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Tyler Technologies（TYL）与Walker & Dunlop, Inc.（WD）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Walker & Dunlop, Inc.的1.8倍（$613.5M vs $340.0M），Tyler Technologies净利率更高（13.2% vs -12.9%，领先26.1%），Tyler Technologies同比增速更快（8.6% vs -0.4%），Tyler Technologies自由现金流更多（$2.0M vs $-680.1M），过去两年Walker & Dunlop, Inc.的营收复合增速更高（22.1% vs 6.5%）
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。
Walker & Dunlop, Inc.是美国乃至全球规模领先的商业地产金融与咨询服务机构，为客户提供覆盖商业地产领域的多元金融解决方案及专业咨询服务，业务辐射全球多个市场，在行业内拥有深厚的资源积累与广泛的市场认可度。
TYL vs WD — 直观对比
营收规模更大
TYL
是对方的1.8倍
$340.0M
营收增速更快
TYL
高出9.0%
-0.4%
净利率更高
TYL
高出26.1%
-12.9%
自由现金流更多
TYL
多$682.1M
$-680.1M
两年增速更快
WD
近两年复合增速
6.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $613.5M | $340.0M |
| 净利润 | $81.2M | $-13.9M |
| 毛利率 | 48.3% | — |
| 营业利润率 | 16.3% | -17.2% |
| 净利率 | 13.2% | -12.9% |
| 营收同比 | 8.6% | -0.4% |
| 净利润同比 | — | -131.0% |
| 每股收益（稀释后） | $1.88 | $-0.41 |
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TYLWD
| Q1 26 | $613.5M | — | ||
| Q4 25 | $575.2M | $340.0M | ||
| Q3 25 | $595.9M | $337.7M | ||
| Q2 25 | $596.1M | $319.2M | ||
| Q1 25 | $565.2M | $237.4M | ||
| Q4 24 | $541.1M | $341.5M | ||
| Q3 24 | $543.3M | $292.3M | ||
| Q2 24 | $541.0M | $270.7M |
净利润TYLWD
| Q1 26 | $81.2M | — | ||
| Q4 25 | $65.5M | $-13.9M | ||
| Q3 25 | $84.4M | $33.5M | ||
| Q2 25 | $84.6M | $34.0M | ||
| Q1 25 | $81.1M | $2.8M | ||
| Q4 24 | $65.2M | $44.8M | ||
| Q3 24 | $75.9M | $28.8M | ||
| Q2 24 | $67.7M | $22.7M |
毛利率TYLWD
| Q1 26 | 48.3% | — | ||
| Q4 25 | 45.5% | — | ||
| Q3 25 | 47.2% | — | ||
| Q2 25 | 45.8% | — | ||
| Q1 25 | 47.3% | — | ||
| Q4 24 | 43.8% | — | ||
| Q3 24 | 43.7% | — | ||
| Q2 24 | 44.0% | — |
营业利润率TYLWD
| Q1 26 | 16.3% | — | ||
| Q4 25 | 13.0% | -17.2% | ||
| Q3 25 | 16.4% | 13.6% | ||
| Q2 25 | 16.0% | 14.5% | ||
| Q1 25 | 15.8% | 2.2% | ||
| Q4 24 | 13.2% | 15.3% | ||
| Q3 24 | 15.2% | 12.8% | ||
| Q2 24 | 14.4% | 10.4% |
净利率TYLWD
| Q1 26 | 13.2% | — | ||
| Q4 25 | 11.4% | -12.9% | ||
| Q3 25 | 14.2% | 9.9% | ||
| Q2 25 | 14.2% | 10.6% | ||
| Q1 25 | 14.3% | 1.2% | ||
| Q4 24 | 12.1% | 13.1% | ||
| Q3 24 | 14.0% | 9.9% | ||
| Q2 24 | 12.5% | 8.4% |
每股收益（稀释后）TYLWD
| Q1 26 | $1.88 | — | ||
| Q4 25 | $1.50 | $-0.41 | ||
| Q3 25 | $1.93 | $0.98 | ||
| Q2 25 | $1.93 | $0.99 | ||
| Q1 25 | $1.84 | $0.08 | ||
| Q4 24 | $1.48 | $1.32 | ||
| Q3 24 | $1.74 | $0.85 | ||
| Q2 24 | $1.57 | $0.67 |
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 | $346.4M | $299.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.6B | $1.7B |
| 总资产 | $4.8B | $5.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资TYLWD
