Tyler Technologies, Inc. (TYL) Financial Ratios
30 years of historical data (1996–2025) · Technology · Software - Application
EV/EBITDA
↓
26.07
↓-47% vs avg
5yr avg: 49.28
30Y Low9.6·High68.9
P/FCF
↓
21.21
↓-56% vs avg
5yr avg: 48.09
30Y Low10.1·High90.0
P/B Ratio
↓
3.79
↓-44% vs avg
5yr avg: 6.77
30Y Low0.8·High14.3
ROE
↑
8.9%
↓+19% vs avg
5yr avg: 7.5%
30Y Low-98%·High30%
Debt/EBITDA
↓
1.34
↓-40% vs avg
5yr avg: 2.24
30Y Low0.1·High3.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TYL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Tyler Technologies, Inc. trades at 44.5x earnings, 55% below its 5-year average of 98.1x, sitting at the 42nd percentile of its historical range. Compared to the Technology sector median P/E of 27.2x, the stock trades at a premium of 64%. On a free-cash-flow basis, the stock trades at 21.2x P/FCF, 56% below the 5-year average of 48.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.5B | $19.9B | $25.1B | $17.9B | $13.7B | $22.7B | $18.1B | $12.0B | $7.5B | $6.9B | $5.6B |
| Enterprise Value | $13.2B | $19.5B | $25.0B | $18.4B | $14.5B | $23.8B | $17.5B | $11.8B | $7.3B | $6.8B | $5.5B |
| P/E Ratio → | 44.53 | 63.05 | 95.31 | 107.76 | 83.31 | 140.82 | 93.07 | 82.20 | 50.49 | 40.98 | 48.89 |
| P/S Ratio | 5.80 | 8.53 | 11.73 | 9.16 | 7.39 | 14.27 | 16.23 | 11.08 | 7.97 | 8.27 | 7.36 |
| P/B Ratio | 3.79 | 5.37 | 7.40 | 6.09 | 5.21 | 9.78 | 9.13 | 7.44 | 5.63 | 5.95 | 6.08 |
| P/FCF | 21.21 | 31.20 | 41.52 | 54.61 | 41.26 | 71.88 | 55.50 | 56.57 | 33.47 | 45.50 | 36.09 |
| P/OCF | 20.69 | 30.43 | 40.15 | 47.00 | 35.84 | 61.13 | 51.05 | 47.24 | 29.80 | 35.50 | 28.99 |
P/E links to full P/E history page with 30-year chart
TYL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Tyler Technologies, Inc.'s enterprise value stands at 26.1x EBITDA, 47% below its 5-year average of 49.3x. The Technology sector median is 17.3x, placing the stock at a 51% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.38 | 11.68 | 9.43 | 7.86 | 14.95 | 15.71 | 10.88 | 7.83 | 8.04 | 7.32 |
| EV / EBITDA | 26.07 | 38.67 | 55.27 | 47.30 | 37.45 | 67.69 | 68.92 | 50.73 | 34.33 | 31.30 | 30.49 |
| EV / EBIT | 36.85 | 54.66 | 79.52 | 83.00 | 67.33 | 130.59 | 100.24 | 73.97 | 46.97 | 41.37 | 42.16 |
| EV / FCF | — | 30.66 | 41.34 | 56.24 | 43.89 | 75.30 | 53.72 | 55.59 | 32.86 | 44.29 | 35.92 |
TYL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Tyler Technologies, Inc. earns an operating margin of 15.3%. Operating margins have expanded from 11.2% to 15.3% over the past 3 years, signaling improving operational efficiency. ROE of 8.9% is modest. ROIC of 8.1% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.0% | 44.0% | 41.0% | 40.3% | 39.0% | 41.8% | 46.6% | 45.6% | 45.3% | 45.9% | 45.2% |
| Operating Margin | 15.3% | 15.3% | 14.0% | 11.2% | 11.7% | 12.9% | 15.5% | 14.4% | 16.3% | 19.4% | 17.4% |
| Net Profit Margin | 13.5% | 13.5% | 12.3% | 8.5% | 8.9% | 10.1% | 17.4% | 13.5% | 15.8% | 19.5% | 14.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.9% | 8.9% | 8.3% | 6.0% | 6.6% | 7.5% | 10.8% | 10.0% | 11.8% | 15.7% | 12.4% |
| ROA | 5.8% | 5.8% | 5.3% | 3.5% | 3.5% | 4.4% | 8.1% | 7.4% | 8.7% | 11.1% | 8.1% |
| ROIC | 8.1% | 8.1% | 6.7% | 4.7% | 4.7% | 6.4% | 9.2% | 9.0% | 10.5% | 13.1% | 11.1% |
| ROCE | 8.9% | 8.9% | 7.7% | 5.8% | 5.6% | 6.9% | 9.3% | 10.3% | 11.8% | 14.8% | 13.0% |
TYL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Tyler Technologies, Inc. carries a Debt/EBITDA ratio of 1.3x, which is manageable (54% below the sector average of 2.9x). The company holds a net cash position — cash of $1.0B exceeds total debt of $676M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 71.6x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.19 | 0.24 | 0.40 | 0.60 | 0.01 | 0.01 | — | — | 0.01 |
