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TYLTyler Technologies

Technology · Software · NYSE

Tyler Technologies, Inc. (“Tyler” or “Company”) is a leading provider of integrated software and technology management solutions for the public sector. 10-K, Item 1

TYL quote by TradingView
Employees
7,800
Headquarters
Plano, TX
CEO
H. Lynn Moore Jr
Next results
around Feb 10, 2027
Compare with peers → Embed
All key numbers (40, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)8.01Sales (ttm)2.5BNet income (ttm)335.3MSales growth+9.1%EPS growth+19.0%Sales Q/Q+8.7%
Free cash flow741.0MGross margin47.7%Oper. margin15.6%Net margin13.5%FCF margin29.9%ROE12.0%
ROA5.9%R&D / sales-Dividend-Debt/Eq0.51Curr. ratio1.33Cash788.2M
Op. cash flow (ttm)758.0MEBITDA496.0MEBITDA margin21.3%Net debt621.9MQuick ratio1.33Interest cover71.61
ROIC6.9%Tax rate19.1%Stock pay / sales6.5%Shares out.39.8MShares Y/Y+0.7%Book / share70.18
Cash / share19.82Sales / share62.41Asset turnover0.44Days sales out.100Sales 3Y CAGR+8.0%Sales 5Y CAGR+15.9%
EPS 3Y CAGR+23.0%EPS 5Y CAGR+9.0%Employees7,800Sales / employee318K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

TYL against Technology peers

Ten years, side by side → · All 75 →
GrowthProfitBalanceCleanInsiders
TYLPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 75 companies, the better end on the right. Hover a dot for the company.

Sales growth
+9.1%52nd of 75 · median +14.1%
Net margin
13.5%48th of 75 · median 19.1%
Return on equity
12.0%53rd of 69 · median 23.9%
Free cash flow margin
29.9%22nd of 71 · median 22.3%
Debt / equity (less is better)
0.5132nd of 61 · median 0.46
TYL and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
TYL Tyler Technologies$2.5B +9.1%47.7%13.5%12.0%29.9%0.51
MPWR Monolithic Power Systems$3.7B +26.4%55.3%23.9%23.9%16.3%-
FFIV F5, Inc.$3.3B +9.7%81.9%22.0%18.8%29.3%-
PTC PTC Inc.$3.0B +19.2%84.5%41.4%35.3%31.7%0.40
FICO Fair Isaac$2.5B +27.3%86.1%32.9%-42.2%-
VRSN Verisign$1.7B +6.4%88.6%49.1%-59.1%-

From $1.6B of sales to $161.5M of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $709.6MRevenue to Cost of revenue: $882.6MGross profit to Operating profit: $180.7MGross profit to Operating expenses: $528.9MOperating profit to Net profit: $161.5MOperating profit to Interest, tax, other: $19.3M Revenue: $1.6B Revenue$1.6B +43% Y/Y Gross profit: $709.6M · 45% margin Gross profit$709.6M45% margin +31% Y/Y Cost of revenue: $882.6M · 55% of revenue Cost of revenue$882.6M55% of revenue Operating profit: $180.7M · 11% margin Operating profit$180.7M11% margin +5% Y/Y Operating expenses: $528.9M · 33% of revenue Operating expenses$528.9M33% of revenue Net profit: $161.5M · 10% margin Net profit$161.5M10% margin −17% Y/Y Interest, tax, other: $19.3M · 1% of revenue Interest, tax, other$19.3M1% of revenue

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From $1.9B of sales to $164.2M of profit

