— Know what they know.
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Not Investment Advice

TYL

NYSE · USD
Tyler Technologies, Inc.
Technology · Software - Application
CEO H. Lynn Moore Jr. Employees 7,800 R&D / revenue 8.8%
Last price
$360.87−0.76%last session
Market cap
$14.8B
P/E (TTM)
47.3x
From 52w high
−31.2%
From 52w low
+33.3%
1-year return
−27.3%
RSI 14 · vs SMA200
64.6 · +6.3%
IS score
66.2/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

TYL   SPY   XLK (sector ETF) · weekly closes
6080100120140Jan 26Apr 26Jul 26Oct 26XLK 129SPY 116TYL 73

Score DNA

Each bar is a 0-100 score within the scored universe
48
Profitability
49
Growth
35
Value
78
Momentum
90
Risk (safety)
79
Quality
76
Balance sheet
61
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Congress buying
Warnings
None of the computed warning flags fires for TYL (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Weak, Cost AdvantagePiotroski 8 / 9Altman Z 4.0Beta 0.832 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
2 open-market sales, $6.5M
Form 144 notices (12m): 10, $11.0M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-08-18
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−20
104 new holders, 118 closed
765 filers hold 104.9% · 231 added, 328 trimmed
ETFETF holdings · 30 days
Net funds accumulating
−92
474 funds adding shares
566 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
60.1%
20-day avg 63.6%, 50-day avg 67.8%
Latest 3.5 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$2.3B
Revenue growth YoY+9.1%
Gross margin44.0%
Operating income$357.7M
Operating margin15.3%
Net income$315.6M
Net margin13.5%
EPS (diluted)$7.20
Cash flow
Operating cash flow$653.5M
Capital expenditure$16.0M
Free cash flow$637.5M
FCF conversion (FCF / OCF)97.5%
Stock-based compensation$151.3M
FCF less SBC$486.3M
Buybacks$0
Dividends$0
Balance sheet & returns
Cash & short-term investments$1.1B
Total debt$642.6M
Net cash$454.6M
Shareholders' equity$3.7B
Goodwill & intangibles$3.4B
Debt / equity0.48
ROE (TTM)9.3%
ROIC (TTM)6.1%
Operating margin by fiscal year
12.7%FY202111.7%FY202211.2%FY202314.0%FY202415.3%FY2025
Revenue $1.6B (FY2021) to $2.3B (FY2025), a 10.0% CAGR.

Valuation

P/E (TTM)47.3x
EV / EBITDA27.1x
Price / sales6.08x
Price / FCF20.7x
FCF yield4.83%
Buyback yield0.00%
SBC / revenue6.4%
Price / book4.94x
Forward P/E FY202627.6x
Forward P/E FY202723.5x
Forward P/E FY202820.6x
Forward multiples divide today's price by Street EPS estimates. Street mean target $406.00 across 5 analysts last quarter is theirs, not ours.

TYL vs industry median

831 companies in Software - Application
Gross margin 46.6% 59.6% Operating margin 15.1% -6.6% Net margin 13.4% -9.7% ROIC 6.1% 3.5%
TYL (TTM)Industry median Asset turnover 0.42 vs industry 0.57 · financial leverage 1.91

Earnings delivery

Next report 2026-10-28 · consensus EPS $3.48
83%
beat rate, 10 of 12 quarters
+3.3%
median EPS surprise
5
longest beat streak
+9+2+8+4+2-0+9+5+4-3+3+1
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-01 to 2026-07-29. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
TYL Tyler Technologies, Inc. $14.8B47.3x9.3%13.4%+9.1% −27.3%
DOCU DocuSign, Inc. $14.0B44.7x17.8%8.9%+8.6% +11.2%
GWRE Guidewire Software, Inc. $13.8B102.3x10.5%7.6%+22.7% −30.8%
FICO Fair Isaac Corporation $16.7B22.2x-29.7%35.2%+24.1% −52.4%
MANH Manhattan Associates, Inc. $13.0B63.1x96.4%16.9%+6.5% +15.1%
DT Dynatrace, Inc. $17.7B120.2x5.9%6.6%+17.9% —
U Unity Software Inc. $17.8Bn/m-18.9%-4.3%+14.0% —
HUBS HubSpot, Inc. $11.8B81.6x7.9%4.8%+21.1% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-09-15Other Events
2026-07-29Earnings Release; Other Events
2026-06-12Other Events
2026-05-29Material Agreement; Termination of Agreement; Financial Obligation; Exhibits
2026-05-14Material Agreement; Financial Obligation; Unregistered Equity Sales; Other Events; Exhibits
2026-05-12Other Events; Exhibits

