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Side-by-side financial comparison of APPFOLIO INC (APPF) and KILROY REALTY CORP (KRC). Click either name above to swap in a different company.
KILROY REALTY CORP is the larger business by last-quarter revenue ($272.2M vs $262.2M, roughly 1.0× APPFOLIO INC). APPFOLIO INC runs the higher net margin — 16.2% vs 6.3%, a 9.9% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs -5.0%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs -1.2%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Kilroy Realty Corp is a leading U.S. real estate investment trust that develops, owns, and operates premium office, life science, and mixed-use properties primarily across high-growth West Coast markets including Los Angeles, San Francisco, Seattle, and San Diego. It serves tenants across the technology, life sciences, media, and creative sectors, with a core focus on delivering sustainable, future-ready workspaces tailored to modern business needs.
APPF vs KRC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $272.2M |
| Net Profit | $42.4M | $17.1M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | — |
| Net Margin | 16.2% | 6.3% |
| Revenue YoY | 20.4% | -5.0% |
| Net Profit YoY | 35.2% | -73.7% |
| EPS (diluted) | $1.18 | $0.11 |
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 | $272.2M | ||
| Q3 25 | $249.4M | $279.7M | ||
| Q2 25 | $235.6M | $289.9M | ||
| Q1 25 | $217.7M | $270.8M | ||
| Q4 24 | $203.7M | $286.4M | ||
| Q3 24 | $205.7M | $289.9M | ||
| Q2 24 | $197.4M | $280.7M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $17.1M | ||
| Q3 25 | $33.6M | $162.3M | ||
| Q2 25 | $36.0M | $79.6M | ||
| Q1 25 | $31.4M | $43.7M | ||
| Q4 24 | $102.7M | $65.0M | ||
| Q3 24 | $33.0M | $57.7M | ||
| Q2 24 | $29.7M | $54.5M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | — | ||
| Q3 25 | 14.1% | — | ||
| Q2 25 | 17.2% | — | ||
| Q1 25 | 15.5% | — | ||
| Q4 24 | 11.3% | — | ||
| Q3 24 | 20.7% | — | ||
| Q2 24 | 18.3% | — |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 6.3% | ||
| Q3 25 | 13.5% | 58.0% | ||
| Q2 25 | 15.3% | 27.4% | ||
| Q1 25 | 14.4% | 16.1% | ||
| Q4 24 | 50.4% | 22.7% | ||
| Q3 24 | 16.0% | 19.9% | ||
| Q2 24 | 15.0% | 19.4% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.11 | ||
| Q3 25 | $0.93 | $1.31 | ||
| Q2 25 | $0.99 | $0.57 | ||
| Q1 25 | $0.86 | $0.33 | ||
| Q4 24 | $2.79 | $0.50 | ||
| Q3 24 | $0.90 | $0.44 | ||
| Q2 24 | $0.81 | $0.41 |
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 | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | $5.4B |
| Total Assets | $580.6M | $10.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $179.3M | ||
| Q3 25 | $76.1M | $372.4M | ||
| Q2 25 | $73.5M | $193.1M | ||
| Q1 25 | $56.9M | $146.7M | ||
| Q4 24 | $42.5M | $165.7M | ||
| Q3 24 | $62.4M | $625.4M | ||
| Q2 24 | $59.6M | $835.9M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $5.4B | ||
| Q3 25 | $498.9M | $5.5B | ||
| Q2 25 | $455.6M | $5.4B | ||
| Q1 25 | $462.1M | $5.4B | ||
| Q4 24 | $519.3M | $5.4B | ||
| Q3 24 | $412.8M | $5.4B | ||
| Q2 24 | $371.4M | $5.4B |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $10.9B | ||
| Q3 25 | $640.5M | $11.0B | ||
| Q2 25 | $567.4M | $10.9B | ||
| Q1 25 | $564.7M | $10.9B | ||
| Q4 24 | $626.7M | $10.9B | ||
| Q3 24 | $523.3M | $11.4B | ||
| Q2 24 | $479.3M | $11.5B |
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 | $566.3M |
| Free Cash FlowOCF − Capex | — | $450.3M |
| FCF MarginFCF / Revenue | — | 165.4% |
| Capex IntensityCapex / Revenue | — | 42.6% |
| Cash ConversionOCF / Net Profit | 0.81× | 33.10× |
| TTM Free Cash FlowTrailing 4 quarters | — | $833.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $566.3M | ||
| Q3 25 | $86.0M | $176.6M | ||
| Q2 25 | $52.6M | $143.7M | ||
| Q1 25 | $38.5M | $136.9M | ||
| Q4 24 | $36.6M | $541.1M | ||
| Q3 24 | $57.8M | $176.3M | ||
| Q2 24 | $50.9M | $88.7M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $450.3M | ||
| Q3 25 | $84.7M | $148.7M | ||
| Q2 25 | $52.4M | $118.4M | ||
| Q1 25 | $38.2M | $115.6M | ||
| Q4 24 | $36.4M | $440.8M | ||
| Q3 24 | $57.4M | $147.2M | ||
| Q2 24 | $50.8M | $69.5M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 165.4% | ||
| Q3 25 | 34.0% | 53.1% | ||
| Q2 25 | 22.2% | 40.9% | ||
| Q1 25 | 17.6% | 42.7% | ||
| Q4 24 | 17.9% | 153.9% | ||
| Q3 24 | 27.9% | 50.8% | ||
| Q2 24 | 25.8% | 24.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 42.6% | ||
| Q3 25 | 0.5% | 10.0% | ||
| Q2 25 | 0.1% | 8.7% | ||
| Q1 25 | 0.1% | 7.9% | ||
| Q4 24 | 0.1% | 35.0% | ||
| Q3 24 | 0.2% | 10.1% | ||
| Q2 24 | 0.0% | 6.8% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 33.10× | ||
| Q3 25 | 2.56× | 1.09× | ||
| Q2 25 | 1.46× | 1.81× | ||
| Q1 25 | 1.23× | 3.13× | ||
| Q4 24 | 0.36× | 8.32× | ||
| Q3 24 | 1.75× | 3.06× | ||
| Q2 24 | 1.71× | 1.63× |
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% |
KRC
Segment breakdown not available.