| Q1 26 | $346.4M | — | ||
| Q4 25 | $1.1B | $299.3M | ||
| Q3 25 | $950.8M | $274.8M | ||
| Q2 25 | $892.3M | $233.7M | ||
| Q1 25 | $807.4M | $181.0M | ||
| Q4 24 | $768.0M | $279.3M | ||
| Q3 24 | $544.3M | $179.8M | ||
| Q2 24 | $258.0M | $208.1M |
总债务TYLWD
| Q1 26 | — | — | ||
| 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 | — |
股东权益TYLWD
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.7B | $1.7B | ||
| Q3 25 | $3.6B | $1.8B | ||
| Q2 25 | $3.6B | $1.8B | ||
| Q1 25 | $3.5B | $1.7B | ||
| Q4 24 | $3.4B | $1.7B | ||
| Q3 24 | $3.3B | $1.7B | ||
| Q2 24 | $3.1B | $1.7B |
总资产TYLWD
| Q1 26 | $4.8B | — | ||
| Q4 25 | $5.6B | $5.1B | ||
| Q3 25 | $5.5B | $5.8B | ||
| Q2 25 | $5.4B | $4.7B | ||
| Q1 25 | $5.2B | $4.5B | ||
| Q4 24 | $5.2B | $4.4B | ||
| Q3 24 | $5.0B | $4.6B | ||
| Q2 24 | $4.8B | $4.2B |
负债/权益比TYLWD
| Q1 26 | — | — | ||
| 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× | — |
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 | $107.3M | $-664.3M |
| 自由现金流经营现金流 - 资本支出 | $2.0M | $-680.1M |
| 自由现金流率自由现金流/营收 | 0.3% | -200.0% |
| 资本支出强度资本支出/营收 | — | 4.6% |
| 现金转化率经营现金流/净利润 | 1.32× | — |
| 过去12个月自由现金流最近4个季度 | $585.7M | $-2.2B |
8季度趋势，按日历期对齐
经营现金流TYLWD
| Q1 26 | $107.3M | — | ||
| Q4 25 | $243.9M | $-664.3M | ||
| Q3 25 | $255.2M | $-948.1M | ||
| Q2 25 | $98.3M | $-238.5M | ||
| Q1 25 | $56.2M | $-281.1M | ||
| Q4 24 | $224.8M | $129.4M | ||
| Q3 24 | $263.7M | $-202.0M | ||
| Q2 24 | $64.3M | $-237.8M |
自由现金流TYLWD
| Q1 26 | $2.0M | — | ||
| Q4 25 | $239.6M | $-680.1M | ||
| Q3 25 | $251.3M | $-950.4M | ||
| Q2 25 | $92.8M | $-241.0M | ||
| Q1 25 | $53.8M | $-284.7M | ||
| Q4 24 | $221.0M | $116.4M | ||
| Q3 24 | $260.8M | $-204.0M | ||
| Q2 24 | $57.7M | $-241.7M |
自由现金流率TYLWD
| Q1 26 | 0.3% | — | ||
| Q4 25 | 41.7% | -200.0% | ||
| Q3 25 | 42.2% | -281.5% | ||
| Q2 25 | 15.6% | -75.5% | ||
| Q1 25 | 9.5% | -120.0% | ||
| Q4 24 | 40.8% | 34.1% | ||
| Q3 24 | 48.0% | -69.8% | ||
| Q2 24 | 10.7% | -89.3% |
资本支出强度TYLWD
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 4.6% | ||
| Q3 25 | 0.7% | 0.7% | ||
| Q2 25 | 0.9% | 0.8% | ||
| Q1 25 | 0.4% | 1.5% | ||
| Q4 24 | 0.7% | 3.8% | ||
| Q3 24 | 0.5% | 0.7% | ||
| Q2 24 | 1.2% | 1.4% |
现金转化率TYLWD
| Q1 26 | 1.32× | — | ||
| Q4 25 | 3.72× | — | ||
| Q3 25 | 3.02× | -28.34× | ||
| Q2 25 | 1.16× | -7.02× | ||
| Q1 25 | 0.69× | -102.07× | ||
| Q4 24 | 3.45× | 2.89× | ||
| Q3 24 | 3.47× | -7.01× | ||
| Q2 24 | 0.95× | -10.49× |
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
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
WD
暂无分部数据
