vs
Side-by-side financial comparison of APPFOLIO INC (APPF) and TANGER INC. (SKT). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $150.4M, roughly 1.7× TANGER INC.). TANGER INC. runs the higher net margin — 19.6% vs 16.2%, a 3.4% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 11.1%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 8.0%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Tanger Inc. is a real estate investment trust headquartered in Greensboro, North Carolina, that invests in open air outlet and lifestyle shopping centers in the United States and Canada.
APPF vs SKT — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $150.4M |
| Net Profit | $42.4M | $29.4M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | — |
| Net Margin | 16.2% | 19.6% |
| Revenue YoY | 20.4% | 11.1% |
| Net Profit YoY | 35.2% | 47.1% |
| EPS (diluted) | $1.18 | $1.05 |
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 | $150.4M | ||
| Q4 25 | $248.2M | $151.0M | ||
| Q3 25 | $249.4M | $145.2M | ||
| Q2 25 | $235.6M | $140.7M | ||
| Q1 25 | $217.7M | $135.4M | ||
| Q4 24 | $203.7M | $132.2M | ||
| Q3 24 | $205.7M | $133.0M | ||
| Q2 24 | $197.4M | $129.0M |
| Q1 26 | $42.4M | $29.4M | ||
| Q4 25 | $39.9M | — | ||
| Q3 25 | $33.6M | $32.0M | ||
| Q2 25 | $36.0M | $30.1M | ||
| Q1 25 | $31.4M | $19.2M | ||
| Q4 24 | $102.7M | — | ||
| Q3 24 | $33.0M | $24.9M | ||
| Q2 24 | $29.7M | $24.8M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | — | ||
| Q3 25 | 14.1% | 20.1% | ||
| Q2 25 | 17.2% | 20.1% | ||
| Q1 25 | 15.5% | 13.0% | ||
| Q4 24 | 11.3% | — | ||
| Q3 24 | 20.7% | 17.8% | ||
| Q2 24 | 18.3% | 17.8% |
| Q1 26 | 16.2% | 19.6% | ||
| Q4 25 | 16.1% | — | ||
| Q3 25 | 13.5% | 22.1% | ||
| Q2 25 | 15.3% | 21.4% | ||
| Q1 25 | 14.4% | 14.2% | ||
| Q4 24 | 50.4% | — | ||
| Q3 24 | 16.0% | 18.7% | ||
| Q2 24 | 15.0% | 19.3% |
| Q1 26 | $1.18 | $1.05 | ||
| Q4 25 | $1.10 | — | ||
| Q3 25 | $0.93 | $0.28 | ||
| Q2 25 | $0.99 | $0.26 | ||
| Q1 25 | $0.86 | $0.17 | ||
| Q4 24 | $2.79 | — | ||
| Q3 24 | $0.90 | $0.22 | ||
| Q2 24 | $0.81 | $0.22 |
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 | $227.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | $697.8M |
| Total Assets | $580.6M | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | $227.4M | ||
| Q4 25 | $107.0M | $18.1M | ||
| Q3 25 | $76.1M | $13.0M | ||
| Q2 25 | $73.5M | $9.7M | ||
| Q1 25 | $56.9M | $10.2M | ||
| Q4 24 | $42.5M | $47.0M | ||
| Q3 24 | $62.4M | $11.1M | ||
| Q2 24 | $59.6M | $11.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.5B |
| Q1 26 | $470.2M | $697.8M | ||
| Q4 25 | $542.6M | — | ||
| Q3 25 | $498.9M | $703.6M | ||
| Q2 25 | $455.6M | $635.2M | ||
| Q1 25 | $462.1M | $633.9M | ||
| Q4 24 | $519.3M | $652.4M | ||
| Q3 24 | $412.8M | $568.3M | ||
| Q2 24 | $371.4M | $553.7M |
| Q1 26 | $580.6M | $2.8B | ||
| Q4 25 | $689.0M | — | ||
| Q3 25 | $640.5M | $2.6B | ||
| Q2 25 | $567.4M | $2.5B | ||
| Q1 25 | $564.7M | $2.5B | ||
| Q4 24 | $626.7M | $2.4B | ||
| Q3 24 | $523.3M | $2.3B | ||
| Q2 24 | $479.3M | $2.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.29× | ||
| Q2 25 | — | 2.40× | ||
| Q1 25 | — | 2.47× | ||
| Q4 24 | — | 2.18× | ||
| Q3 24 | — | 2.51× | ||
| Q2 24 | — | 2.64× |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 6.6% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | — | ||
| Q3 25 | $86.0M | $74.3M | ||
| Q2 25 | $52.6M | $82.0M | ||
| Q1 25 | $38.5M | $41.4M | ||
| Q4 24 | $36.6M | — | ||
| Q3 24 | $57.8M | $65.2M | ||
| Q2 24 | $50.9M | $72.8M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | — | ||
| Q3 25 | $84.7M | — | ||
| Q2 25 | $52.4M | — | ||
| Q1 25 | $38.2M | — | ||
| Q4 24 | $36.4M | — | ||
| Q3 24 | $57.4M | — | ||
| Q2 24 | $50.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | — | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 22.2% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 27.9% | — | ||
| Q2 24 | 25.8% | — |
| Q1 26 | — | 6.6% | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.0% | — |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 2.56× | 2.32× | ||
| Q2 25 | 1.46× | 2.73× | ||
| Q1 25 | 1.23× | 2.16× | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | 2.62× | ||
| Q2 24 | 1.71× | 2.93× |
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% |
SKT
| Rental revenue | $143.5M | 95% |
| Other revenue | $4.7M | 3% |
| Management, leasing and other services | $2.2M | 1% |
