How do APPFOLIO INC and PTC Inc. compare by revenue?

APPFOLIO INC reported revenue of $248.2M in Q4 2025, while PTC Inc. reported $685.8M in Q1 2026. PTC Inc. is 2.8× larger by last-quarter revenue.

Which is growing revenue faster, APPFOLIO INC or PTC Inc.?

APPFOLIO INC's latest revenue grew 21.9% year-over-year, versus 21.4% for PTC Inc.. APPFOLIO INC is growing faster on a YoY basis.

Which has a higher net margin, APPFOLIO INC or PTC Inc.?

APPFOLIO INC's net margin is 16.1% vs PTC Inc.'s 24.3%. PTC Inc. has the higher bottom-line margin.

Which generates more free cash flow, APPFOLIO INC or PTC Inc.?

APPFOLIO INC generated $63.7M of free cash flow last quarter, versus $267.4M for PTC Inc.. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for APPFOLIO INC vs PTC Inc.?

Over the trailing 8 quarters, APPFOLIO INC compounded revenue at roughly 15.1% per year, versus 6.6% for PTC Inc.. APPFOLIO INC has the faster medium-term growth trajectory.

Where does this APPF vs PTC data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of APPFOLIO INC (APPF) and PTC Inc. (PTC), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.

PTC Inc. is the larger business by last-quarter revenue ($685.8M vs $248.2M, roughly 2.8× APPFOLIO INC). PTC Inc. runs the higher net margin — 16.1% vs 24.3%, a 8.2% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (21.9% vs 21.4%). PTC Inc. produced more free cash flow last quarter ($267.4M vs $63.7M). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.1% CAGR vs 6.6%).

APPFOLIO INCAPPFEarnings & Financial Report

Nasdaq · software industry

AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.

PTC Inc.PTCEarnings & Financial Report

Nasdaq · Information Technology · software industry

PTC Inc. is an American computer software and services company founded in 1985 and headquartered in Boston, Massachusetts. The company was a pioneer in parametric, associative feature-based, solid computer-aided design (CAD) modeling software in 1988, including an Internet-based product for Product Lifecycle Management (PLM) in 1998. PTC markets products and services and an Internet of Things (IoT) and augmented reality (AR) platform for partners and developers.

APPF vs PTC — Head-to-Head

Bigger by revenue

PTC

2.8× larger

$685.8M

$248.2M

Growing faster (revenue YoY)

APPF

+0.5% gap

21.9%

21.4%

Higher net margin

PTC

8.2% more per $

24.3%

16.1%

More free cash flow

PTC

$203.7M more FCF

$267.4M

$63.7M

Faster 2-yr revenue CAGR

APPF

Annualised

15.1%

6.6%

Income Statement — Q4 2025 vs Q1 2026

Metric	APPF	PTC
Revenue	$248.2M	$685.8M
Net Profit	$39.9M	$166.5M
Gross Margin	—	82.8%
Operating Margin	17.6%	32.2%
Net Margin	16.1%	24.3%
Revenue YoY	21.9%	21.4%
Net Profit YoY	-61.1%	102.5%
EPS (diluted)	$1.10	$1.39

Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.

Revenue

APPF

PTC

Q4 25	$248.2M	$685.8M
Q3 25	$249.4M	$893.8M
Q2 25	$235.6M	$643.9M
Q1 25	$217.7M	$636.4M
Q4 24	$203.7M	$565.1M
Q3 24	$205.7M	$626.5M
Q2 24	$197.4M	$518.6M
Q1 24	$187.4M	$603.1M

Net Profit

APPF

PTC

Q4 25	$39.9M	$166.5M
Q3 25	$33.6M	$347.8M
Q2 25	$36.0M	$141.3M
Q1 25	$31.4M	$162.6M
Q4 24	$102.7M	$82.2M
Q3 24	$33.0M	$126.5M
Q2 24	$29.7M	$69.0M
Q1 24	$38.7M	$114.4M

Gross Margin

APPF

PTC

Q4 25	—	82.8%
Q3 25	—	86.9%
Q2 25	—	82.9%
Q1 25	—	83.3%
Q4 24	—	80.2%
Q3 24	—	82.0%
Q2 24	—	78.4%
Q1 24	—	81.8%

Operating Margin

APPF

PTC

Q4 25	17.6%	32.2%
Q3 25	14.1%	48.5%
Q2 25	17.2%	32.6%
Q1 25	15.5%	35.1%
Q4 24	11.3%	20.4%
Q3 24	20.7%	31.0%
Q2 24	18.3%	18.5%
Q1 24	18.2%	29.8%

Net Margin

APPF

PTC

Q4 25	16.1%	24.3%
Q3 25	13.5%	38.9%
Q2 25	15.3%	21.9%
Q1 25	14.4%	25.6%
Q4 24	50.4%	14.6%
Q3 24	16.0%	20.2%
Q2 24	15.0%	13.3%
Q1 24	20.6%	19.0%

EPS (diluted)

APPF

PTC

Q4 25	$1.10	$1.39
Q3 25	$0.93	$2.88
Q2 25	$0.99	$1.17
Q1 25	$0.86	$1.35
Q4 24	$2.79	$0.68
Q3 24	$0.90	$1.05
Q2 24	$0.81	$0.57
Q1 24	$1.05	$0.95

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.

