Tyler Technologies (TYL) FY2023 results: revenue $2.0 billion, up 5.5% on the year
Tyler Technologies Inc. (TYL) reported revenue of $2.0 billion for fiscal 2023, the year ended 31 December 2023, up 5.5% on the year before. Net income was $166 million, up 1.0%, and diluted earnings per share $3.88. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$2.0 billion
+5.5% on the year
FY2016FY2023
Operating margin
11.2%
11.6% a year earlier
FY2016FY2023
Net income
$166 million
+1.0% on the year
FY2016FY2023
Diluted EPS
$3.88
+0.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
380
381
372
-0.3%
Capital expenditure
20.5
22.5
33.9
-8.9%
Free cash flow
360
359
338
+0.3%
Free cash flow margin
18.4%
19.4%
21.2%
Cash from investing
-77.0
-173
-2,091
Cash from financing
-312
-344
1,425
Depreciation and amortisation
154
159
136
-3.1%
Share-based compensation
108
103
105
+5.2%
Buybacks
0.0
0.0
13.0
Diluted shares, weighted
43m
42m
42m
+0.9%
Shares outstanding at period end
48m
48m
48m
0.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,938
2,624
2,324
+11.9%
Debt
646
987
1,341
-34.6%
Operating lease liabilities
39.8
48.0
36.3
-17.1%
Other liabilities
1,053
1,028
1,031
+2.5%
Total liabilities and equity
4,677
4,687
4,732
-0.2%
Fixed assets
170
173
181
-1.8%
Goodwill
2,532
2,489
2,360
+1.7%
Intangible assets
929
1,002
1,052
-7.3%
Investments
17.4
55.5
98.7
-68.6%
Cash and equivalents
165
174
309
-4.8%
Receivables
620
577
521
+7.4%
Other assets
243
217
210
+12.4%
Total assets
4,677
4,687
4,732
-0.2%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.