PTC
PTC · Application Software
$193.80
0.1%Tyler Technologies
TYL · Application Software
$390.14
0.6%The short version
- PTC is the larger business, with $2.7B of revenue in fiscal 2025 against $2.3B for Tyler Technologies.
- PTC grew revenue faster (19.2%, against 9.1%).
- PTC kept more of each dollar of sales as operating profit (35.9% operating margin, against 15.3% operating margin).
- PTC turned more of its sales into free cash flow (31.3% FCF margin, against 27.3% FCF margin).
- PTC earned a higher return on the capital invested in it (17.4%, against 9.0%).
- Investors pay more for each dollar of Tyler Technologies’s earnings: a P/E of 51.7x against 18.9x for PTC.
| Latest fiscal year | PTC · FY25 | TYL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $22.3B | $16.3B |
| Revenue | $2.7B | $2.3B |
| Free cash flow | $857M | $638M |
| Net income | $734M | $316M |
| Growth | ||
| Revenue growth | 19.2% | 9.1% |
| 5-year growth | 13.4% | 15.9% |
| Share count change | 0.0% | 0.7% |
| Profitability | ||
| Gross margin | 83.8% | 46.5% |
| Operating margin | 35.9% | 15.3% |
| Net margin | 26.8% | 13.5% |
| FCF margin | 31.3% | 27.3% |
| Return on capital | 17.4% | 9.0% |
| Return on equity | 20.9% | 8.9% |
| Balance sheet | ||
| Net debt | $988M | −$498M |
| Net debt / EBITDA | 0.9x | −1.0x |
| Dividends and buybacks | $300M | $175M |
| Valuation & quality | ||
| P/E | 18.9x | 51.7x |
| Piotroski F-score | 8 | 6 |
FY16
PTC $1.1B
TYL $760M
FY17
PTC $1.2B
TYL $841M
FY18
PTC $1.2B
TYL $935M
FY19
PTC $1.3B
TYL $1.1B
FY20
PTC $1.5B
TYL $1.1B
FY21
PTC $1.8B
TYL $1.6B
FY22
PTC $1.9B
TYL $1.9B
FY23
PTC $2.1B
TYL $2.0B
FY24
PTC $2.3B
TYL $2.1B
FY25
PTC $2.7B
TYL $2.3B
PTC
TYL
FY16
PTC −3.3%
TYL 18.1%
FY17
PTC 3.6%
TYL 19.4%
FY18
PTC 5.9%
TYL 16.3%
FY19
PTC 5.0%
TYL 14.4%
FY20
PTC 14.5%
TYL 15.5%
FY21
PTC 21.1%
TYL 11.4%
FY22
PTC 23.1%
TYL 11.6%
FY23
PTC 21.9%
TYL 11.2%
FY24
PTC 25.6%
TYL 14.0%
FY25
PTC 35.9%
TYL 15.3%
PTC
TYL
FY16
PTC $157M
TYL $154M
FY17
PTC $110M
TYL $153M
FY18
PTC $212M
TYL $223M
FY19
PTC $221M
TYL $217M
FY20
PTC $214M
TYL $332M
FY21
PTC $344M
TYL $338M
FY22
PTC $416M
TYL $359M
FY23
PTC $587M
TYL $360M
FY24
PTC $736M
TYL $604M
FY25
PTC $857M
TYL $638M
PTC
TYL
FY16
PTC —
TYL —
FY17
PTC —
TYL —
FY18
PTC —
TYL —
FY19
PTC 2.2%
TYL —
FY20
PTC 10.9%
TYL —
FY21
PTC 14.3%
TYL 8.1%
FY22
PTC 10.8%
TYL 5.6%
FY23
PTC 9.1%
TYL 5.4%
FY24
PTC 11.4%
TYL 7.7%
FY25
PTC 17.4%
TYL 9.0%
PTC
TYL
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.