Financials Tyler Technologies, Inc.

Equities

TYL

US9022521051

Software

Market Closed - Nyse Other stock markets 21:00:02 10/04/2026 BST			5-day change	1st Jan Change
317.30 ^USD	-1.97%		-6.13%	-30.10%

04-10	BTIG Adjusts Price Target on Tyler Technologies to $420 From $470, Maintains Buy Rating	MT
04-01	Michigan?s Upper Peninsula 911 Authority Selects Tyler Technologies? Enterprise CAD and Enterprise Mobile Solutions	CI

Projected Income Statement: Tyler Technologies, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	1,592	1,850	1,952	2,138	2,332	2,530	2,776	3,010
Change	-	16.2%	5.49%	9.53%	9.1%	8.49%	9.69%	8.45%
EBITDA ¹	435.7	475	488.4	567.8	650.4	740.1	843.2	958.6
Change	-	9.02%	2.83%	16.26%	14.54%	13.79%	13.94%	13.69%
EBIT ¹	405.5	437.1	448.1	523.8	606.7	687.7	779.1	883.7
Change	-	7.79%	2.51%	16.9%	15.81%	13.35%	13.3%	13.43%
Interest Paid ¹	-23.3	-26.66	-20.3	-5.931	-4.995	-5.004	-5.004	-5
Earnings before Tax (EBT) ¹	159	187.6	198.2	308.2	390.3	471	554.9	641.6
Change	-	18%	5.67%	55.45%	26.66%	20.68%	17.79%	15.64%
Net income ¹	161.5	164.2	165.9	263	315.6	368.6	432.7	498.6
Change	-	1.72%	1.02%	58.53%	19.99%	16.79%	17.4%	15.22%
Announcement Date	16/02/22	15/02/23	14/02/24	12/02/25	11/02/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	294.8	404.1	459.9	433.5	456.1	468.7	473.2	452.2	471.9	504.3	494.7	480.9	512.4	541	543.3	541.1	565.2	596.1	595.9	575.2	608.9	642.1	644.2	636.5	668.7	703.5	705.9	699.6
Change	-	37.07%	13.81%	-5.73%	5.21%	2.76%	0.96%	-4.43%	4.34%	6.87%	-1.9%	-2.78%	6.53%	5.59%	0.44%	-0.41%	4.44%	5.48%	-0.04%	-3.47%	5.87%	5.45%	0.33%	-1.2%	5.06%	5.21%	0.34%	-0.89%
EBITDA ¹	85.65	114.7	125	110.3	119.2	119	126.9	109.8	112.5	125.5	132.5	117.9	134.6	144	152.4	142.8	162.3	169.1	169.9	149	175.4	188.1	188.9	186.2	198.8	209.6	214	214.2
Change	-	33.89%	9.02%	-11.76%	8.05%	-0.13%	6.58%	-13.44%	2.44%	11.55%	5.56%	-10.97%	14.14%	6.95%	5.87%	-6.33%	13.68%	4.21%	0.46%	-12.31%	17.75%	7.24%	0.4%	-1.45%	6.8%	5.42%	2.1%	0.11%
EBIT ¹	78.89	107.4	116.8	102.5	110.8	110.6	117.8	97.88	102.2	115.9	122.5	107.4	121.7	132.6	137.8	131.8	151.4	158.1	158.6	138.5	163.3	175.1	176.6	172.8	186.9	197.6	202.3	201.7
Change	-	36.15%	8.71%	-12.25%	8.16%	-0.2%	6.53%	-16.92%	4.47%	13.36%	5.7%	-12.34%	13.33%	8.92%	3.92%	-4.35%	14.89%	4.45%	0.3%	-12.66%	17.85%	7.23%	0.86%	-2.15%	8.18%	5.74%	2.38%	-0.3%
Charge d'intérêts ¹	-	-12.2	-4.951	-4.987	-4.44	-5.998	-9.127	-7.091	-6.438	-5.744	-5.021	-3.098	-2.184	0.63	-1.235	-1.259	-1.246	-1.262	-1.235	-1.252	-1.084	-1.126	-1.126	-1.126	-1.126	-1.126	-1.126	-1.126
Earnings before Tax (EBT) ¹	38.3	26.09	51.23	43.36	51.43	50.76	51.79	33.62	38.54	56.13	58.91	44.65	66.64	78.66	86.1	76.77	95.29	102.5	107.6	84.96	108.9	121	121.7	119.4	129	140.2	142	141.2
Change	-	-31.87%	96.36%	-15.37%	18.61%	-1.3%	2.02%	-35.08%	14.64%	45.63%	4.96%	-24.21%	49.25%	18.05%	9.45%	-10.84%	24.13%	7.58%	4.92%	-21%	28.15%	11.13%	0.61%	-1.89%	7.97%	8.73%	1.28%	-0.55%
