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Side-by-side financial comparison of APPFOLIO INC (APPF) and PATHWARD FINANCIAL, INC. (CASH). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $173.1M, roughly 1.5× PATHWARD FINANCIAL, INC.). PATHWARD FINANCIAL, INC. runs the higher net margin — 20.3% vs 16.2%, a 4.1% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs -0.2%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs -18.0%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
APPF vs CASH — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $173.1M |
| Net Profit | $42.4M | $35.2M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | 24.6% |
| Net Margin | 16.2% | 20.3% |
| Revenue YoY | 20.4% | -0.2% |
| Net Profit YoY | 35.2% | 11.9% |
| EPS (diluted) | $1.18 | $1.57 |
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 | $248.2M | $173.1M | ||
| Q3 25 | $249.4M | $186.7M | ||
| Q2 25 | $235.6M | $195.8M | ||
| Q1 25 | $217.7M | $274.8M | ||
| Q4 24 | $203.7M | $182.6M | ||
| Q3 24 | $205.7M | $179.5M | ||
| Q2 24 | $197.4M | $188.6M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $35.2M | ||
| Q3 25 | $33.6M | $38.8M | ||
| Q2 25 | $36.0M | $42.1M | ||
| Q1 25 | $31.4M | $75.0M | ||
| Q4 24 | $102.7M | $30.0M | ||
| Q3 24 | $33.0M | $33.5M | ||
| Q2 24 | $29.7M | $44.9M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 24.6% | ||
| Q3 25 | 14.1% | 25.9% | ||
| Q2 25 | 17.2% | 24.1% | ||
| Q1 25 | 15.5% | 33.2% | ||
| Q4 24 | 11.3% | 19.8% | ||
| Q3 24 | 20.7% | 20.9% | ||
| Q2 24 | 18.3% | 27.1% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 20.3% | ||
| Q3 25 | 13.5% | 20.8% | ||
| Q2 25 | 15.3% | 21.5% | ||
| Q1 25 | 14.4% | 27.3% | ||
| Q4 24 | 50.4% | 16.4% | ||
| Q3 24 | 16.0% | 18.7% | ||
| Q2 24 | 15.0% | 23.8% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $1.57 | ||
| Q3 25 | $0.93 | $1.69 | ||
| Q2 25 | $0.99 | $1.81 | ||
| Q1 25 | $0.86 | $3.14 | ||
| Q4 24 | $2.79 | $1.23 | ||
| Q3 24 | $0.90 | $1.34 | ||
| Q2 24 | $0.81 | $1.78 |
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 | $331.2M |
| Total DebtLower is stronger | — | $33.5M |
| Stockholders' EquityBook value | $470.2M | $854.5M |
| Total Assets | $580.6M | $7.6B |
| Debt / EquityLower = less leverage | — | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $331.2M | ||
| Q3 25 | $76.1M | $120.6M | ||
| Q2 25 | $73.5M | $258.3M | ||
| Q1 25 | $56.9M | $254.2M | ||
| Q4 24 | $42.5M | $597.4M | ||
| Q3 24 | $62.4M | $158.3M | ||
| Q2 24 | $59.6M | $298.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $33.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.4M | ||
| Q4 24 | — | $33.4M | ||
| Q3 24 | — | $33.4M | ||
| Q2 24 | — | $33.3M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $854.5M | ||
| Q3 25 | $498.9M | $858.0M | ||
| Q2 25 | $455.6M | $819.0M | ||
| Q1 25 | $462.1M | $814.7M | ||
| Q4 24 | $519.3M | $758.3M | ||
| Q3 24 | $412.8M | $822.5M | ||
| Q2 24 | $371.4M | $748.4M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $7.6B | ||
| Q3 25 | $640.5M | $7.2B | ||
| Q2 25 | $567.4M | $7.2B | ||
| Q1 25 | $564.7M | $7.0B | ||
| Q4 24 | $626.7M | $7.6B | ||
| Q3 24 | $523.3M | $7.5B | ||
| Q2 24 | $479.3M | $7.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.04× |
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 | $34.3M | $108.3M |
| Free Cash FlowOCF − Capex | — | $104.1M |
| FCF MarginFCF / Revenue | — | 60.1% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 0.81× | 3.08× |
| TTM Free Cash FlowTrailing 4 quarters | — | $616.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $108.3M | ||
| Q3 25 | $86.0M | $303.7M | ||
| Q2 25 | $52.6M | $30.4M | ||
| Q1 25 | $38.5M | $188.3M | ||
| Q4 24 | $36.6M | $-71.7M | ||
| Q3 24 | $57.8M | $143.1M | ||
| Q2 24 | $50.9M | $113.2M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $104.1M | ||
| Q3 25 | $84.7M | $300.3M | ||
| Q2 25 | $52.4M | $27.7M | ||
| Q1 25 | $38.2M | $184.7M | ||
| Q4 24 | $36.4M | $-73.8M | ||
| Q3 24 | $57.4M | $138.8M | ||
| Q2 24 | $50.8M | $111.0M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 60.1% | ||
| Q3 25 | 34.0% | 160.9% | ||
| Q2 25 | 22.2% | 14.1% | ||
| Q1 25 | 17.6% | 67.2% | ||
| Q4 24 | 17.9% | -40.4% | ||
| Q3 24 | 27.9% | 77.3% | ||
| Q2 24 | 25.8% | 58.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.4% | ||
| Q3 25 | 0.5% | 1.8% | ||
| Q2 25 | 0.1% | 1.4% | ||
| Q1 25 | 0.1% | 1.3% | ||
| Q4 24 | 0.1% | 1.1% | ||
| Q3 24 | 0.2% | 2.4% | ||
| Q2 24 | 0.0% | 1.2% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 3.08× | ||
| Q3 25 | 2.56× | 7.83× | ||
| Q2 25 | 1.46× | 0.72× | ||
| Q1 25 | 1.23× | 2.51× | ||
| Q4 24 | 0.36× | -2.39× | ||
| Q3 24 | 1.75× | 4.27× | ||
| Q2 24 | 1.71× | 2.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APPF
| Value Added Services | $201.4M | 77% |
| Subscription Services | $58.2M | 22% |
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
