Tyler Technologies (TYL)
Market Price (12/23/2025): $465.23 | Market Cap: $20.1 BilSector: Information Technology | Industry: Application Software
Tyler Technologies (TYL)
Market Price (12/23/2025): $465.23Market Cap: $20.1 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26% | Weak multi-year price returns2Y Excs Rtn is -34%, 3Y Excs Rtn is -33% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.6% |
| Low stock price volatilityVol 12M is 27% | Key risksTYL key risks include [1] a heightened vulnerability to cyberattacks on its sensitive public sector client data, Show more. | |
| Megatrend and thematic driversMegatrends include Cloud Computing, Fintech & Digital Payments, and Water Infrastructure. Themes include Software as a Service (SaaS), Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26% |
| Low stock price volatilityVol 12M is 27% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Fintech & Digital Payments, and Water Infrastructure. Themes include Software as a Service (SaaS), Show more. |
| Weak multi-year price returns2Y Excs Rtn is -34%, 3Y Excs Rtn is -33% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.6% |
| Key risksTYL key risks include [1] a heightened vulnerability to cyberattacks on its sensitive public sector client data, Show more. |
Why The Stock Moved
Qualitative Assessment
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Here are five key points explaining the approximate -17.4% movement of Tyler Technologies (TYL) stock from August 31, 2025, to December 23, 2025: 1. Weaker-than-expected revenue outlook for Fiscal Year 2025 contributed to sustained pressure on the stock. Although the company reported mixed Q4 2024 results in February 2025 and provided a weaker-than-expected revenue outlook for FY2025, leading to an initial 3.3% drop in after-hours trading, this sentiment likely continued to impact the stock throughout the year. While Q3 2025 results released on October 29, 2025, slightly beat EPS and revenue estimates, the overall guidance for the fiscal year may have continued to temper investor growth expectations.2. The stock's high valuation made it vulnerable to market corrections and concerns about future demand. Tyler Technologies traded with a high P/E ratio, around 62.6 to 62.74, during this period. Such high valuations mean the stock is more susceptible to significant declines if there are any perceived weaknesses in future growth prospects or if broader economic conditions are expected to deteriorate, potentially weakening demand for Tyler's public sector software solutions.
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Stock Movement Drivers
Fundamental Drivers
The -13.3% change in TYL stock from 9/22/2025 to 12/22/2025 was primarily driven by a -15.7% change in the company's P/E Multiple.| 9222025 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 536.16 | 464.97 | -13.28% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2245.75 | 2298.29 | 2.34% |
| Net Income Margin (%) | 13.66% | 13.72% | 0.42% |
| P/E Multiple | 75.43 | 63.61 | -15.67% |
| Shares Outstanding (Mil) | 43.16 | 43.13 | 0.06% |
| Cumulative Contribution | -13.28% |
Market Drivers
9/22/2025 to 12/22/2025| Return | Correlation | |
|---|---|---|
| TYL | -13.3% | |
| Market (SPY) | 2.7% | 10.1% |
| Sector (XLK) | 2.7% | -2.3% |
Fundamental Drivers
The -19.8% change in TYL stock from 6/23/2025 to 12/22/2025 was primarily driven by a -26.1% change in the company's P/E Multiple.| 6232025 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 580.07 | 464.97 | -19.84% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2190.61 | 2298.29 | 4.92% |
| Net Income Margin (%) | 13.23% | 13.72% | 3.66% |
| P/E Multiple | 86.09 | 63.61 | -26.11% |
| Shares Outstanding (Mil) | 43.02 | 43.13 | -0.26% |
| Cumulative Contribution | -19.84% |
Market Drivers
6/23/2025 to 12/22/2025| Return | Correlation | |
|---|---|---|
| TYL | -19.8% | |
| Market (SPY) | 14.4% | 8.3% |
| Sector (XLK) | 19.7% | -3.3% |
Fundamental Drivers
The -23.2% change in TYL stock from 12/22/2024 to 12/22/2025 was primarily driven by a -41.8% change in the company's P/E Multiple.| 12222024 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 605.42 | 464.97 | -23.20% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2077.61 | 2298.29 | 10.62% |
| Net Income Margin (%) | 11.39% | 13.72% | 20.41% |
| P/E Multiple | 109.25 | 63.61 | -41.77% |
| Shares Outstanding (Mil) | 42.71 | 43.13 | -0.99% |
| Cumulative Contribution | -23.21% |
Market Drivers
