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Side-by-side financial comparison of APPFOLIO INC (APPF) and FIRST INTERSTATE BANCSYSTEM INC (FIBK). Click either name above to swap in a different company.
FIRST INTERSTATE BANCSYSTEM INC is the larger business by last-quarter revenue ($313.0M vs $262.2M, roughly 1.2× APPFOLIO INC). FIRST INTERSTATE BANCSYSTEM INC runs the higher net margin — 34.8% vs 16.2%, a 18.6% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 19.8%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 13.7%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern United States. It is the largest bank based in Montana, as measured by total assets.
APPF vs FIBK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $313.0M |
| Net Profit | $42.4M | $108.8M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | 44.5% |
| Net Margin | 16.2% | 34.8% |
| Revenue YoY | 20.4% | 19.8% |
| Net Profit YoY | 35.2% | 108.8% |
| EPS (diluted) | $1.18 | $1.07 |
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 | $313.0M | ||
| Q3 25 | $249.4M | $250.5M | ||
| Q2 25 | $235.6M | $248.3M | ||
| Q1 25 | $217.7M | $247.0M | ||
| Q4 24 | $203.7M | $261.3M | ||
| Q3 24 | $205.7M | $251.9M | ||
| Q2 24 | $197.4M | $244.3M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $108.8M | ||
| Q3 25 | $33.6M | $71.4M | ||
| Q2 25 | $36.0M | $71.7M | ||
| Q1 25 | $31.4M | $50.2M | ||
| Q4 24 | $102.7M | $52.1M | ||
| Q3 24 | $33.0M | $55.5M | ||
| Q2 24 | $29.7M | $60.0M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 44.5% | ||
| Q3 25 | 14.1% | 37.0% | ||
| Q2 25 | 17.2% | 37.7% | ||
| Q1 25 | 15.5% | 26.9% | ||
| Q4 24 | 11.3% | 25.5% | ||
| Q3 24 | 20.7% | 28.9% | ||
| Q2 24 | 18.3% | 32.1% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 34.8% | ||
| Q3 25 | 13.5% | 28.5% | ||
| Q2 25 | 15.3% | 28.9% | ||
| Q1 25 | 14.4% | 20.3% | ||
| Q4 24 | 50.4% | 19.9% | ||
| Q3 24 | 16.0% | 22.0% | ||
| Q2 24 | 15.0% | 24.6% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $1.07 | ||
| Q3 25 | $0.93 | $0.69 | ||
| Q2 25 | $0.99 | $0.69 | ||
| Q1 25 | $0.86 | $0.49 | ||
| Q4 24 | $2.79 | $0.50 | ||
| Q3 24 | $0.90 | $0.54 | ||
| Q2 24 | $0.81 | $0.58 |
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 | — |
| Total DebtLower is stronger | — | $146.3M |
| Stockholders' EquityBook value | $470.2M | $3.4B |
| Total Assets | $580.6M | $26.6B |
| Debt / EquityLower = less leverage | — | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | — | ||
| Q3 25 | $76.1M | — | ||
| Q2 25 | $73.5M | — | ||
| Q1 25 | $56.9M | — | ||
| Q4 24 | $42.5M | — | ||
| Q3 24 | $62.4M | — | ||
| Q2 24 | $59.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $146.3M | ||
| Q3 25 | — | $146.2M | ||
| Q2 25 | — | $252.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $132.2M | ||
| Q3 24 | — | $137.3M | ||
| Q2 24 | — | $383.4M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $3.4B | ||
| Q3 25 | $498.9M | $3.4B | ||
| Q2 25 | $455.6M | $3.4B | ||
| Q1 25 | $462.1M | $3.4B | ||
| Q4 24 | $519.3M | $3.3B | ||
| Q3 24 | $412.8M | $3.4B | ||
| Q2 24 | $371.4M | $3.2B |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $26.6B | ||
| Q3 25 | $640.5M | $27.3B | ||
| Q2 25 | $567.4M | $27.6B | ||
| Q1 25 | $564.7M | $28.3B | ||
| Q4 24 | $626.7M | $29.1B | ||
| Q3 24 | $523.3M | $29.6B | ||
| Q2 24 | $479.3M | $30.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.12× |
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 | $305.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.81× | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $305.6M | ||
| Q3 25 | $86.0M | $91.7M | ||
| Q2 25 | $52.6M | $68.1M | ||
| Q1 25 | $38.5M | $78.5M | ||
| Q4 24 | $36.6M | $355.0M | ||
| Q3 24 | $57.8M | $89.9M | ||
| Q2 24 | $50.9M | $82.3M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | — | ||
| Q3 25 | $84.7M | — | ||
| Q2 25 | $52.4M | — | ||
| Q1 25 | $38.2M | — | ||
| Q4 24 | $36.4M | — | ||
| Q3 24 | $57.4M | — | ||
| Q2 24 | $50.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | — | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 22.2% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 27.9% | — | ||
| Q2 24 | 25.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.0% | — |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 2.81× | ||
| Q3 25 | 2.56× | 1.28× | ||
| Q2 25 | 1.46× | 0.95× | ||
| Q1 25 | 1.23× | 1.56× | ||
| Q4 24 | 0.36× | 6.81× | ||
| Q3 24 | 1.75× | 1.62× | ||
| Q2 24 | 1.71× | 1.37× |
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% |
FIBK
Segment breakdown not available.
