Figma, Inc. (FIG) vs Tyler Technologies, Inc. (TYL)

Figma, Inc. and Tyler Technologies, Inc. are both Software Application companies. Tyler Technologies, Inc. is the larger, with a market value of $13.4B against $11.4B — 1.2× the size. Figma, Inc. has negative trailing earnings, so its P/E is not meaningful; Tyler Technologies, Inc. trades at 42.7×. Figma, Inc. grew revenue faster over the last twelve months: 43.4% against 8.19%. Tyler Technologies, Inc. has the higher net margin (13.4% vs −118.2%) and the higher return on invested capital (6.61% vs 0.00%). Across the 18 metrics below, Tyler Technologies, Inc. leads on 14 and Figma, Inc. on 4.

Valuation

Metric FIG TYL Software Application median
P/E n/m 42.67 24.79
P/S 8.57 5.58 2.67
P/B 7.43 4.46 3.01
Price to free cash flow 49.65 19.20 16.59
EV/EBITDA n/m 27.92 14.40
EV/Sales 7.27 6.00 2.62
Earnings yield (17.47%) 2.34% 0.00%
Free cash flow yield 2.01% 5.21% 1.91%

Profitability

Metric FIG TYL Software Application median
Gross margin 79.14% 47.21% 67.03%
Operating margin (123.84%) 15.14% 0.00%
Net margin (118.18%) 13.36% 0.00%
Free cash flow margin 17.27% 29.05% 4.32%
Return on equity (117.60%) 9.73% 0.00%
Return on assets (69.06%) 5.78% 0.00%
Return on invested capital 0.00% 6.61% 0.00%

Growth

Metric FIG TYL Software Application median
Revenue growth (TTM) 43.43% 8.19% 12.40%
EPS growth (last fiscal year) 0.80% 19.01% —
Revenue growth, 5-year CAGR — 15.87% 13.72%
Net income growth, 5-year CAGR — 10.13% 0.00%

Health

Metric FIG TYL Software Application median
Debt to equity 0.00 0.46 0.02
Current ratio 2.45 1.55 1.55
Net debt to EBITDA 1.32 (0.98) 0.06

Dividend

Metric FIG TYL Software Application median
Dividend yield — — 1.25%
Payout ratio — 0.00 0.00

Size

Metric FIG TYL Software Application median
Market cap 11.37b 13.39b 396.11m

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