Docusign Inc. (DOCU) vs Tyler Technologies, Inc. (TYL)

Docusign Inc. and Tyler Technologies, Inc. are both Software Application companies. Tyler Technologies, Inc. is the larger, with a market value of $17.1B against $14.8B — 1.2× the size. Docusign Inc. trades at the lower P/E: 47.3× against 53.6×. Docusign Inc. grew revenue faster over the last twelve months: 8.59% against 7.96%. Tyler Technologies, Inc. has the higher net margin (13.5% vs 9.82%) and the lower return on invested capital (7.28% vs 26.7%). Across the 22 metrics below, Docusign Inc. leads on 16 and Tyler Technologies, Inc. on 6.

Valuation

Metric DOCU TYL Software Application median
P/E 47.29 53.65 25.90
P/S 4.49 7.02 3.04
P/B 8.79 6.24 2.60
Price to free cash flow 12.61 23.69 17.17
EV/EBITDA 18.80 34.13 15.48
EV/Sales 4.47 7.47 2.89
Earnings yield 2.11% 1.86% 0.00%
Free cash flow yield 7.93% 4.22% 1.98%

Profitability

Metric DOCU TYL Software Application median
Gross margin 79.49% 47.70% 66.89%
Operating margin 11.96% 15.59% 0.00%
Net margin 9.82% 13.51% 0.00%
Free cash flow margin 35.65% 29.63% 5.77%
Return on equity 17.80% 10.49% 0.00%
Return on assets 8.34% 6.04% 0.00%
Return on invested capital 26.71% 7.28% 0.00%

Growth

Metric DOCU TYL Software Application median
Revenue growth (TTM) 8.59% 7.96% 12.27%
EPS growth (last fiscal year) (70.87%) 19.01% 32.11%
Revenue growth, 5-year CAGR 17.25% 15.87% 14.34%
Net income growth, 5-year CAGR 0.00% 10.13% 0.00%

Health

Metric DOCU TYL Software Application median
Debt to equity 0.00 0.51 0.02
Current ratio 0.64 1.33 1.53
Net debt to EBITDA (1.26) (0.98) 0.09

Dividend

Metric DOCU TYL Software Application median
Dividend yield — — 1.10%
Payout ratio — — 0.28

Size

Metric DOCU TYL Software Application median
Market cap 14.75b 17.11b 487.58m

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