Tyler Technologies Inc (TYL)

Working capital 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
Revenue (ttm)	US$ in thousands	1,928,121	1,895,055	1,870,112	1,834,691	1,821,826	1,806,258	1,796,802	1,725,968	1,569,383	1,424,118	1,255,387	1,134,841	1,116,663	1,122,215	1,111,869	1,115,902	1,086,427	1,039,571	1,000,238	961,174
Total current assets	US$ in thousands	860,585	841,991	856,880	745,663	847,242	860,150	957,287	859,899	964,331	878,256	928,928	1,700,350	1,113,070	990,599	873,942	712,220	679,697	569,806	453,570	402,274
Total current liabilities	US$ in thousands	1,001,140	909,034	854,217	835,028	889,695	812,248	833,859	766,460	829,501	816,225	765,779	525,356	564,277	535,045	494,262	445,055	509,093	476,814	453,732	403,380
Working capital turnover		—	—	702.26	—	—	37.71	14.56	18.47	11.64	22.96	7.69	0.97	2.03	2.46	2.93	4.18	6.37	11.18	—	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,928,121K ÷ ($860,585K – $1,001,140K)
= —

The working capital turnover ratio for Tyler Technologies, Inc. saw a significant increase in Q2 2023, reaching 714.06, a substantial improvement compared to the previous quarters. This indicates that the company efficiently utilized its working capital to generate revenue during this period. However, the ratio was not available for Q4 2023 and Q1 2023, making it challenging to assess the trend accurately for the recent periods.

Prior to Q2 2023, the working capital turnover ratio exhibited fluctuation, with lower values in Q1 2022 (18.77) and Q2 2022 (14.73), suggesting less efficient utilization of working capital in those quarters. Overall, it is evident that Tyler Technologies made significant improvements in working capital efficiency in Q2 2023, but the lack of data for Q4 2023 and Q1 2023 hinders a comprehensive trend analysis for the year.