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Side-by-side financial comparison of APPFOLIO INC (APPF) and Clearwater Paper Corp (CLW). Click either name above to swap in a different company.
Clearwater Paper Corp is the larger business by last-quarter revenue ($360.3M vs $262.2M, roughly 1.4× APPFOLIO INC). APPFOLIO INC runs the higher net margin — 16.2% vs -3.6%, a 19.7% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs -4.7%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 2.3%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
APPF vs CLW — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $360.3M |
| Net Profit | $42.4M | $-12.8M |
| Gross Margin | — | -0.2% |
| Operating Margin | 19.4% | — |
| Net Margin | 16.2% | -3.6% |
| Revenue YoY | 20.4% | -4.7% |
| Net Profit YoY | 35.2% | -103.2% |
| 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 | $360.3M | ||
| Q4 25 | $248.2M | $386.4M | ||
| Q3 25 | $249.4M | $399.0M | ||
| Q2 25 | $235.6M | $391.8M | ||
| Q1 25 | $217.7M | $378.2M | ||
| Q4 24 | $203.7M | $387.1M | ||
| Q3 24 | $205.7M | $393.3M | ||
| Q2 24 | $197.4M | $344.4M |
| Q1 26 | $42.4M | $-12.8M | ||
| Q4 25 | $39.9M | $38.3M | ||
| Q3 25 | $33.6M | $-53.3M | ||
| Q2 25 | $36.0M | $2.7M | ||
| Q1 25 | $31.4M | $-6.3M | ||
| Q4 24 | $102.7M | $199.1M | ||
| Q3 24 | $33.0M | $5.8M | ||
| Q2 24 | $29.7M | $-25.8M |
| Q1 26 | — | -0.2% | ||
| Q4 25 | — | 4.5% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 9.7% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | — | 7.7% | ||
| Q2 24 | — | -0.6% |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 1.9% | ||
| Q3 25 | 14.1% | -13.9% | ||
| Q2 25 | 17.2% | 2.5% | ||
| Q1 25 | 15.5% | -1.1% | ||
| Q4 24 | 11.3% | -4.0% | ||
| Q3 24 | 20.7% | -0.3% | ||
| Q2 24 | 18.3% | -13.6% |
| Q1 26 | 16.2% | -3.6% | ||
| Q4 25 | 16.1% | 9.9% | ||
| Q3 25 | 13.5% | -13.4% | ||
| Q2 25 | 15.3% | 0.7% | ||
| Q1 25 | 14.4% | -1.7% | ||
| Q4 24 | 50.4% | 51.4% | ||
| Q3 24 | 16.0% | 1.5% | ||
| Q2 24 | 15.0% | -7.5% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $2.36 | ||
| Q3 25 | $0.93 | $-3.30 | ||
| Q2 25 | $0.99 | $0.17 | ||
| Q1 25 | $0.86 | $-0.38 | ||
| Q4 24 | $2.79 | $11.87 | ||
| Q3 24 | $0.90 | $0.35 | ||
| Q2 24 | $0.81 | $-1.55 |
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 | $36.5M |
| Total DebtLower is stronger | — | $361.1M |
| Stockholders' EquityBook value | $470.2M | $813.8M |
| Total Assets | $580.6M | $1.6B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | $36.5M | ||
| Q4 25 | $107.0M | $30.7M | ||
| Q3 25 | $76.1M | $34.4M | ||
| Q2 25 | $73.5M | $46.7M | ||
| Q1 25 | $56.9M | $44.0M | ||
| Q4 24 | $42.5M | $79.6M | ||
| Q3 24 | $62.4M | $35.5M | ||
| Q2 24 | $59.6M | $39.6M |
| Q1 26 | — | $361.1M | ||
| Q4 25 | — | $346.8M | ||
| Q3 25 | — | $337.0M | ||
| Q2 25 | — | $330.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $283.4M | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.1B |
| Q1 26 | $470.2M | $813.8M | ||
| Q4 25 | $542.6M | $825.3M | ||
| Q3 25 | $498.9M | $783.0M | ||
| Q2 25 | $455.6M | $836.8M | ||
| Q1 25 | $462.1M | $836.6M | ||
| Q4 24 | $519.3M | $854.6M | ||
| Q3 24 | $412.8M | $664.6M | ||
| Q2 24 | $371.4M | $658.6M |
| Q1 26 | $580.6M | $1.6B | ||
| Q4 25 | $689.0M | $1.6B | ||
| Q3 25 | $640.5M | $1.6B | ||
| Q2 25 | $567.4M | $1.6B | ||
| Q1 25 | $564.7M | $1.6B | ||
| Q4 24 | $626.7M | $1.7B | ||
| Q3 24 | $523.3M | $2.5B | ||
| Q2 24 | $479.3M | $2.5B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.33× | ||
| Q3 24 | — | 1.73× | ||
| Q2 24 | — | 1.74× |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $5.0M | ||
| Q3 25 | $86.0M | $34.0M | ||
| Q2 25 | $52.6M | $-28.2M | ||
| Q1 25 | $38.5M | $1.5M | ||
| Q4 24 | $36.6M | $-35.1M | ||
| Q3 24 | $57.8M | $16.2M | ||
| Q2 24 | $50.9M | $21.1M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-9.9M | ||
| Q3 25 | $84.7M | $15.7M | ||
| Q2 25 | $52.4M | $-51.1M | ||
| Q1 25 | $38.2M | $-31.2M | ||
| Q4 24 | $36.4M | $-68.1M | ||
| Q3 24 | $57.4M | $-30.8M | ||
| Q2 24 | $50.8M | $3.0M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -2.6% | ||
| Q3 25 | 34.0% | 3.9% | ||
| Q2 25 | 22.2% | -13.0% | ||
| Q1 25 | 17.6% | -8.2% | ||
| Q4 24 | 17.9% | -17.6% | ||
| Q3 24 | 27.9% | -7.8% | ||
| Q2 24 | 25.8% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 3.9% | ||
| Q3 25 | 0.5% | 4.6% | ||
| Q2 25 | 0.1% | 5.8% | ||
| Q1 25 | 0.1% | 8.6% | ||
| Q4 24 | 0.1% | 8.5% | ||
| Q3 24 | 0.2% | 12.0% | ||
| Q2 24 | 0.0% | 5.3% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 0.13× | ||
| Q3 25 | 2.56× | — | ||
| Q2 25 | 1.46× | -10.44× | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 0.36× | -0.18× | ||
| Q3 24 | 1.75× | 2.79× | ||
| Q2 24 | 1.71× | — |
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% |
CLW
Segment breakdown not available.
