Tyler Technologies Inc (TYL)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,928,120 | 1,821,820 | 1,568,990 | 1,116,660 | 1,086,430 |
| Total assets | US$ in thousands | 4,676,660 | 4,687,420 | 4,732,160 | 2,607,270 | 2,191,610 |
| Total asset turnover | 0.41 | 0.39 | 0.33 | 0.43 | 0.50 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,928,120K ÷ $4,676,660K
= 0.41
Tyler Technologies, Inc.'s total asset turnover has exhibited fluctuations over the past five years. The total asset turnover ratio measures the efficiency with which the company generates revenue from its total assets. A higher ratio indicates better asset utilization.
In 2023, the total asset turnover ratio improved to 0.42 compared to 0.39 in 2022 and 0.43 in 2020. This suggests that Tyler Technologies utilized its assets more effectively in generating revenue in 2023. However, the ratio was lower than in 2019 when it stood at 0.50, indicating a potential decrease in asset efficiency over the years.
Overall, while the total asset turnover ratio increased in 2023, it is essential for Tyler Technologies to monitor and optimize its asset utilization to ensure sustained revenue generation relative to its asset base.
Peer comparison
Dec 31, 2023