vs
Side-by-side financial comparison of APPFOLIO INC (APPF) and UDR, Inc. (UDR). Click either name above to swap in a different company.
UDR, Inc. is the larger business by last-quarter revenue ($425.8M vs $262.2M, roughly 1.6× APPFOLIO INC). UDR, Inc. runs the higher net margin — 44.6% vs 16.2%, a 28.4% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 0.9%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 1.3%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
UDR, Inc. is a leading U.S.-headquartered real estate investment trust specializing in owning, operating, and redeveloping high-quality multifamily residential apartment communities. It operates across major U.S. metropolitan markets, catering to a diverse tenant base including young professionals, families, and middle-to-high income households.
APPF vs UDR — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $425.8M |
| Net Profit | $42.4M | $189.8M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | 54.0% |
| Net Margin | 16.2% | 44.6% |
| Revenue YoY | 20.4% | 0.9% |
| Net Profit YoY | 35.2% | 147.2% |
| EPS (diluted) | $1.18 | $0.63 |
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 | $425.8M | ||
| Q4 25 | $248.2M | $433.1M | ||
| Q3 25 | $249.4M | $431.9M | ||
| Q2 25 | $235.6M | $425.4M | ||
| Q1 25 | $217.7M | $421.9M | ||
| Q4 24 | $203.7M | $422.7M | ||
| Q3 24 | $205.7M | $420.2M | ||
| Q2 24 | $197.4M | $415.3M |
| Q1 26 | $42.4M | $189.8M | ||
| Q4 25 | $39.9M | $222.9M | ||
| Q3 25 | $33.6M | $40.4M | ||
| Q2 25 | $36.0M | $37.7M | ||
| Q1 25 | $31.4M | $76.7M | ||
| Q4 24 | $102.7M | $-5.0M | ||
| Q3 24 | $33.0M | $22.6M | ||
| Q2 24 | $29.7M | $28.9M |
| Q1 26 | 19.4% | 54.0% | ||
| Q4 25 | 17.6% | 64.1% | ||
| Q3 25 | 14.1% | 17.7% | ||
| Q2 25 | 17.2% | 18.2% | ||
| Q1 25 | 15.5% | 29.0% | ||
| Q4 24 | 11.3% | 15.7% | ||
| Q3 24 | 20.7% | 16.6% | ||
| Q2 24 | 18.3% | 16.5% |
| Q1 26 | 16.2% | 44.6% | ||
| Q4 25 | 16.1% | 51.5% | ||
| Q3 25 | 13.5% | 9.4% | ||
| Q2 25 | 15.3% | 8.9% | ||
| Q1 25 | 14.4% | 18.2% | ||
| Q4 24 | 50.4% | -220.5% | ||
| Q3 24 | 16.0% | 5.4% | ||
| Q2 24 | 15.0% | 7.0% |
| Q1 26 | $1.18 | $0.63 | ||
| Q4 25 | $1.10 | $0.67 | ||
| Q3 25 | $0.93 | $0.12 | ||
| Q2 25 | $0.99 | $0.11 | ||
| Q1 25 | $0.86 | $0.23 | ||
| Q4 24 | $2.79 | $-0.01 | ||
| Q3 24 | $0.90 | $0.06 | ||
| Q2 24 | $0.81 | $0.08 |
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 | $1.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | $3.3B |
| Total Assets | $580.6M | $10.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | $1.3M | ||
| Q4 25 | $107.0M | $1.2M | ||
| Q3 25 | $76.1M | $1.2M | ||
| Q2 25 | $73.5M | $1.5M | ||
| Q1 25 | $56.9M | $1.3M | ||
| Q4 24 | $42.5M | $1.3M | ||
| Q3 24 | $62.4M | $2.3M | ||
| Q2 24 | $59.6M | $2.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $5.8B | ||
| Q3 25 | — | $5.8B | ||
| Q2 25 | — | $5.8B | ||
| Q1 25 | — | $5.8B | ||
| Q4 24 | — | $5.8B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $5.8B |
| Q1 26 | $470.2M | $3.3B | ||
| Q4 25 | $542.6M | $3.3B | ||
| Q3 25 | $498.9M | $3.3B | ||
| Q2 25 | $455.6M | $3.3B | ||
| Q1 25 | $462.1M | $3.3B | ||
| Q4 24 | $519.3M | $3.4B | ||
| Q3 24 | $412.8M | $3.5B | ||
| Q2 24 | $371.4M | $3.7B |
| Q1 26 | $580.6M | $10.3B | ||
| Q4 25 | $689.0M | $10.6B | ||
| Q3 25 | $640.5M | $10.6B | ||
| Q2 25 | $567.4M | $10.6B | ||
| Q1 25 | $564.7M | $10.7B | ||
| Q4 24 | $626.7M | $10.9B | ||
| Q3 24 | $523.3M | $11.1B | ||
| Q2 24 | $479.3M | $11.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | 1.78× | ||
| Q2 25 | — | 1.74× | ||
| Q1 25 | — | 1.74× | ||
| Q4 24 | — | 1.69× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 1.55× |
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 | — | 4.9% |
| 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 | $902.9M | ||
| Q3 25 | $86.0M | $234.9M | ||
| Q2 25 | $52.6M | $250.3M | ||
| Q1 25 | $38.5M | $156.2M | ||
| Q4 24 | $36.6M | $876.8M | ||
| Q3 24 | $57.8M | $230.3M | ||
| Q2 24 | $50.9M | $238.5M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $650.0M | ||
| Q3 25 | $84.7M | $164.6M | ||
| Q2 25 | $52.4M | $190.1M | ||
| Q1 25 | $38.2M | $103.2M | ||
| Q4 24 | $36.4M | $627.0M | ||
| Q3 24 | $57.4M | $161.3M | ||
| Q2 24 | $50.8M | $171.1M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 150.1% | ||
| Q3 25 | 34.0% | 38.1% | ||
| Q2 25 | 22.2% | 44.7% | ||
| Q1 25 | 17.6% | 24.5% | ||
| Q4 24 | 17.9% | 148.3% | ||
| Q3 24 | 27.9% | 38.4% | ||
| Q2 24 | 25.8% | 41.2% |
| Q1 26 | — | 4.9% | ||
| Q4 25 | 0.5% | 58.4% | ||
| Q3 25 | 0.5% | 16.3% | ||
| Q2 25 | 0.1% | 14.2% | ||
| Q1 25 | 0.1% | 12.6% | ||
| Q4 24 | 0.1% | 59.1% | ||
| Q3 24 | 0.2% | 16.4% | ||
| Q2 24 | 0.0% | 16.2% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 4.05× | ||
| Q3 25 | 2.56× | 5.81× | ||
| Q2 25 | 1.46× | 6.64× | ||
| Q1 25 | 1.23× | 2.04× | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | 10.19× | ||
| Q2 24 | 1.71× | 8.26× |
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% |
UDR
| Rental income | $423.3M | 99% |
| Joint venture management and other fees | $2.5M | 1% |
