How this BSY vs TYL comparison is calculated

All metrics are based on trailing twelve months (TTM) financial data, consensus analyst estimates, and standardized valuation ratios. Data is sourced from Financial Modeling Prep and SEC EDGAR. Figures are normalized to ensure a fair comparison between Bentley Systems, Incorporated and Tyler Technologies, Inc.. Analyst price targets and ratings are aggregated from Wall Street consensus as of 2026-05-14.

Quick verdict: Bentley Systems, Incorporated vs Tyler Technologies, Inc. in 2026

Bentley Systems, Incorporated (BSY) demonstrates a compelling lead in revenue expansion and maintains superior profit margins compared to Tyler Technologies, Inc. (TYL). BSY also presents a more attractive earnings multiple and a slightly higher discounted cash flow upside, suggesting a potential fundamental discount, while Tyler Technologies, Inc. enjoys stronger analyst conviction. For investors prioritizing growth and value, Bentley Systems, Incorporated appears to hold an edge, whereas TYL garners greater Wall Street endorsement. Not investment advice.

Bentley Systems, Incorporated vs Tyler Technologies, Inc.: key metrics side by side

A full side-by-side look at Bentley Systems, Incorporated (BSY) and Tyler Technologies, Inc. (TYL) across earnings multiples, profitability, revenue momentum, and analyst sentiment — data updated 2026-05-14.

Relative valuation: BSY vs TYL

When assessing the relative valuation between Bentley Systems, Incorporated and Tyler Technologies, Inc., several key multiples come into focus. BSY currently trades at an earnings multiple of 34.66x, which appears more appealing than TYL’s price-to-earnings ratio of 40.41x, indicating that Bentley Systems, Incorporated stock is priced at a lower multiple of its profits. This fundamental discount in earnings might attract investors seeking growth at a more reasonable price point, based on current consensus data.
However, a deeper dive reveals nuances. While Bentley Systems, Incorporated boasts a more favorable P/E ratio, Tyler Technologies, Inc. presents a significantly lower price-to-book (P/B) ratio of 3.59x compared to BSY’s 7.97x. This suggests that TYL’s assets are valued more conservatively by the market relative to its share price. Despite this, when considering intrinsic value, BSY’s discounted cash flow (DCF) model indicates a potential upside of +33.1%, slightly outpacing Tyler Technologies, Inc.’s DCF upside of +31.3%. This implies that, from a cash flow perspective, Bentley Systems, Incorporated might offer a greater margin of safety or unrecognized value.

Revenue momentum: Bentley Systems, Incorporated vs Tyler Technologies, Inc.

Examining the topline expansion, Bentley Systems, Incorporated exhibits a stronger growth trajectory with a year-over-year revenue increase of 11.0%. This figure is notably higher than Tyler Technologies, Inc.’s revenue growth of 9.1%, positioning BSY as the leader in terms of current sales momentum. For investors prioritizing companies with robust and accelerating market penetration, Bentley Systems, Incorporated’s expansion rate could be a more compelling factor.
Further illustrating its operational efficiency and growth quality, BSY also demonstrates a superior EBITDA margin of 31.3%, significantly exceeding TYL’s EBITDA margin of 21.52%. This wide divergence suggests that Bentley Systems, Incorporated is more adept at converting its revenue into core operating profit, indicating stronger control over its cost structure or more lucrative product offerings. While past performance does not guarantee future results, this gap in operational profitability and topline expansion may not persist indefinitely, depending on market shifts and strategic initiatives, but currently favors Bentley Systems, Incorporated stock.

Profitability and cash generation: BSY vs TYL

In terms of pure profitability, Bentley Systems, Incorporated clearly outpaces Tyler Technologies, Inc.. BSY recorded a net margin of 18.12%, showcasing a more efficient conversion of revenue into net income. This compares favorably against TYL’s net margin of 13.26%. This higher net profitability indicates that Bentley Systems, Incorporated retains a greater portion of its sales as profit for shareholders, demonstrating stronger financial health and effective cost management.
Regarding cash conversion and shareholder returns, neither company currently reports a Return on Equity (ROE) figure. However, a look at free cash flow generation shows that Tyler Technologies, Inc. holds a slight edge with a FCF yield of 5.46%, marginally higher than Bentley Systems, Incorporated’s 5.38%. This suggests that TYL generates slightly more cash relative to its market capitalization. Additionally, Tyler Technologies, Inc. maintains a remarkably lean balance sheet with a debt-to-equity ratio of just 0.01x, far superior to BSY’s 0.95x, highlighting TYL’s minimal reliance on external financing and robust financial stability.

Wall Street view: Bentley Systems, Incorporated vs Tyler Technologies, Inc. analyst ratings

Wall Street analysts appear to hold a favorable view of both Bentley Systems, Incorporated and Tyler Technologies, Inc., though with differing levels of conviction. For Bentley Systems, Incorporated, a consensus of 12 analysts currently rates BSY with a ‘Buy’ recommendation, representing 58.3% of total coverage. Their aggregated price target stands at $47.57, suggesting a substantial upside potential of +52.2% from its current trading price.
Tyler Technologies, Inc., on the other hand, garners even stronger support from the analyst community. A larger group of 37 analysts cover TYL, with a higher percentage – 67.6% – issuing ‘Buy’ ratings. The collective price target for Tyler Technologies, Inc. is set at $453.45, implying an upside of +51.9%. While the implied price appreciation is very similar for both, TYL benefits from a broader analyst following and a higher proportion of ‘Buy’ ratings, suggesting a slightly greater consensus of optimism for the stock’s future performance. It is important to remember that these targets may vary depending on future estimate revisions and market conditions.

Which investor profile fits BSY vs TYL?

For a growth-oriented investor, Bentley Systems, Incorporated appears to present a more compelling narrative based on current metrics. BSY exhibits a stronger revenue momentum with 11.0% year-over-year growth, outperforming Tyler Technologies, Inc.’s 9.1% topline expansion. Furthermore, Bentley Systems, Incorporated demonstrates superior operational efficiency, indicated by its higher EBITDA margin of 31.3% compared to TYL’s 21.52%. These factors suggest that BSY currently possesses a more robust growth trajectory and profitability profile that could be attractive to those seeking companies with strong expansion potential.

Value investors, scrutinizing earnings multiples and intrinsic value, might find aspects of both companies appealing, but Bentley Systems, Incorporated holds an edge in some key areas. BSY trades at a P/E ratio of 34.66x, which is a more attractive earnings multiple than Tyler Technologies, Inc.’s 40.41x, indicating a more reasonable price relative to current profits. Moreover, Bentley Systems, Incorporated’s discounted cash flow analysis points to a slightly higher upside of +33.1% compared to TYL’s +31.3%. However, Tyler Technologies, Inc. does offer a lower price-to-book ratio of 3.59x versus BSY’s 7.97x, which might appeal to value investors prioritizing asset-based valuation.

Income-focused investors will likely find neither Bentley Systems, Incorporated nor Tyler Technologies, Inc. to be a primary fit for their portfolios. BSY offers a nominal dividend yield of 0.01%, while TYL currently provides no dividend yield at all. Both companies prioritize reinvesting earnings back into their operations for growth rather than distributing significant capital to shareholders through dividends. Therefore, investors seeking consistent and substantial dividend income should look elsewhere, as these technology firms are primarily growth plays. This is not investment advice. Always do your own research.

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