FIG vs TYL: Figma and Tyler Technologies compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Tyler Technologies is the larger company, worth $14.7B, close to Figma's $14.3B.
- Figma grew revenue faster over the last year (+48.2% vs +8.2%).
- Tyler Technologies keeps more of each dollar of revenue as operating profit (15.1% vs -123.8%).
- Figma's price assumes faster free cash flow growth: about 19% a year, against 7% for Tyler Technologies (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | FIG | TYL |
|---|---|---|
| Market cap | $14.3B | $14.7B |
| Share price | $22.50 | $329.55 |
| Revenue (last fiscal year) | $1.1B | $2.3B |
| Free cash flow (last fiscal year) | $243M | $621M |
| Revenue growth, last year | +48.2% | +8.2% |
| Revenue growth per year, last 5 fiscal years | +44.6% | +10.0% |
| Operating margin | -123.8% | 15.1% |
| Net margin | -123.2% | 13.4% |
| Return on equity | -106.8% | 10.7% |
| P/E (trailing) | — | 49.3x |
| Price / free cash flow | 58.3x | 23.0x |
| EV / EBITDA | — | 25.9x |
| FCF growth the price implies | 19.3% | 7.2% |
| Dividend yield | — | — |
| Debt / equity | 0.59x | 0.91x |
| Fundamental grade | D | C |
| Superinvestors holding it | 1 | 6 |
| Insider purchases, last 12 months | 2 | 8 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Figma
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2023 | $505M | $1.0B | -14.5% |
| 2024 | $749M | -$68M | -117.1% |
| 2025 | $1.1B | $243M | -122.2% |
Tyler Technologies
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.6B | $316M | 11.4% |
| 2022 | $1.9B | $331M | 11.6% |
| 2023 | $2.0B | $327M | 11.2% |
| 2024 | $2.1B | $575M | 14.0% |
| 2025 | $2.3B | $621M | 15.3% |
Where the revenue comes from
Figma · by regions, 2025
International$564M53%
United States$492M47%
Tyler Technologies · by segments, 2025
Enterprise Software$1.7B73%
Platform Technologies$629M27%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open FIG in InvestinglyQuestions
Which is bigger, Figma or Tyler Technologies?
Tyler Technologies (TYL), at $14.7B against $14.3B.
Which grows faster, FIG or TYL?
Figma: revenue grew +48.2% over the last year, against +8.2%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.