12/22/2024 to 12/22/2025| Return | Correlation | |
|---|---|---|
| TYL | -23.2% | |
| Market (SPY) | 16.9% | 44.0% |
| Sector (XLK) | 23.8% | 35.2% |
Fundamental Drivers
The 45.2% change in TYL stock from 12/23/2022 to 12/22/2025 was primarily driven by a 33.7% change in the company's Net Income Margin (%).| 12232022 | 12222025 | Change | |
|---|---|---|---|
| Stock Price ($) | 320.12 | 464.97 | 45.25% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1831.52 | 2298.29 | 25.49% |
| Net Income Margin (%) | 10.26% | 13.72% | 33.69% |
| P/E Multiple | 70.86 | 63.61 | -10.22% |
| Shares Outstanding (Mil) | 41.60 | 43.13 | -3.69% |
| Cumulative Contribution | 45.05% |
Market Drivers
12/23/2023 to 12/22/2025| Return | Correlation | |
|---|---|---|
| TYL | 12.0% | |
| Market (SPY) | 47.7% | 39.3% |
| Sector (XLK) | 52.9% | 31.9% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TYL Return | 45% | 23% | -40% | 30% | 38% | -21% | 53% |
| Peers Return | � | 31% | -19% | 67% | 119% | 34% | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 113% |
Monthly Win Rates [3] | |||||||
| TYL Win Rate | 67% | 50% | 25% | 67% | 75% | 33% | |
| Peers Win Rate | 67% | 60% | 38% | 62% | 67% | 53% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| TYL Max Drawdown | -13% | -13% | -46% | -5% | -5% | -22% | |
| Peers Max Drawdown | � | -8% | -41% | -2% | -4% | -19% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: MSI, AXON, ORCL, MSFT, PLTR. See TYL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)
How Low Can It Go
| Event | TYL | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -47.9% | -25.4% |
| % Gain to Breakeven | 91.8% | 34.1% |
| Time to Breakeven | 629 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -23.0% | -33.9% |
| % Gain to Breakeven | 29.8% | 51.3% |
| Time to Breakeven | 56 days | 148 days |
| 2018 Correction | ||
| % Loss | -30.7% | -19.8% |
| % Gain to Breakeven | 44.3% | 24.7% |
| Time to Breakeven | 227 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -35.9% | -56.8% |
| % Gain to Breakeven | 55.9% | 131.3% |
| Time to Breakeven | 244 days | 1,480 days |
Compare to PLTR, CDNS, PTC, CVLT, AIB
In The Past
Tyler Technologies's stock fell -47.9% during the 2022 Inflation Shock from a high on 11/16/2021. A -47.9% loss requires a 91.8% gain to breakeven.
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Tyler Technologies, Inc. provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools. The company also provides a suite of judicial solutions comprising court case management, court and law enforcement, prosecutor, and supervision systems to handle multi-jurisdictional county or statewide implementations, and single county systems; public safety software solutions; systems and software to automate the appraisal and assessment of real and personal property, as well as tax applications for agencies that bill and collect taxes; planning, regulatory, and maintenance software solutions for public sector agencies; software applications to enhance and automate operations involving records and document management; and data and insights solutions. In addition, it offers software as a service arrangements and electronic document filing solutions for courts and law offices; software and hardware installation, data conversion, training, product modification, and maintenance and support services; and property appraisal outsourcing services for taxing jurisdictions. The company has a strategic collaboration agreement with Amazon Web Services for cloud hosting services. Tyler Technologies, Inc. was founded in 1966 and is headquartered in Plano, Texas.
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- Enterprise Resource Planning (ERP) & Financial Management: Integrated software suites for government accounting, budgeting, human resources, and payroll.
- Courts & Public Safety Solutions: Software for court case management, jury management, prosecution, law enforcement dispatch, and records management.
- Community Development & Permitting Solutions: Platforms for managing permits, licenses, inspections, code enforcement, and land use planning.
- Tax & Appraisal Solutions: Systems for property assessment, tax billing, collection, and geographic information systems (GIS).
- Data & Insights / Civic Services: Tools for data analytics, performance management, citizen engagement, and open data initiatives.
- Enterprise Content Management (ECM): Solutions for managing digital documents, records, and workflows across government agencies.
