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Side-by-side financial comparison of APPFOLIO INC (APPF) and Perella Weinberg Partners (PWP). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $219.2M, roughly 1.2× Perella Weinberg Partners). 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 -2.9%). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% 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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
APPF vs PWP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $219.2M |
| Net Profit | $42.4M | $13.8M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | 8.5% |
| Net Margin | 16.2% | 6.3% |
| Revenue YoY | 20.4% | -2.9% |
| Net Profit YoY | 35.2% | — |
| 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 | $219.2M | ||
| Q3 25 | $249.4M | $164.6M | ||
| Q2 25 | $235.6M | $155.3M | ||
| Q1 25 | $217.7M | $211.8M | ||
| Q4 24 | $203.7M | $225.7M | ||
| Q3 24 | $205.7M | $278.2M | ||
| Q2 24 | $197.4M | $272.0M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $13.8M | ||
| Q3 25 | $33.6M | $6.0M | ||
| Q2 25 | $36.0M | $2.7M | ||
| Q1 25 | $31.4M | $17.3M | ||
| Q4 24 | $102.7M | — | ||
| Q3 24 | $33.0M | $16.4M | ||
| Q2 24 | $29.7M | $-66.0M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 8.5% | ||
| Q3 25 | 14.1% | 5.4% | ||
| Q2 25 | 17.2% | 5.8% | ||
| Q1 25 | 15.5% | 5.5% | ||
| Q4 24 | 11.3% | — | ||
| Q3 24 | 20.7% | 12.9% | ||
| Q2 24 | 18.3% | -30.2% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 6.3% | ||
| Q3 25 | 13.5% | 3.6% | ||
| Q2 25 | 15.3% | 1.8% | ||
| Q1 25 | 14.4% | 8.2% | ||
| Q4 24 | 50.4% | — | ||
| Q3 24 | 16.0% | 5.9% | ||
| Q2 24 | 15.0% | -24.3% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.11 | ||
| Q3 25 | $0.93 | $0.08 | ||
| Q2 25 | $0.99 | $0.04 | ||
| Q1 25 | $0.86 | $0.24 | ||
| Q4 24 | $2.79 | — | ||
| Q3 24 | $0.90 | $0.24 | ||
| Q2 24 | $0.81 | $-1.21 |
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 | $255.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | $-127.4M |
| Total Assets | $580.6M | $797.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $255.9M | ||
| Q3 25 | $76.1M | $185.5M | ||
| Q2 25 | $73.5M | $145.0M | ||
| Q1 25 | $56.9M | $111.2M | ||
| Q4 24 | $42.5M | $407.4M | ||
| Q3 24 | $62.4M | $335.1M | ||
| Q2 24 | $59.6M | $185.3M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $-127.4M | ||
| Q3 25 | $498.9M | $-302.4M | ||
| Q2 25 | $455.6M | $-318.4M | ||
| Q1 25 | $462.1M | $-323.1M | ||
| Q4 24 | $519.3M | $-421.4M | ||
| Q3 24 | $412.8M | $-360.8M | ||
| Q2 24 | $371.4M | $-283.0M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $797.6M | ||
| Q3 25 | $640.5M | $650.2M | ||
| Q2 25 | $567.4M | $606.7M | ||
| Q1 25 | $564.7M | $570.5M | ||
| Q4 24 | $626.7M | $876.8M | ||
| Q3 24 | $523.3M | $810.9M | ||
| Q2 24 | $479.3M | $645.5M |
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 | $34.8M |
| Free Cash FlowOCF − Capex | — | $30.5M |
| FCF MarginFCF / Revenue | — | 13.9% |
| Capex IntensityCapex / Revenue | — | 2.0% |
| Cash ConversionOCF / Net Profit | 0.81× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $34.8M | ||
| Q3 25 | $86.0M | $59.2M | ||
| Q2 25 | $52.6M | $56.1M | ||
| Q1 25 | $38.5M | $-176.5M | ||
| Q4 24 | $36.6M | $223.4M | ||
| Q3 24 | $57.8M | $200.3M | ||
| Q2 24 | $50.9M | $90.0M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $30.5M | ||
| Q3 25 | $84.7M | $57.6M | ||
| Q2 25 | $52.4M | $55.3M | ||
| Q1 25 | $38.2M | $-177.6M | ||
| Q4 24 | $36.4M | $207.0M | ||
| Q3 24 | $57.4M | $199.3M | ||
| Q2 24 | $50.8M | $83.7M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 13.9% | ||
| Q3 25 | 34.0% | 35.0% | ||
| Q2 25 | 22.2% | 35.6% | ||
| Q1 25 | 17.6% | -83.8% | ||
| Q4 24 | 17.9% | 91.7% | ||
| Q3 24 | 27.9% | 71.6% | ||
| Q2 24 | 25.8% | 30.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.0% | ||
| Q3 25 | 0.5% | 0.9% | ||
| Q2 25 | 0.1% | 0.5% | ||
| Q1 25 | 0.1% | 0.5% | ||
| Q4 24 | 0.1% | 7.3% | ||
| Q3 24 | 0.2% | 0.4% | ||
| Q2 24 | 0.0% | 2.3% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 2.52× | ||
| Q3 25 | 2.56× | 9.85× | ||
| Q2 25 | 1.46× | 20.50× | ||
| Q1 25 | 1.23× | -10.18× | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | 12.23× | ||
| Q2 24 | 1.71× | — |
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% |
PWP
Segment breakdown not available.