Context

Shares outstanding40,952,300
Free float92.8%
Institutional ownership104.9%
Beta0.83
Dividend yield0.00%
Last dividend$0.01 on 1990-01-31
50 / 200-day average$340.42 / $340.12
Large-cap Technology median P/E34.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where TYL sits among 137 scored companies in Software - Application (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureTYLIndustry medianIndustry percentileSector median
P/E (TTM) 45.5x 30.6x
67th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) 1.73 1.20
62nd		 1.36
Price / sales 6.1x 4.5x
66th		 3.9x
Price / book 4.9x 4.7x
52nd		 4.4x
Price / tangible book —
Price / free cash flow 20.7x 17.2x
59th		 20.3x
Price / operating cash flow 20.2x 16.1x
60th		 17.9x
Enterprise value $15.3B $3.8B
79th		 $5.5B
EV / sales 6.3x 4.2x
72nd		 4.1x
EV / EBITDA 28.0x 19.1x
64th		 18.9x
EV / EBIT 37.2x 27.7x
61st		 26.7x
EV / free cash flow 21.4x 18.6x
58th		 21.9x
Earnings yield 2.2% 1.4%
60th		 2.0%
FCF yield 4.8% 4.8%
50th		 3.3%
Operating cash flow yield 4.9% 5.1%
48th		 4.4%
Graham number (per share) $112.54 $20.79
97th		 $28.08

Profitability (TTM)

MeasureTYLIndustry medianIndustry percentileSector median
Gross margin 46.6% 71.1%
16th		 55.7%
EBITDA margin 22.5% 13.6%
69th		 13.7%
Operating margin 15.1% 7.3%
71st		 8.2%
EBIT margin 16.9% 7.1%
69th		 8.6%
Net margin 13.4% 4.7%
68th		 5.7%
NOPAT margin 11.7% 5.9%
65th		 7.0%
FCF margin 29.4% 20.3%
80th		 15.0%
Operating cash flow margin 30.1% 22.5%
74th		 18.4%
R&D / revenue 9.4% 18.2%
23rd		 12.9%
SG&A / revenue 20.3% 38.6%
12th		 25.6%
Stock comp / revenue 6.4% 7.8%
38th		 4.4%
Effective tax rate 22.6% 21.0%
74th		 21.0%

Returns on capital

MeasureTYLIndustry medianIndustry percentileSector median
ROE (on average equity) 9.7% 7.9%
56th		 9.4%
ROA 5.8% 3.0%
62nd		 4.1%
ROIC 8.1% 6.6%
52nd		 9.0%
ROCE 8.8% 5.7%
56th		 8.6%
Return on tangible assets 7.3% 4.6%
60th		 5.9%
Cash ROIC (OCF / invested capital) 20.7% 29.6%
36th		 20.7%
Gross profitability (GP / assets) 19.5% 37.6%
23rd		 30.0%
ROIC, 3-yr average 6.5% 4.8%
56th		 7.4%
ROIC, 5-yr average 6.7% -1.1%
61st		 7.9%
ROE, 5-yr average 7.8% -2.6%
66th		 6.9%
Incremental ROIC 21.9% 13.7%
55th		 15.3%