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Tyler Technologies (TYL) primarily sells integrated software and technology services to the public sector. Therefore, its major customers are government entities rather than other public or private companies. These government entities do not have stock symbols. Tyler Technologies' major customer categories include:- State governments
- County governments
- City and municipal governments
- School districts
- Court systems
- Public safety agencies (e.g., police departments, fire departments)
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Lynn Moore Jr. President & CEO
Lynn Moore Jr. has an extensive background in legal practice and corporate management. Prior to joining Tyler Technologies in September 1998, he was associated with the law firm Hughes & Luce, LLP in Dallas, Texas, where he represented various publicly and privately owned entities in corporate, securities, finance, and litigation matters. He joined Tyler as its first in-house legal counsel and has held several key positions, including Executive Vice President, General Counsel, Chief Legal Officer, and Secretary. He was appointed President in January 2017 and Chief Executive Officer in May 2018. Moore has been instrumental in overseeing more than 55 strategic mergers and acquisitions during his tenure at Tyler, and is currently leading the company's strategy to transition its technology solutions to the cloud.
Brian Miller Executive Vice President & Chief Financial Officer
Brian Miller has served as Tyler Technologies' Executive Vice President and Chief Financial Officer since February 2008. He began his career as an Audit Manager at Ernst & Young (now E&Y) for six years. Subsequently, he held various senior management positions at Metro Airlines, Inc., a regional airline holding company operating as American Eagle, including Senior VP & CFO, helping it grow to the largest regional airline in the country before its acquisition by American Airlines. Miller joined Tyler Technologies in 1997 as Vice President and Chief Accounting Officer, later becoming Vice President of Finance and Treasurer before his current role. He is a Certified Public Accountant and a graduate of Texas A&M University. Miller has overseen dozens of acquisitions that transformed Tyler into a single source of solutions for the public sector.
Jeff Puckett Chief Operating Officer
Jeff Puckett has been the Chief Operating Officer of Tyler Technologies since February 2021. He is a veteran of Tyler with over three decades of experience, having previously served as Chief Strategy Officer and President of the Courts & Justice Division, among other leadership positions. His career at Tyler Technologies spans multiple leadership roles in the software and technology sectors, focusing on business analysis, development, and software project management. Prior to joining Tyler, Puckett served as a Deputy Sheriff for Denton County, Texas, which provided him with insights into public service and technology.
Abby Diaz Chief Administrative Officer, Corporate Secretary
Abby Diaz serves as the Chief Administrative Officer and Corporate Secretary at Tyler Technologies. She oversees all legal matters and ensures compliance with regulatory requirements. Diaz also holds the title of Chief Legal Officer.
Jason Durham Chief Accounting Officer
Jason Durham is the Chief Accounting Officer at Tyler Technologies, responsible for overseeing the company's accounting functions and ensuring financial accuracy. His expertise includes corporate accounting, financial reporting, and compliance. Durham's career has included significant roles at companies such as Hitachi Vantara, Intel Corporation, and Dell Technologies, where he led various finance teams and projects in global finance operations and corporate accounting.
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The key risks to Tyler Technologies (TYL) include:
- Cybersecurity Risks and Data Breaches: Tyler Technologies handles highly sensitive data for public sector clients, making it a prime target for cyberattacks. A significant cybersecurity breach could lead to substantial financial liabilities, reputational damage, and a loss of client trust. The company has experienced such incidents in the past, leading to a notable decline in its stock price.
- Competition and Market Dynamics: Tyler Technologies operates in a competitive and fragmented market, facing both specialized government software vendors and larger, diversified technology companies. The ongoing shift to a Software-as-a-Service (SaaS) model also presents challenges, including potential short-term revenue recognition issues as the company transitions from upfront license sales to recurring subscriptions. There is also a risk of client resistance to adopting new technologies.
- Integration of AI and Technological Innovation: While artificial intelligence (AI) offers opportunities, its integration into Tyler Technologies' platforms carries execution, financial, and reputational risks. The rapid evolution of AI technology, the need for specialized skills and expertise, and a shifting legal and regulatory landscape could expose the company to operational challenges. Delays in innovation or the development of flawed AI-generated outputs could render their offerings less competitive or obsolete.
