Tyler Technologies, Inc. (TYL) financials

NYSE · Technology · Software - Application · 7,879 employees · CEO H. Lynn Moore Jr.

Price: $430.37 +1.69%
Market cap: $17.1B
Enterprise value: $17.8B
Last report: Q3 '26 filed 2026-10-28
Next report: 2027-02-10 EPS est. $3.41

Revenue (TTM)$2.48B+8.0% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)15.6%+0.2 pp vs a year agoOperating income $387M

Net income (TTM)$335M+6.3% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$740M+19.5% vs a year agoCapex $18.1M

Diluted EPS (TTM)$7.94+10.4% vs a year agoSum of the last 4 quarters

Net cash-$576M-287.4% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $17.1B
Revenue: $2.48B
Revenue growth: +9%
Profit margin: 13.5%
P/E: 53.7×
P/S: 6.9×
EV / EBITDA: 30.6×
Free cash flow: $740M
Net income: $335M
Revenue estimate: $2.55B
Earnings: 2027-02-10
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-28): revenue missed by 0.6%, EPS beat by 1.1%Revenue $648M vs $651M expected (-0.6%); EPS $3.52 vs $3.48 (+1.1%).
Revenue growth steady: 8.7% year on yearQ3 '26 revenue $648M, against an average of 8.2% over the four quarters before.
Operating margin 15.6% (TTM), +0.2 pp on a year agoOperating income grew 9.2% while revenue grew 8.0%.
10.7% of pre-tax profit is non-operatingPre-tax income $433M vs operating income $387M (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
Capex 0.7% of revenue (a year ago 0.7%)$18.1M invested in the last 4 quarters (+16.8% on a year earlier). Free cash flow $740M = 220.7% of net income.
Returned $1.12B to shareholders = 151.9% of free cash flowBuybacks $1.12B (a year earlier $0), dividends $0, stock-based pay $159M (TTM). More than the free cash flow: paid from cash or debt.
Diluted share count down 6.9% in a year40.7M diluted shares in Q3 '26, 43.7M a year earlier.
Net debt $576MCash + short-term investments $879M, debt incl. leases $1.46B; a year ago net cash $307M.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	$648M	$596M	+8.7%
Gross margin	49.1%	47.2%	+1.9 pp
Operating income	$117M	$97.9M	+19.5%
Operating margin	18.1%	16.4%	+1.6 pp
Net income	$95.1M	$84.4M	+12.7%
Diluted EPS	$2.33	$1.93	+20.7%
Operating cash flow	$282M	$255M	+10.7%
Capex	$5.5M	$3.88M	+41.8%
Free cash flow	$277M	$251M	+10.2%
R&D	$63.3M	$51.8M	+22.3%
Stock-based compensation	$39.2M	$36.7M	+6.9%

Reported vs consensus

2026-10-28

	Actual	Consensus	vs consensus
Revenue	$648M	$651M	-0.6%
EPS (as estimated)	$3.52	$3.48	+1.1%

From the report of 2026-10-28 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q3 '26	y/y	Share	TTM	TTM y/y
Saas Arrangements	$242M	–	38.3%	–	–
Transaction Based Fees	$220M	–	34.9%	–	–
Maintenance	$106M	-4.6%	16.8%	$430M	-4.6%
Professional Services	$63M	-2.7%	10.0%	$242M	-3.2%
Hardware and Other	–	–	–	–	–
Software Licenses And Royalties	–	–	–	–	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q3 '24

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Enterprise Software Segment	–	–	$140M	–	–	–	–
Platform Technologies Segment	–	–	$32.9M	–	–	–	–
Corporate (unallocated)	–	–	-$66.8M	–	–	–	–
Operating Segments And Corporate Non Segment	–	–	$106M	–	–	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $758M
Capex: -$18.1M
Buybacks: -$1.12B
Dividends: $0
Acquisitions: -$288M
Net debt issued: $769M
Stock-based compensation: $159M
Free cash flow: $740M
Returned to shareholders / FCF: 151.9%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	53.7×	95.8×	62.0× – 136.2×
EV / EBITDA	30.6×	48.2×	35.3× – 70.3×
EV / Sales	7.2×	10.2×	7.7× – 14.5×
Price / FCF	23.1×	47.0×	30.7× – 69.5×
Price / Book	6.2×	6.6×	5.1× – 9.5×
FCF yield	4.3%	2.3%	1.4% – 3.3%
Return on invested capital	6.8%	5.5%	4.9% – 6.4%
Return on equity	10.2%	7.0%	5.6% – 8.5%

Analysts

Consensus target $410.56 (-4.6%)
range $340.00 – $500.00 · rating Buy

Strong buy0

Buy25

Hold12

Sell0

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$2.55B	+9.4%	$13.09	+81.9%	32.9×	14
FY2027	$2.8B	+9.9%	$15.57	+18.9%	27.6×	14
FY2028	$3.08B	+9.8%	$17.76	+14.1%	24.2×	8
FY2029	$3.41B	+10.8%	$20.44	+15.1%	21.1×	5
FY2030	$3.75B	+9.9%	$23.55	+15.2%	18.3×	5