Growth

MeasureTYLIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 8.2% 15.1%
21st		 14.3%
Revenue growth (QoQ) 5.1% 4.6%
54th		 6.6%
Revenue CAGR, 3 yr 8.5% 13.7%
27th		 9.6%
Revenue CAGR, 5 yr 13.9% 16.6%
38th		 11.5%
Gross profit CAGR, 3 yr 14.7% 14.9%
44th		 10.9%
Operating income CAGR, 3 yr 20.6% 20.6%
51st		 11.3%
Net income growth (TTM YoY) 5.8% 27.2%
32nd		 21.6%
Net income CAGR, 3 yr 25.5% 20.3%
71st		 9.9%
EPS growth (TTM YoY) 11.1% 30.6%
36th		 22.3%
EPS CAGR, 3 yr 26.4% 20.2%
68th		 11.2%
EPS CAGR, 5 yr 15.9% 15.4%
53rd		 12.0%
FCF growth (TTM YoY) 15.1% 28.9%
31st		 24.6%
FCF CAGR, 3 yr 39.9% 31.3%
62nd		 19.3%
Operating cash flow CAGR, 3 yr 33.6% 28.0%
61st		 17.9%
Book value CAGR, 3 yr 3.9% 4.5%
47th		 6.8%
Dividend CAGR, 3 yr —
Sustainable growth rate 9.7% 15.5%
31st		 14.2%

Margin history & stability

MeasureTYLIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 43.4% 71.3%
10th		 53.2%
Operating margin, 3-yr average 14.3% 4.7%
73rd		 6.6%
Net margin, 3-yr average 12.4% 5.1%
66th		 5.2%
FCF margin, 3-yr average 25.6% 19.8%
70th		 12.7%
Revenue stability (0-1) 0.98 0.97
53rd		 0.87
Earnings stability (0-1) 0.84 0.56
81st		 0.45
Margin stability (0-1) 0.93 0.97
26th		 0.95

Liquidity (latest quarter)

MeasureTYLIndustry medianIndustry percentileSector median
Cash & short-term investments $970.0M $434.8M
71st		 $494.1M
Net cash (− = net debt) −$485.0M $57.2M
22nd		 $49.8M
Working capital $647.5M $247.5M
74th		 $391.0M
Current ratio 1.55 1.74
45th		 1.92
Quick ratio 1.55 1.72
46th		 1.67
Cash ratio (cash + ST investments / current liabilities) 0.83 1.13
43rd		 0.95
Defensive interval (days) 820 days 370 days
84th		 521 days

Leverage & solvency (latest quarter)

MeasureTYLIndustry medianIndustry percentileSector median
Total debt $1.5B $237.5M
76th		 $349.3M
Debt / equity 0.48 0.30
61st		 0.29
Net debt / equity 0.16 −0.22
73rd		 −0.13
Debt / assets 25.0% 15.2%
65th		 16.9%
Debt / capital 32.4% 23.1%
61st		 22.3%
Debt / EBITDA 2.67 2.26
61st		 1.78
Net debt / EBITDA 0.89 −0.32
70th		 −0.18
Interest coverage (EBIT / interest) 62.9x 5.3x
90th		 5.8x
Cash interest coverage 112.0x 15.8x
89th		 12.8x
Debt payback (years of OCF) 2.0 yrs 1.0 yrs
64th		 1.6 yrs
Liabilities / assets 47.8% 50.2%
46th		 48.7%
IS credit model rating AA- — —
Implied credit spread (bps) 100 225
27th		 175

Efficiency

MeasureTYLIndustry medianIndustry percentileSector median
Asset turnover 0.43 0.59
33rd		 0.62
Fixed asset turnover 12.28 12.05
51st		 9.25
Inventory turnover —
Receivables turnover 3.4 6.5
14th		 6.2
Days sales outstanding 108 days 55 days
87th		 59 days
Days inventory outstanding —
Days payables outstanding 49 days 31 days
69th		 46 days
Cash conversion cycle (days) 59 days 22 days
86th		 50 days
Capex / revenue 0.7% 1.3%
30th		 2.3%
Capex / depreciation 0.12 0.41
15th		 0.56
Operating expense ratio 32.9% 62.8%
9th		 44.3%

