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Tyler Technologies（TYL）与Unity Software Inc.（U）财务数据对比。点击上方公司名可切换其他公司
Tyler Technologies的季度营收约是Unity Software Inc.的1.1倍（$575.2M vs $503.1M）。Tyler Technologies净利率更高（11.4% vs -17.9%，领先29.3%）。Unity Software Inc.同比增速更快（10.1% vs 6.3%）。Tyler Technologies自由现金流更多（$239.6M vs $118.7M）。过去两年Tyler Technologies的营收复合增速更高（6.0% vs 4.5%）
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
Unity Software Inc.是总部位于美国旧金山的游戏软件开发企业，2004年于丹麦成立时原名为Over the Edge Entertainment，2007年更为现名。公司核心产品Unity游戏引擎全球应用广泛，可用于开发各类电子游戏及其他互动应用，商业化授权服务覆盖全球客户。
TYL vs U — 直观对比
营收规模更大
TYL
是对方的1.1倍
$503.1M
营收增速更快
U
高出3.8%
6.3%
净利率更高
TYL
高出29.3%
-17.9%
自由现金流更多
TYL
多$120.9M
$118.7M
两年增速更快
TYL
近两年复合增速
4.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $575.2M | $503.1M |
| 净利润 | $65.5M | $-90.0M |
| 毛利率 | 45.5% | 74.3% |
| 营业利润率 | 13.0% | -21.2% |
| 净利率 | 11.4% | -17.9% |
| 营收同比 | 6.3% | 10.1% |
| 净利润同比 | 0.5% | 26.7% |
| 每股收益（稀释后） | $1.50 | $-0.21 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收TYLU
| Q4 25 | $575.2M | $503.1M | ||
| Q3 25 | $595.9M | $470.6M | ||
| Q2 25 | $596.1M | $440.9M | ||
| Q1 25 | $565.2M | $435.0M | ||
| Q4 24 | $541.1M | $457.1M | ||
| Q3 24 | $543.3M | $446.5M | ||
| Q2 24 | $541.0M | $449.3M | ||
| Q1 24 | $512.4M | $460.4M |
净利润TYLU
| Q4 25 | $65.5M | $-90.0M | ||
| Q3 25 | $84.4M | $-126.4M | ||
| Q2 25 | $84.6M | $-108.8M | ||
| Q1 25 | $81.1M | $-77.6M | ||
| Q4 24 | $65.2M | $-122.7M | ||
| Q3 24 | $75.9M | $-124.7M | ||
| Q2 24 | $67.7M | $-125.6M | ||
| Q1 24 | $54.2M | $-291.1M |
毛利率TYLU
| Q4 25 | 45.5% | 74.3% | ||
| Q3 25 | 47.2% | 74.4% | ||
| Q2 25 | 45.8% | 74.1% | ||
| Q1 25 | 47.3% | 73.8% | ||
| Q4 24 | 43.8% | 74.7% | ||
| Q3 24 | 43.7% | 74.9% | ||
| Q2 24 | 44.0% | 75.8% | ||
| Q1 24 | 43.7% | 68.6% |
营业利润率TYLU
| Q4 25 | 13.0% | -21.2% | ||
| Q3 25 | 16.4% | -26.7% | ||
| Q2 25 | 16.0% | -26.9% | ||
| Q1 25 | 15.8% | -29.4% | ||
| Q4 24 | 13.2% | -27.1% | ||
| Q3 24 | 15.2% | -28.5% | ||
| Q2 24 | 14.4% | -28.8% | ||
| Q1 24 | 13.1% | -81.4% |
净利率TYLU
| Q4 25 | 11.4% | -17.9% | ||
| Q3 25 | 14.2% | -26.9% | ||
| Q2 25 | 14.2% | -24.7% | ||
| Q1 25 | 14.3% | -17.8% | ||
| Q4 24 | 12.1% | -26.8% | ||
| Q3 24 | 14.0% | -27.9% | ||
| Q2 24 | 12.5% | -28.0% | ||
| Q1 24 | 10.6% | -63.2% |
每股收益（稀释后）TYLU
| Q4 25 | $1.50 | $-0.21 | ||
| Q3 25 | $1.93 | $-0.30 | ||
| Q2 25 | $1.93 | $-0.26 | ||
| Q1 25 | $1.84 | $-0.19 | ||
| Q4 24 | $1.48 | $-0.30 | ||
| Q3 24 | $1.74 | $-0.31 | ||
| Q2 24 | $1.57 | $-0.32 | ||
| Q1 24 | $1.26 | $-0.75 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.1B | $2.1B |
| 总债务越低越好 | $599.7M | — |
| 股东权益账面价值 | $3.7B | $3.2B |
| 总资产 | $5.6B | $6.8B |
| 负债/权益比越低杠杆越低 | 0.16× | — |
8季度趋势，按日历期对齐
现金及短期投资TYLU
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $950.8M | $1.9B | ||
| Q2 25 | $892.3M | $1.7B | ||
| Q1 25 | $807.4M | $1.5B | ||
