GWRE vs TYL: Guidewire Software 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.
- Guidewire Software is the larger company, worth $15.9B, close to Tyler Technologies's $14.7B.
- Guidewire Software grew revenue faster over the last year (+15.3% vs +8.2%).
- Tyler Technologies keeps more of each dollar of revenue as operating profit (15.1% vs 10.2%).
- On earnings, Tyler Technologies is the cheaper stock (49.3x vs 84.4x).
- Guidewire Software's price assumes faster free cash flow growth: about 15% 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 | GWRE | TYL |
|---|---|---|
| Market cap | $15.9B | $14.7B |
| Share price | $167.32 | $329.55 |
| Revenue (last fiscal year) | $1.5B | $2.3B |
| Free cash flow (last fiscal year) | $359M | $621M |
| Revenue growth, last year | +15.3% | +8.2% |
| Revenue growth per year, last 5 fiscal years | +16.1% | +10.0% |
| Operating margin | 10.2% | 15.1% |
| Net margin | 9.4% | 13.4% |
| Return on equity | 11.7% | 10.7% |
| P/E (trailing) | 84.4x | 49.3x |
| Price / free cash flow | 53.7x | 23.0x |
| EV / EBITDA | 77.2x | 25.9x |
| FCF growth the price implies | 15.4% | 7.2% |
| Dividend yield | — | — |
| Debt / equity | 1.16x | 0.91x |
| Fundamental grade | D | C |
| Superinvestors holding it | 5 | 6 |
| Insider purchases, last 12 months | 0 | 8 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Guidewire Software
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $813M | -$60M | -24.5% |
| 2023 | $905M | $21M | -16.5% |
| 2024 | $980M | $177M | -5.4% |
| 2025 | $1.2B | $280M | 3.4% |
| 2026 | $1.5B | $359M | 10.2% |
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
Guidewire Software · by products, 2026
Subscription and support$971M66%
Services$270M18%
License$235M16%
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 GWRE in InvestinglyQuestions
Which is bigger, Guidewire Software or Tyler Technologies?
Guidewire Software (GWRE), at $15.9B against $14.7B.
Is GWRE or TYL cheaper?
By trailing P/E, Tyler Technologies (49.3x) is cheaper than Guidewire Software (84.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, GWRE or TYL?
Guidewire Software: revenue grew +15.3% 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.