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Side-by-side financial comparison of APPFOLIO INC (APPF) and Hilltop Holdings Inc. (HTH). Click either name above to swap in a different company.
Hilltop Holdings Inc. is the larger business by last-quarter revenue ($300.5M vs $262.2M, roughly 1.1× APPFOLIO INC). APPFOLIO INC runs the higher net margin — 16.2% vs 13.0%, a 3.2% gap on every dollar of revenue. Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 0.6%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Hilltop Holdings Inc. is a financial holding company based in Dallas, Texas. It offers financial products and banking services through three primary subsidiaries: PlainsCapital Bank, PrimeLending, and HilltopSecurities.
APPF vs HTH — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $300.5M |
| Net Profit | $42.4M | $39.0M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | — |
| Net Margin | 16.2% | 13.0% |
| Revenue YoY | 20.4% | — |
| Net Profit YoY | 35.2% | -12.4% |
| EPS (diluted) | $1.18 | $0.64 |
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 | $300.5M | ||
| Q4 25 | $248.2M | $329.9M | ||
| Q3 25 | $249.4M | $330.2M | ||
| Q2 25 | $235.6M | $303.3M | ||
| Q1 25 | $217.7M | $318.5M | ||
| Q4 24 | $203.7M | $301.1M | ||
| Q3 24 | $205.7M | $305.5M | ||
| Q2 24 | $197.4M | $297.0M |
| Q1 26 | $42.4M | $39.0M | ||
| Q4 25 | $39.9M | $41.6M | ||
| Q3 25 | $33.6M | $45.8M | ||
| Q2 25 | $36.0M | $36.1M | ||
| Q1 25 | $31.4M | $42.1M | ||
| Q4 24 | $102.7M | $35.5M | ||
| Q3 24 | $33.0M | $29.7M | ||
| Q2 24 | $29.7M | $20.3M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 16.1% | ||
| Q3 25 | 14.1% | 18.4% | ||
| Q2 25 | 17.2% | 16.3% | ||
| Q1 25 | 15.5% | 18.1% | ||
| Q4 24 | 11.3% | 14.7% | ||
| Q3 24 | 20.7% | 13.9% | ||
| Q2 24 | 18.3% | 10.0% |
| Q1 26 | 16.2% | 13.0% | ||
| Q4 25 | 16.1% | 12.6% | ||
| Q3 25 | 13.5% | 13.9% | ||
| Q2 25 | 15.3% | 11.9% | ||
| Q1 25 | 14.4% | 13.2% | ||
| Q4 24 | 50.4% | 11.8% | ||
| Q3 24 | 16.0% | 9.7% | ||
| Q2 24 | 15.0% | 6.8% |
| Q1 26 | $1.18 | $0.64 | ||
| Q4 25 | $1.10 | $0.68 | ||
| Q3 25 | $0.93 | $0.74 | ||
| Q2 25 | $0.99 | $0.57 | ||
| Q1 25 | $0.86 | $0.65 | ||
| Q4 24 | $2.79 | $0.55 | ||
| Q3 24 | $0.90 | $0.46 | ||
| Q2 24 | $0.81 | $0.31 |
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 | — | $990.8M |
| Stockholders' EquityBook value | $470.2M | $2.2B |
| Total Assets | $580.6M | $15.7B |
| Debt / EquityLower = less leverage | — | 0.46× |
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 | — | $990.8M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $470.2M | $2.2B | ||
| Q4 25 | $542.6M | $2.2B | ||
| Q3 25 | $498.9M | $2.2B | ||
| Q2 25 | $455.6M | $2.2B | ||
| Q1 25 | $462.1M | $2.2B | ||
| Q4 24 | $519.3M | $2.2B | ||
| Q3 24 | $412.8M | $2.2B | ||
| Q2 24 | $371.4M | $2.1B |
| Q1 26 | $580.6M | $15.7B | ||
| Q4 25 | $689.0M | $15.8B | ||
| Q3 25 | $640.5M | $15.6B | ||
| Q2 25 | $567.4M | $15.4B | ||
| Q1 25 | $564.7M | $15.8B | ||
| Q4 24 | $626.7M | $16.3B | ||
| Q3 24 | $523.3M | $15.9B | ||
| Q2 24 | $479.3M | $15.6B |
| Q1 26 | — | 0.46× | ||
| 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 | $-38.7M | ||
| Q3 25 | $86.0M | $273.0M | ||
| Q2 25 | $52.6M | $-234.6M | ||
| Q1 25 | $38.5M | $5.8M | ||
| Q4 24 | $36.6M | $273.9M | ||
| Q3 24 | $57.8M | $515.6M | ||
| Q2 24 | $50.9M | $-435.3M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-55.5M | ||
| Q3 25 | $84.7M | $271.0M | ||
| Q2 25 | $52.4M | $-234.6M | ||
| Q1 25 | $38.2M | $5.0M | ||
| Q4 24 | $36.4M | $266.8M | ||
| Q3 24 | $57.4M | $513.8M | ||
| Q2 24 | $50.8M | $-437.3M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -16.8% | ||
| Q3 25 | 34.0% | 82.1% | ||
| Q2 25 | 22.2% | -77.4% | ||
| Q1 25 | 17.6% | 1.6% | ||
| Q4 24 | 17.9% | 88.6% | ||
| Q3 24 | 27.9% | 168.2% | ||
| Q2 24 | 25.8% | -147.2% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 5.1% | ||
| Q3 25 | 0.5% | 0.6% | ||
| Q2 25 | 0.1% | 0.0% | ||
| Q1 25 | 0.1% | 0.3% | ||
| Q4 24 | 0.1% | 2.4% | ||
| Q3 24 | 0.2% | 0.6% | ||
| Q2 24 | 0.0% | 0.7% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | -0.93× | ||
| Q3 25 | 2.56× | 5.96× | ||
| Q2 25 | 1.46× | -6.50× | ||
| Q1 25 | 1.23× | 0.14× | ||
| Q4 24 | 0.36× | 7.71× | ||
| Q3 24 | 1.75× | 17.36× | ||
| Q2 24 | 1.71× | -21.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APPF
| Value Added Services | $164.7M | 63% |
| Subscription Services | $58.2M | 22% |
| Other | $39.3M | 15% |
HTH
| Noninterest Income | $188.4M | 63% |
| Net Interest Income | $112.1M | 37% |
