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Side-by-side financial comparison of APPFOLIO INC (APPF) and Compass Diversified Holdings (CODI). Click either name above to swap in a different company.
Compass Diversified Holdings is the larger business by last-quarter revenue ($468.6M vs $262.2M, roughly 1.8× APPFOLIO INC). APPFOLIO INC runs the higher net margin — 16.2% vs -16.8%, a 33.0% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs -5.1%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 6.8%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Compass Diversified Holdings is a publicly traded holding firm that acquires and operates a diverse portfolio of middle-market businesses across sectors including consumer goods, industrial manufacturing, outdoor recreation, and food & beverage. It partners with portfolio company leadership teams to drive long-term operational growth and value creation, primarily serving North American markets.
APPF vs CODI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $468.6M |
| Net Profit | $42.4M | $-78.8M |
| Gross Margin | — | 43.1% |
| Operating Margin | 19.4% | 9.8% |
| Net Margin | 16.2% | -16.8% |
| Revenue YoY | 20.4% | -5.1% |
| Net Profit YoY | 35.2% | -14.4% |
| EPS (diluted) | $1.18 | $-0.91 |
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 | $468.6M | ||
| Q3 25 | $249.4M | $472.6M | ||
| Q2 25 | $235.6M | $478.7M | ||
| Q1 25 | $217.7M | $453.8M | ||
| Q4 24 | $203.7M | $493.9M | ||
| Q3 24 | $205.7M | $456.6M | ||
| Q2 24 | $197.4M | $426.7M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $-78.8M | ||
| Q3 25 | $33.6M | $-74.0M | ||
| Q2 25 | $36.0M | $-51.2M | ||
| Q1 25 | $31.4M | $-30.0M | ||
| Q4 24 | $102.7M | $-68.9M | ||
| Q3 24 | $33.0M | $-36.0M | ||
| Q2 24 | $29.7M | $-73.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 43.1% | ||
| Q3 25 | — | 44.0% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 44.1% |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 9.8% | ||
| Q3 25 | 14.1% | -2.3% | ||
| Q2 25 | 17.2% | -5.7% | ||
| Q1 25 | 15.5% | 0.8% | ||
| Q4 24 | 11.3% | -3.8% | ||
| Q3 24 | 20.7% | 1.8% | ||
| Q2 24 | 18.3% | 1.8% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | -16.8% | ||
| Q3 25 | 13.5% | -15.7% | ||
| Q2 25 | 15.3% | -10.7% | ||
| Q1 25 | 14.4% | -6.6% | ||
| Q4 24 | 50.4% | -13.9% | ||
| Q3 24 | 16.0% | -7.9% | ||
| Q2 24 | 15.0% | -17.1% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $-0.91 | ||
| Q3 25 | $0.93 | $-1.21 | ||
| Q2 25 | $0.99 | $-0.88 | ||
| Q1 25 | $0.86 | $-0.59 | ||
| Q4 24 | $2.79 | $-0.57 | ||
| Q3 24 | $0.90 | $-0.62 | ||
| Q2 24 | $0.81 | $-1.12 |
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 | $68.0M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $470.2M | $442.0M |
| Total Assets | $580.6M | $3.0B |
| Debt / EquityLower = less leverage | — | 4.25× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $68.0M | ||
| Q3 25 | $76.1M | $61.1M | ||
| Q2 25 | $73.5M | $73.8M | ||
| Q1 25 | $56.9M | $146.2M | ||
| Q4 24 | $42.5M | $59.7M | ||
| Q3 24 | $62.4M | $64.9M | ||
| Q2 24 | $59.6M | $61.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.7B |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $442.0M | ||
| Q3 25 | $498.9M | $519.2M | ||
| Q2 25 | $455.6M | $601.9M | ||
| Q1 25 | $462.1M | $680.7M | ||
| Q4 24 | $519.3M | $678.6M | ||
| Q3 24 | $412.8M | $672.2M | ||
| Q2 24 | $371.4M | $711.3M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $3.0B | ||
| Q3 25 | $640.5M | $3.2B | ||
| Q2 25 | $567.4M | $3.3B | ||
| Q1 25 | $564.7M | $3.4B | ||
| Q4 24 | $626.7M | $3.3B | ||
| Q3 24 | $523.3M | $3.3B | ||
| Q2 24 | $479.3M | $3.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.25× | ||
| Q3 25 | — | 3.62× | ||
| Q2 25 | — | 3.09× | ||
| Q1 25 | — | 2.73× | ||
| Q4 24 | — | 2.61× | ||
| Q3 24 | — | 2.64× | ||
| Q2 24 | — | 2.42× |
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 | $47.0M |
| Free Cash FlowOCF − Capex | — | $36.9M |
| FCF MarginFCF / Revenue | — | 7.9% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-51.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $47.0M | ||
| Q3 25 | $86.0M | $10.7M | ||
| Q2 25 | $52.6M | $-35.2M | ||
| Q1 25 | $38.5M | $-29.3M | ||
| Q4 24 | $36.6M | $-16.1M | ||
| Q3 24 | $57.8M | $-48.4M | ||
| Q2 24 | $50.9M | $-61.3M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $36.9M | ||
| Q3 25 | $84.7M | $481.0K | ||
| Q2 25 | $52.4M | $-46.0M | ||
| Q1 25 | $38.2M | $-42.4M | ||
| Q4 24 | $36.4M | $-39.0M | ||
| Q3 24 | $57.4M | $-63.5M | ||
| Q2 24 | $50.8M | $-72.2M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 7.9% | ||
| Q3 25 | 34.0% | 0.1% | ||
| Q2 25 | 22.2% | -9.6% | ||
| Q1 25 | 17.6% | -9.4% | ||
| Q4 24 | 17.9% | -7.9% | ||
| Q3 24 | 27.9% | -13.9% | ||
| Q2 24 | 25.8% | -16.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.2% | ||
| Q3 25 | 0.5% | 2.2% | ||
| Q2 25 | 0.1% | 2.3% | ||
| Q1 25 | 0.1% | 2.9% | ||
| Q4 24 | 0.1% | 4.6% | ||
| Q3 24 | 0.2% | 3.3% | ||
| Q2 24 | 0.0% | 2.6% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 2.56× | — | ||
| Q2 25 | 1.46× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | — | ||
| 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% |
CODI
| Other | $119.5M | 26% |
| A5.11Tactical | $113.9M | 24% |
| Sterno Products | $85.9M | 18% |
| Altor | $60.8M | 13% |
| The Honey Pot | $36.0M | 8% |
| Arnold | $25.4M | 5% |
| Velocity Outdoor | $18.7M | 4% |
| Lugano | $8.3M | 2% |
