vs
APPFOLIO INC（APPF）与FTAI Infrastructure Inc.（FIP）财务数据对比。点击上方公司名可切换其他公司
APPFOLIO INC的季度营收约是FTAI Infrastructure Inc.的1.8倍（$262.2M vs $143.5M），APPFOLIO INC净利率更高（16.2% vs -68.1%，领先84.3%），FTAI Infrastructure Inc.同比增速更快（77.7% vs 20.4%），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs 15.3%）
AppFolio Inc.是一家2006年成立的美国企业，专注服务房地产行业，为客户提供软件即服务（SaaS）类应用产品及相关配套服务，助力房地产相关经营主体优化管理流程、提升运营效率。
FTAI基础设施有限公司持有、运营并投资交通物流、中游能源、发电等核心领域的优质关键基础设施资产，主要面向北美市场，聚焦拥有稳定长期现金流、合同约定收入流的项目，为利益相关方创造可持续回报。
APPF vs FIP — 直观对比
营收规模更大
APPF
是对方的1.8倍
$143.5M
营收增速更快
FIP
高出57.3%
20.4%
净利率更高
APPF
高出84.3%
-68.1%
两年增速更快
FIP
近两年复合增速
15.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $262.2M | $143.5M |
| 净利润 | $42.4M | $-97.7M |
| 毛利率 | — | — |
| 营业利润率 | 19.4% | -45.7% |
| 净利率 | 16.2% | -68.1% |
| 营收同比 | 20.4% | 77.7% |
| 净利润同比 | 35.2% | 21.6% |
| 每股收益（稀释后） | $1.18 | $-1.04 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收APPFFIP
| Q1 26 | $262.2M | — | ||
| Q4 25 | $248.2M | $143.5M | ||
| Q3 25 | $249.4M | $140.6M | ||
| Q2 25 | $235.6M | $122.3M | ||
| Q1 25 | $217.7M | $96.2M | ||
| Q4 24 | $203.7M | $80.8M | ||
| Q3 24 | $205.7M | $83.3M | ||
| Q2 24 | $197.4M | $84.9M |
净利润APPFFIP
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $-97.7M | ||
| Q3 25 | $33.6M | $-104.5M | ||
| Q2 25 | $36.0M | $-70.0M | ||
| Q1 25 | $31.4M | $120.2M | ||
| Q4 24 | $102.7M | $-124.7M | ||
| Q3 24 | $33.0M | $-43.0M | ||
| Q2 24 | $29.7M | $-48.1M |
营业利润率APPFFIP
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | -45.7% | ||
| Q3 25 | 14.1% | -70.8% | ||
| Q2 25 | 17.2% | -56.4% | ||
| Q1 25 | 15.5% | 81.8% | ||
| Q4 24 | 11.3% | -152.7% | ||
| Q3 24 | 20.7% | -51.7% | ||
| Q2 24 | 18.3% | -56.4% |
净利率APPFFIP
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | -68.1% | ||
| Q3 25 | 13.5% | -74.4% | ||
| Q2 25 | 15.3% | -57.2% | ||
| Q1 25 | 14.4% | 125.0% | ||
| Q4 24 | 50.4% | -154.4% | ||
| Q3 24 | 16.0% | -51.6% | ||
| Q2 24 | 15.0% | -56.7% |
每股收益（稀释后）APPFFIP
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $-1.04 | ||
| Q3 25 | $0.93 | $-1.38 | ||
| Q2 25 | $0.99 | $-0.73 | ||
| Q1 25 | $0.86 | $0.89 | ||
| Q4 24 | $2.79 | $-1.21 | ||
| Q3 24 | $0.90 | $-0.45 | ||
| Q2 24 | $0.81 | $-0.52 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $147.4M | $57.4M |
| 总债务越低越好 | — | $3.8B |
| 股东权益账面价值 | $470.2M | $21.3M |
| 总资产 | $580.6M | $5.7B |
| 负债/权益比越低杠杆越低 | — | 176.99× |
8季度趋势，按日历期对齐
现金及短期投资APPFFIP
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $57.4M | ||
| Q3 25 | $76.1M | $34.7M | ||
| Q2 25 | $73.5M | $33.6M | ||
| Q1 25 | $56.9M | $26.3M | ||
