—	—	—	—	—	36.9M	37.3M	36.8M	41.3M	39.4M
Stock-based compensation	—	—	—	—	—	—	—	38.3M	36.7M	38.6M	37.2M	43.7M
Change in working capital	—	—	—	—	—	—	—	-79.6M	71.6M	29.7M	3.4M	-81.6M
Operating cash flow	—	—	—	—	—	—	—	98.3M	255.2M	243.9M	107.3M	124.4M
Capital expenditure	-6.1M	-8M	-7.3M	-6.6M	-2.9M	-3.8M	-2.3M	—	—	—	—	—
Investing cash flow	-6.1M	-8M	-7.3M	-6.6M	-2.9M	-3.8M	-2.3M	-2.4M	-47.6M	-51.4M	60.5M	-252.5M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	-1.6M	-173M	0	-250.1M	-504.9M
Financing cash flow	—	—	—	—	—	—	—	-4.5M	-173.4M	0	-850.1M	-504.9M
Net change in cash	-6.1M	-8M	-7.3M	-6.6M	-2.9M	-3.8M	-2.3M	91.4M	34.2M	192.5M	-682.3M	-633M
Free cash flow	—	—	—	—	—	—	—	88M	247.6M	236.9M	102.8M	118.5M

Tyler Technologies Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement