Tyler Technologies (TYL) FY2018 results: revenue $935 million, up 11.2% on the year
Tyler Technologies Inc. (TYL) reported revenue of $935 million for fiscal 2018, the year ended 31 December 2018, up 11.2% on the year before. Net income was $147 million, down 13.0%, and diluted earnings per share $3.68. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$935 million
+11.2% on the year
FY2011FY2018
Operating margin
16.3%
19.4% a year earlier
FY2011FY2018
Net income
$147 million
-13.0% on the year
FY2011FY2018
Diluted EPS
$3.68
-14.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
935
841
760
+11.2%
Cost of revenue
496
442
401
+12.3%
Gross profit
440
399
359
+10.1%
Gross margin
47.0%
47.5%
47.3%
Selling, general and administrative
208
176
165
+18.0%
Operating income
152
163
138
-6.3%
Operating margin
16.3%
19.4%
18.1%
Pre-tax income
156
163
136
-4.6%
Income tax
8.4
-6.1
22.0
Effective tax rate
5.4%
-3.7%
16.2%
Net income
147
170
114
-13.0%
Net margin
15.8%
20.2%
15.0%
Diluted EPS
$3.68
$4.32
$2.92
-14.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
250
196
192
+27.8%
Capital expenditure
27.4
43.1
37.7
-36.3%
Free cash flow
223
153
154
+45.9%
Free cash flow margin
23.8%
18.2%
20.3%
Cash from investing
-238
-85.4
-50.7
Cash from financing
-63.6
39.4
-138
Depreciation and amortisation
61.8
53.4
49.8
+15.7%
Share-based compensation
52.7
37.3
29.7
+41.2%
Buybacks
147
7.5
112
+1,860.8%
Diluted shares, weighted
40m
39m
39m
+2.2%
Shares outstanding at period end
48m
48m
48m
0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,325
1,192
935
+11.2%
Debt
0.0
0.0
n/a
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
466
420
444
+11.1%
Total liabilities and equity
1,791
1,611
1,379
+11.1%
Fixed assets
155
152
124
+1.9%
Goodwill
754
658
650
+14.5%
Intangible assets
277
230
267
+20.6%
Investments
44.3
43.2
20.3
+2.7%
Cash and equivalents
134
186
36.2
-27.8%
Receivables
299
246
200
+21.4%
Other assets
128
96.2
80.0
+32.8%
Total assets
1,791
1,611
1,379
+11.1%
10-K for the year ended 31 December 2018, filed 20 February 2019: the filing.