Tyler Technologies (TYL) FY2020 results: revenue $1.1 billion, up 2.8% on the year
Tyler Technologies Inc. (TYL) reported revenue of $1.1 billion for fiscal 2020, the year ended 31 December 2020, up 2.8% on the year before. Net income was $195 million, up 33.0%, and diluted earnings per share $4.69. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$1.1 billion
+2.8% on the year
FY2013FY2020
Operating margin
15.5%
14.4% a year earlier
FY2013FY2020
Net income
$195 million
+33.0% on the year
FY2013FY2020
Diluted EPS
$4.69
+28.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,117
1,086
935
+2.8%
Cost of revenue
574
570
496
+0.8%
Gross profit
543
517
440
+5.0%
Gross margin
48.6%
47.6%
47.0%
Selling, general and administrative
260
258
208
+0.7%
Operating income
173
156
152
+10.6%
Operating margin
15.5%
14.4%
16.3%
Pre-tax income
175
160
156
+9.5%
Income tax
-19.8
13.3
8.4
Effective tax rate
-11.3%
8.3%
5.4%
Net income
195
147
147
+33.0%
Net margin
17.4%
13.5%
15.8%
Diluted EPS
$4.69
$3.65
$3.68
+28.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
355
255
250
+39.4%
Capital expenditure
22.7
37.2
27.4
-39.1%
Free cash flow
332
217
223
+52.8%
Free cash flow margin
29.8%
20.0%
23.8%
Cash from investing
-98.3
-245
-238
Cash from financing
114
88.7
-63.6
+28.7%
Depreciation and amortisation
81.7
76.7
61.8
+6.5%
Share-based compensation
67.4
60.0
52.7
+12.3%
Buybacks
15.5
17.8
147
-12.9%
Diluted shares, weighted
42m
40m
40m
+3.5%
Shares outstanding at period end
48m
48m
48m
0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,986
1,617
1,325
+22.8%
Debt
0.0
0.0
0.0
Operating lease liabilities
16.3
16.8
0.0
-3.2%
Other liabilities
605
558
466
+8.5%
Total liabilities and equity
2,607
2,192
1,791
+19.0%
Fixed assets
168
172
155
-2.2%
Goodwill
838
840
754
-0.2%
Intangible assets
322
379
277
-15.0%
Investments
155
39.4
44.3
+293.0%
Cash and equivalents
604
233
134
+159.4%
Receivables
382
374
299
+2.2%
Other assets
138
155
128
-10.7%
Total assets
2,607
2,192
1,791
+19.0%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.