| Q4 24 | $768.0M | $1.5B | ||
| Q3 24 | $544.3M | $1.4B | ||
| Q2 24 | $258.0M | $1.3B | ||
| Q1 24 | $196.9M | $1.2B |
总债务TYLU
| Q4 25 | $599.7M | — | ||
| Q3 25 | $599.2M | — | ||
| Q2 25 | $598.8M | — | ||
| Q1 25 | $598.4M | — | ||
| Q4 24 | $597.9M | — | ||
| Q3 24 | $597.5M | — | ||
| Q2 24 | $597.1M | — | ||
| Q1 24 | $596.6M | — |
股东权益TYLU
| Q4 25 | $3.7B | $3.2B | ||
| Q3 25 | $3.6B | $3.2B | ||
| Q2 25 | $3.6B | $3.2B | ||
| Q1 25 | $3.5B | $3.2B | ||
| Q4 24 | $3.4B | $3.2B | ||
| Q3 24 | $3.3B | $3.2B | ||
| Q2 24 | $3.1B | $3.2B | ||
| Q1 24 | $3.0B | $3.2B |
总资产TYLU
| Q4 25 | $5.6B | $6.8B | ||
| Q3 25 | $5.5B | $6.8B | ||
| Q2 25 | $5.4B | $6.7B | ||
| Q1 25 | $5.2B | $6.6B | ||
| Q4 24 | $5.2B | $6.7B | ||
| Q3 24 | $5.0B | $6.7B | ||
| Q2 24 | $4.8B | $6.7B | ||
| Q1 24 | $4.6B | $6.8B |
负债/权益比TYLU
| Q4 25 | 0.16× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.16× | — | ||
| Q1 25 | 0.17× | — | ||
| Q4 24 | 0.18× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | 0.19× | — | ||
| Q1 24 | 0.20× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $243.9M | $121.4M |
| 自由现金流经营现金流 - 资本支出 | $239.6M | $118.7M |
| 自由现金流率自由现金流/营收 | 41.7% | 23.6% |
| 资本支出强度资本支出/营收 | 0.8% | 0.5% |
| 现金转化率经营现金流/净利润 | 3.72× | — |
| 过去12个月自由现金流最近4个季度 | $637.5M | $403.9M |
8季度趋势，按日历期对齐
经营现金流TYLU
| Q4 25 | $243.9M | $121.4M | ||
| Q3 25 | $255.2M | $155.4M | ||
| Q2 25 | $98.3M | $133.1M | ||
| Q1 25 | $56.2M | $13.0M | ||
| Q4 24 | $224.8M | $112.2M | ||
| Q3 24 | $263.7M | $122.4M | ||
| Q2 24 | $64.3M | $88.4M | ||
| Q1 24 | $71.8M | $-7.4M |
自由现金流TYLU
| Q4 25 | $239.6M | $118.7M | ||
| Q3 25 | $251.3M | $151.3M | ||
| Q2 25 | $92.8M | $126.7M | ||
| Q1 25 | $53.8M | $7.3M | ||
| Q4 24 | $221.0M | $105.8M | ||
| Q3 24 | $260.8M | $115.2M | ||
| Q2 24 | $57.7M | $79.6M | ||
| Q1 24 | $64.6M | $-14.6M |
自由现金流率TYLU
| Q4 25 | 41.7% | 23.6% | ||
| Q3 25 | 42.2% | 32.1% | ||
| Q2 25 | 15.6% | 28.7% | ||
| Q1 25 | 9.5% | 1.7% | ||
| Q4 24 | 40.8% | 23.1% | ||
| Q3 24 | 48.0% | 25.8% | ||
| Q2 24 | 10.7% | 17.7% | ||
| Q1 24 | 12.6% | -3.2% |
资本支出强度TYLU
| Q4 25 | 0.8% | 0.5% | ||
| Q3 25 | 0.7% | 0.9% | ||
| Q2 25 | 0.9% | 1.5% | ||
| Q1 25 | 0.4% | 1.3% | ||
| Q4 24 | 0.7% | 1.4% | ||
| Q3 24 | 0.5% | 1.6% | ||
| Q2 24 | 1.2% | 2.0% | ||
| Q1 24 | 1.4% | 1.6% |
现金转化率TYLU
| Q4 25 | 3.72× | — | ||
| Q3 25 | 3.02× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 3.45× | — | ||
| Q3 24 | 3.47× | — | ||
| Q2 24 | 0.95× | — | ||
| Q1 24 | 1.33× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
TYL
| Saas Arrangements | $186.1M | 32% |
| Platform Technologies Segment | $143.3M | 25% |
| Maintenance | $109.4M | 19% |
| Professional Services | $55.3M | 10% |
| Nonrecurring Revenue | $51.3M | 9% |
| Other | $21.4M | 4% |
| Hardware And Other | $8.4M | 1% |
U
| Grow Solutions | $338.2M | 67% |
| Create Solutions | $164.9M | 33% |
