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APPFOLIO INC（APPF）与Ultragenyx Pharmaceutical Inc.（RARE）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Ultragenyx Pharmaceutical Inc.的1.3倍（$262.2M vs $207.3M），APPFOLIO INC净利率更高（16.2% vs -62.0%，领先78.2%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 20.4%），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% 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。
Ultragenyx Pharmaceutical Inc.是一家总部位于美国的生物制药企业，专注于研发罕见病和超罕见遗传病的创新治疗方案，这类疾病目前大多无获批疗法，存在大量未被满足的临床需求。公司覆盖生物制剂、小分子药物、基因疗法、反义寡核苷酸及mRNA等多种药物技术平台，研发管线涵盖骨骼、内分泌、代谢、肌肉及中枢神经系统疾病领域。
APPF vs RARE — 直观对比
营收规模更大
APPF
是对方的1.3倍
$207.3M
营收增速更快
RARE
高出5.4%
20.4%
净利率更高
APPF
高出78.2%
-62.0%
两年增速更快
RARE
近两年复合增速
15.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $262.2M | $207.3M |
| 净利润 | $42.4M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | 19.4% | -54.7% |
| 净利率 | 16.2% | -62.0% |
| 营收同比 | 20.4% | 25.9% |
| 净利润同比 | 35.2% | 3.5% |
| 每股收益（稀释后） | $1.18 | $-1.28 |
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APPFRARE
| Q1 26 | $262.2M | — | ||
| Q4 25 | $248.2M | $207.3M | ||
| Q3 25 | $249.4M | $159.9M | ||
| Q2 25 | $235.6M | $166.5M | ||
| Q1 25 | $217.7M | $139.3M | ||
| Q4 24 | $203.7M | $164.6M | ||
| Q3 24 | $205.7M | $139.5M | ||
| Q2 24 | $197.4M | $147.0M |
净利润APPFRARE
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $-128.6M | ||
| Q3 25 | $33.6M | $-180.4M | ||
| Q2 25 | $36.0M | $-115.0M | ||
| Q1 25 | $31.4M | $-151.1M | ||
| Q4 24 | $102.7M | $-133.2M | ||
| Q3 24 | $33.0M | $-133.5M | ||
| Q2 24 | $29.7M | $-131.6M |
营业利润率APPFRARE
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | -54.7% | ||
| Q3 25 | 14.1% | -106.9% | ||
| Q2 25 | 17.2% | -64.8% | ||
| Q1 25 | 15.5% | -102.6% | ||
| Q4 24 | 11.3% | -74.3% | ||
| Q3 24 | 20.7% | -94.6% | ||
| Q2 24 | 18.3% | -79.1% |
净利率APPFRARE
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | -62.0% | ||
| Q3 25 | 13.5% | -112.8% | ||
| Q2 25 | 15.3% | -69.0% | ||
| Q1 25 | 14.4% | -108.5% | ||
| Q4 24 | 50.4% | -80.9% | ||
| Q3 24 | 16.0% | -95.7% | ||
| Q2 24 | 15.0% | -89.5% |
每股收益（稀释后）APPFRARE
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $-1.28 | ||
| Q3 25 | $0.93 | $-1.81 | ||
| Q2 25 | $0.99 | $-1.17 | ||
| Q1 25 | $0.86 | $-1.57 | ||
| Q4 24 | $2.79 | $-1.34 | ||
| Q3 24 | $0.90 | $-1.40 | ||
| Q2 24 | $0.81 | $-1.52 |
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 | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $470.2M | $-80.0M |
| 总资产 | $580.6M | $1.5B |
| 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APPFRARE
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $421.0M | ||
| Q3 25 | $76.1M | $202.5M | ||
| Q2 25 | $73.5M | $176.3M | ||
| Q1 25 | $56.9M | $127.1M | ||
| Q4 24 | $42.5M | $174.0M | ||
| Q3 24 | $62.4M | $150.6M | ||
| Q2 24 | $59.6M | $480.7M |
股东权益APPFRARE
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $-80.0M | ||
| Q3 25 | $498.9M | $9.2M | ||
| Q2 25 | $455.6M | $151.3M | ||
| Q1 25 | $462.1M | $144.2M | ||
| Q4 24 | $519.3M | $255.0M | ||
| Q3 24 | $412.8M | $346.8M | ||
| Q2 24 | $371.4M | $432.4M |
总资产APPFRARE
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $1.5B | ||
| Q3 25 | $640.5M | $1.2B | ||
| Q2 25 | $567.4M | $1.3B | ||
| Q1 25 | $564.7M | $1.3B | ||
| Q4 24 | $626.7M | $1.5B | ||
| Q3 24 | $523.3M | $1.5B | ||
| Q2 24 | $479.3M | $1.6B |
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 | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-100.8M |
| 自由现金流率自由现金流/营收 | — | -48.6% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 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 | — | $-472.0M |
8季度趋势，按日历期对齐
经营现金流APPFRARE
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $-99.8M | ||
| Q3 25 | $86.0M | $-91.4M | ||
| Q2 25 | $52.6M | $-108.3M | ||
| Q1 25 | $38.5M | $-166.5M | ||
| Q4 24 | $36.6M | $-79.3M | ||
| Q3 24 | $57.8M | $-67.0M | ||
| Q2 24 | $50.9M | $-77.0M |
自由现金流APPFRARE
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-100.8M | ||
| Q3 25 | $84.7M | $-92.7M | ||
| Q2 25 | $52.4M | $-110.7M | ||
| Q1 25 | $38.2M | $-167.8M | ||
| Q4 24 | $36.4M | $-79.5M | ||
| Q3 24 | $57.4M | $-68.6M | ||
| Q2 24 | $50.8M | $-79.0M |
自由现金流率APPFRARE
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -48.6% | ||
| Q3 25 | 34.0% | -58.0% | ||
| Q2 25 | 22.2% | -66.5% | ||
| Q1 25 | 17.6% | -120.5% | ||
| Q4 24 | 17.9% | -48.3% | ||
| Q3 24 | 27.9% | -49.2% | ||
| Q2 24 | 25.8% | -53.7% |
资本支出强度APPFRARE
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.5% | ||
| Q3 25 | 0.5% | 0.8% | ||
| Q2 25 | 0.1% | 1.5% | ||
| Q1 25 | 0.1% | 1.0% | ||
| Q4 24 | 0.1% | 0.1% | ||
| Q3 24 | 0.2% | 1.2% | ||
| Q2 24 | 0.0% | 1.4% |
现金转化率APPFRARE
| 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× | — | ||
| 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% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
