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Side-by-side financial comparison of Andersons, Inc. (ANDE) and APPFOLIO INC (APPF). Click either name above to swap in a different company.
Andersons, Inc. is the larger business by last-quarter revenue ($329.5M vs $262.2M, roughly 1.3× APPFOLIO INC). Andersons, Inc. runs the higher net margin — 20.5% vs 16.2%, a 4.3% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs -2.4%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs -1.8%).
The Andersons, Inc. is an American agribusiness established in 1947, that began as Andersons Truck Terminal (ATT) in the 1940s for the grain industry, headquartered in Maumee, Ohio. It is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and plant nutrient sectors.
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
ANDE vs APPF — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $329.5M | $262.2M |
| Net Profit | $67.4M | $42.4M |
| Gross Margin | 70.3% | — |
| Operating Margin | 26.6% | 19.4% |
| Net Margin | 20.5% | 16.2% |
| Revenue YoY | -2.4% | 20.4% |
| Net Profit YoY | 49.6% | 35.2% |
| EPS (diluted) | — | $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 | $329.5M | $248.2M | ||
| Q3 25 | $295.8M | $249.4M | ||
| Q2 25 | $535.0M | $235.6M | ||
| Q1 25 | $370.8M | $217.7M | ||
| Q4 24 | $337.5M | $203.7M | ||
| Q3 24 | $231.9M | $205.7M | ||
| Q2 24 | $492.5M | $197.4M |
| Q1 26 | — | $42.4M | ||
| Q4 25 | $67.4M | $39.9M | ||
| Q3 25 | $20.1M | $33.6M | ||
| Q2 25 | $7.9M | $36.0M | ||
| Q1 25 | $284.0K | $31.4M | ||
| Q4 24 | $45.1M | $102.7M | ||
| Q3 24 | $27.4M | $33.0M | ||
| Q2 24 | $36.0M | $29.7M |
| Q1 26 | — | — | ||
| Q4 25 | 70.3% | — | ||
| Q3 25 | 57.8% | — | ||
| Q2 25 | 29.6% | — | ||
| Q1 25 | 41.2% | — | ||
| Q4 24 | 63.1% | — | ||
| Q3 24 | 76.4% | — | ||
| Q2 24 | 35.6% | — |
| Q1 26 | — | 19.4% | ||
| Q4 25 | 26.6% | 17.6% | ||
| Q3 25 | 8.7% | 14.1% | ||
| Q2 25 | 4.6% | 17.2% | ||
| Q1 25 | 0.9% | 15.5% | ||
| Q4 24 | 19.9% | 11.3% | ||
| Q3 24 | 26.8% | 20.7% | ||
| Q2 24 | 11.6% | 18.3% |
| Q1 26 | — | 16.2% | ||
| Q4 25 | 20.5% | 16.1% | ||
| Q3 25 | 6.8% | 13.5% | ||
| Q2 25 | 1.5% | 15.3% | ||
| Q1 25 | 0.1% | 14.4% | ||
| Q4 24 | 13.4% | 50.4% | ||
| Q3 24 | 11.8% | 16.0% | ||
| Q2 24 | 7.3% | 15.0% |
| Q1 26 | — | $1.18 | ||
| Q4 25 | — | $1.10 | ||
| Q3 25 | $0.59 | $0.93 | ||
| Q2 25 | $0.23 | $0.99 | ||
| Q1 25 | $0.01 | $0.86 | ||
| Q4 24 | $1.31 | $2.79 | ||
| Q3 24 | $0.80 | $0.90 | ||
| Q2 24 | $1.05 | $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 | $98.3M | $147.4M |
| Total DebtLower is stronger | $560.0M | — |
| Stockholders' EquityBook value | $1.2B | $470.2M |