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Tyler Technologies (TYL) primarily provides proprietary software and services to the public sector, encompassing state, local, and federal government organizations, as well as K-12 school districts. Their main products and services include a wide array of integrated software solutions for critical government functions such as appraisal and tax administration, court and justice management, enterprise resource planning (ERP), public safety, civic services (e.g., permitting, licensing, 311 requests), data and insights, records/document management, and student transportation. The company is also in the process of transitioning its offerings to a Software-as-a-Service (SaaS) model.
Addressable Markets:
U.S. Market
- Government and Education IT Spending: Tyler Technologies estimates its total addressable market (TAM) for government and education IT spending in the United States to be between $12 billion and $15 billion.
- Core State, Local, and Education Addressable Market: The core state, local, and education addressable market for Tyler Technologies is estimated to be approximately $34 billion to $35 billion.
- Federal Government Software Market: The U.S. federal government software market was valued at approximately $13.5 billion in 2024 and is projected to grow to $30.5 billion by the end of 2033, demonstrating a compound annual growth rate (CAGR) of 7.3% from 2025 to 2033.
- GovTech Market (Software Segment): The software segment within the broader U.S. GovTech market held the largest share in 2024 and is anticipated to experience significant growth, aligning with the overall U.S. GovTech market's expected CAGR of about 13.2% from 2025 to 2035.
Global Market
- Worldwide Government IT Spending: The global government IT spending was projected to reach $588.9 billion in 2023. Tyler Technologies specifically focuses on application and vertical-specific software within this larger market.
- Public Sector Software Market:
- Some estimates project the global Public Sector Software Market to reach approximately $150 billion by 2033, with a CAGR of 10% from 2025 to 2033.
- Another forecast indicates that the global Public Sector Software market is expected to hit $150 billion by 2031, growing at a CAGR of 5.5% from 2025 to 2031, with an estimated value of $100 billion in 2024.
- Other sources provide lower figures for the global Public Sector Software Market, valuing it at $0.36 billion in 2024 and anticipating growth to $0.72 billion by 2033 with an 8.10% CAGR from 2025 to 2033, or growing from $0.38 billion in 2025 to $0.78 billion by 2034 with an 8.1% CAGR, or from US$ 326 million in 2024 to US$ 520.2 million by 2030 at a CAGR of 8.1%.
- The global government software market size was valued at $6.2 billion in 2024 and is expected to reach $10.3 billion by 2033, with a CAGR of 5.8% over the forecast period 2025-2033.
- Global Federal Government Software Market: This market is projected to reach $30 billion by 2031, with a CAGR of 5% from 2025 to 2031.
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Tyler Technologies (TYL) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:- Accelerated Cloud Transition and SaaS Revenue Growth: The company is heavily focused on its cloud transition strategy, with SaaS (Software as a Service) revenue growth being a primary driver. Tyler Technologies anticipates SaaS revenues to grow approximately 20% in 2026. This growth is supported by an increase in SaaS bookings, including conversions of on-premise clients to cloud-based solutions ("flips"), which saw a 64% year-over-year increase in Annual Recurring Revenue (ARR) from on-premise flips. The company's total recurring revenue is expected to grow within the 10-12% range.
- AI Innovation and New Product Development: Tyler Technologies views AI innovation strategies as central to its next growth cycle, aiming to lead the public sector's digital transformation. The company plans to leverage AI-driven product initiatives, which are expected to generate productivity gains of 10-30%, expand the total addressable market, and provide additional upside not included in long-term guidance. These AI initiatives are expected to have a natural path to monetization by delivering measurable outcomes for clients.
- Leveraging a Large Client Base and Expanding Cross-selling/Upselling: A core pillar of Tyler Technologies' growth strategy is leveraging its extensive client base. The company has demonstrated growth in subscription bookings driven by cross-selling and upselling to existing customers, indicating continued opportunities to expand its offerings within its current client roster.
- Growth in the Payments Business: Expanding its payments business is explicitly identified as one of Tyler Technologies' key growth pillars. Transaction revenue growth has been a notable contributor to overall revenue, increasing by 11.5% year-over-year to $201.3 million, even amidst headwinds from the wind-down of the Texas payments contract. This growth is driven by higher transaction volumes from both new and existing clients, as well as increased adoption of new transaction-based services.
