Tyler Technologies, Inc. (TYL) Key Metrics
TYL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $14.78B
- Enterprise value
- $14.04B
- P/E (TTM)
- 47.5 10-yr median 82.7
- Forward P/E
- 23.7
- PEG ratio
- 1.52
- Price / sales
- 6.1 10-yr median 8.8
- Price / book
- 4.5 10-yr median 6.1
- EV / EBITDA
- 24.2 10-yr median 42.1
- Dividend yield
- —
- Beta
- 0.85
TYL key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTYL valuation Price multiples at each fiscal year-end price.
TYL returns How much profit the business earns on the capital it uses.
TYL per-share figures Results divided by the shares outstanding at year-end.
TYL financial health Debt, liquidity and how easily interest is covered.
TYL efficiency & capital use Working capital cycle and where the cash goes.
TYL valuation history
TYL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TYL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TYL cash returned to shareholders
TYL price vs earnings per share
TYL key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $19.89B | $25.08B | $17.88B | $13.67B | $22.73B | $18.13B | $12.03B | $7.46B | $6.95B | $5.56B |
| Enterprise value | $19.43B | $24.95B | $18.40B | $14.51B | $23.75B | $17.47B | $11.78B | $7.28B | $6.72B | $5.49B |
| P/E ratio | 63.0 | 95.4 | 107.8 | 83.2 | 140.7 | 93.0 | 82.1 | 50.6 | 42.4 | 50.6 |
| Price / sales | 8.5 | 11.7 | 9.2 | 7.4 | 14.3 | 16.2 | 11.1 | 8.0 | 8.3 | 7.4 |
| Price / book | 5.4 | 7.4 | 6.1 | 5.2 | 9.8 | 9.1 | 7.4 | 5.6 | 6.0 | 6.1 |
| Price / free cash flow | 31.2 | 41.5 | 54.6 | 41.3 | 71.9 | 55.5 | 56.6 | 33.5 | 45.5 | 36.1 |
| Price / operating cash flow | 30.4 | 40.2 | 47.0 | 35.8 | 61.1 | 51.0 | 47.2 | 29.8 | 35.5 | 29.0 |
| EV / sales | 8.3 | 11.7 | 9.4 | 7.8 | 14.9 | 15.6 | 10.8 | 7.8 | 8.0 | 7.3 |
| EV / EBITDA | 35.8 | 53.5 | 46.9 | 37.4 | 72.4 | 68.1 | 49.8 | 33.4 | 31.0 | 30.2 |
| EV / free cash flow | 30.5 | 41.3 | 56.2 | 43.8 | 75.1 | 53.5 | 55.4 | 32.7 | 44.0 | 35.6 |
| Earnings yield | 1.6% | 1.0% | 0.9% | 1.2% | 0.7% | 1.1% | 1.2% | 2.0% | 2.4% | 2.0% |
| Free cash flow yield | 3.2% | 2.4% | 1.8% | 2.4% | 1.4% | 1.8% | 1.8% | 3.0% | 2.2% | 2.8% |
| Dividend yield | — | — | — | 0.1% | 0.5% | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.8% | 0.0% | 0.0% | 0.1% | 0.5% | 0.1% | 0.1% | 2.0% | 0.1% | 2.0% |
| Share price at fiscal year-end | $453.95 | $576.64 | $418.12 | $322.41 | $537.95 | $436.52 | $300.02 | $185.82 | $177.05 | $142.77 |
| Per share | ||||||||||
| Revenue per share | $53.24 | $49.15 | $45.63 | $43.64 | $37.69 | $26.89 | $27.09 | $23.31 | $21.42 | $19.41 |
| Earnings per share | $7.20 | $6.05 | $3.88 | $3.87 | $3.82 | $4.69 | $3.65 | $3.68 | $4.18 | $2.82 |
| Operating cash flow per share | $14.92 | $14.36 | $8.90 | $9.00 | $8.80 | $8.55 | $6.35 | $6.24 | $4.99 | $4.92 |
| Free cash flow per share | $14.55 | $13.89 | $7.66 | $7.81 | $7.48 | $7.87 | $5.30 | $5.55 | $3.89 | $3.96 |
| Cash per share | $25.04 | $17.66 | $4.11 | $4.97 | $8.56 | $16.27 | $6.78 | $4.45 | $5.84 | $2.05 |
| Book value per share | $84.52 | $77.90 | $68.69 | $61.90 | $55.01 | $47.83 | $40.32 | $33.02 | $29.74 | $23.50 |
| Tangible book value per share | $6.03 | −$1.18 | −$13.80 | −$21.59 | −$26.43 | $19.66 | $9.92 | $7.33 | $7.12 | −$0.05 |
| Dividends per share | — | — | — | $0.35 | $2.60 | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.37 | $0.47 | $1.24 | $1.18 | $1.32 | $0.69 | $1.05 | $0.68 | $1.10 | $0.97 |
| Debt per share | $14.67 | $14.68 | $16.29 | $24.67 | $32.86 | $0.53 | $0.58 | $0.00 | $0.00 | $0.26 |
