Tyler Technologies (TYL) FY2019 results: revenue $1.1 billion, up 16.2% on the year
Tyler Technologies Inc. (TYL) reported revenue of $1.1 billion for fiscal 2019, the year ended 31 December 2019, up 16.2% on the year before. Net income was $147 million, down 0.6%, and diluted earnings per share $3.65. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$1.1 billion
+16.2% on the year
FY2012FY2019
Operating margin
14.4%
16.3% a year earlier
FY2012FY2019
Net income
$147 million
-0.6% on the year
FY2012FY2019
Diluted EPS
$3.65
-0.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,086
935
841
+16.2%
Cost of revenue
570
496
442
+14.9%
Gross profit
517
440
399
+17.6%
Gross margin
47.6%
47.0%
47.5%
Selling, general and administrative
258
208
176
+24.2%
Operating income
156
152
163
+2.5%
Operating margin
14.4%
16.3%
19.4%
Pre-tax income
160
156
163
+2.5%
Income tax
13.3
8.4
-6.1
+58.3%
Effective tax rate
8.3%
5.4%
-3.7%
Net income
147
147
170
-0.6%
Net margin
13.5%
15.8%
20.2%
Diluted EPS
$3.65
$3.68
$4.32
-0.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
255
250
196
+1.8%
Capital expenditure
37.2
27.4
43.1
+35.8%
Free cash flow
217
223
153
-2.4%
Free cash flow margin
20.0%
23.8%
18.2%
Cash from investing
-245
-238
-85.4
Cash from financing
88.7
-63.6
39.4
Depreciation and amortisation
76.7
61.8
53.4
+24.1%
Share-based compensation
60.0
52.7
37.3
+13.7%
Buybacks
17.8
147
7.5
-87.9%
Diluted shares, weighted
40m
40m
39m
-0.0%
Shares outstanding at period end
48m
48m
48m
0.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,617
1,325
1,192
+22.1%
Debt
0.0
0.0
0.0
Operating lease liabilities
16.8
0.0
n/a
Other liabilities
558
466
420
+19.7%
Total liabilities and equity
2,192
1,791
1,611
+22.4%
Fixed assets
172
155
152
+10.8%
Goodwill
840
754
658
+11.5%
Intangible assets
379
277
230
+36.9%
Investments
39.4
44.3
43.2
-11.1%
Cash and equivalents
233
134
186
+73.3%
Receivables
374
299
246
+25.2%
Other assets
155
128
96.2
+21.0%
Total assets
2,192
1,791
1,611
+22.4%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.