FY2022, from the 10-K income statement and revenue by product
Maintenance to Revenue: $468.5MProfessional services to Revenue: $277.6MHardware and other to Revenue: $32.4MSoftware licenses and royalties to Revenue: $59.4MTransaction-based fees to Revenue: $583.8MSaaS to Revenue: $428.5MRevenue to Gross profit: $783.9MRevenue to Cost of revenue: $1.1BGross profit to Operating profit: $214.2MGross profit to Operating expenses: $569.6MOperating profit to Net profit: $164.2MOperating profit to Tax & other: $50.0M Maintenance: $468.5M · 25% Maintenance$468.5M25% Professional services: $277.6M · 15% Professional services$277.6M15% Hardware and other: $32.4M · 2% Hardware and other$32.4M2% Software licenses and royalties: $59.4M · 3% Software licenses and r…$59.4M3% Transaction-based fees: $583.8M · 32% Transaction-based fees$583.8M32% SaaS: $428.5M · 23% SaaS$428.5M23% Revenue: $1.9B Revenue$1.9B +16% Y/Y Gross profit: $783.9M · 42% margin Gross profit$783.9M42% margin +10% Y/Y Cost of revenue: $1.1B · 58% of revenue Cost of revenue$1.1B58% of revenue Operating profit: $214.2M · 12% margin Operating profit$214.2M12% margin +19% Y/Y Operating expenses: $569.6M · 31% of revenue Operating expenses$569.6M31% of revenue Net profit: $164.2M · 9% margin Net profit$164.2M9% margin +2% Y/Y Tax & other: $50.0M · 3% of revenue Tax & other$50.0M3% of revenue

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From $2.0B of sales to $165.9M of profit

FY2023, from the 10-K income statement and revenue by product
Maintenance to Revenue: $466.7MProfessional services to Revenue: $250.0MHardware and other to Revenue: $37.5MSoftware licenses and royalties to Revenue: $38.1MTransaction-based fees to Revenue: $631.5MSaaS to Revenue: $528.0MRevenue to Gross profit: $861.1MRevenue to Cost of revenue: $1.1BGross profit to Operating profit: $218.5MGross profit to Operating expenses: $642.6MOperating profit to Net profit: $165.9MOperating profit to Tax & other: $52.6M Maintenance: $466.7M · 24% Maintenance$466.7M24% Professional services: $250.0M · 13% Professional services$250.0M13% Hardware and other: $37.5M · 2% Hardware and other$37.5M2% Software licenses and royalties: $38.1M · 2% Software licenses and r…$38.1M2% Transaction-based fees: $631.5M · 32% Transaction-based fees$631.5M32% SaaS: $528.0M · 27% SaaS$528.0M27% Revenue: $2.0B Revenue$2.0B +5% Y/Y Gross profit: $861.1M · 44% margin Gross profit$861.1M44% margin +10% Y/Y Cost of revenue: $1.1B · 56% of revenue Cost of revenue$1.1B56% of revenue Operating profit: $218.5M · 11% margin Operating profit$218.5M11% margin +2% Y/Y Operating expenses: $642.6M · 33% of revenue Operating expenses$642.6M33% of revenue Net profit: $165.9M · 9% margin Net profit$165.9M9% margin +1% Y/Y Tax & other: $52.6M · 3% of revenue Tax & other$52.6M3% of revenue

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From $2.1B of sales to $263.0M of profit

FY2024, from the 10-K income statement and revenue by product
Maintenance to Revenue: $463.1MProfessional services to Revenue: $264.0MHardware and other to Revenue: $41.4MSoftware licenses and royalties to Revenue: $26.4MTransaction-based fees to Revenue: $698.2MSaaS to Revenue: $644.8MRevenue to Gross profit: $935.8MRevenue to Cost of revenue: $1.2BGross profit to Operating profit: $299.5MGross profit to Operating expenses: $636.2MOperating profit to Net profit: $263.0MOperating profit to Tax & other: $36.5M Maintenance: $463.1M · 22% Maintenance$463.1M22% Professional services: $264.0M · 12% Professional services$264.0M12% Hardware and other: $41.4M · 2% Hardware and other$41.4M2% Software licenses and royalties: $26.4M · 1% Software licenses and r…$26.4M1% Transaction-based fees: $698.2M · 33% Transaction-based fees$698.2M33% SaaS: $644.8M · 30% SaaS$644.8M30% Revenue: $2.1B Revenue$2.1B +10% Y/Y Gross profit: $935.8M · 44% margin Gross profit$935.8M44% margin +9% Y/Y Cost of revenue: $1.2B · 56% of revenue Cost of revenue$1.2B56% of revenue Operating profit: $299.5M · 14% margin Operating profit$299.5M14% margin +37% Y/Y Operating expenses: $636.2M · 30% of revenue Operating expenses$636.2M30% of revenue Net profit: $263.0M · 12% margin Net profit$263.0M12% margin +59% Y/Y Tax & other: $36.5M · 2% of revenue Tax & other$36.5M2% of revenue