- Expansion into New Markets and Strategic Mergers & Acquisitions (M&A): Tyler Technologies aims to expand its reach into new markets. The company also plans to be proactive and disciplined with M&A, focusing on value-accretive acquisitions to further strengthen its growth story and expand its capabilities across existing product suites.
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Tyler Technologies Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- In the third quarter of 2025, Tyler Technologies repurchased approximately $173 million of its common stock, totaling 300,000 shares.
- During the second quarter of 2025, the company made $19.87 million in share repurchases.
- In 2024, Tyler Technologies executed share repurchases totaling $18.00 million in Q4, $12.25 million in Q2, and $22.41 million in Q1.
Inbound Investments
- In February 2023, Vista Equity Partners, a global technology investment firm, acquired an additional stake worth approximately $16.6 million in Tyler Technologies.
Outbound Investments
- Tyler Technologies completed its largest acquisition to date in 2021, acquiring NIC, a digital government solutions and payments company, for $2.3 billion.
- In July 2025, the company acquired Emergency Networking, a SaaS company specializing in cloud-native software for fire and EMS agencies, for approximately $19.4 million in cash. This acquisition aims to strengthen Tyler's public safety suite and ensure compliance with new federal reporting requirements like NERIS.
- During 2024, Tyler Technologies completed the acquisitions of ResourceX and ARInspect for a combined purchase price of approximately $37 million, which added AI technology to be leveraged across its product portfolio.
Capital Expenditures
- For the full year 2025, capital expenditures are expected to be in the range of $31 million to $34 million, including approximately $18 million to $19 million of capitalized software development costs.
- In 2024, capital expenditures were expected to be in the range of $46 million to $48 million, with approximately $27 million allocated to software development costs.
- A primary focus of these capital expenditures is on capitalized software development, supporting the company's product development and cloud transition initiatives.
Latest Trefis Analyses
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|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to TYL. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 16.1% | 16.1% | -0.9% |
| 11262025 | PD | PagerDuty | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 12.0% | 12.0% | 0.0% |
| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 16.7% | 16.7% | -0.1% |
| 11212025 | HUBS | HubSpot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 12.8% | 12.8% | 0.0% |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 7.8% | 7.8% | 0.0% |
| 10032025 | TYL | Tyler Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -7.5% | -7.5% | -11.1% |
| 02282023 | TYL | Tyler Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 21.9% | 36.6% | -3.6% |
| 08312022 | TYL | Tyler Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -13.8% | 7.2% | -22.5% |
| 02282022 | TYL | Tyler Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -12.2% | -25.0% | -32.8% |
Research & Analysis
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Peer Comparisons for Tyler Technologies
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 418.84 |
| Mkt Cap | 261.6 |
| Rev LTM | 7,495 |
| Op Inc LTM | 1,817 |
| FCF LTM | 1,197 |
| FCF 3Y Avg | 1,565 |
| CFO LTM | 2,215 |
| CFO 3Y Avg | 1,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.3% |
| Rev Chg 3Y Avg | 11.5% |
| Rev Chg Q | 16.3% |
| QoQ Delta Rev Chg LTM | 3.8% |
| Op Mgn LTM | 23.5% |
| Op Mgn 3Y Avg | 18.5% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 32.1% |
| CFO/Rev 3Y Avg | 29.8% |
| FCF/Rev LTM | 23.8% |
| FCF/Rev 3Y Avg | 20.8% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Enterprise Software | 1,350 | 1,279 | 1,166 | 1,021 | 975 |
| Platform Technologies | 595 | 587 | 446 | ||
| Corporate | 7 | -16 | -19 | -19 | -9 |
