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Tyler Technologies（TYL）与Worthington Steel, Inc.（WS）财务数据对比。点击上方公司名可切换其他公司
Worthington Steel, Inc.的季度营收约是Tyler Technologies的1.4倍（$871.9M vs $613.5M），Tyler Technologies净利率更高（13.2% vs 2.2%，领先11.1%），Worthington Steel, Inc.同比增速更快（18.0% vs 8.6%），Worthington Steel, Inc.自由现金流更多（$74.6M vs $2.0M），过去两年Tyler Technologies的营收复合增速更高（6.5% vs 3.9%）
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。
沃辛顿钢铁是总部位于美国俄亥俄州哥伦布市的工业制造企业，下设消费品和建筑建材两大业务板块，主营各类压力容器的设计与生产，覆盖丙烷、氧气、氦气储罐，制冷剂及工业气瓶，露营与民用气瓶，以及用于存储、处理、加热、扩容和流量控制的供水系统罐体等产品。
TYL vs WS — 直观对比
营收规模更大
WS
是对方的1.4倍
$613.5M
营收增速更快
WS
高出9.4%
8.6%
净利率更高
TYL
高出11.1%
2.2%
自由现金流更多
WS
多$72.6M
$2.0M
两年增速更快
TYL
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $613.5M | $871.9M |
| 净利润 | $81.2M | $18.8M |
| 毛利率 | 48.3% | 10.7% |
| 营业利润率 | 16.3% | 2.5% |
| 净利率 | 13.2% | 2.2% |
| 营收同比 | 8.6% | 18.0% |
| 净利润同比 | — | 46.9% |
| 每股收益（稀释后） | $1.88 | $0.37 |
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TYLWS
| Q1 26 | $613.5M | — | ||
| Q4 25 | $575.2M | $871.9M | ||
| Q3 25 | $595.9M | $872.9M | ||
| Q2 25 | $596.1M | $832.9M | ||
| Q1 25 | $565.2M | $687.4M | ||
| Q4 24 | $541.1M | $739.0M | ||
| Q3 24 | $543.3M | $834.0M | ||
| Q2 24 | $541.0M | — |
净利润TYLWS
| Q1 26 | $81.2M | — | ||
| Q4 25 | $65.5M | $18.8M | ||
| Q3 25 | $84.4M | $36.8M | ||
| Q2 25 | $84.6M | $55.7M | ||
| Q1 25 | $81.1M | $13.8M | ||
| Q4 24 | $65.2M | $12.8M | ||
| Q3 24 | $75.9M | $28.4M | ||
| Q2 24 | $67.7M | — |
毛利率TYLWS
| Q1 26 | 48.3% | — | ||
| Q4 25 | 45.5% | 10.7% | ||
| Q3 25 | 47.2% | 13.2% | ||
| Q2 25 | 45.8% | 15.2% | ||
| Q1 25 | 47.3% | 11.8% | ||
| Q4 24 | 43.8% | 10.8% | ||
| Q3 24 | 43.7% | 12.0% | ||
| Q2 24 | 44.0% | — |
营业利润率TYLWS
| Q1 26 | 16.3% | — | ||
| Q4 25 | 13.0% | 2.5% | ||
| Q3 25 | 16.4% | 5.5% | ||
| Q2 25 | 16.0% | 8.0% | ||
| Q1 25 | 15.8% | 2.7% | ||
| Q4 24 | 13.2% | 2.6% | ||
| Q3 24 | 15.2% | 5.2% | ||
| Q2 24 | 14.4% | — |
净利率TYLWS
| Q1 26 | 13.2% | — | ||
| Q4 25 | 11.4% | 2.2% | ||
| Q3 25 | 14.2% | 4.2% | ||
| Q2 25 | 14.2% | 6.7% | ||
| Q1 25 | 14.3% | 2.0% | ||
| Q4 24 | 12.1% | 1.7% | ||
| Q3 24 | 14.0% | 3.4% | ||
| Q2 24 | 12.5% | — |
每股收益（稀释后）TYLWS
| Q1 26 | $1.88 | — | ||
| Q4 25 | $1.50 | $0.37 | ||
| Q3 25 | $1.93 | $0.72 | ||
| Q2 25 | $1.93 | $1.11 | ||
| Q1 25 | $1.84 | $0.27 | ||
| Q4 24 | $1.48 | $0.25 | ||
| Q3 24 | $1.74 | $0.56 | ||
| Q2 24 | $1.57 | — |
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 | $89.8M |
| 总债务越低越好 | — | $72.1M |
| 股东权益账面价值 | $3.6B | $1.1B |
| 总资产 | $4.8B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资TYLWS
| Q1 26 | $346.4M | — | ||
| Q4 25 | $1.1B | $89.8M | ||