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From $2.3B of sales to $315.6M of profit

FY2025, from the 10-K income statement and revenue by product
Subscriptions to Revenue: $1.6BMaintenance to Revenue: $445.6MProfessional services to Revenue: $242.7MHardware and other to Revenue: $45.0MSoftware licenses and royalties to Revenue: $12.8MRevenue to Gross profit: $1.1BRevenue to Cost of revenue: $1.2BGross profit to Operating profit: $357.7MGross profit to Operating expenses: $726.0MOperating profit to Net profit: $283.0MOperating profit to Tax: $74.7MOther income to Net profit: $32.6M Subscriptions: $1.6B · 68% Subscriptions$1.6B68% Maintenance: $445.6M · 19% Maintenance$445.6M19% Professional services: $242.7M · 10% Professional services$242.7M10% Hardware and other: $45.0M · 2% Hardware and other$45.0M2% Software licenses and royalties: $12.8M · 1% Software licenses and r…$12.8M1% Revenue: $2.3B Revenue$2.3B +9% Y/Y Gross profit: $1.1B · 46% margin Gross profit$1.1B46% margin +16% Y/Y Cost of revenue: $1.2B · 54% of revenue Cost of revenue$1.2B54% of revenue Operating profit: $357.7M · 15% margin Operating profit$357.7M15% margin +19% Y/Y Other income: $32.6M · 1% of revenue Other income$32.6M1% of revenue Operating expenses: $726.0M · 31% of revenue Operating expenses$726.0M31% of revenue Net profit: $315.6M · 14% margin Net profit$315.6M14% margin +20% Y/Y Tax: $74.7M · 3% of revenue Tax$74.7M3% of revenue

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Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax, less other income
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

1 of 4
  • !
    Net margin below the peer median13.5% vs 19.1%
  • !
    Gross margin down over 5 years48.6% → 46.5%
  • !
    Return on equity below 15%12.0%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 15.0% → 13.5%

Balance sheet

4 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 71.6× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.51 on the latest balance sheet (peer median 0.46)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.33
  • ✓
    Net debt under 3 years of free cash flow$540.1M net debt, 0.7 years
Debt / equity at each year end, FY2016 to FY2025: 0.58 → 0.16

Cash and shareholders

2 of 3
  • ✓
    Free cash flow positive in every one of 10 years$637.5M last year
  • !
    Share count up over 5 years+5.5%
  • ✓
    Cash from operations above net income$653.5M vs $315.6M
Free cash flow, FY2016 to FY2025: 154.1M → 637.5M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Revenue and net income, FY2016 to FY2025

Revenue 2.3B Net income 315.6M
FY2016 revenue 759.9M · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-19-000009 FY2016 net income 113.7M · NetIncomeLoss, 0000860731-19-000009 759.9M FY2016 FY2017 revenue 840.9M · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-20-000008 FY2017 net income 169.6M · NetIncomeLoss, 0000860731-20-000008 840.9M FY2017 FY2018 revenue 935.3M · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-21-000014 FY2018 net income 147.5M · NetIncomeLoss, 0000860731-21-000014 935.3M FY2018 FY2019 revenue 1.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-22-000011 FY2019 net income 146.5M · NetIncomeLoss, 0000860731-22-000011 1.1B FY2019 FY2020 revenue 1.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-23-000009 FY2020 net income 194.8M · NetIncomeLoss, 0000860731-23-000009 1.1B FY2020 FY2021 revenue 1.6B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-24-000006 FY2021 net income 161.5M · NetIncomeLoss, 0000860731-24-000006 1.6B FY2021 FY2022 revenue 1.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-25-000007 FY2022 net income 164.2M · NetIncomeLoss, 0000860731-25-000007 1.9B FY2022 FY2023 revenue 2.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-26-000016 FY2023 net income 165.9M · NetIncomeLoss, 0000860731-26-000016 2.0B FY2023 FY2024 revenue 2.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-26-000016 FY2024 net income 263.0M · NetIncomeLoss, 0000860731-26-000016 2.1B FY2024 FY2025 revenue 2.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000860731-26-000016 FY2025 net income 315.6M · NetIncomeLoss, 0000860731-26-000016 2.3B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

