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Side-by-side financial comparison of APPFOLIO INC (APPF) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $186.9M, roughly 1.4× Limbach Holdings, Inc.). APPFOLIO INC runs the higher net margin — 16.2% vs 6.6%, a 9.6% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 20.4%). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% CAGR vs 15.3%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
APPF vs LMB — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $186.9M |
| Net Profit | $42.4M | $12.3M |
| Gross Margin | — | 25.7% |
| Operating Margin | 19.4% | 9.4% |
| Net Margin | 16.2% | 6.6% |
| Revenue YoY | 20.4% | 30.1% |
| Net Profit YoY | 35.2% | 25.0% |
| EPS (diluted) | $1.18 | $1.01 |
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 | $186.9M | ||
| Q3 25 | $249.4M | $184.6M | ||
| Q2 25 | $235.6M | $142.2M | ||
| Q1 25 | $217.7M | $133.1M | ||
| Q4 24 | $203.7M | $143.7M | ||
| Q3 24 | $205.7M | $133.9M | ||
| Q2 24 | $197.4M | $122.2M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $12.3M | ||
| Q3 25 | $33.6M | $8.8M | ||
| Q2 25 | $36.0M | $7.8M | ||
| Q1 25 | $31.4M | $10.2M | ||
| Q4 24 | $102.7M | $9.8M | ||
| Q3 24 | $33.0M | $7.5M | ||
| Q2 24 | $29.7M | $6.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 25.7% | ||
| Q3 25 | — | 24.2% | ||
| Q2 25 | — | 28.0% | ||
| Q1 25 | — | 27.6% | ||
| Q4 24 | — | 30.3% | ||
| Q3 24 | — | 27.0% | ||
| Q2 24 | — | 27.4% |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 9.4% | ||
| Q3 25 | 14.1% | 7.2% | ||
| Q2 25 | 17.2% | 7.5% | ||
| Q1 25 | 15.5% | 5.9% | ||
| Q4 24 | 11.3% | 9.1% | ||
| Q3 24 | 20.7% | 8.1% | ||
| Q2 24 | 18.3% | 6.7% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 6.6% | ||
| Q3 25 | 13.5% | 4.8% | ||
| Q2 25 | 15.3% | 5.5% | ||
| Q1 25 | 14.4% | 7.7% | ||
| Q4 24 | 50.4% | 6.9% | ||
| Q3 24 | 16.0% | 5.6% | ||
| Q2 24 | 15.0% | 4.9% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $1.01 | ||
| Q3 25 | $0.93 | $0.73 | ||
| Q2 25 | $0.99 | $0.64 | ||
| Q1 25 | $0.86 | $0.85 | ||
| Q4 24 | $2.79 | $0.81 | ||
| Q3 24 | $0.90 | $0.62 | ||
| Q2 24 | $0.81 | $0.50 |
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 | $11.3M |
| Total DebtLower is stronger | — | $30.5M |
| Stockholders' EquityBook value | $470.2M | $195.7M |
| Total Assets | $580.6M | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $11.3M | ||
| Q3 25 | $76.1M | $9.8M | ||
| Q2 25 | $73.5M | $38.9M | ||
| Q1 25 | $56.9M | $38.1M | ||
| Q4 24 | $42.5M | $44.9M | ||
| Q3 24 | $62.4M | $51.2M | ||
| Q2 24 | $59.6M | $59.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $30.5M | ||
| Q3 25 | — | $56.3M | ||
| Q2 25 | — | $28.4M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $23.6M | ||
| Q3 24 | — | $20.5M | ||
| Q2 24 | — | $19.7M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $195.7M | ||
| Q3 25 | $498.9M | $181.6M | ||
| Q2 25 | $455.6M | $170.5M | ||
| Q1 25 | $462.1M | $161.1M | ||
| Q4 24 | $519.3M | $153.5M | ||
| Q3 24 | $412.8M | $142.2M | ||
| Q2 24 | $371.4M | $133.0M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $381.1M | ||
| Q3 25 | $640.5M | $409.1M | ||
| Q2 25 | $567.4M | $343.0M | ||
| Q1 25 | $564.7M | $336.4M | ||
| Q4 24 | $626.7M | $352.1M | ||
| Q3 24 | $523.3M | $324.4M | ||
| Q2 24 | $479.3M | $303.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× |
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 | $28.1M |
| Free Cash FlowOCF − Capex | — | $27.9M |
| FCF MarginFCF / Revenue | — | 14.9% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 0.81× | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $28.1M | ||
| Q3 25 | $86.0M | $13.3M | ||
| Q2 25 | $52.6M | $2.0M | ||
| Q1 25 | $38.5M | $2.2M | ||
| Q4 24 | $36.6M | $19.3M | ||
| Q3 24 | $57.8M | $4.9M | ||
| Q2 24 | $50.9M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $27.9M | ||
| Q3 25 | $84.7M | $12.8M | ||
| Q2 25 | $52.4M | $1.2M | ||
| Q1 25 | $38.2M | $11.0K | ||
| Q4 24 | $36.4M | $18.0M | ||
| Q3 24 | $57.4M | $4.6M | ||
| Q2 24 | $50.8M | $13.2M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 14.9% | ||
| Q3 25 | 34.0% | 7.0% | ||
| Q2 25 | 22.2% | 0.8% | ||
| Q1 25 | 17.6% | 0.0% | ||
| Q4 24 | 17.9% | 12.5% | ||
| Q3 24 | 27.9% | 3.4% | ||
| Q2 24 | 25.8% | 10.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.1% | ||
| Q3 25 | 0.5% | 0.3% | ||
| Q2 25 | 0.1% | 0.6% | ||
| Q1 25 | 0.1% | 1.7% | ||
| Q4 24 | 0.1% | 0.9% | ||
| Q3 24 | 0.2% | 0.3% | ||
| Q2 24 | 0.0% | 2.7% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 2.29× | ||
| Q3 25 | 2.56× | 1.52× | ||
| Q2 25 | 1.46× | 0.26× | ||
| Q1 25 | 1.23× | 0.22× | ||
| Q4 24 | 0.36× | 1.96× | ||
| Q3 24 | 1.75× | 0.66× | ||
| Q2 24 | 1.71× | 2.77× |
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% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
