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Side-by-side financial comparison of APPFOLIO INC (APPF) and HCI Group, Inc. (HCI). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $242.9M, roughly 1.1× HCI Group, Inc.). HCI Group, Inc. runs the higher net margin — 35.0% vs 16.2%, a 18.8% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 12.2%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 8.5%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
APPF vs HCI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $242.9M |
| Net Profit | $42.4M | $85.0M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | — |
| Net Margin | 16.2% | 35.0% |
| Revenue YoY | 20.4% | 12.2% |
| Net Profit YoY | 35.2% | 14.6% |
| EPS (diluted) | $1.18 | $5.45 |
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 | $242.9M | ||
| Q4 25 | $248.2M | $246.2M | ||
| Q3 25 | $249.4M | $216.3M | ||
| Q2 25 | $235.6M | $221.9M | ||
| Q1 25 | $217.7M | $216.4M | ||
| Q4 24 | $203.7M | $161.9M | ||
| Q3 24 | $205.7M | $175.3M | ||
| Q2 24 | $197.4M | $206.2M |
| Q1 26 | $42.4M | $85.0M | ||
| Q4 25 | $39.9M | $97.7M | ||
| Q3 25 | $33.6M | $65.5M | ||
| Q2 25 | $36.0M | $66.2M | ||
| Q1 25 | $31.4M | $69.7M | ||
| Q4 24 | $102.7M | $2.6M | ||
| Q3 24 | $33.0M | $5.7M | ||
| Q2 24 | $29.7M | $54.1M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 58.5% | ||
| Q3 25 | 14.1% | 41.9% | ||
| Q2 25 | 17.2% | 42.5% | ||
| Q1 25 | 15.5% | 46.4% | ||
| Q4 24 | 11.3% | 3.6% | ||
| Q3 24 | 20.7% | 8.0% | ||
| Q2 24 | 18.3% | 36.9% |
| Q1 26 | 16.2% | 35.0% | ||
| Q4 25 | 16.1% | 39.7% | ||
| Q3 25 | 13.5% | 30.3% | ||
| Q2 25 | 15.3% | 29.8% | ||
| Q1 25 | 14.4% | 32.2% | ||
| Q4 24 | 50.4% | 1.6% | ||
| Q3 24 | 16.0% | 3.2% | ||
| Q2 24 | 15.0% | 26.2% |
| Q1 26 | $1.18 | $5.45 | ||
| Q4 25 | $1.10 | $7.29 | ||
| Q3 25 | $0.93 | $4.90 | ||
| Q2 25 | $0.99 | $5.18 | ||
| Q1 25 | $0.86 | $5.35 | ||
| Q4 24 | $2.79 | $0.32 | ||
| Q3 24 | $0.90 | $0.52 | ||
| Q2 24 | $0.81 | $4.24 |
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 | $1.0B |
| Total DebtLower is stronger | — | $31.7M |
| Stockholders' EquityBook value | $470.2M | $1.1B |
| Total Assets | $580.6M | $2.6B |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | $1.0B | ||
| Q4 25 | $107.0M | $1.2B | ||
| Q3 25 | $76.1M | $987.9M | ||
| Q2 25 | $73.5M | $947.2M | ||
| Q1 25 | $56.9M | $754.5M | ||
| Q4 24 | $42.5M | $532.5M | ||
| Q3 24 | $62.4M | $518.8M | ||
| Q2 24 | $59.6M | $445.8M |
| Q1 26 | — | $31.7M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $470.2M | $1.1B | ||
| Q4 25 | $542.6M | $1.0B | ||
| Q3 25 | $498.9M | $821.8M | ||
| Q2 25 | $455.6M | $758.6M | ||
| Q1 25 | $462.1M | $522.7M | ||
| Q4 24 | $519.3M | $453.3M | ||
| Q3 24 | $412.8M | $455.3M | ||
| Q2 24 | $371.4M | $447.3M |
| Q1 26 | $580.6M | $2.6B | ||
| Q4 25 | $689.0M | $2.5B | ||
| Q3 25 | $640.5M | $2.3B | ||
| Q2 25 | $567.4M | $2.4B | ||
| Q1 25 | $564.7M | $2.3B | ||
| Q4 24 | $626.7M | $2.2B | ||
| Q3 24 | $523.3M | $2.0B | ||
| Q2 24 | $479.3M | $1.9B |
| Q1 26 | — | 0.03× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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 | — |
| 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 | $444.4M | ||
| Q3 25 | $86.0M | $26.7M | ||
| Q2 25 | $52.6M | $145.0M | ||
| Q1 25 | $38.5M | $162.0M | ||
| Q4 24 | $36.6M | $331.8M | ||
| Q3 24 | $57.8M | $104.1M | ||
| Q2 24 | $50.9M | $-29.0M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $440.8M | ||
| Q3 25 | $84.7M | $25.9M | ||
| Q2 25 | $52.4M | $144.5M | ||
| Q1 25 | $38.2M | $160.3M | ||
| Q4 24 | $36.4M | $327.8M | ||
| Q3 24 | $57.4M | $103.2M | ||
| Q2 24 | $50.8M | $-30.1M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 179.0% | ||
| Q3 25 | 34.0% | 12.0% | ||
| Q2 25 | 22.2% | 65.1% | ||
| Q1 25 | 17.6% | 74.1% | ||
| Q4 24 | 17.9% | 202.5% | ||
| Q3 24 | 27.9% | 58.9% | ||
| Q2 24 | 25.8% | -14.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 1.5% | ||
| Q3 25 | 0.5% | 0.4% | ||
| Q2 25 | 0.1% | 0.2% | ||
| Q1 25 | 0.1% | 0.8% | ||
| Q4 24 | 0.1% | 2.5% | ||
| Q3 24 | 0.2% | 0.5% | ||
| Q2 24 | 0.0% | 0.5% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 4.55× | ||
| Q3 25 | 2.56× | 0.41× | ||
| Q2 25 | 1.46× | 2.19× | ||
| Q1 25 | 1.23× | 2.32× | ||
| Q4 24 | 0.36× | 128.41× | ||
| Q3 24 | 1.75× | 18.33× | ||
| Q2 24 | 1.71× | -0.54× |
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% |
HCI
Segment breakdown not available.
