Tyler Technologies Inc (TYL)
Payables turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,757,640 | 1,660,410 | 1,583,310 | 1,364,020 | 888,812 |
| Payables | US$ in thousands | 156,817 | 146,339 | 104,813 | 119,988 | 14,011 |
| Payables turnover | 11.21 | 11.35 | 15.11 | 11.37 | 63.44 |
December 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $1,757,640K ÷ $156,817K
= 11.21
Tyler Technologies Inc's payables turnover ratio has shown fluctuations over the years.
As of December 31, 2020, the payables turnover ratio was 63.44, which indicates that the company's payables turnover was quite high during that period. This suggests that Tyler Technologies Inc was able to effectively manage its accounts payable and pay off its suppliers more frequently in 2020.
However, in the following years, the payables turnover ratio decreased significantly. By December 31, 2021, the ratio had dropped to 11.37, indicating a substantial decrease in the frequency of paying off suppliers compared to the previous year.
Subsequently, by December 31, 2022, the payables turnover ratio improved slightly to 15.11, but then declined again to 11.35 by December 31, 2023, and further to 11.21 by December 31, 2024. These lower ratios suggest that Tyler Technologies Inc took longer to pay off its suppliers during these years.
Overall, the decreasing trend in the payables turnover ratio from 2020 to 2024 may indicate potential cash flow challenges or changes in the company's supplier payment policies. Investors and analysts may need to further investigate the reasons behind these fluctuations to assess the company's financial health and liquidity position accurately.
Peer comparison
Dec 31, 2024