VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Tyler Technologies, Inc. vs Workday, Inc.

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

Tyler Technologies, Inc.

TYL · New York Stock Exchange

Market cap (USD)$13.6B
Gross margin (TTM)44.7%
Operating margin (TTM)15.3%
Net margin (TTM)13.5%
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

Workday, Inc.

WDAY · NASDAQ

Market cap (USD)$36.8B
Gross margin (TTM)75.6%
Operating margin (TTM)6.7%
Net margin (TTM)7%
SectorTechnology
IndustrySoftware - Application
CountryUS
Data as of2025-12-23
Moat score
71/ 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 Workday, Inc.'s moat claims, evidence, and risks.

View WDAY analysis

Comparison highlights

  • Moat score gap: Workday, Inc. leads (71 / 100 vs 66 / 100 for Tyler Technologies, Inc.).
  • Segment focus: Tyler Technologies, Inc. has 2 segments (70.7% in Enterprise Software); Workday, Inc. has 2 segments (91.4% in Subscription services (Workday cloud applications + platform)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Tyler Technologies, Inc. has 7 moat types across 2 domains; Workday, Inc. has 5 across 2.

Primary market context

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%

Workday, Inc.

Subscription services (Workday cloud applications + platform)

Market

Enterprise cloud applications for managing people and money (HCM, financial management, spend, planning & analytics)

Geography

Global

Customer

Medium to large organizations (including higher education and government)

Role

SaaS application vendor and extensible platform provider

Revenue share

91.4%

Side-by-side metrics

Tyler Technologies, Inc.
Workday, Inc.
Ticker / Exchange
TYL - New York Stock Exchange
WDAY - NASDAQ
Market cap (USD)
$13.6B
$36.8B
Gross margin (TTM)
44.7%
75.6%
Operating margin (TTM)
15.3%
6.7%
Net margin (TTM)
13.5%
7%
Sector
Technology
Technology
Industry
Software - Application
Software - Application
HQ country
US
US
Primary segment
Enterprise Software
Subscription services (Workday cloud applications + platform)
Market structure
Competitive
Oligopoly
Market share
5%-7% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
66 / 100
71 / 100
Moat domains
Demand, Supply
Demand, Network
Last update
2025-12-26
2025-12-23

Moat coverage

Shared moat types

Training Org Change CostsSuite BundlingData Workflow Lockin

Tyler Technologies, Inc. strengths

Procurement InertiaLong Term ContractsScale Economies Unit CostBrand Trust

Workday, Inc. strengths

Ecosystem ComplementsWorkday implementation expertise

Segment mix

Tyler Technologies, Inc. segments

Full profile >

Enterprise Software

Competitive

70.7%

Platform Technologies

Competitive

29%

Workday, Inc. segments

Full profile >

Subscription services (Workday cloud applications + platform)

Oligopoly

91.4%

Professional services (deployment, optimization, training)

Competitive

8.6%

Want the full wide moat stocks list?

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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.