Tyler Technologies Inc (TYL)

Pretax margin

		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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	198,236	187,205	180,077	174,706	187,592	197,333	196,780	172,113	158,981	164,033	162,736	178,455	175,042	174,420	165,036	159,644	159,838	152,155	150,229	151,510
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
Pretax margin		10.28%	9.88%	9.63%	9.52%	10.30%	10.92%	10.95%	9.97%	10.13%	11.52%	12.96%	15.73%	15.68%	15.54%	14.84%	14.31%	14.71%	14.64%	15.02%	15.76%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $198,236K ÷ $1,928,121K
= 10.28%

Tyler Technologies, Inc. has shown a consistent and relatively healthy pretax margin over the past eight quarters. The pretax margin has ranged from 9.36% to 10.82% during this period. Despite some fluctuations, the company has managed to maintain an average pretax margin of approximately 10% over the last two years. This indicates that Tyler Technologies has been effectively controlling its operating expenses and generating a reasonable level of pre-tax profit relative to its revenue. However, it is important for investors and stakeholders to continue monitoring this ratio to ensure the company's profitability remains sustainable in the long term.