Cash flow & earnings quality

MeasureTYLIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.25 1.89
61st		 1.61
FCF / net income 2.20 1.70
66th		 1.33
FCF / operating cash flow 97.7% 94.0%
74th		 88.0%
Capex / operating cash flow 2.3% 6.0%
26th		 12.0%
Accruals ratio -7.2% -10.9%
61st		 -6.3%
Sloan accruals ratio 8.2% -4.7%
83rd		 -1.8%
Earnings quality score (0-1) 0.75 0.75
11th		 0.75

Dividends & buybacks

MeasureTYLIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.0%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.00
Payout ratio (dividends / net income) 0.0% 0.0%
0th		 0.0%
Dividends / FCF 0.0% 0.0%
0th		 0.0%
Dividend growth (YoY) —
Buyback yield 5.1% 2.7%
69th		 1.2%
Shareholder yield (dividends + buybacks) 5.1% 3.1%
68th		 1.7%
Share count change (YoY) -4.7% -1.9%
27th		 0.1%
Buybacks, last 5 years $1.0B $309.1M
74th		 $215.3M

Scores & forensic checks

MeasureTYLIndustry medianIndustry percentileSector median
IS score 66 56
67th		 56
IS profitability 48 37
61st		 40
IS growth 49 66
22nd		 65
IS value 35 38
37th		 39
IS momentum 78 80
48th		 78
IS risk (safety) 90 80
57th		 100
IS quality 79 63
76th		 67
IS balance sheet 76 69
57th		 72
IS earnings quality 61 52
66th		 61
IS cash flow 82 72
72nd		 66
Piotroski F-score (0-9) 8 6
85th		 6
Altman Z-score 4.0 3.0
60th		 4.0
Beneish M-score −2.82 −2.74
43rd		 −2.58
Ohlson O-score −8.33 −7.88
41st		 −8.00
IS credit score 83 62
71st		 69

Per share

MeasureTYLIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $7.76 $0.32
89th		 $0.84
Book value per share $72.57 $6.15
95th		 $9.77
Tangible book per share −$14.85 $1.97
6th		 $3.22
Revenue per share $58.05 $7.54
93rd		 $13.00
FCF per share $17.07 $1.56
94th		 $1.78
Operating cash flow per share $17.46 $1.77
94th		 $2.40
Cash per share $23.18 $3.77
93rd		 $4.50

Size (TTM)

MeasureTYLIndustry medianIndustry percentileSector median
Market cap $14.8B $3.9B
79th		 $4.7B
Revenue $2.4B $872.9M
76th		 $1.2B
EBITDA $545.8M $101.2M
80th		 $185.8M
Net income $324.6M $34.8M
80th		 $84.9M
Free cash flow $714.3M $198.7M
81st		 $170.6M
Total assets $5.8B $1.8B
76th		 $2.4B
Shareholders' equity $3.0B $907.0M
79th		 $1.1B
Employees 7,879 1,988
82nd		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Puckett Jeffrey David
Chief Operating Officer
 Award / grant 16$270.81$4,3757,800
2026-08-28Moore H Lynn Jr
Director, President and CEO
 Option exercise 9,250$205.66$1.9M109,642
2026-08-28Moore H Lynn Jr
Director, President and CEO
 Open-market sale 9,250$372.79$3.4M100,392
2026-08-28Moore H Lynn Jr
Director, President and CEO
 Option exercise 9,250$205.66$1.9M60,000
2026-08-24Puckett Jeffrey David
Chief Operating Officer
 Option exercise 8,500$143.42$1.2M16,284
2026-08-24Puckett Jeffrey David
Chief Operating Officer
 Open-market sale 8,500$356.44$3.0M7,784
2026-08-24Puckett Jeffrey David
Chief Operating Officer
 Option exercise 8,500$143.42$1.2M0
2026-06-30Puckett Jeffrey David
Chief Operating Officer
 Award / grant 15$248.59$3,7507,784
2026-06-15Miller Brian K
Executive VP and CFO
 Gift 90——25,305
2026-05-06Teed Andrew D.
Director
 Option exercise 452——5,570
2026-05-06Teed Andrew D.
Director
 Option exercise 452——0
2026-05-06Pope Daniel M
Director
 Option exercise 452——3,323