| Shares outstanding | 43.8M | 43.5M | 42.8M | 42.4M | 42.2M | 41.5M | 40.1M | 40.1M | 39.2M | 39.0M |
| Change in shares outstanding | +0.7% | +1.7% | +0.9% | +0.4% | +1.7% | +3.5% | −0.0% | +2.2% | +0.7% | +6.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 8.9% | 8.3% | 6.0% | 6.6% | 7.5% | 10.8% | 10.0% | 11.8% | 15.7% | 12.4% |
| Return on invested capital (ROIC) | 8.9% | 7.6% | 5.3% | 5.6% | 8.8% | 12.8% | 11.4% | 13.8% | 18.2% | 13.1% |
| Return on assets (ROA) | 5.8% | 5.3% | 3.5% | 3.5% | 4.4% | 8.1% | 7.4% | 8.7% | 11.1% | 8.1% |
| Return on tangible assets | 14.3% | 15.1% | 14.4% | 14.3% | 12.5% | 13.6% | 15.1% | 19.4% | 23.4% | 24.9% |
| Free cash flow margin | 27.3% | 28.3% | 16.8% | 17.9% | 19.9% | 29.2% | 19.6% | 23.8% | 18.2% | 20.4% |
| Income quality (OCF / net income) | 2.07 | 2.37 | 2.29 | 2.32 | 2.30 | 1.82 | 1.74 | 1.70 | 1.19 | 1.75 |
| Financial health | ||||||||||
| Total debt | $642.6M | $638.4M | $696.9M | $1.05B | $1.39B | $22.2M | $23.2M | $0 | $0 | $10.0M |
| Cash & short-term investments | $1.10B | $768.0M | $175.9M | $210.9M | $361.5M | $675.8M | $272.1M | $178.6M | $229.1M | $79.7M |
| Net debt | −$454.6M | −$129.6M | $521.0M | $835.3M | $1.03B | −$653.6M | −$248.9M | −$178.6M | −$229.1M | −$69.7M |
| Debt / equity | 0.17 | 0.19 | 0.24 | 0.40 | 0.60 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 |
| Debt / assets | 0.11 | 0.12 | 0.15 | 0.22 | 0.29 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 |
| Net debt / EBITDA | −0.84 | −0.28 | 1.33 | 2.15 | 3.13 | −2.55 | −1.05 | −0.82 | −1.06 | −0.38 |
| Current ratio | 1.05 | 1.35 | 0.86 | 0.95 | 1.16 | 1.97 | 1.34 | 1.22 | 1.30 | 0.78 |
| Quick ratio | 1.05 | 1.35 | 0.86 | 0.95 | 1.10 | 1.98 | 1.34 | 1.23 | 1.30 | 0.79 |
| Interest coverage | 71.6 | 50.5 | 9.2 | 7.6 | 8.8 | 170.7 | 77.1 | — | — | 65.7 |
| Working capital | $88.4M | $375.2M | −$140.6M | −$42.5M | $134.8M | $548.8M | $170.6M | $95.0M | $114.5M | −$78.5M |
| Invested capital | $3.25B | $3.26B | $3.46B | $3.46B | $3.35B | $1.33B | $1.37B | $1.15B | $938.0M | $845.8M |
| Tangible asset value | $264.0M | −$51.3M | −$590.1M | −$915.3M | −$1.12B | $816.5M | $398.0M | $294.3M | $279.5M | −$2.0M |
| Net current asset value | −$92.2M | −$350.8M | −$878.1M | −$1.22B | −$1.44B | $491.9M | $105.1M | $52.7M | $74.3M | −$159.5M |
| Graham number | $117.04 | $102.95 | $77.43 | $73.45 | $68.78 | $71.05 | $57.57 | $52.25 | $52.87 | $38.61 |
| Graham net-net per share | −$7.81 | −$13.19 | −$25.67 | −$33.47 | −$38.22 | $8.58 | −$0.45 | −$1.53 | −$0.03 | −$5.43 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $14.9M | $109.9M | — | — | — | $0 | $0 |
| Share buybacks (net) | $152.7M | $0 | $0 | $890,000 | $13.0M | $15.5M | $17.8M | $146.6M | $7.5M | $111.8M |
| Dividend payout ratio | — | — | — | 9.1% | 68.0% | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 23.9% | 0.0% | 0.0% | 4.8% | 38.9% | 4.7% | 8.4% | 65.8% | 4.9% | 72.6% |
| Capex / revenue | 0.7% | 1.0% | 2.7% | 2.7% | 3.5% | 2.5% | 3.9% | 2.9% | 5.1% | 5.0% |
| Capex / operating cash flow | 2.5% | 3.3% | 13.9% | 13.1% | 15.0% | 8.0% | 16.5% | 11.0% | 22.0% | 19.7% |
| Capex / depreciation | 0.11 | 0.13 | 0.31 | 0.29 | 0.38 | 0.35 | 0.55 | 0.44 | 0.81 | 0.75 |
| Stock-based compensation / revenue | 6.5% | 5.7% | 5.6% | 5.6% | 6.6% | 6.0% | 5.5% | 5.6% | 4.4% | 3.9% |
| R&D / revenue | 8.8% | 5.5% | 5.6% | 5.7% | 5.9% | 7.9% | 7.5% | 6.8% | 5.6% | 5.7% |
| SG&A / revenue | 19.9% | 21.5% | 23.5% | 21.8% | 17.1% | 23.2% | 23.7% | 22.2% | 21.1% | 22.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 98.8 | 104.1 | 111.9 | 110.1 | 108.1 | 128.2 | 114.9 | 109.5 | 100.0 | 96.7 |