| Debt / EBITDA | 1.34 | 1.34 | 1.41 | 1.79 | 2.69 | 3.95 | 0.09 | 0.10 | — | — | 0.06 |
| Net Debt / Equity | — | -0.09 | -0.03 | 0.18 | 0.33 | 0.46 | -0.29 | -0.13 | -0.10 | -0.16 | -0.03 |
| Net Debt / EBITDA | -0.67 | -0.67 | -0.24 | 1.36 | 2.25 | 3.07 | -2.28 | -0.90 | -0.63 | -0.86 | -0.14 |
| Debt / FCF | — | -0.53 | -0.18 | 1.62 | 2.63 | 3.41 | -1.78 | -0.98 | -0.60 | -1.22 | -0.17 |
| Interest Coverage | 71.61 | 71.61 | 52.96 | 9.39 | 7.61 | 7.82 | — | — | — | — | 65.72 |
Net cash position: cash ($1.0B) exceeds total debt ($676M)
TYL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.05x means Tyler Technologies, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.86x to 1.05x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.05 | 1.05 | 1.35 | 0.86 | 0.95 | 1.16 | 1.97 | 1.34 | 1.22 | 1.30 | 0.78 |
| Quick Ratio | 1.05 | 1.05 | 1.35 | 0.86 | 0.95 | 1.16 | 1.97 | 1.34 | 1.22 | 1.30 | 0.78 |
| Cash Ratio | 0.63 | 0.63 | 0.72 | 0.18 | 0.24 | 0.44 | 1.20 | 0.53 | 0.42 | 0.60 | 0.16 |
| Asset Turnover | — | 0.41 | 0.41 | 0.42 | 0.39 | 0.34 | 0.43 | 0.50 | 0.52 | 0.53 | 0.56 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 103.69 | 102.37 | 115.89 | 113.88 | 123.60 | 132.03 | 127.86 | 118.49 | 111.81 | 98.11 |
TYL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Tyler Technologies, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 2.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 1.6% | 1.0% | 0.9% | 1.2% | 0.7% | 1.1% | 1.2% | 2.0% | 2.4% | 2.0% |
| FCF Yield | 4.7% | 3.2% | 2.4% | 1.8% | 2.4% | 1.4% | 1.8% | 1.8% | 3.0% | 2.2% | 2.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 2.0% | 0.1% | 2.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 2.0% | 0.1% | 2.0% |
| Shares Outstanding | — | $44M | $43M | $43M | $42M | $42M | $42M | $40M | $40M | $39M | $39M |
Peer Comparison
Compare TYL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TYLYou | $14B | 44.5 | 26.1 | 21.2 | 44.0% | 15.3% | 8.9% | 8.1% | 1.3 |
 CSGS | $2B | 26.5 | 13.4 | 20.5 | 48.7% | 11.0% | 31.2% | 14.3% | 2.8 |
 NCNO | $2B | -52.8 | 119.8 | 38.7 | 60.1% | -3.4% | -3.5% | -1.2% | 13.0 |
 ALKT | $2B | -36.4 | — | 43.3 | 57.8% | -12.1% | -13.3% | -8.6% | — |
 PAYC | $7B | 14.2 | 8.6 | 20.7 | 82.2% | 33.7% | 34.9% | 40.6% | 0.1 |
 PCTY | $6B | 25.5 | 13.2 | 16.1 | 68.8% | 19.1% | 20.0% | 26.2% | 0.5 |
 SAIC | $4B | 12.3 | 6.4 | 7.4 | 12.0% | 7.1% | 23.3% | 14.2% | 0.3 |
 LDOS | $17B | 12.1 | 9.0 | 10.5 | 17.7% | 12.3% | 30.9% | 17.1% | 2.5 |
 CACI | $11B | 22.4 | 14.9 | 22.9 | 8.9% | 8.9% | 13.5% | 9.2% | 3.5 |
 BAH | $13B | 10.5 | 10.6 | 14.2 | 54.8% | 11.4% | 91.2% | 24.3% | 2.7 |
 MSFT | $3.1T | 30.3 | 19.4 | 42.9 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
| Technology Median | — | 27.2 | 17.3 | 19.8 | 48.9% | -0.6% | 2.5% | 3.0% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonTYL — Frequently Asked Questions
Quick answers to the most common questions about buying TYL stock.
What is Tyler Technologies, Inc.'s P/E ratio?
Tyler Technologies, Inc.'s current P/E ratio is 44.5x. The historical average is 60.0x. This places it at the 42th percentile of its historical range.
What is Tyler Technologies, Inc.'s EV/EBITDA?
Tyler Technologies, Inc.'s current EV/EBITDA is 26.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 29.7x.
What is Tyler Technologies, Inc.'s ROE?
Tyler Technologies, Inc.'s return on equity (ROE) is 8.9%. The historical average is 6.2%.
Is TYL stock overvalued?
Based on historical data, Tyler Technologies, Inc. is trading at a P/E of 44.5x. This is at the 42th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Tyler Technologies, Inc.'s profit margins?
Tyler Technologies, Inc. has 44.0% gross margin and 15.3% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Tyler Technologies, Inc. have?
Tyler Technologies, Inc.'s Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.