Tyler Technologies (TYL) financial statements
Tyler Technologies reported revenue of $2.3B in fiscal 2025, up 13.3% a year over 9 years.
Net income was $316M and the operating margin 15.3%, against 18.1% in 2016.
Free cash flow was $621M, and the company returned $175M in net buybacks.
The diluted share count rose 12% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Tyler Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $760M | $841M | $935M | $1.1B | $1.1B | $1.6B | $1.9B | $2.0B | $2.1B | $2.3B |
| Cost of revenue | $401M | $442M | $496M | $570M | $574M | $883M | $1.1B | $1.1B | $1.2B | $1.2B |
| Gross profit | $359M | $399M | $440M | $517M | $543M | $710M | $784M | $861M | $936M | $1.1B |
| Selling, general and admin | $165M | $176M | $208M | $258M | $260M | $391M | $403M | $458M | $459M | $465M |
| Operating income | $138M | $163M | $152M | $156M | $173M | $181M | $214M | $219M | $300M | $358M |
| Interest expense | — | — | — | — | $1M | $23M | $28M | $24M | $6M | $5M |
| Pre-tax income | $136M | $163M | $156M | $160M | $175M | $159M | $188M | $198M | $308M | $390M |
| Income tax | $22M | -$6M | $8M | $13M | -$20M | -$2M | $23M | $32M | $45M | $75M |
| Net income | $114M | $170M | $147M | $147M | $195M | $161M | $164M | $166M | $263M | $316M |
| EPS (diluted) | $2.92 | $4.32 | $3.68 | $3.65 | $4.69 | $3.82 | $3.87 | $3.88 | $6.05 | $7.20 |
| Diluted shares | 39M | 39M | 40M | 40M | 42M | 42M | 42M | 43M | 43M | 44M |
| Gross margin | 47.3% | 47.5% | 47.0% | 47.6% | 48.6% | 44.6% | 42.4% | 44.1% | 43.8% | 46.5% |
| Operating margin | 18.1% | 19.4% | 16.3% | 14.4% | 15.5% | 11.4% | 11.6% | 11.2% | 14.0% | 15.3% |
| Net margin | 15.0% | 20.2% | 15.8% | 13.5% | 17.4% | 10.1% | 8.9% | 8.5% | 12.3% | 13.5% |
Balance sheet
Fiscal years, from Tyler Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $56M | $229M | $179M | $272M | $758M | $408M | $211M | $176M | $768M | $1.1B |
| Receivables | $200M | $246M | $299M | $374M | $382M | $521M | $577M | $620M | $588M | $639M |
| Total current assets | $283M | $521M | $519M | $680M | $1.1B | $964M | $847M | $861M | $1.4B | $1.8B |
| Property, plant and equipment | $124M | $152M | $155M | $172M | $168M | $181M | $173M | $170M | $164M | $160M |
| Goodwill | $650M | $658M | $754M | $840M | $838M | $2.4B | $2.5B | $2.5B | $2.5B | $2.6B |
| Total assets | $1.4B | $1.6B | $1.8B | $2.2B | $2.6B | $4.7B | $4.7B | $4.7B | $5.2B | $5.6B |
| Total current liabilities | $362M | $371M | $424M | $509M | $564M | $830M | $890M | $1.0B | $1.1B | $1.8B |
| Long-term debt | — | — | — | — | — | $1.3B | $957M | $596M | $598M | — |
| Total liabilities | $423M | $420M | $466M | $575M | $621M | $2.4B | $2.1B | $1.7B | $1.8B | $1.9B |
| Shareholders' equity | $935M | $1.2B | $1.3B | $1.6B | $2.0B | $2.3B | $2.6B | $2.9B | $3.4B | $3.7B |
| Net debt | -$36M | -$186M | -$134M | -$233M | -$604M | $1.0B | $814M | $481M | -$147M | -$1.0B |
Cash flow
Fiscal years, from Tyler Technologies's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $192M | $196M | $250M | $255M | $355M | $372M | $381M | $380M | $625M | $654M |
| Capital spending | $38M | $43M | $27M | $42M | $28M | $56M | $50M | $53M | $50M | $33M |
| Free cash flow | $154M | $153M | $223M | $213M | $327M | $316M | $331M | $327M | $575M | $621M |
| Stock-based compensation | $30M | $37M | $53M | $60M | $67M | $105M | $103M | $108M | $123M | $151M |
| Share buybacks (net) | -$112M | -$7M | -$147M | -$18M | -$15M | -$13M | $0 | $0 | $0 | -$175M |
| Free cash flow margin | 20.3% | 18.2% | 23.8% | 19.6% | 29.2% | 19.9% | 17.9% | 16.8% | 26.9% | 26.6% |
Questions
What was Tyler Technologies's revenue in 2025?
$2.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Tyler Technologies generate?
$621M in fiscal 2025 (operating cash flow minus capital spending).
From Tyler Technologies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.