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PTC vs Tyler Technologies: PTC and TYL compared
PTC is the larger company: $673M of revenue in its latest quarter (Q4 FY26) against $648M for Tyler Technologies (Q3 2026). Tyler Technologies is growing faster (+9% against -25% a year earlier). PTC is more profitable, with an operating margin of 31.6% against 18.1%.
Where the money goes: PTC and TYL
PTC (PTC) · Q4 FY26
PTC, Q4 FY26: revenue $673M (-25% year over year), operating margin 31.6%, net earnings $157M, operating cash flow $47.3M. The chart follows the revenue to costs, profit and cash.
Tyler Technologies (TYL) · Q3 2026
Tyler Technologies, Q3 2026: revenue $648M (+9% year over year), operating margin 18.1%, net earnings $95.1M, operating cash flow $282M. The chart follows the revenue to costs, profit and cash.
| PTC (PTC) | Tyler Technologies (TYL) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q3 2026 |
| Revenue | $673M | $648M |
| Revenue growth, Y/Y | -25% | +9% |
| Gross margin | 82.8% | 49.1% |
| Operating margin | 31.6% | 18.1% |
| Net earnings | $157M | $95.1M |
| Net margin | 23.4% | 14.7% |
| Operating cash flow | $47.3M | $282M |
| Free cash flow | $37.7M | $277M |
| Market value | $22.4B | $17.1B |
| P/E | 18.3× | 53.0× |
| Analysts’ mean target | $201.00 | $446.14 |
Where the revenue comes from
PTC
- Recurring revenue: $645M (96%)
- Professional services: $24.1M (4%)
- Perpetual license: $3.9M (1%)
Tyler Technologies
- Subscription and Circulation: $463M (71%)
- Maintenance: $106M (16%)
- Professional services: $63.0M (10%)
- Other: $15.8M (2%)
Questions
Which is bigger, PTC or Tyler Technologies?
PTC is the larger company: $673M of revenue in its latest quarter (Q4 FY26) against $648M for Tyler Technologies (Q3 2026).
Is PTC or Tyler Technologies growing faster?
Tyler Technologies is growing faster (+9% against -25% a year earlier).
Which is more profitable, PTC or Tyler Technologies?
PTC is more profitable, with an operating margin of 31.6% against 18.1%.
More: PTC earnings · how PTC makes money · Tyler Technologies earnings · how Tyler Technologies makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 4, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.