Net income ¹	36.98	25.53	44.17	54.78	39.98	39.95	53.23	31.08	30.88	49.13	47.01	38.9	54.17	67.74	75.9	65.22	81.05	84.63	84.39	65.53	85.91	95	95.27	92.42	100.3	108.6	111.5	111.3
Change	-	-30.96%	73.01%	24.03%	-27.01%	-0.1%	33.26%	-41.62%	-0.65%	59.13%	-4.31%	-17.25%	39.24%	25.05%	12.04%	-14.07%	24.27%	4.41%	-0.28%	-22.35%	31.09%	10.59%	0.28%	-2.99%	8.51%	8.32%	2.6%	-0.13%
Announcement Date	28/04/21	28/07/21	27/10/21	16/02/22	27/04/22	27/07/22	26/10/22	15/02/23	26/04/23	26/07/23	01/11/23	14/02/24	24/04/24	24/07/24	23/10/24	12/02/25	23/04/25	30/07/25	29/10/25	11/02/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Tyler Technologies, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	980	777	470	-170	-498	-1,076	-1,800	-2,424
Change	-	-20.71%	-39.51%	-136.17%	-192.94%	-116.27%	-67.29%	-34.67%
Announcement Date	16/02/22	15/02/23	14/02/24	12/02/25	11/02/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Tyler Technologies, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	33.92	22.53	20.52	20.54	16.02	16.14	18.24	-
Change	-	-33.58%	-8.92%	0.08%	-22.01%	0.77%	13.02%	-100%
Free Cash Flow (FCF) ¹	337.8	331.3	327.4	574.7	620.8	678.4	776.8	891.5
Change	-	-1.93%	-1.17%	75.52%	8.01%	9.28%	14.52%	14.76%
Announcement Date	16/02/22	15/02/23	14/02/24	12/02/25	11/02/26	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Tyler Technologies, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	27.36%	25.67%	25.02%	26.56%	27.88%	29.25%	30.38%	31.85%
EBIT Margin (%)	25.47%	23.63%	22.96%	24.5%	26.01%	27.18%	28.07%	29.36%
EBT Margin (%)	9.98%	10.14%	10.16%	14.42%	16.74%	18.61%	19.99%	21.31%
Net margin (%)	10.14%	8.88%	8.5%	12.3%	13.53%	14.57%	15.59%	16.56%
FCF margin (%)	21.22%	17.91%	16.78%	26.88%	26.61%	26.81%	27.99%	29.61%
FCF / Net Income (%)	209.24%	201.72%	197.34%	218.49%	196.69%	184.04%	179.52%	178.8%
Profitability
ROA	4.4%	3.49%	3.54%	5.34%	5.83%	7.88%	8.5%	7.4%
ROE	7.49%	6.64%	5.97%	8.32%	8.9%	11.28%	11.87%	9.8%
Financial Health
Leverage (Debt/EBITDA)	2.25x	1.63x	0.96x	-	-	-	-	-
Debt / Free cash flow	2.9x	2.34x	1.44x	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.13%	1.22%	1.05%	0.96%	0.69%	0.64%	0.66%	-
CAPEX / EBITDA (%)	7.79%	4.74%	4.2%	3.62%	2.46%	2.18%	2.16%	-
CAPEX / FCF (%)	10.04%	6.8%	6.27%	3.57%	2.58%	2.38%	2.35%	-
Items per share
Cash flow per share ¹	-	8.997	8.895	-	14.92	17.29	19.19	-
Change	-	-	-1.13%	-	-	15.91%	10.99%	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-	62.81	69.5	77.9	84.52	97.91	113.7	-
Change	-	-	10.64%	12.09%	8.49%	15.85%	16.08%	-
EPS ¹	3.82	3.87	3.88	6.05	7.2	8.395	9.934	11.32
Change	-	1.31%	0.26%	55.93%	19.01%	16.6%	18.33%	13.9%
Nbr of stocks (in thousands)	40,976	41,640	42,124	42,799	43,028	42,454	42,454	42,454
Announcement Date	16/02/22	15/02/23	14/02/24	12/02/25	11/02/26	-	-	-