Tyler Technologies Inc (TYL)

Payables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	1,660,405	1,635,945	1,624,151	1,603,203	1,583,309	1,546,883	1,540,240	1,496,238	1,364,022	1,188,261	1,031,813	903,286	888,812	880,225	885,386	901,334	880,073	835,310	802,525	767,255
Payables	US$ in thousands	146,339	132,661	118,534	122,361	104,813	108,121	130,998	128,284	119,988	100,569	106,727	12,386	14,011	11,073	8,640	12,958	14,977	9,060	8,062	6,011
Payables turnover		11.35	12.33	13.70	13.10	15.11	14.31	11.76	11.66	11.37	11.82	9.67	72.93	63.44	79.49	102.48	69.56	58.76	92.20	99.54	127.64

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,660,405K ÷ $146,339K
= 11.35

Tyler Technologies, Inc. has shown fluctuations in its payables turnover ratio over the past eight quarters. The payables turnover ratio measures how efficiently the company is managing its accounts payable by calculating how many times the company pays off its suppliers in a given period.

The payables turnover ratio for Tyler Technologies, Inc. ranged from 7.37 to 10.11 over the last eight quarters. The higher the ratio, the more frequently the company is paying its suppliers, indicating better liquidity and potentially strong bargaining power with vendors. A lower ratio may suggest that the company is taking longer to pay its suppliers, which could be due to various reasons such as cash flow constraints or more extended payment terms negotiated with suppliers.

In terms of trends, the payables turnover ratio peaked at 10.11 in Q4 2022 before experiencing fluctuations in subsequent quarters. The downward trend observed in more recent quarters could indicate a possible increase in accounts payable outstanding or a shift in the company's payment practices.

Overall, it is essential for investors and stakeholders to monitor trends in Tyler Technologies, Inc.'s payables turnover ratio to assess the efficiency of the company's management of its accounts payable and its overall financial health.