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Side-by-side financial comparison of APPFOLIO INC (APPF) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $207.0M, roughly 1.3× ONE Group Hospitality, Inc.). APPFOLIO INC runs the higher net margin — 16.2% vs -3.1%, a 19.3% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs -6.7%). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
APPF vs STKS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $207.0M |
| Net Profit | $42.4M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | 2.2% |
| Net Margin | 16.2% | -3.1% |
| Revenue YoY | 20.4% | -6.7% |
| Net Profit YoY | 35.2% | -531.8% |
| EPS (diluted) | $1.18 | $-0.50 |
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 | $207.0M | ||
| Q3 25 | $249.4M | $180.2M | ||
| Q2 25 | $235.6M | $207.4M | ||
| Q1 25 | $217.7M | $211.1M | ||
| Q4 24 | $203.7M | $221.9M | ||
| Q3 24 | $205.7M | $194.0M | ||
| Q2 24 | $197.4M | $172.5M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $-6.4M | ||
| Q3 25 | $33.6M | $-76.7M | ||
| Q2 25 | $36.0M | $-10.1M | ||
| Q1 25 | $31.4M | $975.0K | ||
| Q4 24 | $102.7M | $1.5M | ||
| Q3 24 | $33.0M | $-9.3M | ||
| Q2 24 | $29.7M | $-7.3M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 2.2% | ||
| Q3 25 | 14.1% | -4.4% | ||
| Q2 25 | 17.2% | 0.3% | ||
| Q1 25 | 15.5% | 5.1% | ||
| Q4 24 | 11.3% | 5.5% | ||
| Q3 24 | 20.7% | -1.9% | ||
| Q2 24 | 18.3% | 0.6% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | -3.1% | ||
| Q3 25 | 13.5% | -42.6% | ||
| Q2 25 | 15.3% | -4.9% | ||
| Q1 25 | 14.4% | 0.5% | ||
| Q4 24 | 50.4% | 0.7% | ||
| Q3 24 | 16.0% | -4.8% | ||
| Q2 24 | 15.0% | -4.3% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $-0.50 | ||
| Q3 25 | $0.93 | $-2.75 | ||
| Q2 25 | $0.99 | $-0.59 | ||
| Q1 25 | $0.86 | $-0.21 | ||
| Q4 24 | $2.79 | $-0.18 | ||
| Q3 24 | $0.90 | $-0.53 | ||
| Q2 24 | $0.81 | $-0.38 |
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 | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $470.2M | $-75.8M |
| Total Assets | $580.6M | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $4.2M | ||
| Q3 25 | $76.1M | $5.5M | ||
| Q2 25 | $73.5M | $4.7M | ||
| Q1 25 | $56.9M | $21.4M | ||
| Q4 24 | $42.5M | $27.6M | ||
| Q3 24 | $62.4M | $28.2M | ||
| Q2 24 | $59.6M | $32.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $354.2M | ||
| Q3 25 | — | $355.0M | ||
| Q2 25 | — | $347.4M | ||
| Q1 25 | — | $348.3M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $-75.8M | ||
| Q3 25 | $498.9M | $-61.5M | ||
| Q2 25 | $455.6M | $23.0M | ||
| Q1 25 | $462.1M | $40.5M | ||
| Q4 24 | $519.3M | $45.9M | ||
| Q3 24 | $412.8M | $51.4M | ||
| Q2 24 | $371.4M | $68.1M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $884.2M | ||
| Q3 25 | $640.5M | $879.5M | ||
| Q2 25 | $567.4M | $935.7M | ||
| Q1 25 | $564.7M | $956.0M | ||
| Q4 24 | $626.7M | $960.1M | ||
| Q3 24 | $523.3M | $953.5M | ||
| Q2 24 | $479.3M | $945.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.07× | ||
| Q1 25 | — | 8.61× | ||
| Q4 24 | — | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | — | $-329.0K |
| FCF MarginFCF / Revenue | — | -0.2% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $13.1M | ||
| Q3 25 | $86.0M | $5.9M | ||
| Q2 25 | $52.6M | $2.8M | ||
| Q1 25 | $38.5M | $8.5M | ||
| Q4 24 | $36.6M | $18.5M | ||
| Q3 24 | $57.8M | $19.1M | ||
| Q2 24 | $50.9M | $-3.8M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-329.0K | ||
| Q3 25 | $84.7M | $-6.1M | ||
| Q2 25 | $52.4M | $-15.0M | ||
| Q1 25 | $38.2M | $-5.8M | ||
| Q4 24 | $36.4M | $733.0K | ||
| Q3 24 | $57.4M | $287.0K | ||
| Q2 24 | $50.8M | $-23.0M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -0.2% | ||
| Q3 25 | 34.0% | -3.4% | ||
| Q2 25 | 22.2% | -7.2% | ||
| Q1 25 | 17.6% | -2.7% | ||
| Q4 24 | 17.9% | 0.3% | ||
| Q3 24 | 27.9% | 0.1% | ||
| Q2 24 | 25.8% | -13.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 6.5% | ||
| Q3 25 | 0.5% | 6.7% | ||
| Q2 25 | 0.1% | 8.6% | ||
| Q1 25 | 0.1% | 6.8% | ||
| Q4 24 | 0.1% | 8.0% | ||
| Q3 24 | 0.2% | 9.7% | ||
| Q2 24 | 0.0% | 11.1% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 2.56× | — | ||
| Q2 25 | 1.46× | — | ||
| Q1 25 | 1.23× | 8.76× | ||
| Q4 24 | 0.36× | 12.54× | ||
| Q3 24 | 1.75× | — | ||
| 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% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
