Tyler Technologies Inc (TYL)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 11.35 | 15.11 | 11.37 | 63.44 | 58.76 | |
| Number of days of payables | days | 32.17 | 24.16 | 32.11 | 5.75 | 6.21 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 11.35
= 32.17
The number of days of payables for Tyler Technologies, Inc. has varied over the past five years. In 2023, the company took approximately 49.55 days to pay its suppliers, which is a significant increase from the previous year's figure of 36.10 days. This suggests that the company is taking longer to settle its outstanding payables in 2023.
Compared to 2021 when Tyler Technologies took around 49.62 days to pay its suppliers, there is not much change in the number of days of payables in 2023. However, there was a notable increase in the number of days of payables from 2020 to 2021.
In 2020 and 2019, Tyler Technologies had much lower numbers of days of payables at 8.91 days and 9.60 days, respectively. This indicates that the company was able to settle its payables more quickly in those years.
Overall, the trend in the number of days of payables for Tyler Technologies, Inc. shows fluctuations over the past five years, with the company taking longer to pay its suppliers in 2023 compared to the previous years. This could be due to changes in the company's payment policies, cash flow management, or relationships with suppliers.
Peer comparison
Dec 31, 2023