VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Friday, January 2, 2026

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Stock Comparison

Constellation Software Inc. vs Tyler Technologies, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Constellation Software Inc.

CSU · Toronto Stock Exchange

Market cap (USD)—

Gross margin (TTM)—

Operating margin (TTM)—

Net margin (TTM)—

SectorTechnology

Industry—

CountryCA

Data as of2026-01-02

Moat score

74/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Constellation Software Inc.'s moat claims, evidence, and risks.

View CSU analysis

Tyler Technologies, Inc.

TYL · New York Stock Exchange

Market cap (USD)$18.9B

Gross margin (TTM)44.2%

Operating margin (TTM)15.4%

Net margin (TTM)13.7%

SectorTechnology

IndustrySoftware - Application

CountryUS

Data as of2025-12-26

Moat score

66/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Tyler Technologies, Inc.'s moat claims, evidence, and risks.

View TYL analysis

Comparison highlights

Moat score gap: Constellation Software Inc. leads (74 / 100 vs 66 / 100 for Tyler Technologies, Inc.).
Segment focus: Constellation Software Inc. has 6 segments; Tyler Technologies, Inc. has 2 segments (70.7% in Enterprise Software).
Moat breadth: Constellation Software Inc. has 3 moat types across 2 domains; Tyler Technologies, Inc. has 7 across 2.

Primary market context

Constellation Software Inc.

Volaris Operating Group

Market

Vertical market software (VMS) portfolios across diverse industries (Volaris)

Geography

Global (North America, Continental Europe, UK, Australia, South America, Africa)

Customer

Organizations in specific verticals (mix of public and private sector)

Role

Vertical market software vendor (application provider + long-term maintainer)

Tyler Technologies, Inc.

Enterprise Software

Market

Public sector enterprise application software for mission-critical back-office functions (ERP/public administration, courts & justice, public safety, education, property & recording)

Geography

Primarily United States; also Canada and other international locations

Customer

Government agencies and other public entities (state/local/federal), school districts

Role

Vertical software vendor + implementation/services

Revenue share

70.7%

Side-by-side metrics

Constellation Software Inc.

Tyler Technologies, Inc.

Ticker / Exchange

CSU - Toronto Stock Exchange

TYL - New York Stock Exchange

Market cap (USD)

n/a

$18.9B

Gross margin (TTM)

n/a

44.2%

Operating margin (TTM)

n/a

15.4%

Net margin (TTM)

n/a

13.7%

Sector

Technology

Industry

n/a

Software - Application

HQ country

Primary segment

Volaris Operating Group

Enterprise Software

Market structure

Competitive

Market share

n/a

5%-7% (reported)

HHI estimate

n/a

Pricing power

Moderate

Moat score

74 / 100

66 / 100

Moat domains

Demand, Supply

Last update

2026-01-02

2025-12-26

Moat coverage

Shared moat types

No overlap yet.

Constellation Software Inc. strengths

Switching Costs GeneralInstalled Base ConsumablesOperational Excellence

Tyler Technologies, Inc. strengths

Training Org Change CostsProcurement InertiaSuite BundlingLong Term ContractsData Workflow LockinScale Economies Unit CostBrand Trust

Segment mix

Constellation Software Inc. segments

Full profile >

Volaris Operating Group

Competitive

n/a

Harris Operating Group

Competitive

n/a

Topicus.com Operating Group

Competitive

n/a

Jonas Operating Group

Competitive

n/a

Perseus Operating Group

Competitive

n/a

Vela Operating Group

Competitive

n/a

Tyler Technologies, Inc. segments

Full profile >

Enterprise Software

Competitive

70.7%

Platform Technologies

Competitive

29%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.