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 $17.1B against $14.8B — 1.2× the size. Tyler Technologies, Inc. trades at the lower P/E: 53.6× against 71.0×. Manhattan Associates, Inc. grew revenue faster over the last twelve months: 8.42% against 7.96%. Manhattan Associates, Inc. has the higher net margin (18.4% vs 13.5%) and the higher return on invested capital (13,484.1% vs 7.28%). Across the 22 metrics below, Manhattan Associates, Inc. leads on 11 and Tyler Technologies, Inc. on 11.

Valuation

Metric MANH TYL Software Application median
P/E 70.99 53.65 25.90
P/S 12.90 7.02 3.04
P/B 74.31 6.24 2.60
Price to free cash flow 39.30 23.69 17.17
EV/EBITDA 51.48 34.13 15.48
EV/Sales 12.73 7.47 2.89
Earnings yield 1.41% 1.86% 0.00%
Free cash flow yield 2.54% 4.22% 1.98%

Profitability

Metric MANH TYL Software Application median
Gross margin 55.93% 47.70% 66.89%
Operating margin 24.14% 15.59% 0.00%
Net margin 18.41% 13.51% 0.00%
Free cash flow margin 32.82% 29.63% 5.77%
Return on equity 83.51% 10.49% 0.00%
Return on assets 28.03% 6.04% 0.00%
Return on invested capital 13,484.10% 7.28% 0.00%

Growth

Metric MANH TYL Software Application median
Revenue growth (TTM) 8.42% 7.96% 12.27%
EPS growth (last fiscal year) 2.56% 19.01% 32.11%
Revenue growth, 5-year CAGR 13.02% 15.87% 14.34%
Net income growth, 5-year CAGR 20.32% 10.13% 0.00%

Health

Metric MANH TYL Software Application median
Debt to equity 0.00 0.51 0.02
Current ratio 1.07 1.33 1.53
Net debt to EBITDA (1.15) (0.98) 0.09

Dividend

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

Size

Metric MANH TYL Software Application median
Market cap 14.82b 17.11b 487.58m

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