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Side-by-side financial comparison of Acadian Asset Management Inc. (AAMI) and APPFOLIO INC (APPF). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $172.2M, roughly 1.5× Acadian Asset Management Inc.). Acadian Asset Management Inc. runs the higher net margin — 20.2% vs 16.2%, a 4.0% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 2.6%). Over the past eight quarters, Acadian Asset Management Inc.'s revenue compounded faster (27.6% CAGR vs 15.3%).
United Asset Management was an American holding company headquartered in Boston, Massachusetts.
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
AAMI vs APPF — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $172.2M | $262.2M |
| Net Profit | $34.7M | $42.4M |
| Gross Margin | — | — |
| Operating Margin | 33.3% | 19.4% |
| Net Margin | 20.2% | 16.2% |
| Revenue YoY | 2.6% | 20.4% |
| Net Profit YoY | -18.4% | 35.2% |
| EPS (diluted) | $0.97 | $1.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $262.2M | ||
| Q4 25 | $172.2M | $248.2M | ||
| Q3 25 | $144.2M | $249.4M | ||
| Q2 25 | $127.4M | $235.6M | ||
| Q1 25 | $119.9M | $217.7M | ||
| Q4 24 | $167.8M | $203.7M | ||
| Q3 24 | $123.1M | $205.7M | ||
| Q2 24 | $109.0M | $197.4M |
| Q1 26 | — | $42.4M | ||
| Q4 25 | $34.7M | $39.9M | ||
| Q3 25 | $15.1M | $33.6M | ||
| Q2 25 | $10.1M | $36.0M | ||
| Q1 25 | $20.1M | $31.4M | ||
| Q4 24 | $42.5M | $102.7M | ||
| Q3 24 | $16.9M | $33.0M | ||
| Q2 24 | $11.0M | $29.7M |
| Q1 26 | — | 19.4% | ||
| Q4 25 | 33.3% | 17.6% | ||
| Q3 25 | 18.4% | 14.1% | ||
| Q2 25 | 12.7% | 17.2% | ||
| Q1 25 | 26.6% | 15.5% | ||
| Q4 24 | 38.7% | 11.3% | ||
| Q3 24 | 21.9% | 20.7% | ||
| Q2 24 | 18.9% | 18.3% |
| Q1 26 | — | 16.2% | ||
| Q4 25 | 20.2% | 16.1% | ||
| Q3 25 | 10.5% | 13.5% | ||
| Q2 25 | 7.9% | 15.3% | ||
| Q1 25 | 16.8% | 14.4% | ||
| Q4 24 | 25.3% | 50.4% | ||
| Q3 24 | 13.7% | 16.0% | ||
| Q2 24 | 10.1% | 15.0% |
| Q1 26 | — | $1.18 | ||
| Q4 25 | $0.97 | $1.10 | ||
| Q3 25 | $0.42 | $0.93 | ||
| Q2 25 | $0.28 | $0.99 | ||
| Q1 25 | $0.54 | $0.86 | ||
| Q4 24 | $1.11 | $2.79 | ||
| Q3 24 | $0.45 | $0.90 | ||
| Q2 24 | $0.29 | $0.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $147.4M |
| Total DebtLower is stronger | $200.0M | — |
| Stockholders' EquityBook value | — | $470.2M |
| Total Assets | $677.0M | $580.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $147.4M | ||
| Q4 25 | — | $107.0M | ||
| Q3 25 | — | $76.1M | ||
| Q2 25 | — | $73.5M | ||
| Q1 25 | — | $56.9M | ||
| Q4 24 | — | $42.5M | ||
| Q3 24 | — | $62.4M | ||
| Q2 24 | — | $59.6M |
| Q1 26 | — | — | ||
| Q4 25 | $200.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $275.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $470.2M | ||
| Q4 25 | — | $542.6M | ||
| Q3 25 | — | $498.9M | ||
| Q2 25 | — | $455.6M | ||
| Q1 25 | — | $462.1M | ||
| Q4 24 | — | $519.3M | ||
| Q3 24 | — | $412.8M | ||
| Q2 24 | — | $371.4M |
| Q1 26 | — | $580.6M | ||
| Q4 25 | $677.0M | $689.0M | ||
| Q3 25 | $751.4M | $640.5M | ||
| Q2 25 | $672.3M | $567.4M | ||
| Q1 25 | $677.3M | $564.7M | ||
| Q4 24 | $703.2M | $626.7M | ||
| Q3 24 | $555.2M | $523.3M | ||
| Q2 24 | $533.1M | $479.3M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.4M | $34.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -0.07× | 0.81× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $34.3M | ||
| Q4 25 | $-2.4M | $65.0M | ||
| Q3 25 | $-23.9M | $86.0M | ||
| Q2 25 | $61.6M | $52.6M | ||
| Q1 25 | $-48.8M | $38.5M | ||
| Q4 24 | $55.8M | $36.6M | ||
| Q3 24 | $69.6M | $57.8M | ||
| Q2 24 | $45.7M | $50.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $63.7M | ||
| Q3 25 | — | $84.7M | ||
| Q2 25 | — | $52.4M | ||
| Q1 25 | — | $38.2M | ||
| Q4 24 | — | $36.4M | ||
| Q3 24 | — | $57.4M | ||
| Q2 24 | — | $50.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 25.7% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 17.6% | ||
| Q4 24 | — | 17.9% | ||
| Q3 24 | — | 27.9% | ||
| Q2 24 | — | 25.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.0% |
| Q1 26 | — | 0.81× | ||
| Q4 25 | -0.07× | 1.63× | ||
| Q3 25 | -1.58× | 2.56× | ||
| Q2 25 | 6.10× | 1.46× | ||
| Q1 25 | -2.43× | 1.23× | ||
| Q4 24 | 1.31× | 0.36× | ||
| Q3 24 | 4.12× | 1.75× | ||
| Q2 24 | 4.15× | 1.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAMI
Segment breakdown not available.
APPF
| Value Added Services | $201.4M | 77% |
| Subscription Services | $58.2M | 22% |
