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Side-by-side financial comparison of APPFOLIO INC (APPF) and Wingstop Inc. (WING). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $183.7M, roughly 1.4× Wingstop Inc.). Wingstop Inc. runs the higher net margin — 16.3% vs 16.2%, a 0.1% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 7.4%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 8.6%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Wingstop Inc. is an American international fast food chain that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme.
APPF vs WING — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $183.7M |
| Net Profit | $42.4M | $29.9M |
| Gross Margin | — | 86.5% |
| Operating Margin | 19.4% | 27.4% |
| Net Margin | 16.2% | 16.3% |
| Revenue YoY | 20.4% | 7.4% |
| Net Profit YoY | 35.2% | — |
| EPS (diluted) | $1.18 | $1.08 |
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 | $183.7M | ||
| Q4 25 | $248.2M | $175.7M | ||
| Q3 25 | $249.4M | $175.7M | ||
| Q2 25 | $235.6M | $174.3M | ||
| Q1 25 | $217.7M | $171.1M | ||
| Q4 24 | $203.7M | $161.8M | ||
| Q3 24 | $205.7M | $162.5M | ||
| Q2 24 | $197.4M | $155.7M |
| Q1 26 | $42.4M | $29.9M | ||
| Q4 25 | $39.9M | $26.8M | ||
| Q3 25 | $33.6M | $28.5M | ||
| Q2 25 | $36.0M | $26.8M | ||
| Q1 25 | $31.4M | $92.3M | ||
| Q4 24 | $102.7M | $26.8M | ||
| Q3 24 | $33.0M | $25.7M | ||
| Q2 24 | $29.7M | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 85.6% | ||
| Q3 24 | — | 85.0% | ||
| Q2 24 | — | 85.4% |
| Q1 26 | 19.4% | 27.4% | ||
| Q4 25 | 17.6% | 26.7% | ||
| Q3 25 | 14.1% | 27.9% | ||
| Q2 25 | 17.2% | 25.9% | ||
| Q1 25 | 15.5% | 22.4% | ||
| Q4 24 | 11.3% | 25.9% | ||
| Q3 24 | 20.7% | 24.5% | ||
| Q2 24 | 18.3% | 26.5% |
| Q1 26 | 16.2% | 16.3% | ||
| Q4 25 | 16.1% | 15.2% | ||
| Q3 25 | 13.5% | 16.2% | ||
| Q2 25 | 15.3% | 15.4% | ||
| Q1 25 | 14.4% | 53.9% | ||
| Q4 24 | 50.4% | 16.5% | ||
| Q3 24 | 16.0% | 15.8% | ||
| Q2 24 | 15.0% | 17.7% |
| Q1 26 | $1.18 | $1.08 | ||
| Q4 25 | $1.10 | $0.99 | ||
| Q3 25 | $0.93 | $1.02 | ||
| Q2 25 | $0.99 | $0.96 | ||
| Q1 25 | $0.86 | $3.24 | ||
| Q4 24 | $2.79 | $0.91 | ||
| Q3 24 | $0.90 | $0.88 | ||
| Q2 24 | $0.81 | $0.93 |
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 | $128.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $470.2M | — |
| Total Assets | $580.6M | $648.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | $128.8M | ||
| Q4 25 | $107.0M | $196.6M | ||
| Q3 25 | $76.1M | $237.6M | ||
| Q2 25 | $73.5M | $227.9M | ||
| Q1 25 | $56.9M | $251.4M | ||
| Q4 24 | $42.5M | $315.9M | ||
| Q3 24 | $62.4M | $84.0M | ||
| Q2 24 | $59.6M | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $-736.8M | ||
| Q3 25 | $498.9M | $-702.6M | ||
| Q2 25 | $455.6M | $-686.0M | ||
| Q1 25 | $462.1M | $-715.0M | ||
| Q4 24 | $519.3M | $-675.6M | ||
| Q3 24 | $412.8M | $-447.5M | ||
| Q2 24 | $371.4M | $-437.5M |
| Q1 26 | $580.6M | $648.9M | ||
| Q4 25 | $689.0M | $693.4M | ||
| Q3 25 | $640.5M | $721.0M | ||
| Q2 25 | $567.4M | $708.3M | ||
| Q1 25 | $564.7M | $696.8M | ||
| Q4 24 | $626.7M | $716.2M | ||
| Q3 24 | $523.3M | $484.8M | ||
| Q2 24 | $479.3M | $451.8M |
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 | — | — |
| 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 | $57.3M | ||
| Q3 25 | $86.0M | $63.9M | ||
| Q2 25 | $52.6M | $6.6M | ||
| Q1 25 | $38.5M | $25.3M | ||
| Q4 24 | $36.6M | $7.7M | ||
| Q3 24 | $57.8M | $69.0M | ||
| Q2 24 | $50.9M | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $34.5M | ||
| Q3 25 | $84.7M | $61.7M | ||
| Q2 25 | $52.4M | $-7.8M | ||
| Q1 25 | $38.2M | $17.3M | ||
| Q4 24 | $36.4M | $-8.6M | ||
| Q3 24 | $57.4M | $54.9M | ||
| Q2 24 | $50.8M | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 19.6% | ||
| Q3 25 | 34.0% | 35.1% | ||
| Q2 25 | 22.2% | -4.5% | ||
| Q1 25 | 17.6% | 10.1% | ||
| Q4 24 | 17.9% | -5.3% | ||
| Q3 24 | 27.9% | 33.8% | ||
| Q2 24 | 25.8% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 13.0% | ||
| Q3 25 | 0.5% | 1.3% | ||
| Q2 25 | 0.1% | 8.2% | ||
| Q1 25 | 0.1% | 4.7% | ||
| Q4 24 | 0.1% | 10.1% | ||
| Q3 24 | 0.2% | 8.7% | ||
| Q2 24 | 0.0% | 6.6% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 2.14× | ||
| Q3 25 | 2.56× | 2.24× | ||
| Q2 25 | 1.46× | 0.25× | ||
| Q1 25 | 1.23× | 0.27× | ||
| Q4 24 | 0.36× | 0.29× | ||
| Q3 24 | 1.75× | 2.68× | ||
| Q2 24 | 1.71× | 1.32× |
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% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
