VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Transurban Group vs Tyler Technologies, Inc.

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

Transurban Group

TCL · Australian Securities Exchange

Market cap (USD)$42.6B
Gross margin (TTM)43.4%
Operating margin (TTM)39.4%
Net margin (TTM)5.8%
SectorIndustrials
IndustryIndustrial - Infrastructure Operations
CountryAU
Data as of2026-01-04
Moat score
91/ 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 Transurban Group's moat claims, evidence, and risks.

View TCL analysis

Tyler Technologies, Inc.

TYL · New York Stock Exchange

Market cap (USD)$19B
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: Transurban Group leads (91 / 100 vs 66 / 100 for Tyler Technologies, Inc.).
  • Segment focus: Transurban Group has 4 segments (49.5% in Sydney toll roads); Tyler Technologies, Inc. has 2 segments (70.7% in Enterprise Software).
  • Primary market structure: Quasi-Monopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: Transurban Group has 3 moat types across 3 domains; Tyler Technologies, Inc. has 7 across 2.

Primary market context

Transurban Group

Sydney toll roads

Market

Urban toll-road concessions (Sydney)

Geography

Sydney, New South Wales, Australia

Customer

Motorists and commercial fleet operators

Role

Concessionaire / operator and developer

Revenue share

49.5%

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

Transurban Group
Tyler Technologies, Inc.
Ticker / Exchange
TCL - Australian Securities Exchange
TYL - New York Stock Exchange
Market cap (USD)
$42.6B
$19B
Gross margin (TTM)
43.4%
44.2%
Operating margin (TTM)
39.4%
15.4%
Net margin (TTM)
5.8%
13.7%
Sector
Industrials
Technology
Industry
Industrial - Infrastructure Operations
Software - Application
HQ country
AU
US
Primary segment
Sydney toll roads
Enterprise Software
Market structure
Quasi-Monopoly
Competitive
Market share
n/a
5%-7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
91 / 100
66 / 100
Moat domains
Legal, Financial, Demand
Demand, Supply
Last update
2026-01-04
2025-12-26

Moat coverage

Shared moat types

No overlap yet.

Transurban Group strengths

Concession LicenseBenchmark Pricing PowerDynamic congestion pricing

Tyler Technologies, Inc. strengths

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

Segment mix

Transurban Group segments

Full profile >

Sydney toll roads

Quasi-Monopoly

49.5%

Melbourne toll roads

Quasi-Monopoly

26.5%

Brisbane toll roads

Quasi-Monopoly

16%

North America managed lanes and concessions

Quasi-Monopoly

8.1%

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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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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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.