# Tyler Technologies, Inc. (TYL): The Operating System of State & Local Governments

Page: https://stenobird.com/podcast/stock-spotlight-7027390/tyler-technologies-inc-tyl-the-operating-system-of-state-local-governments
Text version: https://stenobird.com/podcast/stock-spotlight-7027390/tyler-technologies-inc-tyl-the-operating-system-of-state-local-governments.md
Podcast: [Stock Spotlight](https://stenobird.com/podcast/stock-spotlight-7027390)
Published: 2025-10-08T13:30:00+00:00
Episode link: https://podcasters.spotify.com/pod/show/mf369/episodes/Tyler-Technologies--Inc--TYL-The-Operating-System-of-State--Local-Governments-e38tosr
Audio file: https://anchor.fm/s/fa8f9bac/podcast/play/109027675/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2025-8-30%2F327ae7ea-7a99-5a17-8202-989417fe1fbe.mp3
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JSON: https://stenobird.com/v1/public/podcasts/stock-spotlight-7027390/episodes/tyler-technologies-inc-tyl-the-operating-system-of-state-local-governments
Duration seconds: 2686

## Resource

On this episode of Stock Spotlight, Michael shines the spotlight on Tyler Technologies ($TYL), the largest pure-play provider of public sector software. Think of Tyler as the “operating system of state & local governments” — powering tax collection, court systems, payroll, permitting, and digital citizen services across 13,000+ client sites. With 98% retention and 85% recurring revenue, it’s a mission-critical business that governments simply can’t run without. Michael breaks down why Tyler scored a modest 53% on his Quality Checklist and a decent 6/9 on the Quality Growth Profile, how SaaS migration and payments (via its NIC acquisition) provide secular tailwinds, and why its 2030 roadmap — 90%+ recurring revenue and margin expansion — may prove both ambitious and achievable. He also walks through key KPIs to track, from SaaS mix to adjusted ROIC and explains why valuation remains the biggest sticking point: a $520 share price vs. ~$320 fair value in his DCF. Hear why Tyler stays on the watch list for now and why the $450–$480 technical support zone could provide a more attractive entry. ---------------------------------------------------------------- 00:00 Intro 00:38 Investment Checklist & Database 01:41 Business Overview 12:30 Industry Overview 17:42 Quality Growth Profile 20:39 Financial Statement Overview 28:08 Leadership & Incentives 35:00 KPIs to Track 36:39 Valuation & Technical Analysis 42:17 Verdict 44:12 Outro ---------------------------------------------------------------- Intro Music: Andrey Rossi – Seize the Day Outro Music: Ra – Prospect *Music provided by Uppbeat Premium Follow me on X: https://twitter.com/invest091 Subscribe to my YouTube channel: https://www.youtube.com/@stockspotlightpodcast ------------------------------------------…

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