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Side-by-side financial comparison of APPFOLIO INC (APPF) and Grand Canyon Education, Inc. (LOPE). Click either name above to swap in a different company.
Grand Canyon Education, Inc. is the larger business by last-quarter revenue ($308.1M vs $262.2M, roughly 1.2× APPFOLIO INC). Grand Canyon Education, Inc. runs the higher net margin — 28.1% vs 16.2%, a 12.0% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 5.3%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 5.9%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Grand Canyon Education, Inc. (GCE) is an American for-profit corporation that provides services to universities, specializing in program development, online education, and operational support. Formerly affiliated with Grand Canyon University (GCU), a Christian university in Arizona, GCE became a separate publicly traded company in 2008.
APPF vs LOPE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $308.1M |
| Net Profit | $42.4M | $86.7M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | 35.1% |
| Net Margin | 16.2% | 28.1% |
| Revenue YoY | 20.4% | 5.3% |
| Net Profit YoY | 35.2% | 5.9% |
| EPS (diluted) | $1.18 | $3.13 |
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 | $308.1M | ||
| Q3 25 | $249.4M | $261.1M | ||
| Q2 25 | $235.6M | $247.5M | ||
| Q1 25 | $217.7M | $289.3M | ||
| Q4 24 | $203.7M | $292.6M | ||
| Q3 24 | $205.7M | $238.3M | ||
| Q2 24 | $197.4M | $227.5M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $86.7M | ||
| Q3 25 | $33.6M | $16.3M | ||
| Q2 25 | $36.0M | $41.5M | ||
| Q1 25 | $31.4M | $71.6M | ||
| Q4 24 | $102.7M | $81.9M | ||
| Q3 24 | $33.0M | $41.5M | ||
| Q2 24 | $29.7M | $34.9M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 35.1% | ||
| Q3 25 | 14.1% | 6.9% | ||
| Q2 25 | 17.2% | 20.9% | ||
| Q1 25 | 15.5% | 30.4% | ||
| Q4 24 | 11.3% | 34.2% | ||
| Q3 24 | 20.7% | 20.2% | ||
| Q2 24 | 18.3% | 18.8% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 28.1% | ||
| Q3 25 | 13.5% | 6.2% | ||
| Q2 25 | 15.3% | 16.8% | ||
| Q1 25 | 14.4% | 24.8% | ||
| Q4 24 | 50.4% | 28.0% | ||
| Q3 24 | 16.0% | 17.4% | ||
| Q2 24 | 15.0% | 15.3% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $3.13 | ||
| Q3 25 | $0.93 | $0.58 | ||
| Q2 25 | $0.99 | $1.48 | ||
| Q1 25 | $0.86 | $2.52 | ||
| Q4 24 | $2.79 | $2.83 | ||
| Q3 24 | $0.90 | $1.42 | ||
| Q2 24 | $0.81 | $1.19 |
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 | $111.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | $746.9M |
| Total Assets | $580.6M | $992.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $111.8M | ||
| Q3 25 | $76.1M | $97.3M | ||
| Q2 25 | $73.5M | $192.3M | ||
| Q1 25 | $56.9M | $144.5M | ||
| Q4 24 | $42.5M | $324.6M | ||
| Q3 24 | $62.4M | $263.6M | ||
| Q2 24 | $59.6M | $241.3M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $746.9M | ||
| Q3 25 | $498.9M | $758.0M | ||
| Q2 25 | $455.6M | $778.0M | ||
| Q1 25 | $462.1M | $780.7M | ||
| Q4 24 | $519.3M | $783.9M | ||
| Q3 24 | $412.8M | $764.1M | ||
| Q2 24 | $371.4M | $759.2M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $992.3M | ||
| Q3 25 | $640.5M | $1.0B | ||
| Q2 25 | $567.4M | $1.0B | ||
| Q1 25 | $564.7M | $1.0B | ||
| Q4 24 | $626.7M | $1.0B | ||
| Q3 24 | $523.3M | $992.9M | ||
| Q2 24 | $479.3M | $992.7M |
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 | $130.5M |
| Free Cash FlowOCF − Capex | — | $122.9M |
| FCF MarginFCF / Revenue | — | 39.9% |
| Capex IntensityCapex / Revenue | — | 2.5% |
| Cash ConversionOCF / Net Profit | 0.81× | 1.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $238.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $130.5M | ||
| Q3 25 | $86.0M | $-48.6M | ||
| Q2 25 | $52.6M | $124.0M | ||
| Q1 25 | $38.5M | $67.6M | ||
| Q4 24 | $36.6M | $135.8M | ||
| Q3 24 | $57.8M | $-29.4M | ||
| Q2 24 | $50.9M | $98.6M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $122.9M | ||
| Q3 25 | $84.7M | $-58.3M | ||
| Q2 25 | $52.4M | $115.4M | ||
| Q1 25 | $38.2M | $58.7M | ||
| Q4 24 | $36.4M | $126.1M | ||
| Q3 24 | $57.4M | $-39.0M | ||
| Q2 24 | $50.8M | $89.6M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 39.9% | ||
| Q3 25 | 34.0% | -22.3% | ||
| Q2 25 | 22.2% | 46.6% | ||
| Q1 25 | 17.6% | 20.3% | ||
| Q4 24 | 17.9% | 43.1% | ||
| Q3 24 | 27.9% | -16.3% | ||
| Q2 24 | 25.8% | 39.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.5% | ||
| Q3 25 | 0.5% | 3.7% | ||
| Q2 25 | 0.1% | 3.5% | ||
| Q1 25 | 0.1% | 3.1% | ||
| Q4 24 | 0.1% | 3.3% | ||
| Q3 24 | 0.2% | 4.0% | ||
| Q2 24 | 0.0% | 3.9% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 1.50× | ||
| Q3 25 | 2.56× | -2.99× | ||
| Q2 25 | 1.46× | 2.98× | ||
| Q1 25 | 1.23× | 0.94× | ||
| Q4 24 | 0.36× | 1.66× | ||
| Q3 24 | 1.75× | -0.71× | ||
| Q2 24 | 1.71× | 2.83× |
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% |
LOPE
Segment breakdown not available.
