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Side-by-side financial comparison of APPFOLIO INC (APPF) and Forestar Group Inc. (FOR). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $262.2M, roughly 1.0× APPFOLIO INC). APPFOLIO INC runs the higher net margin — 16.2% vs 5.6%, a 10.5% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 9.0%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs -9.6%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Forestar Group Inc. is a residential lot development company based in Arlington, Texas. The company has operations in 51 markets in 21 states and delivered 11,518 residential lots during the twelve-month period ended December 31, 2020. The company is publicly traded on the New York Stock Exchange and in October 2017 became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. The company primarily acquires entitled real estate and...
APPF vs FOR — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $273.0M |
| Net Profit | $42.4M | $15.4M |
| Gross Margin | — | 20.1% |
| Operating Margin | 19.4% | 7.6% |
| Net Margin | 16.2% | 5.6% |
| Revenue YoY | 20.4% | 9.0% |
| Net Profit YoY | 35.2% | -6.7% |
| EPS (diluted) | $1.18 | $0.30 |
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 | $273.0M | ||
| Q3 25 | $249.4M | $670.5M | ||
| Q2 25 | $235.6M | $390.5M | ||
| Q1 25 | $217.7M | $351.0M | ||
| Q4 24 | $203.7M | $250.4M | ||
| Q3 24 | $205.7M | $551.3M | ||
| Q2 24 | $197.4M | $318.4M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $15.4M | ||
| Q3 25 | $33.6M | $86.9M | ||
| Q2 25 | $36.0M | $32.9M | ||
| Q1 25 | $31.4M | $31.6M | ||
| Q4 24 | $102.7M | $16.5M | ||
| Q3 24 | $33.0M | $81.5M | ||
| Q2 24 | $29.7M | $38.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 22.5% |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 7.6% | ||
| Q3 25 | 14.1% | 16.9% | ||
| Q2 25 | 17.2% | 11.2% | ||
| Q1 25 | 15.5% | 11.6% | ||
| Q4 24 | 11.3% | 8.7% | ||
| Q3 24 | 20.7% | 19.7% | ||
| Q2 24 | 18.3% | 16.2% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 5.6% | ||
| Q3 25 | 13.5% | 13.0% | ||
| Q2 25 | 15.3% | 8.4% | ||
| Q1 25 | 14.4% | 9.0% | ||
| Q4 24 | 50.4% | 6.6% | ||
| Q3 24 | 16.0% | 14.8% | ||
| Q2 24 | 15.0% | 12.2% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.30 | ||
| Q3 25 | $0.93 | $1.70 | ||
| Q2 25 | $0.99 | $0.65 | ||
| Q1 25 | $0.86 | $0.62 | ||
| Q4 24 | $2.79 | $0.32 | ||
| Q3 24 | $0.90 | $1.59 | ||
| Q2 24 | $0.81 | $0.76 |
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 | $211.7M |
| Total DebtLower is stronger | — | $793.2M |
| Stockholders' EquityBook value | $470.2M | $1.8B |
| Total Assets | $580.6M | $3.2B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $211.7M | ||
| Q3 25 | $76.1M | $379.2M | ||
| Q2 25 | $73.5M | $189.2M | ||
| Q1 25 | $56.9M | $174.3M | ||
| Q4 24 | $42.5M | $132.0M | ||
| Q3 24 | $62.4M | $481.2M | ||
| Q2 24 | $59.6M | $359.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $793.2M | ||
| Q3 25 | — | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | — | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $1.8B | ||
| Q3 25 | $498.9M | $1.8B | ||
| Q2 25 | $455.6M | $1.7B | ||
| Q1 25 | $462.1M | $1.6B | ||
| Q4 24 | $519.3M | $1.6B | ||
| Q3 24 | $412.8M | $1.6B | ||
| Q2 24 | $371.4M | $1.5B |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $3.2B | ||
| Q3 25 | $640.5M | $3.1B | ||
| Q2 25 | $567.4M | $3.1B | ||
| Q1 25 | $564.7M | $3.0B | ||
| Q4 24 | $626.7M | $3.0B | ||
| Q3 24 | $523.3M | $2.8B | ||
| Q2 24 | $479.3M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× |
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 | $-157.0M |
| Free Cash FlowOCF − Capex | — | $-157.1M |
| FCF MarginFCF / Revenue | — | -57.5% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | 0.81× | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $-157.0M | ||
| Q3 25 | $86.0M | $256.3M | ||
| Q2 25 | $52.6M | $15.8M | ||
| Q1 25 | $38.5M | $-19.8M | ||
| Q4 24 | $36.6M | $-450.0M | ||
| Q3 24 | $57.8M | $119.2M | ||
| Q2 24 | $50.9M | $-61.7M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-157.1M | ||
| Q3 25 | $84.7M | $255.6M | ||
| Q2 25 | $52.4M | $15.0M | ||
| Q1 25 | $38.2M | $-20.5M | ||
| Q4 24 | $36.4M | — | ||
| Q3 24 | $57.4M | $118.4M | ||
| Q2 24 | $50.8M | $-62.3M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -57.5% | ||
| Q3 25 | 34.0% | 38.1% | ||
| Q2 25 | 22.2% | 3.8% | ||
| Q1 25 | 17.6% | -5.8% | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 27.9% | 21.5% | ||
| Q2 24 | 25.8% | -19.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.0% | ||
| Q3 25 | 0.5% | 0.1% | ||
| Q2 25 | 0.1% | 0.2% | ||
| Q1 25 | 0.1% | 0.2% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 0.0% | 0.2% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | -10.19× | ||
| Q3 25 | 2.56× | 2.95× | ||
| Q2 25 | 1.46× | 0.48× | ||
| Q1 25 | 1.23× | -0.63× | ||
| Q4 24 | 0.36× | -27.27× | ||
| Q3 24 | 1.75× | 1.46× | ||
| Q2 24 | 1.71× | -1.59× |
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% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
