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APPFOLIO INC（APPF）与六旗（FUN）财务数据对比。点击上方公司名可切换其他公司
APPFOLIO INC的季度营收约是六旗的1.2倍（$262.2M vs $225.6M），APPFOLIO INC净利率更高（16.2% vs -119.0%，领先135.2%），APPFOLIO INC同比增速更快（20.4% vs 11.7%）
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。
六旗娱乐是总部位于美国北卡罗来纳州夏洛特的游乐园运营企业，由雪松会与原六旗公司于2024年7月1日对等合并而成，是全球最大的区域性游乐园运营商。旗下共运营42个场地，包含27座游乐园、15座水上乐园，配套9处 onsite 度假物业。
APPF vs FUN — 直观对比
营收规模更大
APPF
是对方的1.2倍
$225.6M
营收增速更快
APPF
高出8.8%
11.7%
净利率更高
APPF
高出135.2%
-119.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $262.2M | $225.6M |
| 净利润 | $42.4M | $-268.6M |
| 毛利率 | — | — |
| 营业利润率 | 19.4% | — |
| 净利率 | 16.2% | -119.0% |
| 营收同比 | 20.4% | 11.7% |
| 净利润同比 | 35.2% | -22.2% |
| 每股收益（稀释后） | $1.18 | — |
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APPFFUN
| Q1 26 | $262.2M | $225.6M | ||
| Q4 25 | $248.2M | $650.1M | ||
| Q3 25 | $249.4M | $1.3B | ||
| Q2 25 | $235.6M | $930.4M | ||
| Q1 25 | $217.7M | $202.1M | ||
| Q4 24 | $203.7M | — | ||
| Q3 24 | $205.7M | $1.3B | ||
| Q2 24 | $197.4M | $571.6M |
净利润APPFFUN
| Q1 26 | $42.4M | $-268.6M | ||
| Q4 25 | $39.9M | $-92.4M | ||
| Q3 25 | $33.6M | $-1.2B | ||
| Q2 25 | $36.0M | $-99.6M | ||
| Q1 25 | $31.4M | $-219.7M | ||
| Q4 24 | $102.7M | — | ||
| Q3 24 | $33.0M | $111.0M | ||
| Q2 24 | $29.7M | $55.6M |
毛利率APPFFUN
| Q1 26 | — | — | ||
| Q4 25 | — | 91.4% | ||
| Q3 25 | — | 91.6% | ||
| Q2 25 | — | 91.3% | ||
| Q1 25 | — | 89.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 91.9% | ||
| Q2 24 | — | 90.7% |
营业利润率APPFFUN
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | -3.8% | ||
| Q3 25 | 14.1% | -83.7% | ||
| Q2 25 | 17.2% | 8.0% | ||
| Q1 25 | 15.5% | -158.9% | ||
| Q4 24 | 11.3% | — | ||
| Q3 24 | 20.7% | 19.5% | ||
| Q2 24 | 18.3% | 21.6% |
净利率APPFFUN
| Q1 26 | 16.2% | -119.0% | ||
| Q4 25 | 16.1% | -14.2% | ||
| Q3 25 | 13.5% | -90.1% | ||
| Q2 25 | 15.3% | -10.7% | ||
| Q1 25 | 14.4% | -108.7% | ||
| Q4 24 | 50.4% | — | ||
| Q3 24 | 16.0% | 8.2% | ||
| Q2 24 | 15.0% | 9.7% |
每股收益（稀释后）APPFFUN
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $-0.93 | ||
| Q3 25 | $0.93 | $-11.77 | ||
| Q2 25 | $0.99 | $-0.99 | ||
| Q1 25 | $0.86 | $-2.20 | ||
| Q4 24 | $2.79 | — | ||
| Q3 24 | $0.90 | $1.10 | ||
| Q2 24 | $0.81 | — |
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 | $116.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $470.2M | $279.2M |
| 总资产 | $580.6M | $7.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资APPFFUN
| Q1 26 | $147.4M | $116.5M | ||
| Q4 25 | $107.0M | $91.1M | ||
| Q3 25 | $76.1M | $70.7M | ||
| Q2 25 | $73.5M | $107.4M | ||
| Q1 25 | $56.9M | $61.5M | ||
| Q4 24 | $42.5M | — | ||
| Q3 24 | $62.4M | $89.7M | ||
| Q2 24 | $59.6M | $52.9M |
总债务APPFFUN
| Q1 26 | — | — | ||
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $5.3B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $2.3B |
股东权益APPFFUN
| Q1 26 | $470.2M | $279.2M | ||
| Q4 25 | $542.6M | $549.8M | ||
| Q3 25 | $498.9M | $614.3M | ||
| Q2 25 | $455.6M | $1.8B | ||
| Q1 25 | $462.1M | $1.8B | ||
| Q4 24 | $519.3M | — | ||
| Q3 24 | $412.8M | $2.3B | ||
| Q2 24 | $371.4M | — |
总资产APPFFUN
| Q1 26 | $580.6M | $7.7B | ||
| Q4 25 | $689.0M | $7.8B | ||
| Q3 25 | $640.5M | $7.9B | ||
| Q2 25 | $567.4M | $9.5B | ||
| Q1 25 | $564.7M | $9.2B | ||
| Q4 24 | $626.7M | — | ||
| Q3 24 | $523.3M | $9.4B | ||
| Q2 24 | $479.3M | $2.3B |
负债/权益比APPFFUN
| Q1 26 | — | — | ||
| Q4 25 | — | 9.40× | ||
| Q3 25 | — | 8.16× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | — | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流APPFFUN
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $-37.7M | ||
| Q3 25 | $86.0M | $356.2M | ||
| Q2 25 | $52.6M | $187.0M | ||
| Q1 25 | $38.5M | $-178.0M | ||
| Q4 24 | $36.6M | — | ||
| Q3 24 | $57.8M | $337.4M | ||
| Q2 24 | $50.9M | — |
自由现金流APPFFUN
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-109.3M | ||
| Q3 25 | $84.7M | $256.2M | ||
| Q2 25 | $52.4M | $18.8M | ||
| Q1 25 | $38.2M | $-318.0M | ||
| Q4 24 | $36.4M | — | ||
| Q3 24 | $57.4M | $227.7M | ||
| Q2 24 | $50.8M | — |
自由现金流率APPFFUN
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -16.8% | ||
| Q3 25 | 34.0% | 19.4% | ||
| Q2 25 | 22.2% | 2.0% | ||
| Q1 25 | 17.6% | -157.4% | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 27.9% | 16.9% | ||
| Q2 24 | 25.8% | — |
资本支出强度APPFFUN
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 11.0% | ||
| Q3 25 | 0.5% | 7.6% | ||
| Q2 25 | 0.1% | 18.1% | ||
| Q1 25 | 0.1% | 69.3% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.2% | 8.1% | ||
| Q2 24 | 0.0% | — |
现金转化率APPFFUN
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 2.56× | — | ||
| Q2 25 | 1.46× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | 3.04× | ||
| 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% |
FUN
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
