Tyler Technologies Inc (TYL)

Quick ratio

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Cash US$ in thousands 744,721 538,296 250,722 188,237 165,493 131,486 118,764 130,845 173,857 185,927 253,062 243,262 309,171 234,128 216,773 1,250,750 603,623 518,685 351,336 301,985
Short-term investments US$ in thousands 23,257 5,985 7,288 8,707 10,385 11,623 19,100 28,810 37,030 39,360 34,466 44,973 52,300 49,355 51,223 59,030 72,187 55,595 52,352 38,250
Receivables US$ in thousands 587,634 619,508 700,825 542,441 619,704 623,613 638,726 508,683 577,257 561,780 597,560 501,200 521,059 538,119 584,156 330,824 382,319 362,667 405,731 318,144
Total current liabilities US$ in thousands 1,065,610 1,021,640 987,332 872,925 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
Quick ratio 1.27 1.14 0.97 0.85 0.79 0.84 0.91 0.80 0.89 0.97 1.06 1.03 1.06 1.01 1.11 3.12 1.88 1.75 1.64 1.48

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($744,721K + $23,257K + $587,634K) ÷ $1,065,610K
= 1.27

The quick ratio of Tyler Technologies Inc has shown some fluctuations over the reported periods. It started at a healthy level of 1.48 on March 31, 2020, and steadily increased to reach a peak of 3.12 on March 31, 2021. This indicates the company had a strong ability to meet its short-term obligations using its most liquid assets during that period.

However, there was a significant decline in the quick ratio in the following quarters, dropping to 0.89 by December 31, 2022. This suggests a potential liquidity concern as the company may have had difficulty in meeting its short-term liabilities with readily available assets.

The ratio slightly recovered to 1.27 by December 31, 2024, but it is still lower than the levels seen in 2020 and 2021. This indicates that Tyler Technologies Inc may still be facing some challenges in maintaining its liquidity position.

Overall, while the quick ratio of Tyler Technologies Inc has shown variability, it is important for the company to carefully monitor and manage its liquidity position to ensure it can meet its short-term financial obligations effectively.