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Tyler Technologies Inc key statistics and ratios

In fiscal 2025, Tyler Technologies Inc had return on equity of 8.9% and a net margin of 13.5%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Net margin9.3%8.7%8.9%9.1%9.4%12.0%11.0%15.0%20.2%15.8%13.5%17.4%10.1%8.9%8.5%12.3%13.5%13.5%
Return on equity20.1%20.8%29.8%29.5%20.0%20.2%10.7%12.6%15.9%11.7%10.0%10.8%7.5%6.6%6.0%8.3%8.9%10.3%
Return on assets10.0%9.4%9.9%10.4%10.0%11.6%6.7%8.3%11.3%8.7%7.4%8.1%4.4%3.5%3.5%5.3%5.8%5.9%
Effective tax rate39.5%37.2%37.5%38.8%40.6%37.6%40.2%16.2%−3.7%5.4%8.3%−11.3%−1.6%12.4%16.3%14.6%19.1%22.6%
R&D as % of revenue3.8%4.8%5.3%5.5%5.6%5.2%5.1%5.7%5.6%6.8%7.5%7.9%5.9%5.7%5.6%5.5%8.8%9.7%
SG&A as % of revenue24.2%24.1%24.5%23.9%23.6%22.0%22.6%21.7%20.9%22.2%23.7%23.2%24.5%—————

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 3 checks passed · September 30, 2026
What it owns · $5.6bn
Short-term assets $1.7bnLonger-term assets $4.0bn
What it owes, and who funded it · $5.6bn
Short-term liabilities $1.2bnLonger-term liabilities $1.6bnShareholders' equity $2.8bn
  • Short-term assets cover short-term liabilities $1.7bn of assets due within a year against $1.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.7bn short-term assets against $1.6bn of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $387m against $9m of interest.

From Tyler Technologies Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

64 /100

Moderate moat

How hard Tyler Technologies's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 17 / 20

    Cash operating profit has been a median 13.3% of total assets over 10 years.

  • Pricing power 16 / 20

    Gross margin has been a median 46.6%, moving by 1.9 percentage points (standard deviation) across 10 years.

  • Durability 14 / 20

    Operating margin has been a median 14.8%; its worst year was 11.0%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 22.3% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 0.5% over five years; stock-based pay has been a median 5.6% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (79 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: DBX vs TYLTYL vs VYXFICO vs TYLRNG vs TYL

More: Application Software stocks compared, Technology sector, rankings of US companies

Figures from Tyler Technologies Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Tyler Technologies Inc.