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Side-by-side financial comparison of APPFOLIO INC (APPF) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Natural Grocers by Vitamin Cottage, Inc. is the larger business by last-quarter revenue ($335.6M vs $262.2M, roughly 1.3× APPFOLIO INC). APPFOLIO INC runs the higher net margin — 16.2% vs 3.4%, a 12.8% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 1.6%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 4.4%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Natural Grocers by Vitamin Cottage, Inc. is a U.S.-based specialty retail chain that offers certified organic groceries, dietary supplements, natural personal care items, and eco-friendly household products. It serves health-conscious consumers across multiple U.S. states, following strict quality standards that exclude artificial preservatives, colors, flavors and harmful additives.
APPF vs NGVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $335.6M |
| Net Profit | $42.4M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | 19.4% | 4.4% |
| Net Margin | 16.2% | 3.4% |
| Revenue YoY | 20.4% | 1.6% |
| Net Profit YoY | 35.2% | 14.0% |
| EPS (diluted) | $1.18 | $0.49 |
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 | $335.6M | ||
| Q3 25 | $249.4M | $336.1M | ||
| Q2 25 | $235.6M | $328.7M | ||
| Q1 25 | $217.7M | $335.8M | ||
| Q4 24 | $203.7M | $330.2M | ||
| Q3 24 | $205.7M | $322.7M | ||
| Q2 24 | $197.4M | $309.1M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $11.3M | ||
| Q3 25 | $33.6M | $11.8M | ||
| Q2 25 | $36.0M | $11.6M | ||
| Q1 25 | $31.4M | $13.1M | ||
| Q4 24 | $102.7M | $9.9M | ||
| Q3 24 | $33.0M | $9.0M | ||
| Q2 24 | $29.7M | $9.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 29.5% | ||
| Q2 25 | — | 29.9% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 29.2% |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 4.4% | ||
| Q3 25 | 14.1% | 4.6% | ||
| Q2 25 | 17.2% | 4.7% | ||
| Q1 25 | 15.5% | 5.2% | ||
| Q4 24 | 11.3% | 4.0% | ||
| Q3 24 | 20.7% | 3.7% | ||
| Q2 24 | 18.3% | 4.2% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 3.4% | ||
| Q3 25 | 13.5% | 3.5% | ||
| Q2 25 | 15.3% | 3.5% | ||
| Q1 25 | 14.4% | 3.9% | ||
| Q4 24 | 50.4% | 3.0% | ||
| Q3 24 | 16.0% | 2.8% | ||
| Q2 24 | 15.0% | 3.0% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.49 | ||
| Q3 25 | $0.93 | $0.51 | ||
| Q2 25 | $0.99 | $0.50 | ||
| Q1 25 | $0.86 | $0.56 | ||
| Q4 24 | $2.79 | $0.43 | ||
| Q3 24 | $0.90 | $0.38 | ||
| Q2 24 | $0.81 | $0.40 |
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 | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | $220.0M |
| Total Assets | $580.6M | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $23.2M | ||
| Q3 25 | $76.1M | $17.1M | ||
| Q2 25 | $73.5M | $13.2M | ||
| Q1 25 | $56.9M | $21.2M | ||
| Q4 24 | $42.5M | $6.3M | ||
| Q3 24 | $62.4M | $8.9M | ||
| Q2 24 | $59.6M | $13.9M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $220.0M | ||
| Q3 25 | $498.9M | $212.4M | ||
| Q2 25 | $455.6M | $202.5M | ||
| Q1 25 | $462.1M | $193.0M | ||
| Q4 24 | $519.3M | $181.9M | ||
| Q3 24 | $412.8M | $174.3M | ||
| Q2 24 | $371.4M | $167.8M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $668.6M | ||
| Q3 25 | $640.5M | $670.5M | ||
| Q2 25 | $567.4M | $659.0M | ||
| Q1 25 | $564.7M | $664.6M | ||
| Q4 24 | $626.7M | $648.9M | ||
| Q3 24 | $523.3M | $655.5M | ||
| Q2 24 | $479.3M | $654.4M |
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 | $21.1M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | 0.81× | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $21.1M | ||
| Q3 25 | $86.0M | $15.6M | ||
| Q2 25 | $52.6M | $2.9M | ||
| Q1 25 | $38.5M | $34.1M | ||
| Q4 24 | $36.6M | $2.7M | ||
| Q3 24 | $57.8M | $24.5M | ||
| Q2 24 | $50.9M | $12.4M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $11.6M | ||
| Q3 25 | $84.7M | $7.5M | ||
| Q2 25 | $52.4M | $-4.2M | ||
| Q1 25 | $38.2M | $27.6M | ||
| Q4 24 | $36.4M | $-6.9M | ||
| Q3 24 | $57.4M | $18.0M | ||
| Q2 24 | $50.8M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 3.4% | ||
| Q3 25 | 34.0% | 2.2% | ||
| Q2 25 | 22.2% | -1.3% | ||
| Q1 25 | 17.6% | 8.2% | ||
| Q4 24 | 17.9% | -2.1% | ||
| Q3 24 | 27.9% | 5.6% | ||
| Q2 24 | 25.8% | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.9% | ||
| Q3 25 | 0.5% | 2.4% | ||
| Q2 25 | 0.1% | 2.2% | ||
| Q1 25 | 0.1% | 1.9% | ||
| Q4 24 | 0.1% | 2.9% | ||
| Q3 24 | 0.2% | 2.0% | ||
| Q2 24 | 0.0% | 2.9% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 1.86× | ||
| Q3 25 | 2.56× | 1.32× | ||
| Q2 25 | 1.46× | 0.25× | ||
| Q1 25 | 1.23× | 2.60× | ||
| Q4 24 | 0.36× | 0.27× | ||
| Q3 24 | 1.75× | 2.72× | ||
| Q2 24 | 1.71× | 1.35× |
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% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
