30 years of historical data (1995–2024) · Technology · Software - Application
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Tyler Technologies, Inc. trades at 58.6x earnings, 44% below its 5-year average of 104.1x, sitting at the 61st percentile of its historical range. Compared to the Technology sector median P/E of 25.2x, the stock trades at a premium of 132%. On a free-cash-flow basis, the stock trades at 25.3x P/FCF, 52% below the 5-year average of 53.0x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.3B | $25.1B | $17.9B | $13.7B | $22.7B | $18.1B | $12.0B | $7.5B | $6.9B | $5.6B | $6.4B |
| Enterprise Value | $15.2B | $25.0B | $18.4B | $14.5B | $23.8B | $17.5B | $11.8B | $7.3B | $6.8B | $5.5B | $6.4B |
| P/E Ratio → | 58.63 | 95.31 | 107.76 | 83.31 | 140.82 | 93.07 | 82.20 | 50.49 | 40.98 | 48.89 | 98.49 |
| P/S Ratio | 7.14 | 11.73 | 9.16 | 7.39 | 14.27 | 16.23 | 11.08 | 7.97 | 8.27 | 7.36 | 10.78 |
| P/B Ratio | 4.55 | 7.40 | 6.09 | 5.21 | 9.78 | 9.13 | 7.44 | 5.63 | 5.95 | 6.08 | 7.42 |
| P/FCF | 25.26 | 41.52 | 54.61 | 41.26 | 71.88 | 55.50 | 56.57 | 33.47 | 45.50 | 36.09 | 83.28 |
| P/OCF | 24.43 | 40.15 | 47.00 | 35.84 | 61.13 | 51.05 | 47.24 | 29.80 | 35.50 | 28.99 | 71.58 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Tyler Technologies, Inc.'s enterprise value stands at 33.5x EBITDA, 39% below its 5-year average of 55.3x. The Technology sector median is 15.7x, placing the stock at a 113% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.68 | 9.43 | 7.86 | 14.95 | 15.71 | 10.88 | 7.83 | 8.04 | 7.32 | 10.84 |
| EV / EBITDA | 33.54 | 55.27 | 47.30 | 37.45 | 67.69 | 68.92 | 50.73 | 34.33 | 31.30 | 30.49 | 47.97 |
| EV / EBIT | 50.60 | 79.52 | 83.00 | 67.33 | 130.59 | 100.24 | 73.97 | 46.97 | 41.37 | 42.16 | 59.07 |
| EV / FCF | — | 41.34 | 56.24 | 43.89 | 75.30 | 53.72 | 55.59 | 32.86 | 44.29 | 35.92 | 83.71 |
Margins and return-on-capital ratios measuring operating efficiency
Tyler Technologies, Inc. earns an operating margin of 14.0%. Operating margins have expanded from 11.7% to 14.0% over the past 3 years, signaling improving operational efficiency. ROE of 8.3% is modest. ROIC of 6.7% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.0% | 41.0% | 40.3% | 39.0% | 41.8% | 46.6% | 45.6% | 45.3% | 45.9% | 45.2% | 45.9% |
| Operating Margin | 14.0% | 14.0% | 11.2% | 11.7% | 12.9% | 15.5% | 14.4% | 16.3% | 19.4% | 17.4% | 19.3% |
| Net Profit Margin | 12.3% | 12.3% | 8.5% | 8.9% | 10.1% | 17.4% | 13.5% | 15.8% | 19.5% | 14.5% | 11.0% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.3% | 8.3% | 6.0% | 6.6% | 7.5% | 10.8% | 10.0% | 11.8% | 15.7% | 12.4% | 10.8% |
| ROA | 5.3% | 5.3% | 3.5% | 3.5% | 4.4% | 8.1% | 7.4% | 8.7% | 11.1% | 8.1% | 6.7% |
| ROIC | 6.7% | 6.7% | 4.7% | 4.7% | 6.4% | 9.2% | 9.0% | 10.5% | 13.1% | 11.1% | 16.7% |
| ROCE | 7.7% | 7.7% | 5.8% | 5.6% | 6.9% | 9.3% | 10.3% | 11.8% | 14.8% | 13.0% | 16.8% |
Solvency and debt-coverage ratios — lower is generally safer
Tyler Technologies, Inc. carries a Debt/EBITDA ratio of 1.4x, which is manageable (52% below the sector average of 3.0x). The company holds a net cash position — cash of $745M exceeds total debt of $638M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 50.5x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.19 | 0.19 | 0.24 | 0.40 | 0.60 | 0.01 | 0.01 | — | — | 0.01 | 0.08 |
| Debt / EBITDA | 1.41 | 1.41 | 1.79 | 2.69 | 3.95 | 0.09 | 0.10 | — | — | 0.06 | 0.49 |
