Tyler Technologies Inc (TYL)

Working capital 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 current assets	US$ in thousands	860,585	847,242	964,331	1,113,070	679,697
Total current liabilities	US$ in thousands	1,001,140	889,695	829,501	564,277	509,093
Working capital turnover		—	—	11.64	2.03	6.37

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,928,120K ÷ ($860,585K – $1,001,140K)
= —

Based on the provided working capital turnover figures for Tyler Technologies, Inc., we observe a significant fluctuation in this ratio over the past five years. In 2021, the company's working capital turnover ratio stood at 11.81, indicating that Tyler Technologies generated $11.81 in revenue for every dollar of working capital invested during that year.

This sharp increase from the previous year's value of 2.03 suggests a substantial improvement in the efficiency of the company's working capital management. However, it's noteworthy that the ratio dropped back to 6.37 in 2020, indicating a potential temporary improvement in 2021 rather than a sustained trend.

Unfortunately, specific data points for 2023 and 2022 are not provided in the table, making it difficult to assess the company's recent performance in terms of working capital turnover. It would be essential to analyze the underlying reasons behind these fluctuations to determine the effectiveness of Tyler Technologies' working capital management strategies across the years.