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 284 figures Tyler Technologies, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
	$1B2026-02-03	–	–	–	–	–
Accounts Payable, Current	$179M	$148M	+20.7%	$175M	$157M	+11.4%
Accounts Receivable, after Allowance for Credit Loss	$701M	$669M	+4.8%	$645M	$595M	+8.4%
Accounts Receivable, after Allowance for Credit Loss, Current	$684M	$662M	+3.4%	$639M	$588M	+8.7%
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	$16.6M	$6.86M	+141.7%	$5.97M	$7.15M	-16.6%
Accounts Receivable, Allowance for Credit Loss, Current	$25.2M	$23M	+9.6%	$32M	$17.3M	+84.5%
Accounts Receivable, Credit Loss Expense (Reversal)	–	–	–	$14.6M	-$5.5M	+366.1%
Accrued Liabilities, Current	$212M	$173M	+22.2%	$191M	$198M	-3.5%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$171M2025-12-31	$174M	-2.2%	$171M	$174M	-2.2%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$578K	-$54K	-970.4%	-$11K	-$157K	+93.0%
Additional Paid in Capital, Common Stock	$1.48B	$1.65B	-10.1%	$1.62B	$1.54B	+5.0%
Amortization of Debt Issuance Costs and Discounts	$1.66M	$648K	+155.6%	$2.53M	$2.75M	-8.0%
Amortization of Intangible Assets	–	–	–	$94.2M	$96.9M	-2.8%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$31M	$36.7M	-15.4%	$151M	$123M	+23.2%
Assets	$5.65B	$5.46B	+3.4%	$5.64B	$5.18B	+8.9%
Assets, Current	$1.66B	$1.74B	-4.4%	$1.84B	$1.44B	+28.0%
Business Combination, Acquisition Related Costs	$500K	–	–	$714K	$29K	+2,362.1%
Capital Expenditures Incurred but Not yet Paid	$782K	$50K	+1,464.0%	$312K	$254K	+22.8%
Capitalized Computer Software, Accumulated Amortization	$68.2M2025-12-31	$42.6M	+60.2%	$68.2M	$42.6M	+60.2%
Capitalized Computer Software, Additions	$1.06M	$3.74M	-71.6%	$16.8M	$29.4M	-42.9%
Capitalized Computer Software, Amortization	–	–	–	$24.5M	$20.4M	+20.2%
Capitalized Computer Software, Gross	$137M2025-12-31	$119M	+15.1%	$137M	$119M	+15.1%
Capitalized Computer Software, Net	$48.6M	$71.8M	-32.2%	$68.4M	$76.1M	-10.2%
Capitalized Contract Cost, Amortization	$6.43M	$5.51M	+16.6%	$21.9M	$19.9M	+9.9%
Capitalized Contract Cost, Impairment Loss	–	–	–	$0	$0	–
Capitalized Contract Cost, Net	$87.1M	$68.7M	+26.8%	$78.6M	$56.8M	+38.3%
Capitalized Contract Cost, Net, Current	$25.2M	$20M	+26.2%	$24M	$18M	+33.1%
Capitalized Contract Cost, Net, Noncurrent	$62M	$48.8M	+27.0%	$54.6M	$38.8M	+40.8%
Cash and Cash Equivalents, at Carrying Value	$788M	$834M	-5.5%	$1.02B	$745M	+36.3%
Cash and Cash Equivalents, Fair Value Disclosure	$788M	$834M	-5.5%	$1.02B	$745M	+36.3%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$788M	$834M	-5.5%	$1.02B	$745M	+36.3%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$107M	$46.7M	-329.6%	$271M	$579M	-53.3%
Commitments and Contingencies	$0	$0	–	$0	$0	–
Common Stock, Par or Stated Value Per Share	$0.01	$0.01	0.0%	$0.01	$0.01	0.0%
Common Stock, Shares Authorized	100M	100M	0.0%	100M	100M	0.0%
Common Stock, Shares, Issued	48.1M	48.1M	0.0%	48.1M	48.1M	0.0%
Common Stock, Shares, Outstanding	48.1M	48.1M	0.0%	–	–	–
Common Stock, Value, Issued	$481K	$481K	0.0%	$481K	$481K	0.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$94.9M	$84.5M	+12.4%	$316M	$263M	+20.0%
Contract with Customer, Liability	$864M	$783M	+10.3%	$802M	$724M	+10.8%
Contract with Customer, Liability, Current	$846M	$761M	+11.2%	$781M	$701M	+11.3%
Contract with Customer, Liability, Noncurrent	$18M	$22.2M	-19.1%	$21M	$22.4M	-6.2%
Convertible Debt	$1.41B	–	–	–	–	–
Convertible Debt, Current	$0	$599M	-100.0%	–	–	–
Convertible Debt, Noncurrent	$1.41B	$0	–	$0	$598M	-100.0%
Cost of Goods and Services Sold	$329M	$314M	+4.7%	$1.25B	$1.2B	+3.9%
Current Federal Tax Expense (Benefit)	–	–	–	$10.1M	$60.6M	-83.4%
Current Foreign Tax Expense (Benefit)	–	–	–	$807K	$385K	+109.6%
Current Income Tax Expense (Benefit)	–	–	–	$30.9M	$75.8M	-59.3%
Current State and Local Tax Expense (Benefit)	–	–	–	$20M	$14.8M	+35.1%
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	$27.4M	$769K	+3,461.8%	$337K	$2.07M	-83.7%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$0	$72K	-100.0%	$127K	$3K	+4,133.3%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	$772K	$146K	+428.8%	$144K	$213K	-32.4%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$101M	$23.1M	+335.9%	$8.9M	$13.5M	-34.1%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions	90 security	27 security	+233.3%	11 security	22 security	-50.0%
Debt Securities, Available-for-sale, Gain (Loss)	$0	$0	–	$6K	-$18K	+133.3%
Debt, Long-term and Short-term, Combined Amount	$1.41B	–	–	–	–	–
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss	$117M	$139M	-15.8%	$143M	$34.2M	+316.4%
DebtSecuritiesAvailableForSaleExcludingAccruedInterest	$116M	$139M	-16.3%	$142M	$34M	+318.9%
DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent	$91.2M	$117M	-21.9%	$81.8M	$23.3M	+251.1%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30

Data as of 2026-11-06