| Net Debt / Equity | — | -0.03 | 0.18 | 0.33 | 0.46 | -0.29 | -0.13 | -0.10 | -0.16 | -0.03 | 0.04 |
| Net Debt / EBITDA | -0.24 | -0.24 | 1.36 | 2.25 | 3.07 | -2.28 | -0.90 | -0.63 | -0.86 | -0.14 | 0.25 |
| Debt / FCF | — | -0.18 | 1.62 | 2.63 | 3.41 | -1.78 | -0.98 | -0.60 | -1.22 | -0.17 | 0.43 |
| Interest Coverage | 50.50 | 50.50 | 9.25 | 7.62 | 8.83 | — | — | — | — | 65.72 | — |
Net cash position: cash ($745M) exceeds total debt ($638M)
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.35x means Tyler Technologies, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.95x to 1.35x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.35 | 1.35 | 0.86 | 0.95 | 1.16 | 1.97 | 1.34 | 1.22 | 1.30 | 0.78 | 0.79 |
| Quick Ratio | 1.35 | 1.35 | 0.86 | 0.95 | 1.16 | 1.97 | 1.34 | 1.22 | 1.30 | 0.78 | 0.79 |
| Cash Ratio | 0.72 | 0.72 | 0.18 | 0.24 | 0.44 | 1.20 | 0.53 | 0.42 | 0.60 | 0.16 | 0.14 |
| Asset Turnover | — | 0.41 | 0.42 | 0.39 | 0.34 | 0.43 | 0.50 | 0.52 | 0.53 | 0.56 | 0.44 |
| Inventory Turnover | 1.83 | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 102.37 | 115.89 | 113.88 | 123.60 | 132.03 | 127.86 | 118.49 | 111.81 | 98.11 | 121.93 |
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 1.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.7% | 1.0% | 0.9% | 1.2% | 0.7% | 1.1% | 1.2% | 2.0% | 2.4% | 2.0% | 1.0% |
| FCF Yield | 4.0% | 2.4% | 1.8% | 2.4% | 1.4% | 1.8% | 1.8% | 3.0% | 2.2% | 2.8% | 1.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 2.0% | 0.1% | 2.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 2.0% | 0.1% | 2.0% | 0.0% |
| Shares Outstanding | — | $43M | $43M | $42M | $42M | $42M | $40M | $40M | $39M | $39M | $37M |
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 | $15B | 58.6 | 33.5 | 25.3 | 41.0% | 14.0% | 8.3% | 6.7% | 1.4 |
| SAP | $235B | 28.5 | 17.8 | 25.1 | 73.5% | 28.0% | 15.5% | 16.1% | 0.7 |
| UBER | $157B | 16.0 | 25.8 | 16.1 | 39.8% | 10.7% | 39.8% | 13.6% | 2.1 |
| YMM | $20B | 21.9 | 51.5 | 47.4 | 86.6% | 22.0% | 8.3% | 6.0% | 0.0 |
| QXO | $17B | -38.0 | 107.3 | 92.6 | 23.0% | -3.6% | -3.8% | -3.1% | 25.2 |
| PCOR | $9B | -82.1 | — | 39.8 | 78.4% | -8.9% | -7.9% | -9.7% | — |
| DSGX | $6B | 40.4 | 21.4 | 26.8 | 75.6% | 27.8% | 10.9% | 13.1% | 0.0 |
| COMP | $5B | -28.7 | 23.1 | 26.8 | 16.3% | -0.8% | -39.0% | -7.7% | 1.8 |
| APPF | $4B | 45.8 | 24.2 | 18.1 | 61.3% | 16.1% | 26.5% | 23.2% | 0.2 |
| COE | $3B | -20.6 | — | 3471.4 | 78.0% | -15.9% | — | — | — |
| GBTG | $3B | -18.2 | 12.0 | 15.6 | 60.1% | 4.7% | -12.2% | 4.1% | 5.0 |
| Technology Median | — | 25.2 | 15.7 | 17.3 | 49.8% | -0.9% | 1.1% | 2.9% | 3.0 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
Tyler Technologies, Inc.'s current P/E ratio is 58.6x. The historical average is 59.8x. This places it at the 61th percentile of its historical range.
Tyler Technologies, Inc.'s current EV/EBITDA is 33.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 28.6x.
Tyler Technologies, Inc.'s return on equity (ROE) is 8.3%. The historical average is 5.4%.
Based on historical data, Tyler Technologies, Inc. is trading at a P/E of 58.6x. This is at the 61th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Tyler Technologies, Inc. has 41.0% gross margin and 14.0% operating margin. Operating margin between 10-20% is typical for established companies.
Tyler Technologies, Inc.'s Debt/EBITDA ratio is 1.4x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.