TYL's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue2.3B
FY2016: 759.9MFY2017: 840.9MFY2018: 935.3MFY2019: 1.1BFY2020: 1.1BFY2021: 1.6BFY2022: 1.9BFY2023: 2.0BFY2024: 2.1BFY2025: 2.3B FY2017FY2019FY2021FY2023FY2025
Net income315.6M
FY2016: 113.7MFY2017: 169.6MFY2018: 147.5MFY2019: 146.5MFY2020: 194.8MFY2021: 161.5MFY2022: 164.2MFY2023: 165.9MFY2024: 263.0MFY2025: 315.6M FY2017FY2019FY2021FY2023FY2025
Free cash flow637.5M
FY2016: 154.1MFY2017: 152.7MFY2018: 222.8MFY2019: 217.5MFY2020: 332.4MFY2021: 337.8MFY2022: 358.9MFY2023: 359.9MFY2024: 604.1MFY2025: 637.5M FY2017FY2019FY2021FY2023FY2025
EPS (diluted)7.20
FY2016: 2.92FY2017: 4.32FY2018: 3.68FY2019: 3.65FY2020: 4.69FY2021: 3.82FY2022: 3.87FY2023: 3.88FY2024: 6.05FY2025: 7.20 FY2017FY2019FY2021FY2023FY2025
Diluted shares43.8M
FY2016: 39.0MFY2017: 39.2MFY2018: 40.1MFY2019: 40.1MFY2020: 41.5MFY2021: 42.2MFY2022: 42.4MFY2023: 42.8MFY2024: 43.5MFY2025: 43.8M FY2017FY2019FY2021FY2023FY2025

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Enterprise Software 1.7B72.6% +12.1%
Platform Technologies 628.6M26.9% +1.5%

10-K 0000860731-26-000016, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Subscriptions 1.6B68.0% +18.1%
Maintenance 445.6M19.1% -3.8%
Professional services 242.7M10.4% -8.1%
Hardware and other 45.0M1.9% +8.7%
Software licenses and royalties 12.8M0.5% -51.4%

