Tyler Technologies (NYSE:TYL) - Share price, News & Analysis

TYL fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	4/6
Past Performance	2/6
Financial Health	3/6
Dividends	0/6

TYL Overview

Tyler Technologies, Inc. provides integrated information management solutions and services for the public sector in the United States and internationally.

Rewards

Earnings are forecast to grow 26.26% per year

Risk Analysis

Has a high level of debt

Significant insider selling over the past 3 months

Tyler Technologies Competitors

Intuit

NasdaqGS:INTU

US$157.8b

Workday

NasdaqGS:WDAY

US$66.6b

Oracle

NYSE:ORCL

US$245.9b

Cisco Systems

NasdaqGS:CSCO

US$239.3b

Price History & Performance

Summary of all time highs, changes and price drops for Tyler Technologies
Historical stock prices
Current Share Price	US$482.51
52 Week High	US$340.84
52 Week Low	US$498.98
Beta	0.59
1 Month Change	1.66%
3 Month Change	6.44%
1 Year Change	39.67%
3 Year Change	96.90%
5 Year Change	181.79%
Change since IPO	5,414.40%

Shareholder Returns

	TYL	US Software	US Market
7D	3.2%	0.5%	0.1%
1Y	39.7%	38.7%	35.3%

Return vs Industry: TYL matched the US Software industry which returned 38.7% over the past year.

Return vs Market: TYL exceeded the US Market which returned 35.3% over the past year.

Price Volatility

Is TYL's price volatile compared to industry and market?
TYL volatility
TYL Beta	0.59
Industry Beta	0.95
Market Beta	1

Stable Share Price: TYL is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: TYL's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1966	6,593	H. Moore	https://www.tylertech.com

Tyler Technologies, Inc. provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. 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.

Tyler Technologies Fundamentals Summary

How do Tyler Technologies's earnings and revenue compare to its market cap?
TYL fundamental statistics
Market Cap	US$19.71b
Earnings (TTM)	US$155.88m
Revenue (TTM)	US$1.27b

126.4x

P/E Ratio

15.5x

P/S Ratio

Is TYL overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
TYL income statement (TTM)
Revenue	US$1.27b
Cost of Revenue	US$659.46m
Gross Profit	US$608.45m
Expenses	US$452.56m
Earnings	US$155.88m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	3.82
Gross Margin	47.99%
Net Profit Margin	12.29%
Debt/Equity Ratio	73.5%

How did TYL perform over the long term?

See historical performance and comparison

Valuation

Is Tyler Technologies undervalued compared to its fair value and its price relative to the market?

126.42x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: TYL ($482.51) is trading above our estimate of fair value ($341.57)

Significantly Below Fair Value: TYL is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: TYL is poor value based on its PE Ratio (126.4x) compared to the US Software industry average (59.8x).

PE vs Market: TYL is poor value based on its PE Ratio (126.4x) compared to the US market (17.9x).

Price to Earnings Growth Ratio

PEG Ratio: TYL is poor value based on its PEG Ratio (4.8x)

Price to Book Ratio

PB vs Industry: TYL is overvalued based on its PB Ratio (9.3x) compared to the US Software industry average (7.9x).

Future Growth

How is Tyler Technologies forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

26.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TYL's forecast earnings growth (26.3% per year) is above the savings rate (2%).

Earnings vs Market: TYL's earnings (26.3% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TYL's revenue (16.3% per year) is forecast to grow faster than the US market (9.8% per year).

High Growth Revenue: TYL's revenue (16.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if TYL's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Tyler Technologies performed over the past 5 years?

10.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TYL has high quality earnings.

Growing Profit Margin: TYL's current net profit margins (12.3%) are lower than last year (17%).

Past Earnings Growth Analysis

Earnings Trend: TYL's earnings have grown by 10.2% per year over the past 5 years.

Accelerating Growth: TYL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TYL had negative earnings growth (-17.4%) over the past year, making it difficult to compare to the Software industry average (22.1%).

Return on Equity

High ROE: TYL's Return on Equity (7.4%) is considered low.

Financial Health

How is Tyler Technologies's financial position?

Financial Position Analysis

Short Term Liabilities: TYL's short term assets ($928.9M) exceed its short term liabilities ($765.8M).

Long Term Liabilities: TYL's short term assets ($928.9M) do not cover its long term liabilities ($1.8B).

Debt to Equity History and Analysis

Debt Level: TYL's debt to equity ratio (73.5%) is considered high.

Reducing Debt: TYL's debt to equity ratio has increased from 16.1% to 73.5% over the past 5 years.

Debt Coverage: TYL's debt is well covered by operating cash flow (20%).

Interest Coverage: TYL's interest payments on its debt are well covered by EBIT (13.7x coverage).

Balance Sheet

Dividend

What is Tyler Technologies's current dividend yield, its reliability and sustainability?

Dividend Yield vs Market

Notable Dividend: Unable to evaluate TYL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TYL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TYL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TYL's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TYL's dividend in 3 years as they are not forecast to pay a notable one for the US market.

Next Steps

Explore strong dividend paying companies in the Software industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

8.2yrs

Average management tenure

CEO

H. Moore (53 yo)

3.33yrs

Tenure

US$4,692,182

Compensation

Mr. H. Lynn Moore, Jr., has been President of Tyler Technologies, Inc. since January 2017 and has been its Chief Executive Officer since May 10, 2018. Mr. Moore served as Executive Vice President at Tyler...

CEO Compensation Analysis

Compensation vs Market: H.'s total compensation ($USD4.69M) is below average for companies of similar size in the US market ($USD11.36M).

Compensation vs Earnings: H.'s compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: TYL's management team is seasoned and experienced (8.2 years average tenure).

Board Members

Experienced Board: TYL's board of directors are considered experienced (5 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: TYL insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2021/09/25 22:20
End of Day Share Price	2021/09/24 00:00
Earnings	2021/06/30
Annual Earnings	2020/12/31

Market Cap

7D

1Y

Updated

Data