Tyler Technologies Inc (TYL)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	596,206	957,389	1,311,280	0	0
Total assets	US$ in thousands	4,676,660	4,687,420	4,732,160	2,607,270	2,191,610
Debt-to-assets ratio		0.13	0.20	0.28	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $596,206K ÷ $4,676,660K
= 0.13

The debt-to-assets ratio for Tyler Technologies, Inc. has shown a declining trend over the past five years. In 2023, the ratio stands at 0.14, indicating that the company has reduced its reliance on debt to finance its assets compared to the previous years.

In 2022, the ratio was 0.21, showing a slight improvement from the previous year. However, in 2021, the ratio was higher at 0.28, suggesting a higher level of debt financing in that year.

Notably, in 2020 and 2019, the company had a debt-to-assets ratio of 0.00, indicating that it had either no debt or minimal debt relative to its total assets during those years.

The decreasing trend in the debt-to-assets ratio indicates that Tyler Technologies, Inc. has been managing its debt levels effectively and may have been using alternative sources of financing or generating internal funds to support its asset growth. This trend can be viewed positively as lower debt levels typically indicate lower financial risk and increased financial stability for the company.