| Total Assets | $3.7B | $580.6M |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $147.4M | ||
| Q4 25 | $98.3M | $107.0M | ||
| Q3 25 | — | $76.1M | ||
| Q2 25 | — | $73.5M | ||
| Q1 25 | — | $56.9M | ||
| Q4 24 | $561.8M | $42.5M | ||
| Q3 24 | — | $62.4M | ||
| Q2 24 | — | $59.6M |
| Q1 26 | — | — | ||
| Q4 25 | $560.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $608.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $470.2M | ||
| Q4 25 | $1.2B | $542.6M | ||
| Q3 25 | $1.2B | $498.9M | ||
| Q2 25 | $1.4B | $455.6M | ||
| Q1 25 | $1.4B | $462.1M | ||
| Q4 24 | $1.4B | $519.3M | ||
| Q3 24 | $1.3B | $412.8M | ||
| Q2 24 | $1.3B | $371.4M |
| Q1 26 | — | $580.6M | ||
| Q4 25 | $3.7B | $689.0M | ||
| Q3 25 | $3.3B | $640.5M | ||
| Q2 25 | $3.4B | $567.4M | ||
| Q1 25 | $3.8B | $564.7M | ||
| Q4 24 | $4.1B | $626.7M | ||
| Q3 24 | $3.4B | $523.3M | ||
| Q2 24 | $3.3B | $479.3M |
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-6.2M | $34.3M |
| Free Cash FlowOCF − Capex | $-77.1M | — |
| FCF MarginFCF / Revenue | -23.4% | — |
| Capex IntensityCapex / Revenue | 21.5% | — |
| Cash ConversionOCF / Net Profit | -0.09× | 0.81× |
| TTM Free Cash FlowTrailing 4 quarters | $-56.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $34.3M | ||
| Q4 25 | $-6.2M | $65.0M | ||
| Q3 25 | $233.9M | $86.0M | ||
| Q2 25 | $299.3M | $52.6M | ||
| Q1 25 | $-350.0M | $38.5M | ||
| Q4 24 | $268.8M | $36.6M | ||
| Q3 24 | $-2.1M | $57.8M | ||
| Q2 24 | $304.4M | $50.9M |
| Q1 26 | — | — | ||
| Q4 25 | $-77.1M | $63.7M | ||
| Q3 25 | $167.0M | $84.7M | ||
| Q2 25 | $250.5M | $52.4M | ||
| Q1 25 | $-396.6M | $38.2M | ||
| Q4 24 | $212.9M | $36.4M | ||
| Q3 24 | $-40.0M | $57.4M | ||
| Q2 24 | $275.8M | $50.8M |
| Q1 26 | — | — | ||
| Q4 25 | -23.4% | 25.7% | ||
| Q3 25 | 56.5% | 34.0% | ||
| Q2 25 | 46.8% | 22.2% | ||
| Q1 25 | -106.9% | 17.6% | ||
| Q4 24 | 63.1% | 17.9% | ||
| Q3 24 | -17.2% | 27.9% | ||
| Q2 24 | 56.0% | 25.8% |
| Q1 26 | — | — | ||
| Q4 25 | 21.5% | 0.5% | ||
| Q3 25 | 22.6% | 0.5% | ||
| Q2 25 | 9.1% | 0.1% | ||
| Q1 25 | 12.6% | 0.1% | ||
| Q4 24 | 16.6% | 0.1% | ||
| Q3 24 | 16.3% | 0.2% | ||
| Q2 24 | 5.8% | 0.0% |
| Q1 26 | — | 0.81× | ||
| Q4 25 | -0.09× | 1.63× | ||
| Q3 25 | 11.61× | 2.56× | ||
| Q2 25 | 38.10× | 1.46× | ||
| Q1 25 | -1232.46× | 1.23× | ||
| Q4 24 | 5.96× | 0.36× | ||
| Q3 24 | -0.08× | 1.75× | ||
| Q2 24 | 8.46× | 1.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANDE
| Specialty And Primary Nutrients | $137.1M | 42% |
| Premium Ingredients | $66.1M | 20% |
| Segment Reporting Reconciling Item Other | $63.2M | 19% |
| Other | $63.1M | 19% |
APPF
| Value Added Services | $201.4M | 77% |
| Subscription Services | $58.2M | 22% |