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJunAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired84,603$8,125
GiftDisposed190—
Open-market saleDisposed217,750$6.5M
Option exerciseAcquired820,462$3.1M
Option exerciseDisposed820,462$3.1M
—Disposed3762—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 10 notices · 29,423 shares · $11.0M
FiledFilerShares proposedEst. proceeds
2026-08-28Moore H Lynn Jr9,250$3.4M
2026-08-24Puckett Jeffrey David8,500$3.0M
2026-08-05Marr John S Jr875$268,148
2026-03-12Carter Glenn A1,624$567,004
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 10 trades (4 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-08-18Gilbert CisnerosHousePurchase$1,001 - $15,0002026-09-11
2026-07-07Ro KhannaHouseSale$1,001 - $15,0002026-08-12
2026-05-15Gilbert CisnerosHouseSale$1,001 - $15,0002026-06-09
2026-05-15Gilbert CisnerosHouseSale (Full)$1,001 - $15,0002026-06-09
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.3,863,402$1.1B9.43%
VANGUARD CAPITAL MANAGEMENT LLC2,756,465$806.2M6.73%
NORGES BANK2,672,346$781.6M6.53%
VANGUARD PORTFOLIO MANAGEMENT LLC2,115,939$618.8M5.17%
STATE STREET CORP2,039,920$596.6M4.98%
PRINCIPAL FINANCIAL GROUP INC2,027,041$592.8M4.95%
T. Rowe Price Investment Management, Inc.1,837,515$537.4M4.49%
GEODE CAPITAL MANAGEMENT, LLC1,206,676$353.4M2.95%
Invesco Ltd.1,047,167$306.3M2.56%
VAN ECK ASSOCIATES CORP929,654$271.9M2.27%
Artisan Partners Limited Partnership704,625$206.1M1.72%
FEDERATED HERMES, INC.642,420$187.9M1.57%
UBS Group AG628,303$183.8M1.53%
MASSACHUSETTS FINANCIAL SERVICES CO /MA/610,496$180.1M1.49%
MORGAN STANLEY567,189$165.9M1.38%

Institutional ownership by quarter

2023-092026-06104.9%
% of shares held by 13F filers
2023-092026-06765
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-30765104.9%104231328118
2026-03-3178596.8%115320249160
2025-12-31846102.5%10628232299
2025-09-3085797.4%10728731683
2025-06-30848124.5%8032830574
2025-03-3184998.6%10530930068
2024-12-3182497.4%11828927867
2024-09-3078794.0%11025028146
2024-06-3073096.4%7825526749
2024-03-3170995.5%8026722759
2023-12-3169394.6%9721825742
2023-09-3065093.8%6422524155

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-30SCHEDULE 13GVanguard Capital Management7.6%3,217,496
2026-04-29SCHEDULE 13GVanguard Portfolio Management5.7%2,417,766
2025-07-29SCHEDULE 13G/AThe Vanguard Group12.9%5,570,120
2025-02-05SCHEDULE 13G/ABlackRock, Inc.9.5%4,071,227
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.02%$413.8M
VTI0.02%$413.8M
VSMPX0.02%$413.8M
VTSAX0.02%$413.8M
VFFSX0.02%$318.6M
VFIAX0.02%$318.6M

