Tyler Technologies Inc (TYL)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 861,099 | 783,863 | 709,644 | 542,512 | 516,900 |
| Revenue | US$ in thousands | 1,928,120 | 1,821,820 | 1,568,990 | 1,116,660 | 1,086,430 |
| Gross profit margin | 44.66% | 43.03% | 45.23% | 48.58% | 47.58% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $861,099K ÷ $1,928,120K
= 44.66%
The gross profit margin of Tyler Technologies, Inc. has shown variability over the past five years, ranging from 42.72% to 48.58%. In 2023, the gross profit margin increased to 44.77% from 42.72% in 2022. This 2023 margin is slightly below the 2021 margin of 44.57% but notably lower than the 2020 and 2019 margins of 48.58% and 47.58%, respectively. This suggests that the company's ability to generate profits from its sales has fluctuated, possibly influenced by factors such as pricing strategies, cost controls, or changes in product mix. Further analysis of the company's cost structure and revenue sources may provide insights into the drivers behind these fluctuations in gross profit margin.
Peer comparison
Dec 31, 2023