Tyler Technologies (MEX:TYL) Beneish M-Score: -2.74 (As of Jul. 13, 2026)

What is Tyler Technologies Beneish M-Score?

Tyler Technologies MEX:TYL 81 Beneish M-Score is -2.74 as of Jul. 13, 2026. GuruFocus rates MEX:TYL with a GF Score™ of 81/100 and a GF Value™ of MXN16,709.97. The stock has 1 warning sign investors should review. Among 2,631 Software companies, Tyler Technologies ranks better than 64.12% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.74 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Tyler Technologies's Beneish M-Score or its related term are showing as below:

MEX:TYL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.08 Med: -2.61 Max: -1.81
Current: -2.74

During the past 13 years, the highest Beneish M-Score of Tyler Technologies was -1.81. The lowest was -3.08. And the median was -2.61.

Tyler Technologies Beneish M-Score Related Terms

Tyler Technologies Beneish M-Score Historical Data

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The historical data trend for Tyler Technologies's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Tyler Technologies Beneish M-Score Chart

Tyler Technologies Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.51

-2.54

-2.63

-2.84

-2.73

Tyler Technologies Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.77	-2.77	-2.70	-2.73	-2.74

MEX:TYL vs U, DT, PTC: Beneish M-Score Comparison

For the Software - Application subindustry, Tyler Technologies's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Tyler Technologies Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Tyler Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Tyler Technologies's Beneish M-Score falls into.

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81GF Score

Tyler Technologies Inc MEX:TYL

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Tyler Technologies Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Tyler Technologies for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9226

0.528 * 0.9567

0.404 * 1.0904

0.892 * 1.0027

0.115 * 0.9678

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9321

4.679 * -0.089752

0.327 * 0.7313

-2.86

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was MXN10,596 Mil.
Revenue was 11063.116 + 10356.501 + 10930.924 + 11224.406 = MXN43,575 Mil.
Gross Profit was 5345.505 + 4717.187 + 5163.012 + 5143.836 = MXN20,370 Mil.
Total Current Assets was MXN18,774 Mil.
Total Assets was MXN86,532 Mil.
Property, Plant and Equipment(Net PPE) was MXN3,593 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN2,785 Mil.
Selling, General, & Admin. Expense(SGA) was MXN8,632 Mil.
Total Current Liabilities was MXN18,750 Mil.
Long-Term Debt & Capital Lease Obligation was MXN674 Mil.
Net Income was 1463.895 + 1179.932 + 1548.122 + 1593.459 = MXN5,785 Mil.
Non Operating Income was 138.419 + 202.384 + 199.126 + 154.004 = MXN694 Mil.
Cash Flow from Operations was 1934.223 + 4391.284 + 4681.275 + 1851.117 = MXN12,858 Mil.

Total Receivables was MXN11,454 Mil.
Revenue was 11562.259 + 11285.666 + 10698.469 + 9910.736 = MXN43,457 Mil.
Gross Profit was 5463.997 + 4939.026 + 4675.659 + 4356.814 = MXN19,435 Mil.
Total Current Assets was MXN30,011 Mil.
Total Assets was MXN106,222 Mil.
Property, Plant and Equipment(Net PPE) was MXN3,974 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN2,908 Mil.
Selling, General, & Admin. Expense(SGA) was MXN9,236 Mil.
Total Current Liabilities was MXN31,941 Mil.
Long-Term Debt & Capital Lease Obligation was MXN664 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(10596.213 / 43574.947)	/	(11453.994 / 43457.13)
	=	0.243172	/	0.26357
	=	0.9226

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(19435.496 / 43457.13)	/	(20369.54 / 43574.947)
	=	0.447234	/	0.46746
	=	0.9567

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (18773.736 + 3593.358) / 86532.057)	/	(1 - (30010.911 + 3974.23) / 106221.716)
	=	0.741517	/	0.680055
	=	1.0904

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	43574.947	/	43457.13
	=	1.0027

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(2908.467 / (2908.467 + 3974.23))	/	(2785.074 / (2785.074 + 3593.358))
	=	0.422577	/	0.436639
	=	0.9678

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(8632.143 / 43574.947)	/	(9235.758 / 43457.13)
	=	0.198099	/	0.212526
	=	0.9321

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((673.81 + 18749.915) / 86532.057)	/	((663.971 + 31941.388) / 106221.716)
	=	0.224469	/	0.306956
	=	0.7313

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(5785.408 - 693.933	-	12857.899)	/	86532.057
	=	-0.089752

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Tyler Technologies has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -2.74 mean?

Tyler Technologies (MEX:TYL) has a Beneish M-Score of -2.74 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tyler Technologies and its competitors. According to the industry distribution chart, Tyler Technologies ranks #944 out of 2631 companies in the Software industry, placing it in the top 35.9%.

Is Tyler Technologies' Beneish M-Score too high?

Tyler Technologies' current Beneish M-Score is -2.74. Based on the distribution chart, Tyler Technologies ranks #944 out of 2631 companies in the Software industry, which is above the industry midpoint. Overall, Tyler Technologies has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.

How does Tyler Technologies' Beneish M-Score compare to U and DT?

According to the Software industry distribution chart, Tyler Technologies ranks #944 out of 2631 companies for Beneish M-Score. This puts Tyler Technologies in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Software company?

A good Beneish M-Score depends on the Software industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tyler Technologies and its competitors. Tyler Technologies's current Beneish M-Score is -2.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Tyler Technologies stock overvalued right now?

Tyler Technologies (MEX:TYL) has a current Beneish M-Score of -2.74. The stock's GF Value™ is MXN16,709.97, compared to a current price of MXN9,360.00 — trading 44% below its estimated fair value. The current Beneish M-Score is -2.74. Tyler Technologies' overall GF Score™ is 81/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For Tyler Technologies (MEX:TYL), the current Beneish M-Score is -2.74 as of Jul. 13, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Tyler Technologies (MEX:TYL) Overvalued in 2026?

Based on GuruFocus' analysis, Tyler Technologies stock appears to be undervalued. The current stock price of MXN9,360.00 is trading 44% below its estimated GF Value™ of MXN16,709.97.

Key valuation signals for MEX:TYL:

Beneish M-Score: -2.74
GF Value™: MXN16,709.97 vs. price of MXN9,360.00 (44% below fair value)
GF Score™: 81/100 with 1 warning sign

No single metric tells the full story. See the MEX:TYL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Tyler Technologies Business Description

Industry Technology Software

Comparable Companies U DT PTC FROG GWRE FIG GRAB HUBS BSY SSNC XTER:SAP UBER SHOP CRM CDNS NOW ADP SNOW DDOG ADBE

Other Exchanges TYL:USA 1TYL:Italy TYP:Germany T2YL34:Brazil

Address 5101 Tennyson Parkway, Plano, TX, USA, 75024

Website https://www.tylertech.com

Tyler Technologies provides a full suite of software solutions and services that address the needs of cities, counties, schools, courts and other local government entities. The company's three core products are Munis, which is the core ERP system, Odyssey, which is the court management system, or CMS, and payments. The company also provides a variety of add-on modules and offers outsourced property tax assessment services.

81GF Score

Get the complete analysis for MEX:TYL

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN9,360.00

Price

MXN16,709.97

GF Value

View MEX:TYL Analysis

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