Share structure

Shares outstanding40,952,300
Float38,014,358
Free float92.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$1.6B$1.9B$2.0B$2.1B$2.3B
Cost of revenue$927.5M$1.1B$1.2B$1.3B$1.3B
Gross profit$664.8M$722.5M$786.5M$876.1M$1.0B
R&D$93.5M$105.2M$109.6M$117.9M$204.6M
SG&A$365.5M$401.1M$458.3M$458.7M$465.0M
Operating income$205.8M$216.2M$218.5M$299.5M$357.7M
EBITDA$328.1M$388.0M$392.6M$466.5M$505.5M
Pretax income$159.0M$187.6M$198.2M$308.2M$390.3M
Income tax−$2.5M$23.4M$32.3M$45.1M$74.7M
Net income$161.5M$164.2M$165.9M$263.0M$315.6M
EPS, diluted$3.82$3.87$3.88$6.05$7.20
Diluted shares42.2M42.4M42.8M43.5M43.8M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$361.5M$210.9M$175.9M$768.0M$1.1B
Receivables$539.2M$577.3M$619.7M$599.6M$662.5M
Inventory$0$0$0$0$0
Total current assets$964.3M$847.2M$860.6M$1.4B$1.8B
PP&E, net$220.9M$223.8M$208.8M$195.2M$196.0M
Goodwill & intangibles$3.4B$3.5B$3.5B$3.4B$3.4B
Total assets$4.7B$4.7B$4.7B$5.2B$5.6B
Accounts payable$120.0M$104.8M$146.3M$156.8M$365.3M
Total current liabilities$829.5M$889.7M$1.0B$1.1B$1.8B
Long-term debt$1.3B$957.4M$596.2M$597.9M$33.3M
Total liabilities$2.4B$2.1B$1.7B$1.8B$1.9B
Shareholders' equity$2.3B$2.6B$2.9B$3.4B$3.7B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$161.5M$164.2M$165.9M$263.0M$315.6M
Depreciation & amortization$135.6M$159.1M$170.8M$152.4M$138.4M
Stock-based compensation$104.7M$103.0M$108.3M$122.8M$151.3M
Change in working capital−$29.8M$26.6M$411,000$122.4M−$19.8M
Operating cash flow$371.8M$381.5M$380.4M$624.6M$653.5M
Capital expenditure−$55.6M−$50.2M−$53.0M−$20.5M−$16.0M
Free cash flow$316.1M$331.3M$327.4M$604.1M$637.5M
Investing cash flow−$2.1B−$172.5M−$77.0M−$67.6M−$222.5M
Net debt issued / repaid$1.3B−$360.0M−$345.0M−$50.0M$0
Buybacks−$13.0M$0$0$0$0
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin41.8%39.0%40.3%41.0%44.7%
Operating margin12.7%11.7%11.2%14.0%15.3%
Net margin10.1%8.9%8.5%12.3%13.5%
FCF margin19.9%17.9%16.8%27.1%27.3%
ROE7.5%6.6%6.0%8.3%8.9%
ROIC6.1%5.5%5.3%7.8%8.8%
ROA4.4%3.5%3.5%5.3%5.8%
Debt / equity0.600.400.240.190.18
Interest coverage8.0x7.6x9.4x53.0x79.1x
Current ratio1.160.950.861.351.05
Revenue growth+42.6%+16.2%+5.5%+9.5%+9.1%
EPS growth−18.3%+2.0%−0.3%+55.1%+21.0%
P/E at year end141.7x83.3x108.3x96.3x62.6x
EV / EBITDA at year end73.9x37.4x47.1x54.3x36.1x
FCF yield at year end1.38%2.42%1.82%2.29%3.23%
Dividend payout0.0%0.0%0.0%0.0%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Enterprise Software——$1.4B——
Transaction Based Fees———$698.2M—
Saas Arrangements———$644.8M—
Platform Technologies Segment——$594.8M——
Maintenance———$463.1M$445.6M
Professional Services———$264.0M$242.7M
Hardware and Other———$41.4M$45.0M
Appraisal And Tax$27.8M$34.5M———
Software Licenses And Royalties————$12.8M