Metric	APPF	PTC
Cash + ST InvestmentsLiquidity on hand	$107.0M	$209.7M
Total DebtLower is stronger	—	$1.2B
Stockholders' EquityBook value	$542.6M	$3.8B
Total Assets	$689.0M	$6.4B
Debt / EquityLower = less leverage	—	0.31×

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Cash + ST Investments

APPF

PTC

Q4 25	$107.0M	$209.7M
Q3 25	$76.1M	$184.4M
Q2 25	$73.5M	$199.3M
Q1 25	$56.9M	$235.2M
Q4 24	$42.5M	$196.3M
Q3 24	$62.4M	$265.8M
Q2 24	$59.6M	$247.7M
Q1 24	$59.2M	$249.0M

Total Debt

APPF

PTC

Q4 25	—	$1.2B
Q3 25	—	$1.2B
Q2 25	—	$1.2B
Q1 25	—	$1.4B
Q4 24	—	$1.0B
Q3 24	—	$1.2B
Q2 24	—	$1.3B
Q1 24	—	$1.5B

Stockholders' Equity

APPF

PTC

Q4 25	$542.6M	$3.8B
Q3 25	$498.9M	$3.8B
Q2 25	$455.6M	$3.5B
Q1 25	$462.1M	$3.4B
Q4 24	$519.3M	$3.2B
Q3 24	$412.8M	$3.2B
Q2 24	$371.4M	$3.0B
Q1 24	$339.2M	$2.9B

Total Assets

APPF

PTC

Q4 25	$689.0M	$6.4B
Q3 25	$640.5M	$6.6B
Q2 25	$567.4M	$6.2B
Q1 25	$564.7M	$6.2B
Q4 24	$626.7M	$6.1B
Q3 24	$523.3M	$6.4B
Q2 24	$479.3M	$6.1B
Q1 24	$438.8M	$6.2B

Debt / Equity

APPF

PTC

Q4 25	—	0.31×
Q3 25	—	0.31×
Q2 25	—	0.34×
Q1 25	—	0.40×
Q4 24	—	0.32×
Q3 24	—	0.38×
Q2 24	—	0.43×
Q1 24	—	0.51×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.

Metric	APPF	PTC
Operating Cash FlowLast quarter	$65.0M	$269.7M
Free Cash FlowOCF − Capex	$63.7M	$267.4M
FCF MarginFCF / Revenue	25.7%	39.0%
Capex IntensityCapex / Revenue; lower = less reinvestment burden	0.5%	0.3%
Cash ConversionOCF / Net Profit; >1× = earnings back up with cash	1.63×	1.62×
TTM Free Cash FlowTrailing 4 quarters	$238.9M	$888.4M

8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.

Operating Cash Flow

APPF

PTC

Q4 25	$65.0M	$269.7M
Q3 25	$86.0M	$104.0M
Q2 25	$52.6M	$243.9M
Q1 25	$38.5M	$281.3M
Q4 24	$36.6M	$238.4M
Q3 24	$57.8M	$98.1M
Q2 24	$50.9M	$213.8M
Q1 24	$43.0M	$250.7M

Free Cash Flow

APPF

PTC

Q4 25	$63.7M	$267.4M
Q3 25	$84.7M	$100.5M
Q2 25	$52.4M	$242.0M
Q1 25	$38.2M	$278.5M
Q4 24	$36.4M	$235.7M
Q3 24	$57.4M	$93.6M
Q2 24	$50.8M	$212.2M
Q1 24	$41.5M	$247.1M

FCF Margin

APPF

PTC

Q4 25	25.7%	39.0%
Q3 25	34.0%	11.2%
Q2 25	22.2%	37.6%
Q1 25	17.6%	43.8%
Q4 24	17.9%	41.7%
Q3 24	27.9%	14.9%
Q2 24	25.8%	40.9%
Q1 24	22.2%	41.0%

Capex Intensity

APPF

PTC

Q4 25	0.5%	0.3%
Q3 25	0.5%	0.4%
Q2 25	0.1%	0.3%
Q1 25	0.1%	0.4%
Q4 24	0.1%	0.5%
Q3 24	0.2%	0.7%
Q2 24	0.0%	0.3%
Q1 24	0.8%	0.6%

Cash Conversion

APPF

PTC

Q4 25	1.63×	1.62×
Q3 25	2.56×	0.30×
Q2 25	1.46×	1.73×
Q1 25	1.23×	1.73×
Q4 24	0.36×	2.90×
Q3 24	1.75×	0.78×
Q2 24	1.71×	3.10×
Q1 24	1.11×	2.19×

Financial Flow Comparison

Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.