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Side-by-side financial comparison of APPFOLIO INC (APPF) and CSW INDUSTRIALS, INC. (CSW). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $233.0M, roughly 1.1× CSW INDUSTRIALS, INC.). APPFOLIO INC runs the higher net margin — 16.2% vs 4.4%, a 11.8% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 20.3%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 5.1%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
APPF vs CSW — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $233.0M |
| Net Profit | $42.4M | $10.3M |
| Gross Margin | — | 39.7% |
| Operating Margin | 19.4% | 7.4% |
| Net Margin | 16.2% | 4.4% |
| Revenue YoY | 20.4% | 20.3% |
| Net Profit YoY | 35.2% | -61.9% |
| EPS (diluted) | $1.18 | $0.62 |
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 | $233.0M | ||
| Q3 25 | $249.4M | $277.0M | ||
| Q2 25 | $235.6M | $263.6M | ||
| Q1 25 | $217.7M | $230.5M | ||
| Q4 24 | $203.7M | $193.6M | ||
| Q3 24 | $205.7M | $227.9M | ||
| Q2 24 | $197.4M | $226.2M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $10.3M | ||
| Q3 25 | $33.6M | $40.7M | ||
| Q2 25 | $36.0M | $40.9M | ||
| Q1 25 | $31.4M | $35.1M | ||
| Q4 24 | $102.7M | $26.9M | ||
| Q3 24 | $33.0M | $36.1M | ||
| Q2 24 | $29.7M | $38.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 39.7% | ||
| Q3 25 | — | 43.0% | ||
| Q2 25 | — | 43.8% | ||
| Q1 25 | — | 44.2% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 45.6% | ||
| Q2 24 | — | 47.5% |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 7.4% | ||
| Q3 25 | 14.1% | 20.5% | ||
| Q2 25 | 17.2% | 20.8% | ||
| Q1 25 | 15.5% | 19.5% | ||
| Q4 24 | 11.3% | 15.3% | ||
| Q3 24 | 20.7% | 22.6% | ||
| Q2 24 | 18.3% | 24.3% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 4.4% | ||
| Q3 25 | 13.5% | 14.7% | ||
| Q2 25 | 15.3% | 15.5% | ||
| Q1 25 | 14.4% | 15.2% | ||
| Q4 24 | 50.4% | 13.9% | ||
| Q3 24 | 16.0% | 15.8% | ||
| Q2 24 | 15.0% | 17.1% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.62 | ||
| Q3 25 | $0.93 | $2.41 | ||
| Q2 25 | $0.99 | $2.43 | ||
| Q1 25 | $0.86 | $2.05 | ||
| Q4 24 | $2.79 | $1.60 | ||
| Q3 24 | $0.90 | $2.26 | ||
| Q2 24 | $0.81 | $2.47 |
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 | $40.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | $1.1B |
| Total Assets | $580.6M | $2.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $40.2M | ||
| Q3 25 | $76.1M | $31.5M | ||
| Q2 25 | $73.5M | $38.0M | ||
| Q1 25 | $56.9M | $225.8M | ||
| Q4 24 | $42.5M | $213.8M | ||
| Q3 24 | $62.4M | $273.2M | ||
| Q2 24 | $59.6M | $18.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $800.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $1.1B | ||
| Q3 25 | $498.9M | $1.1B | ||
| Q2 25 | $455.6M | $1.1B | ||
| Q1 25 | $462.1M | $1.1B | ||
| Q4 24 | $519.3M | $1.0B | ||
| Q3 24 | $412.8M | $1.0B | ||
| Q2 24 | $371.4M | $650.2M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $2.3B | ||
| Q3 25 | $640.5M | $1.5B | ||
| Q2 25 | $567.4M | $1.5B | ||
| Q1 25 | $564.7M | $1.4B | ||
| Q4 24 | $626.7M | $1.4B | ||
| Q3 24 | $523.3M | $1.4B | ||
| Q2 24 | $479.3M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | — | ||
| 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 | $34.3M | $28.9M |
| Free Cash FlowOCF − Capex | — | $22.7M |
| FCF MarginFCF / Revenue | — | 9.8% |
| Capex IntensityCapex / Revenue | — | 2.6% |
| Cash ConversionOCF / Net Profit | 0.81× | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | — | $162.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $28.9M | ||
| Q3 25 | $86.0M | $61.8M | ||
| Q2 25 | $52.6M | $60.6M | ||
| Q1 25 | $38.5M | $27.3M | ||
| Q4 24 | $36.6M | $11.6M | ||
| Q3 24 | $57.8M | $66.8M | ||
| Q2 24 | $50.9M | $62.7M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $22.7M | ||
| Q3 25 | $84.7M | $58.7M | ||
| Q2 25 | $52.4M | $57.7M | ||
| Q1 25 | $38.2M | $22.8M | ||
| Q4 24 | $36.4M | $8.5M | ||
| Q3 24 | $57.4M | $61.3M | ||
| Q2 24 | $50.8M | $59.6M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 9.8% | ||
| Q3 25 | 34.0% | 21.2% | ||
| Q2 25 | 22.2% | 21.9% | ||
| Q1 25 | 17.6% | 9.9% | ||
| Q4 24 | 17.9% | 4.4% | ||
| Q3 24 | 27.9% | 26.9% | ||
| Q2 24 | 25.8% | 26.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.6% | ||
| Q3 25 | 0.5% | 1.1% | ||
| Q2 25 | 0.1% | 1.1% | ||
| Q1 25 | 0.1% | 2.0% | ||
| Q4 24 | 0.1% | 1.6% | ||
| Q3 24 | 0.2% | 2.4% | ||
| Q2 24 | 0.0% | 1.4% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 2.81× | ||
| Q3 25 | 2.56× | 1.52× | ||
| Q2 25 | 1.46× | 1.48× | ||
| Q1 25 | 1.23× | 0.78× | ||
| Q4 24 | 0.36× | 0.43× | ||
| Q3 24 | 1.75× | 1.85× | ||
| Q2 24 | 1.71× | 1.62× |
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% |
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