| Days of inventory on hand | — | — | — | — | 10.4 | -1.5 | -1.8 | -1.9 | -1.7 | -1.8 |
| Days payables outstanding | 46.4 | 43.9 | 39.3 | 36.4 | 26.4 | 8.9 | 6.8 | 5.4 | 6.2 | 6.2 |
| Cash conversion cycle (days) | 52.4 | 60.2 | 72.6 | 73.7 | 92.2 | 117.9 | 106.4 | 102.2 | 92.1 | 88.7 |
| Receivables turnover | 3.70 | 3.51 | 3.26 | 3.31 | 3.38 | 2.85 | 3.18 | 3.33 | 3.65 | 3.77 |
| Payables turnover | 7.87 | 8.32 | 9.28 | 10.03 | 13.84 | 41.11 | 54.00 | 67.88 | 58.81 | 58.85 |
| Inventory turnover | — | — | — | — | 34.98 | — | — | — | — | — |
| Asset turnover | 0.43 | 0.43 | 0.42 | 0.39 | 0.43 | 0.47 | 0.55 | 0.55 | 0.57 | 0.56 |
| Average receivables | $631.1M | $609.7M | $598.5M | $558.2M | $471.6M | $392.2M | $342.1M | $280.6M | $230.4M | $200.3M |
| Average payables | $165.7M | $151.6M | $125.6M | $112.4M | $67.0M | $14.5M | $10.9M | $7.5M | $7.7M | $7.0M |
| Average inventory | — | — | — | — | $26.5M | −$2.4M | −$2.9M | −$2.7M | −$2.1M | −$2.1M |
| Intangibles / total assets | 61.0% | 66.4% | 75.4% | 75.5% | 72.7% | 44.9% | 55.6% | 57.5% | 55.8% | 67.6% |
Computed from TYL's annual financial statements (latest annual report filed February 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TYL valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Tyler Technologies traded at 63.0 times earnings, against a 10-year median of 82.7. Based on the latest twelve months, the trailing P/E is 47.5 and the forward P/E is 23.7. Tyler Technologies earned a return on equity of 8.9% and a return on invested capital of 8.9% in fiscal 2025. It ended the year with $642.6 million of debt and $1.1 billion in cash and short-term investments, a net cash position of $454.6 million. It returned $152.7 million to shareholders: $0 in dividends and $152.7 million in share buybacks, 24% of free cash flow. The share count rose 12.5% from 39.0M to 43.8M over 9 years.
See the TYL income statement, the TYL chart for price history, or the TYL stock overview for the latest quote and news.
TYL key metrics FAQ
What is Tyler Technologies's P/E ratio?
Tyler Technologies's trailing P/E ratio is 47.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 23.7. At the end of fiscal 2025 it was 63.0, compared with a 10-year median of 82.7.
What is Tyler Technologies's EV/EBITDA?
Tyler Technologies's enterprise value was 35.8 times EBITDA at the end of fiscal 2025 (enterprise value $19.4 billion, EBITDA $543.2 million); the current EV/EBITDA is 24.2.
What is Tyler Technologies's return on equity?
Tyler Technologies's return on equity (ROE) was 8.9% in fiscal 2025: net income of $315.6 million on average shareholders' equity of $3.5 billion.
What is Tyler Technologies's ROIC?
Tyler Technologies's return on invested capital was 8.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Tyler Technologies have?
Tyler Technologies had total debt of $642.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.17 and more cash than debt.
Does Tyler Technologies buy back its shares?
Yes. Tyler Technologies spent $152.7 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.7% over the year, to 43.8M..
What is Tyler Technologies's free cash flow yield?
Tyler Technologies generated $637.5 million of free cash flow in fiscal 2025, a free cash flow yield of 3.2% on its market value at year-end ($19.9 billion).
What is Tyler Technologies's current ratio?
Tyler Technologies's current ratio was 1.05 at the end of fiscal 2025: current assets were 1.05 times current liabilities.