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Side-by-side financial comparison of APPFOLIO INC (APPF) and Gaming & Leisure Properties, Inc. (GLPI). Click either name above to swap in a different company.
Gaming & Leisure Properties, Inc. is the larger business by last-quarter revenue ($420.0M vs $262.2M, roughly 1.6× APPFOLIO INC). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 16.2%, a 40.8% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 6.3%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 5.0%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
APPF vs GLPI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $420.0M |
| Net Profit | $42.4M | $239.4M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | 79.4% |
| Net Margin | 16.2% | 57.0% |
| Revenue YoY | 20.4% | 6.3% |
| Net Profit YoY | 35.2% | 40.5% |
| EPS (diluted) | $1.18 | — |
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 | $420.0M | ||
| Q4 25 | $248.2M | $407.0M | ||
| Q3 25 | $249.4M | $397.6M | ||
| Q2 25 | $235.6M | $394.9M | ||
| Q1 25 | $217.7M | $395.2M | ||
| Q4 24 | $203.7M | $389.6M | ||
| Q3 24 | $205.7M | $385.3M | ||
| Q2 24 | $197.4M | $380.6M |
| Q1 26 | $42.4M | $239.4M | ||
| Q4 25 | $39.9M | $275.4M | ||
| Q3 25 | $33.6M | $241.2M | ||
| Q2 25 | $36.0M | $151.4M | ||
| Q1 25 | $31.4M | $165.2M | ||
| Q4 24 | $102.7M | $223.6M | ||
| Q3 24 | $33.0M | $184.7M | ||
| Q2 24 | $29.7M | $208.3M |
| Q1 26 | 19.4% | 79.4% | ||
| Q4 25 | 17.6% | 89.3% | ||
| Q3 25 | 14.1% | 84.8% | ||
| Q2 25 | 17.2% | 61.3% | ||
| Q1 25 | 15.5% | 65.5% | ||
| Q4 24 | 11.3% | 79.1% | ||
| Q3 24 | 20.7% | 70.4% | ||
| Q2 24 | 18.3% | 77.1% |
| Q1 26 | 16.2% | 57.0% | ||
| Q4 25 | 16.1% | 67.6% | ||
| Q3 25 | 13.5% | 60.7% | ||
| Q2 25 | 15.3% | 38.4% | ||
| Q1 25 | 14.4% | 41.8% | ||
| Q4 24 | 50.4% | 57.4% | ||
| Q3 24 | 16.0% | 47.9% | ||
| Q2 24 | 15.0% | 54.7% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.96 | ||
| Q3 25 | $0.93 | $0.85 | ||
| Q2 25 | $0.99 | $0.54 | ||
| Q1 25 | $0.86 | $0.60 | ||
| Q4 24 | $2.79 | $0.79 | ||
| Q3 24 | $0.90 | $0.67 | ||
| Q2 24 | $0.81 | $0.77 |
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 | $274.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | $5.0B |
| Total Assets | $580.6M | $13.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | $274.5M | ||
| Q4 25 | $107.0M | — | ||
| Q3 25 | $76.1M | — | ||
| Q2 25 | $73.5M | — | ||
| Q1 25 | $56.9M | — | ||
| Q4 24 | $42.5M | $560.8M | ||
| Q3 24 | $62.4M | $560.8M | ||
| Q2 24 | $59.6M | $560.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $6.9B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $6.6B |
| Q1 26 | $470.2M | $5.0B | ||
| Q4 25 | $542.6M | $4.6B | ||
| Q3 25 | $498.9M | $4.6B | ||
| Q2 25 | $455.6M | $4.6B | ||
| Q1 25 | $462.1M | $4.2B | ||
| Q4 24 | $519.3M | $4.3B | ||
| Q3 24 | $412.8M | $4.3B | ||
| Q2 24 | $371.4M | $4.1B |
| Q1 26 | $580.6M | $13.8B | ||
| Q4 25 | $689.0M | $12.9B | ||
| Q3 25 | $640.5M | $12.8B | ||
| Q2 25 | $567.4M | $12.5B | ||
| Q1 25 | $564.7M | $12.1B | ||
| Q4 24 | $626.7M | $13.1B | ||
| Q3 24 | $523.3M | $12.7B | ||
| Q2 24 | $479.3M | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.56× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | — | 1.51× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 1.74× | ||
| Q2 24 | — | 1.60× |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $1.1B | ||
| Q3 25 | $86.0M | $240.3M | ||
| Q2 25 | $52.6M | $293.4M | ||
| Q1 25 | $38.5M | $252.5M | ||
| Q4 24 | $36.6M | $1.1B | ||
| Q3 24 | $57.8M | $270.4M | ||
| Q2 24 | $50.9M | $252.1M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | — | ||
| Q3 25 | $84.7M | $183.0M | ||
| Q2 25 | $52.4M | $272.3M | ||
| Q1 25 | $38.2M | $239.6M | ||
| Q4 24 | $36.4M | $1.1B | ||
| Q3 24 | $57.4M | $261.5M | ||
| Q2 24 | $50.8M | $245.0M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | — | ||
| Q3 25 | 34.0% | 46.0% | ||
| Q2 25 | 22.2% | 69.0% | ||
| Q1 25 | 17.6% | 60.6% | ||
| Q4 24 | 17.9% | 275.3% | ||
| Q3 24 | 27.9% | 67.9% | ||
| Q2 24 | 25.8% | 64.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.5% | 14.4% | ||
| Q2 25 | 0.1% | 5.3% | ||
| Q1 25 | 0.1% | 3.3% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 0.2% | 2.3% | ||
| Q2 24 | 0.0% | 1.9% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 4.10× | ||
| Q3 25 | 2.56× | 1.00× | ||
| Q2 25 | 1.46× | 1.94× | ||
| Q1 25 | 1.23× | 1.53× | ||
| Q4 24 | 0.36× | 4.80× | ||
| Q3 24 | 1.75× | 1.46× | ||
| Q2 24 | 1.71× | 1.21× |
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% |
GLPI
Segment breakdown not available.