Street estimates by fiscal year

Next report 2026-10-28 · consensus EPS $3.48 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$2.6B$2.5B – $2.6B$13.08$12.93 – $13.481427.6x
2027$2.8B$2.8B – $2.8B$15.38$14.26 – $17.301423.5x
2028$3.1B$3.0B – $3.1B$17.51$17.06 – $17.83320.6x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-29$3.05$3.08+1.0%$647.9M$645.1M−0.4%
2026-04-29$3.01$3.09+2.7%$608.7M$613.5M+0.8%
2026-02-11$2.71$2.64−2.6%$591.0M$575.2M−2.7%
2025-10-29$2.86$2.97+3.8%$594.3M$595.9M+0.3%
2025-07-30$2.77$2.91+5.1%$587.6M$596.1M+1.5%
2025-04-23$2.56$2.78+8.6%$556.8M$565.2M+1.5%
2025-02-12$2.44$2.43−0.4%$540.7M$541.1M+0.1%
2024-10-23$2.46$2.52+2.4%$546.0M$543.3M−0.5%
2024-07-24$2.30$2.40+4.3%$541.0M$541.0M−0.0%
2024-04-24$2.04$2.20+7.8%$508.3M$512.4M+0.8%
2024-02-14$1.86$1.89+1.6%$484.7M$480.9M−0.8%
2023-11-01$1.97$2.14+8.6%$495.9M$494.7M−0.2%
2023-07-26$1.86$2.01+8.1%$504.3M$504.3M0.0%
2023-04-26$1.71$1.76+2.9%$492.4M$471.9M−4.2%
2023-02-15$1.74$1.66−4.6%$454.6M$452.2M−0.5%
2022-10-26$1.87$2.06+10.2%$470.8M$473.2M+0.5%
2022-07-27$1.83$1.88+2.7%$460.1M$468.7M+1.9%
2022-04-27$1.77$1.90+7.3%$433.3M$456.1M+5.3%
2022-02-16$1.74$1.75+0.6%$432.7M$433.5M+0.2%
2021-10-27$1.74$2.01+15.5%$426.0M$459.9M+8.0%
2021-07-28$1.65$1.83+10.9%$426.0M$404.1M−5.1%
2021-04-28$1.31$1.43+9.2%$288.9M$294.8M+2.0%
2021-02-10$1.42$1.39−2.1%$291.5M$283.3M−2.8%
2020-11-04$1.34$1.50+11.9%$253.4M$285.7M+12.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.306-150.406-220.206-290.307-060.307-130.307-200.807-270.408-030.408-100.408-170.508-240.508-31
Week ofNotionalSharesTrades
2026-08-31$523.6M1,394,02963,202
2026-08-24$500.3M1,375,48557,570
2026-08-17$361.1M1,053,00952,585
2026-08-10$383.0M1,192,01847,276
2026-08-03$428.1M1,388,62755,173
2026-07-27$777.1M2,390,53281,959

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1560.1%
DateShort shareShort volumeTotal volume
2026-10-1560.1%204,864340,738
2026-10-1469.6%199,422286,342
2026-10-1364.7%182,009281,157
2026-10-1264.2%142,671222,306
2026-10-0967.9%156,931230,989
2026-10-0854.8%152,390278,064
2026-10-0753.6%82,247153,526
2026-10-0673.2%134,751184,206
2026-10-0562.2%130,294209,639
2026-10-0269.8%105,864151,599
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.4Jan-0.5Feb+0.4Mar+2.5Apr+1.8May+2.4Jun+3.5Jul+1.6Aug+1.3Sep+5.7Oct+2.3Nov-1.3Dec
MonthAvg returnUp yearsYears
Jan+1.4%65%20
Feb−0.5%55%20
Mar+0.4%52%21
Apr+2.5%70%20
May+1.8%60%20
Jun+2.4%65%20
Jul+3.5%55%20
Aug+1.6%55%20
Sep+1.3%50%20
Oct+5.7%65%20
Nov+2.3%65%20
Dec−1.3%45%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1464.6
MFI70.8
ADX16.6
Stochastic %K / %D92.0 / 93.3
Williams %R-14.3
CCI210
TSI / signal9.3 / -2.0
Chaikin money flow0.03
ATR$11.53
Bollinger width14.9%
Volume vs 20-day avg0.73x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$333.72 (+8.1%)
SMA 50$341.52 (+5.7%)
SMA 200$339.63 (+6.3%)
EMA 21$340.49 (+6.0%)
EMA 50$336.60 (+7.2%)
EMA 200$358.48 (+0.7%)
Bollinger upper$358.51 (+0.7%)
Bollinger lower$308.92 (+16.8%)
Parabolic SAR$331.47 (+8.9%)
Open the live chart, 110+ indicators

About Tyler Technologies, Inc.

