TYL Tyler Technologies
too hard · 62
Owner-earnings value$233.26
Price$329.55
Margin of safety
-29.2%
Quality gate · 62/100
⚠ sub-hurdle returns (median roic 6% < 9%)
Median ROIC5.7%
Gross margin47.2%
Net debt / EBITDA-0.6x
FCF conversion204%
Share count / yr+1.1%
Profitable years4/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 454.37M |
| Owner-earnings yield | 3.4% |
| Free-cash-flow yield | 5.2% |
| Growth used (normalized) | 8.0% |
| Market-implied growth (reverse DCF) | 16.9% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 9.1% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 473.75M | 8.0% | 434.38M |
| 2 | 509.13M | 7.5% | 428.01M |
| 3 | 544.30M | 6.9% | 419.55M |
| 4 | 578.86M | 6.3% | 409.11M |
| 5 | 612.39M | 5.8% | 396.83M |
| 6 | 644.43M | 5.2% | 382.89M |
| 7 | 674.56M | 4.7% | 367.48M |
| 8 | 702.33M | 4.1% | 350.81M |
| 9 | 727.32M | 3.6% | 333.10M |
| 10 | 749.14M | 3.0% | 314.58M |
⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Net cash 0.4B credited to value (interest stripped from owner earnings to avoid double-counting). · Price pays for ~17%/yr owner-earnings growth over 10y (reverse DCF); model credits 8%.