| Q3 25 | $950.8M | $78.3M | ||
| Q2 25 | $892.3M | $38.0M | ||
| Q1 25 | $807.4M | $63.3M | ||
| Q4 24 | $768.0M | $52.0M | ||
| Q3 24 | $544.3M | $36.0M | ||
| Q2 24 | $258.0M | — |
总债务TYLWS
| Q1 26 | — | — | ||
| Q4 25 | $599.7M | $72.1M | ||
| Q3 25 | $599.2M | $73.4M | ||
| Q2 25 | $598.8M | $151.5M | ||
| Q1 25 | $598.4M | — | ||
| Q4 24 | $597.9M | $115.0M | ||
| Q3 24 | $597.5M | $122.2M | ||
| Q2 24 | $597.1M | — |
股东权益TYLWS
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.7B | $1.1B | ||
| Q3 25 | $3.6B | $1.1B | ||
| Q2 25 | $3.6B | $1.1B | ||
| Q1 25 | $3.5B | $1.0B | ||
| Q4 24 | $3.4B | $1.0B | ||
| Q3 24 | $3.3B | $1.0B | ||
| Q2 24 | $3.1B | — |
总资产TYLWS
| Q1 26 | $4.8B | — | ||
| Q4 25 | $5.6B | $2.1B | ||
| Q3 25 | $5.5B | $2.2B | ||
| Q2 25 | $5.4B | $2.0B | ||
| Q1 25 | $5.2B | $1.8B | ||
| Q4 24 | $5.2B | $1.7B | ||
| Q3 24 | $5.0B | $1.8B | ||
| Q2 24 | $4.8B | — |
负债/权益比TYLWS
| Q1 26 | — | — | ||
| Q4 25 | 0.16× | 0.06× | ||
| Q3 25 | 0.17× | 0.07× | ||
| Q2 25 | 0.16× | 0.14× | ||
| Q1 25 | 0.17× | — | ||
| Q4 24 | 0.18× | 0.11× | ||
| Q3 24 | 0.18× | 0.12× | ||
| 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 | $99.3M |
| 自由现金流经营现金流 - 资本支出 | $2.0M | $74.6M |
| 自由现金流率自由现金流/营收 | 0.3% | 8.6% |
| 资本支出强度资本支出/营收 | — | 2.8% |
| 现金转化率经营现金流/净利润 | 1.32× | 5.28× |
| 过去12个月自由现金流最近4个季度 | $585.7M | $72.5M |
8季度趋势，按日历期对齐
经营现金流TYLWS
| Q1 26 | $107.3M | — | ||
| Q4 25 | $243.9M | $99.3M | ||
| Q3 25 | $255.2M | $-6.3M | ||
| Q2 25 | $98.3M | $53.9M | ||
| Q1 25 | $56.2M | $53.8M | ||
| Q4 24 | $224.8M | $68.0M | ||
| Q3 24 | $263.7M | $54.6M | ||
| Q2 24 | $64.3M | — |
自由现金流TYLWS
| Q1 26 | $2.0M | — | ||
| Q4 25 | $239.6M | $74.6M | ||
| Q3 25 | $251.3M | $-35.7M | ||
| Q2 25 | $92.8M | $8.4M | ||
| Q1 25 | $53.8M | $25.2M | ||
| Q4 24 | $221.0M | $33.2M | ||
| Q3 24 | $260.8M | $33.1M | ||
| Q2 24 | $57.7M | — |
自由现金流率TYLWS
| Q1 26 | 0.3% | — | ||
| Q4 25 | 41.7% | 8.6% | ||
| Q3 25 | 42.2% | -4.1% | ||
| Q2 25 | 15.6% | 1.0% | ||
| Q1 25 | 9.5% | 3.7% | ||
| Q4 24 | 40.8% | 4.5% | ||
| Q3 24 | 48.0% | 4.0% | ||
| Q2 24 | 10.7% | — |
资本支出强度TYLWS
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 2.8% | ||
| Q3 25 | 0.7% | 3.4% | ||
| Q2 25 | 0.9% | 5.5% | ||
| Q1 25 | 0.4% | 4.2% | ||
| Q4 24 | 0.7% | 4.7% | ||
| Q3 24 | 0.5% | 2.6% | ||
| Q2 24 | 1.2% | — |
现金转化率TYLWS
| Q1 26 | 1.32× | — | ||
| Q4 25 | 3.72× | 5.28× | ||
| Q3 25 | 3.02× | -0.17× | ||
| Q2 25 | 1.16× | 0.97× | ||
| Q1 25 | 0.69× | 3.90× | ||
| Q4 24 | 3.45× | 5.31× | ||
| Q3 24 | 3.47× | 1.92× | ||
| Q2 24 | 0.95× | — |
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% |
WS
| Direct | $844.1M | 97% |
| Toll | $27.8M | 3% |