Tyler Technologies, Inc. specializes in delivering comprehensive information management solutions and services tailored for the public sector. Its operations are organized into three primary divisions: Enterprise Software, Appraisal and Tax, and NIC. The company's extensive product portfolio encompasses financial management tools, such as modular fund accounting systems designed for government bodies and non-profit organizations, as well as utility billing platforms for managing both metered and unmetered services. Additionally, Tyler offers solutions that automate a wide array of municipal and county operations, ranging from municipal court and parking ticket administration to animal and business licensing, permits and inspections, code enforcement, citizen complaint resolution, ambulance billing, fleet maintenance, and cemetery records management. Educational institutions, particularly K-12 schools, benefit from their specialized student information and transportation management systems. Furthermore, the company delivers a comprehensive suite of judicial technologies, including systems for court case management, integrated court and law enforcement functions, prosecutor support, and supervision. These solutions are scalable for diverse needs, from single-county deployments to multi-jurisdictional or statewide implementations. Their offerings extend to public safety software, alongside systems designed for the automated appraisal and assessment of both real and personal property, complemented by tax billing and collection applications for relevant agencies. Public sector agencies also leverage Tyler's software for planning, regulatory compliance, and maintenance operations. Dedicated applications enhance and automate records and document management, while their data and insights solutions provide valuable analytical capabilities. Beyond core software, Tyler Technologies facilitates Software-as-a-Service (SaaS) deployments and provides electronic document filing solutions for legal and judicial entities. Their service portfolio is robust, encompassing software and hardware installation, data conversion, user training, product customization, and ongoing maintenance and support. They also offer outsourced property appraisal services to taxing authorities. A strategic collaboration agreement with Amazon Web Services (AWS) underscores the company's commitment to cloud-based hosting solutions. Established in 1966, Tyler Technologies, Inc. maintains its headquarters in Plano, Texas.

https://www.tylertech.com

Key executives

NameTitlePayBorn
H. Lynn Moore Jr.CEO, President & Executive Chairman$684,7211968
Brian K. MillerExecutive Vice President & Chief Financial Officer$437,1321959
Jeffrey D. PuckettChief Operating Officer$332,3681968
Abigail DiazChief Administrative Officer & Corporate Secretary$291,214—
Arik FlandersChief Marketing Officer——
Hala ElsherbiniSenior Director of Investor Relations——
Jason DurhamChief Accounting Officer——
Kelley ShimanskyChief Human Resources Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
H. Lynn Moore, Jr. President and Chief Executive Officer2025$675,000$8.2M$0$8.9M
Brian K. Miller Executive Vice President and Chief Financial Officer2025$425,000$3.9M$0$4.4M
Jeffrey D. Puckett Chief Operating Officer2025$325,000$2.7M$0$3.0M
Abigail M. Diaz Chief Administrative Officer2025$285,000$1.6M$0$1.9M
John S. Marr, Jr. Executive Chairperson of the Board2025$300,000$899,260$0$1.2M

Employees

5k20185k20196k20207k20217k20227k20237k20248k2025

Dividends

Ex-dateAmountPaid
1990-01-31$0.0066671990-02-20
1989-11-02$0.0066671989-11-20
1989-04-26$0.0051989-05-15
1989-02-01$0.0051989-02-21
1988-11-03$0.0051988-11-21
1988-08-22$3.333—
1988-08-09$0.03667—
1988-04-27$0.036671988-05-16

Moat model

Weak · Cost Advantage · 2026-06-30
Cost advantage62
Intangibles47
Switching costs48
Network effect47
Efficient scale38
Our component scores (0-100) and overall 48.9; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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