10-K 0000860731-26-000016, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue759.9M840.9M935.3M1.1B1.1B1.6B1.9B2.0B2.1B2.3B
Cost of revenue400.7M441.5M495.7M569.5M574.2M882.6M1.1B1.1B1.2B1.2B
Gross profit359.2M399.4M439.6M516.9M542.5M709.6M783.9M861.1M935.8M1.1B
SG&A165.2M175.9M207.6M257.7M259.6M390.6M267.3M308.6M300.9M316.4M
Operating income137.7M162.8M152.5M156.4M172.9M180.7M214.2M218.5M299.5M357.7M
Interest expense----610K17.7M28.4M23.6M5.9M5.0M
Pretax income135.7M163.5M155.9M159.8M175.0M159.0M187.6M198.2M308.2M390.3M
Income tax22.0M-6.1M8.4M13.3M-19.8M-2.5M23.4M32.3M45.1M74.7M
Net income113.7M169.6M147.5M146.5M194.8M161.5M164.2M165.9M263.0M315.6M
EPS (diluted)2.924.323.683.654.693.823.873.886.057.20
Diluted shares39.0M39.2M40.1M40.1M41.5M42.2M42.4M42.8M43.5M43.8M
Depreciation & amortization49.8M53.4M61.8M76.7M81.7M135.6M159.1M154.1M143.4M138.4M
EBITDA187.4M216.2M214.3M233.0M254.6M316.4M373.3M372.6M443.0M496.0M
Gross margin47.3%47.5%47.0%47.6%48.6%44.6%42.4%44.1%43.8%46.5%
Operating margin18.1%19.4%16.3%14.4%15.5%11.4%11.6%11.2%14.0%15.3%
Net margin15.0%20.2%15.8%13.5%17.4%10.1%8.9%8.5%12.3%13.5%
Revenue growth-+10.7%+11.2%+16.2%+2.8%+42.6%+16.2%+5.5%+9.5%+9.1%
EPS growth-+47.9%-14.8%-0.8%+28.5%-18.6%+1.3%+0.3%+55.9%+19.0%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash36.2M185.9M134.3M232.7M603.6M309.2M173.9M165.5M744.7M1.0B
Short-term investments20.3M43.2M44.3M39.4M72.2M52.3M37.0M10.4M23.3M81.8M
Receivables200.3M246.2M298.9M374.1M382.3M521.1M577.3M619.7M587.6M638.8M
Current assets283.0M520.8M518.9M679.7M1.1B964.3M847.2M860.6M1.4B1.8B
Property & equipment124.3M152.3M155.2M171.9M168.0M181.2M172.8M169.7M163.8M160.4M
Goodwill650.2M658.0M753.7M840.1M838.4M2.4B2.5B2.5B2.5B2.6B
Total assets1.4B1.6B1.8B2.2B2.6B4.7B4.7B4.7B5.2B5.6B
Accounts payable7.3M8.2M6.9M15.0M14.0M120.0M104.8M146.3M156.8M174.7M
Current liabilities361.5M371.5M423.9M509.1M564.3M829.5M889.7M1.0B1.1B1.8B
Total debt-----1.3B987.4M646.0M597.9M599.7M
Total liabilities----621.2M2.4B2.1B1.7B1.8B1.9B
Shareholders' equity934.5M1.2B1.3B1.6B2.0B2.3B2.6B2.9B3.4B3.7B
Retained earnings435.9M624.5M771.9M917.3M1.1B1.3B1.4B1.6B1.9B2.2B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow191.9M195.8M250.2M254.7M355.1M371.8M381.5M380.4M624.6M653.5M
Capital spending37.7M43.1M27.4M37.2M22.7M33.9M22.5M20.5M20.5M16.0M
Free cash flow154.1M152.7M222.8M217.5M332.4M337.8M358.9M359.9M604.1M637.5M
Stock-based pay (added back)29.7M37.3M52.7M60.0M67.4M104.7M103.0M108.3M122.8M151.3M
Buybacks111.8M7.5M146.6M17.8M15.5M13.0M000174.7M
Acquisitions9.4M11.3M178.1M218.7M1.3M2.1B163.9M62.8M1.4M83.7M
Investing cash flow-50.7M-85.4M-238.3M-245.0M-98.3M-2.1B-172.5M-77.0M-67.6M-222.5M
Financing cash flow-138.1M39.4M-63.6M88.7M114.2M1.4B-344.2M-311.8M22.2M-160.4M

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)29.7M37.3M52.7M60.0M67.4M104.7M103.0M108.3M122.8M151.3M
Stock-based pay / revenue3.9%4.4%5.6%5.5%6.0%6.6%5.6%5.6%5.7%6.5%
Operating lease cost---6.4M6.5M11.1M14.7M19.5M9.2M11.0M
Operating lease cash paid---7.3M8.1M11.4M13.6M12.6M12.6M12.4M
Right-of-use assets--019.0M18.7M39.7M51.0M39.0M31.4M35.6M
Operating lease liabilities--023.2M22.2M46.9M58.8M50.9M40.4M42.9M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Work on TYL in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/TYL/export.csv") into a cell.