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Side-by-side financial comparison of APPFOLIO INC (APPF) and COHEN & STEERS, INC. (CNS). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $143.8M, roughly 1.8× COHEN & STEERS, INC.). COHEN & STEERS, INC. runs the higher net margin — 24.3% vs 16.2%, a 8.1% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 2.9%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 8.3%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Cohen & Steers is an American investment management company. It focuses on investments in real estate securities via real estate investment trusts (REIT) and alternative income via preferred securities.
APPF vs CNS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $143.8M |
| Net Profit | $42.4M | $34.9M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | 28.0% |
| Net Margin | 16.2% | 24.3% |
| Revenue YoY | 20.4% | 2.9% |
| Net Profit YoY | 35.2% | -23.9% |
| EPS (diluted) | $1.18 | $0.67 |
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 | $143.8M | ||
| Q3 25 | $249.4M | $141.7M | ||
| Q2 25 | $235.6M | $136.1M | ||
| Q1 25 | $217.7M | $134.5M | ||
| Q4 24 | $203.7M | $139.8M | ||
| Q3 24 | $205.7M | $133.2M | ||
| Q2 24 | $197.4M | $121.7M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $34.9M | ||
| Q3 25 | $33.6M | $41.7M | ||
| Q2 25 | $36.0M | $36.8M | ||
| Q1 25 | $31.4M | $39.8M | ||
| Q4 24 | $102.7M | $45.8M | ||
| Q3 24 | $33.0M | $39.7M | ||
| Q2 24 | $29.7M | $31.8M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 28.0% | ||
| Q3 25 | 14.1% | 34.5% | ||
| Q2 25 | 17.2% | 31.8% | ||
| Q1 25 | 15.5% | 33.6% | ||
| Q4 24 | 11.3% | 35.3% | ||
| Q3 24 | 20.7% | 33.7% | ||
| Q2 24 | 18.3% | 31.5% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 24.3% | ||
| Q3 25 | 13.5% | 29.4% | ||
| Q2 25 | 15.3% | 27.1% | ||
| Q1 25 | 14.4% | 29.6% | ||
| Q4 24 | 50.4% | 32.8% | ||
| Q3 24 | 16.0% | 29.8% | ||
| Q2 24 | 15.0% | 26.1% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.67 | ||
| Q3 25 | $0.93 | $0.81 | ||
| Q2 25 | $0.99 | $0.72 | ||
| Q1 25 | $0.86 | $0.77 | ||
| Q4 24 | $2.79 | $0.89 | ||
| Q3 24 | $0.90 | $0.77 | ||
| Q2 24 | $0.81 | $0.63 |
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 | $145.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | $562.0M |
| Total Assets | $580.6M | $876.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $145.5M | ||
| Q3 25 | $76.1M | $98.1M | ||
| Q2 25 | $73.5M | $95.4M | ||
| Q1 25 | $56.9M | $65.2M | ||
| Q4 24 | $42.5M | $183.0M | ||
| Q3 24 | $62.4M | $106.5M | ||
| Q2 24 | $59.6M | $122.0M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $562.0M | ||
| Q3 25 | $498.9M | $550.3M | ||
| Q2 25 | $455.6M | $528.5M | ||
| Q1 25 | $462.1M | $507.7M | ||
| Q4 24 | $519.3M | $511.7M | ||
| Q3 24 | $412.8M | $491.0M | ||
| Q2 24 | $371.4M | $463.2M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $876.7M | ||
| Q3 25 | $640.5M | $801.6M | ||
| Q2 25 | $567.4M | $751.0M | ||
| Q1 25 | $564.7M | $834.9M | ||
| Q4 24 | $626.7M | $812.4M | ||
| Q3 24 | $523.3M | $727.8M | ||
| Q2 24 | $479.3M | $784.1M |
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 | $-120.4M |
| Free Cash FlowOCF − Capex | — | $-126.4M |
| FCF MarginFCF / Revenue | — | -87.9% |
| Capex IntensityCapex / Revenue | — | 4.2% |
| Cash ConversionOCF / Net Profit | 0.81× | -3.45× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-253.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $-120.4M | ||
| Q3 25 | $86.0M | $55.1M | ||
| Q2 25 | $52.6M | $-67.6M | ||
| Q1 25 | $38.5M | $-108.9M | ||
| Q4 24 | $36.6M | $96.7M | ||
| Q3 24 | $57.8M | $25.6M | ||
| Q2 24 | $50.9M | $31.4M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-126.4M | ||
| Q3 25 | $84.7M | $52.6M | ||
| Q2 25 | $52.4M | $-69.8M | ||
| Q1 25 | $38.2M | $-110.0M | ||
| Q4 24 | $36.4M | $85.0M | ||
| Q3 24 | $57.4M | $24.2M | ||
| Q2 24 | $50.8M | $27.1M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -87.9% | ||
| Q3 25 | 34.0% | 37.1% | ||
| Q2 25 | 22.2% | -51.3% | ||
| Q1 25 | 17.6% | -81.8% | ||
| Q4 24 | 17.9% | 60.8% | ||
| Q3 24 | 27.9% | 18.2% | ||
| Q2 24 | 25.8% | 22.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 4.2% | ||
| Q3 25 | 0.5% | 1.8% | ||
| Q2 25 | 0.1% | 1.6% | ||
| Q1 25 | 0.1% | 0.8% | ||
| Q4 24 | 0.1% | 8.3% | ||
| Q3 24 | 0.2% | 1.1% | ||
| Q2 24 | 0.0% | 3.5% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | -3.45× | ||
| Q3 25 | 2.56× | 1.32× | ||
| Q2 25 | 1.46× | -1.84× | ||
| Q1 25 | 1.23× | -2.74× | ||
| Q4 24 | 0.36× | 2.11× | ||
| Q3 24 | 1.75× | 0.65× | ||
| Q2 24 | 1.71× | 0.99× |
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% |
CNS
Segment breakdown not available.
