Manhattan Associates, Inc. (MANH) vs Tyler Technologies, Inc. (TYL)

Manhattan Associates, Inc. and Tyler Technologies, Inc. are both Software Application companies. Tyler Technologies, Inc. is the larger, with a market value of $14.9B against $13.2B — 1.1× the size. Tyler Technologies, Inc. trades at the lower P/E: 47.3× against 62.9×. Tyler Technologies, Inc. grew revenue faster over the last twelve months: 8.19% against 6.48%. Manhattan Associates, Inc. has the higher net margin (18.7% vs 13.4%) and the lower return on invested capital (0.00% vs 6.61%). Across the 22 metrics below, Tyler Technologies, Inc. leads on 13 and Manhattan Associates, Inc. on 9.

Valuation

Metric MANH TYL Software Application median
P/E 62.94 47.30 25.41
P/S 11.59 6.18 2.73
P/B 82.88 4.95 2.57
Price to free cash flow 32.70 21.28 17.58
EV/EBITDA 45.85 30.73 15.36
EV/Sales 11.43 6.61 2.59
Earnings yield 1.59% 2.11% 0.00%
Free cash flow yield 3.06% 4.70% 2.24%

Profitability

Metric MANH TYL Software Application median
Gross margin 55.81% 47.21% 67.03%
Operating margin 24.33% 15.14% 0.00%
Net margin 18.67% 13.36% 0.00%
Free cash flow margin 35.45% 29.05% 5.01%
Return on equity 96.38% 9.73% 0.00%
Return on assets 29.13% 5.78% 0.00%
Return on invested capital 0.00% 6.61% 0.00%

Growth

Metric MANH TYL Software Application median
Revenue growth (TTM) 6.48% 8.19% 12.48%
EPS growth (last fiscal year) 2.56% 19.01% 32.26%
Revenue growth, 5-year CAGR 13.02% 15.87% 14.21%
Net income growth, 5-year CAGR 20.32% 10.13% 0.00%

Health

Metric MANH TYL Software Application median
Debt to equity 0.00 0.46 0.02
Current ratio 0.98 1.55 1.52
Net debt to EBITDA (1.15) (0.98) 0.08

Dividend

Metric MANH TYL Software Application median
Dividend yield — — 0.95%
Payout ratio — — 0.29

Size

Metric MANH TYL Software Application median
Market cap 13.23b 14.89b 357.77m

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