| Appraisal and Tax | 115 | 120 | |||
| Total | 1,952 | 1,850 | 1,592 | 1,117 | 1,086 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Enterprise Software | 444 | 419 | 401 | 338 | 255 |
| Platform Technologies | 124 | 123 | 93 | ||
| Amortization of acquired software | -36 | -52 | -46 | -32 | -31 |
| Amortization of other intangibles | -75 | -61 | -45 | -22 | -21 |
| Corporate | -239 | -214 | -223 | -145 | -74 |
| Appraisal and Tax | 34 | 27 | |||
| Total | 219 | 214 | 181 | 173 | 156 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Corporate | 3,619 | 3,688 | 3,771 | 1,665 | 1,267 |
| Enterprise Software | 631 | 636 | 601 | 848 | 833 |
| Platform Technologies | 426 | 363 | 360 | ||
| Appraisal and Tax | 94 | 91 | |||
| Total | 4,677 | 4,687 | 4,732 | 2,607 | 2,192 |
Price Behavior
Price Behavior
| Market Price | $464.97 | |
| Market Cap ($ Bil) | 20.1 | |
| First Trading Date | 12/30/1987 | |
| Distance from 52W High | -28.1% | |
| 50 Days | 200 Days | |
| DMA Price | $474.41 | $539.62 |
| DMA Trend | down | down |
| Distance from DMA | -2.0% | -13.8% |
| 3M | 1YR | |
| Volatility | 28.1% | 27.5% |
| Downside Capture | 58.72 | 73.62 |
| Upside Capture | -18.19 | 36.08 |
| Correlation (SPY) | 9.0% | 43.7% |
TYL Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.22 | 0.12 | 0.21 | 0.27 | 0.63 | 0.82 |
| Up Beta | -0.02 | 1.08 | 1.08 | 0.79 | 0.73 | 0.79 |
| Down Beta | 0.11 | 0.03 | -0.06 | -0.03 | 0.59 | 0.82 |
| Up Capture | -52% | -50% | -42% | -11% | 23% | 54% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 9 | 19 | 28 | 55 | 118 | 387 |
| Down Capture | -21% | 24% | 57% | 63% | 81% | 95% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 10 | 22 | 34 | 68 | 128 | 361 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of TYL With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| TYL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -23.5% | 21.7% | 14.7% | 67.3% | 6.8% | -0.5% | -16.6% |
| Annualized Volatility | 27.5% | 27.8% | 19.7% | 19.3% | 15.2% | 17.6% | 35.4% |
| Sharpe Ratio | -0.99 | 0.69 | 0.57 | 2.54 | 0.23 | -0.18 | -0.25 |
| Correlation With Other Assets | 35.8% | 44.7% | 4.2% | 0.9% | 47.6% | 12.2% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of TYL With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| TYL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 0.8% | 19.4% | 15.0% | 18.9% | 11.8% | 5.1% | 35.8% |
| Annualized Volatility | 30.2% | 24.7% | 17.1% | 15.5% | 18.7% | 18.9% | 48.9% |
| Sharpe Ratio | 0.07 | 0.71 | 0.71 | 0.98 | 0.51 | 0.18 | 0.63 |
| Correlation With Other Assets | 57.2% | 58.9% | 8.9% | 5.3% | 51.2% | 26.0% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of TYL With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| TYL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 10.3% | 22.4% | 14.9% | 14.9% | 6.7% | 5.5% | 69.9% |
| Annualized Volatility | 28.5% | 24.2% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.39 | 0.85 | 0.71 | 0.84 | 0.30 | 0.23 | 0.90 |
| Correlation With Other Assets | 57.7% | 56.5% | 5.2% | 10.6% | 43.8% | 15.8% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/29/2020 | -0.2% | 4.2% | -3.0% |
| SUMMARY STATS | |||
| # Positive | 0 | 1 | 0 |
| # Negative | 1 | 0 | 1 |
| Median Positive | 4.2% | ||
| Median Negative | -0.2% | -3.0% | |
| Max Positive | 4.2% | ||
| Max Negative | -0.2% | -3.0% | |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10292025 | 10-Q 9/30/2025 |
| 6302025 | 7302025 | 10-Q 6/30/2025 |
| 3312025 | 4252025 | 10-Q 3/31/2025 |
| 12312024 | 2192025 | 10-K 12/31/2024 |
| 9302024 | 10232024 | 10-Q 9/30/2024 |
| 6302024 | 7312024 | 10-Q 6/30/2024 |
| 3312024 | 4242024 | 10-Q 3/31/2024 |
| 12312023 | 2212024 | 10-K 12/31/2023 |
| 9302023 | 11012023 | 10-Q 9/30/2023 |
| 6302023 | 7262023 | 10-Q 6/30/2023 |
| 3312023 | 4262023 | 10-Q 3/31/2023 |
| 12312022 | 2222023 | 10-K 12/31/2022 |
| 9302022 | 10272022 | 10-Q 9/30/2022 |
| 6302022 | 7292022 | 10-Q 6/30/2022 |
| 3312022 | 4272022 | 10-Q 3/31/2022 |
| 12312021 | 2232022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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