JFrog Ltd. (FROG) vs Tyler Technologies, Inc. (TYL)

JFrog Ltd. and Tyler Technologies, Inc. are both Software Application companies. Tyler Technologies, Inc. is the larger, with a market value of $13.4B against $11.7B — 1.1× the size. JFrog Ltd. has negative trailing earnings, so its P/E is not meaningful; Tyler Technologies, Inc. trades at 42.7×. JFrog Ltd. grew revenue faster over the last twelve months: 26.4% against 8.19%. Tyler Technologies, Inc. has the higher net margin (13.4% vs −7.35%) and the higher return on invested capital (6.61% vs −31.7%). Across the 20 metrics below, Tyler Technologies, Inc. leads on 15 and JFrog Ltd. on 5.

Valuation

Metric FROG TYL Software Application median
P/E n/m 42.67 24.79
P/S 18.11 5.58 2.67
P/B 11.31 4.46 3.01
Price to free cash flow 64.13 19.20 16.59
EV/EBITDA n/m 27.92 14.40
EV/Sales 16.73 6.00 2.62
Earnings yield (0.41%) 2.34% 0.00%
Free cash flow yield 1.56% 5.21% 1.91%

Profitability

Metric FROG TYL Software Application median
Gross margin 77.86% 47.21% 67.03%
Operating margin (11.52%) 15.14% 0.00%
Net margin (7.35%) 13.36% 0.00%
Free cash flow margin 28.29% 29.05% 4.32%
Return on equity (4.93%) 9.73% 0.00%
Return on assets (3.27%) 5.78% 0.00%
Return on invested capital (31.70%) 6.61% 0.00%

Growth

Metric FROG TYL Software Application median
Revenue growth (TTM) 26.37% 8.19% 12.40%
EPS growth (last fiscal year) 1.59% 19.01% —
Revenue growth, 5-year CAGR 28.66% 15.87% 13.72%
Net income growth, 5-year CAGR 0.00% 10.13% 0.00%

Health

Metric FROG TYL Software Application median
Debt to equity 0.00 0.46 0.02
Current ratio 2.14 1.55 1.55
Net debt to EBITDA 9.70 (0.98) 0.06

Dividend

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

Size

Metric FROG TYL Software Application median
Market cap 11.70b 13.39b 396.11m

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