| Q4 24 | $42.5M | $27.8M | ||
| Q3 24 | $62.4M | $20.3M | ||
| Q2 24 | $59.6M | $33.1M |
总债务APPFFIP
| Q1 26 | — | — | ||
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B |
股东权益APPFFIP
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $21.3M | ||
| Q3 25 | $498.9M | $181.1M | ||
| Q2 25 | $455.6M | $375.5M | ||
| Q1 25 | $462.1M | $476.2M | ||
| Q4 24 | $519.3M | $202.7M | ||
| Q3 24 | $412.8M | $370.8M | ||
| Q2 24 | $371.4M | $394.8M |
总资产APPFFIP
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $5.7B | ||
| Q3 25 | $640.5M | $5.5B | ||
| Q2 25 | $567.4M | $4.4B | ||
| Q1 25 | $564.7M | $4.1B | ||
| Q4 24 | $626.7M | $2.4B | ||
| Q3 24 | $523.3M | $2.4B | ||
| Q2 24 | $479.3M | $2.5B |
负债/权益比APPFFIP
| Q1 26 | — | — | ||
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $34.3M | $-2.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-68.6M |
| 自由现金流率自由现金流/营收 | — | -47.8% |
| 资本支出强度资本支出/营收 | — | 45.9% |
| 现金转化率经营现金流/净利润 | 0.81× | — |
| 过去12个月自由现金流最近4个季度 | — | $-398.5M |
8季度趋势，按日历期对齐
经营现金流APPFFIP
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $-2.8M | ||
| Q3 25 | $86.0M | $-24.4M | ||
| Q2 25 | $52.6M | $-5.2M | ||
| Q1 25 | $38.5M | $-85.7M | ||
| Q4 24 | $36.6M | $-8.1M | ||
| Q3 24 | $57.8M | $14.2M | ||
| Q2 24 | $50.9M | $-17.6M |
自由现金流APPFFIP
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-68.6M | ||
| Q3 25 | $84.7M | $-90.7M | ||
| Q2 25 | $52.4M | $-87.5M | ||
| Q1 25 | $38.2M | $-151.7M | ||
| Q4 24 | $36.4M | $-34.3M | ||
| Q3 24 | $57.4M | $-11.7M | ||
| Q2 24 | $50.8M | $-32.1M |
自由现金流率APPFFIP
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -47.8% | ||
| Q3 25 | 34.0% | -64.5% | ||
| Q2 25 | 22.2% | -71.6% | ||
| Q1 25 | 17.6% | -157.7% | ||
| Q4 24 | 17.9% | -42.4% | ||
| Q3 24 | 27.9% | -14.0% | ||
| Q2 24 | 25.8% | -37.9% |
资本支出强度APPFFIP
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 45.9% | ||
| Q3 25 | 0.5% | 47.2% | ||
| Q2 25 | 0.1% | 67.3% | ||
| Q1 25 | 0.1% | 68.6% | ||
| Q4 24 | 0.1% | 32.5% | ||
| Q3 24 | 0.2% | 31.1% | ||
| Q2 24 | 0.0% | 17.2% |
现金转化率APPFFIP
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 2.56× | — | ||
| Q2 25 | 1.46× | — | ||
| Q1 25 | 1.23× | -0.71× | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | — | ||
| Q2 24 | 1.71× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
APPF
| Value Added Services | $201.4M | 77% |
| Subscription Services | $58.2M | 22% |
FIP
| Power Revenues | $45.9M | 32% |
| Rail Revenue | $44.6M | 31% |
| Service Other | $22.8M | 16% |
| Gas Revenues | $15.3M | 11% |
| Roadside Services Revenues | $11.5M | 8% |
| Rapauno | $1.2M | 1% |
