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APPFOLIO INC（APPF）与Forestar Group Inc.（FOR）财务数据对比。点击上方公司名可切换其他公司
Forestar Group Inc.的季度营收约是APPFOLIO INC的1.0倍（$273.0M vs $262.2M），APPFOLIO INC净利率更高（16.2% vs 5.6%，领先10.5%），APPFOLIO INC同比增速更快（20.4% vs 9.0%），过去两年APPFOLIO INC的营收复合增速更高（15.3% vs -9.6%）
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。
福雷斯特集团是一家住宅地块开发企业，总部位于得克萨斯州阿灵顿，业务覆盖美国21个州的51个市场。截至2020年12月31日的12个月内，该公司交付了11518块住宅地块，目前在纽约证券交易所上市，自2002年起就是美国规模最大的住宅建筑商D.R. Horton的控股子公司。
APPF vs FOR — 直观对比
营收规模更大
FOR
是对方的1.0倍
$262.2M
营收增速更快
APPF
高出11.4%
9.0%
净利率更高
APPF
高出10.5%
5.6%
两年增速更快
APPF
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $262.2M | $273.0M |
| 净利润 | $42.4M | $15.4M |
| 毛利率 | — | 20.1% |
| 营业利润率 | 19.4% | 7.6% |
| 净利率 | 16.2% | 5.6% |
| 营收同比 | 20.4% | 9.0% |
| 净利润同比 | 35.2% | -6.7% |
| 每股收益（稀释后） | $1.18 | $0.30 |
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APPFFOR
| Q1 26 | $262.2M | — | ||
| Q4 25 | $248.2M | $273.0M | ||
| Q3 25 | $249.4M | $670.5M | ||
| Q2 25 | $235.6M | $390.5M | ||
| Q1 25 | $217.7M | $351.0M | ||
| Q4 24 | $203.7M | $250.4M | ||
| Q3 24 | $205.7M | $551.3M | ||
| Q2 24 | $197.4M | $318.4M |
净利润APPFFOR
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $15.4M | ||
| Q3 25 | $33.6M | $86.9M | ||
| Q2 25 | $36.0M | $32.9M | ||
| Q1 25 | $31.4M | $31.6M | ||
| Q4 24 | $102.7M | $16.5M | ||
| Q3 24 | $33.0M | $81.5M | ||
| Q2 24 | $29.7M | $38.7M |
毛利率APPFFOR
| Q1 26 | — | — | ||
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 22.5% |
营业利润率APPFFOR
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 7.6% | ||
| Q3 25 | 14.1% | 16.9% | ||
| Q2 25 | 17.2% | 11.2% | ||
| Q1 25 | 15.5% | 11.6% | ||
| Q4 24 | 11.3% | 8.7% | ||
| Q3 24 | 20.7% | 19.7% | ||
| Q2 24 | 18.3% | 16.2% |
净利率APPFFOR
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 5.6% | ||
| Q3 25 | 13.5% | 13.0% | ||
| Q2 25 | 15.3% | 8.4% | ||
| Q1 25 | 14.4% | 9.0% | ||
| Q4 24 | 50.4% | 6.6% | ||
| Q3 24 | 16.0% | 14.8% | ||
| Q2 24 | 15.0% | 12.2% |
每股收益（稀释后）APPFFOR
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.30 | ||
| Q3 25 | $0.93 | $1.70 | ||
| Q2 25 | $0.99 | $0.65 | ||
| Q1 25 | $0.86 | $0.62 | ||
| Q4 24 | $2.79 | $0.32 | ||
| Q3 24 | $0.90 | $1.59 | ||
| Q2 24 | $0.81 | $0.76 |
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 | $211.7M |
| 总债务越低越好 | — | $793.2M |
| 股东权益账面价值 | $470.2M | $1.8B |
| 总资产 | $580.6M | $3.2B |
| 负债/权益比越低杠杆越低 | — | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资APPFFOR
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $211.7M | ||
| Q3 25 | $76.1M | $379.2M | ||
| Q2 25 | $73.5M | $189.2M | ||
| Q1 25 | $56.9M | $174.3M | ||
| Q4 24 | $42.5M | $132.0M | ||
| Q3 24 | $62.4M | $481.2M | ||
| Q2 24 | $59.6M | $359.2M |
总债务APPFFOR
| Q1 26 | — | — | ||
| Q4 25 | — | $793.2M | ||
| Q3 25 | — | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | — | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M |
股东权益APPFFOR
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $1.8B | ||
| Q3 25 | $498.9M | $1.8B | ||
| Q2 25 | $455.6M | $1.7B | ||
| Q1 25 | $462.1M | $1.6B | ||
| Q4 24 | $519.3M | $1.6B | ||
| Q3 24 | $412.8M | $1.6B | ||
| Q2 24 | $371.4M | $1.5B |
总资产APPFFOR
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $3.2B | ||
| Q3 25 | $640.5M | $3.1B | ||
| Q2 25 | $567.4M | $3.1B | ||
| Q1 25 | $564.7M | $3.0B | ||
| Q4 24 | $626.7M | $3.0B | ||
| Q3 24 | $523.3M | $2.8B | ||
| Q2 24 | $479.3M | $2.7B |
负债/权益比APPFFOR
| Q1 26 | — | — | ||
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× |
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 | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-157.1M |
| 自由现金流率自由现金流/营收 | — | -57.5% |
| 资本支出强度资本支出/营收 | — | 0.0% |
| 现金转化率经营现金流/净利润 | 0.81× | -10.19× |
| 过去12个月自由现金流最近4个季度 | — | $93.0M |
8季度趋势，按日历期对齐
经营现金流APPFFOR
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $-157.0M | ||
| Q3 25 | $86.0M | $256.3M | ||
| Q2 25 | $52.6M | $15.8M | ||
| Q1 25 | $38.5M | $-19.8M | ||
| Q4 24 | $36.6M | $-450.0M | ||
| Q3 24 | $57.8M | $119.2M | ||
| Q2 24 | $50.9M | $-61.7M |
自由现金流APPFFOR
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-157.1M | ||
| Q3 25 | $84.7M | $255.6M | ||
| Q2 25 | $52.4M | $15.0M | ||
| Q1 25 | $38.2M | $-20.5M | ||
| Q4 24 | $36.4M | — | ||
| Q3 24 | $57.4M | $118.4M | ||
| Q2 24 | $50.8M | $-62.3M |
自由现金流率APPFFOR
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -57.5% | ||
| Q3 25 | 34.0% | 38.1% | ||
| Q2 25 | 22.2% | 3.8% | ||
| Q1 25 | 17.6% | -5.8% | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 27.9% | 21.5% | ||
| Q2 24 | 25.8% | -19.6% |
资本支出强度APPFFOR
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.0% | ||
| Q3 25 | 0.5% | 0.1% | ||
| Q2 25 | 0.1% | 0.2% | ||
| Q1 25 | 0.1% | 0.2% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 0.0% | 0.2% |
现金转化率APPFFOR
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | -10.19× | ||
| Q3 25 | 2.56× | 2.95× | ||
| Q2 25 | 1.46× | 0.48× | ||
| Q1 25 | 1.23× | -0.63× | ||
| Q4 24 | 0.36× | -27.27× | ||
| Q3 24 | 1.75× | 1.46× | ||
| Q2 24 | 1.71× | -1.59× |
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% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
