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APPFOLIO INC（APPF）与Regency Centers（REG）财务数据对比。点击上方公司名可切换其他公司
Regency Centers的季度营收约是APPFOLIO INC的1.5倍（$404.2M vs $262.2M），Regency Centers净利率更高（50.1% vs 16.2%，领先33.9%），APPFOLIO INC同比增速更快（20.4% vs 8.5%），过去两年APPFOLIO INC的营收复合增速更高（15.3% vs 5.4%）
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。
Regency Centers是总部位于美国佛罗里达州杰克逊维尔的房地产投资信托基金，也是以超市为核心租户的大型购物中心运营商之一。截至2020年10月21日，公司共持有415处物业，总建筑面积达5600万平方英尺，知名资产包括Serramonte Center及Village District 30%的股权。
APPF vs REG — 直观对比
营收规模更大
REG
是对方的1.5倍
$262.2M
营收增速更快
APPF
高出11.9%
8.5%
净利率更高
REG
高出33.9%
16.2%
两年增速更快
APPF
近两年复合增速
5.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $262.2M | $404.2M |
| 净利润 | $42.4M | $202.5M |
| 毛利率 | — | — |
| 营业利润率 | 19.4% | 71.0% |
| 净利率 | 16.2% | 50.1% |
| 营收同比 | 20.4% | 8.5% |
| 净利润同比 | 35.2% | 134.1% |
| 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APPFREG
| Q1 26 | $262.2M | — | ||
| Q4 25 | $248.2M | $404.2M | ||
| Q3 25 | $249.4M | $387.6M | ||
| Q2 25 | $235.6M | $380.8M | ||
| Q1 25 | $217.7M | $380.9M | ||
| Q4 24 | $203.7M | $372.5M | ||
| Q3 24 | $205.7M | $360.3M | ||
| Q2 24 | $197.4M | $357.3M |
净利润APPFREG
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $202.5M | ||
| Q3 25 | $33.6M | $109.4M | ||
| Q2 25 | $36.0M | $106.0M | ||
| Q1 25 | $31.4M | $109.6M | ||
| Q4 24 | $102.7M | $86.5M | ||
| Q3 24 | $33.0M | $101.5M | ||
| Q2 24 | $29.7M | $102.7M |
营业利润率APPFREG
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 71.0% | ||
| Q3 25 | 14.1% | 72.7% | ||
| Q2 25 | 17.2% | 73.8% | ||
| Q1 25 | 15.5% | 71.8% | ||
| Q4 24 | 11.3% | 71.1% | ||
| Q3 24 | 20.7% | 72.5% | ||
| Q2 24 | 18.3% | 72.3% |
净利率APPFREG
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 50.1% | ||
| Q3 25 | 13.5% | 28.2% | ||
| Q2 25 | 15.3% | 27.8% | ||
| Q1 25 | 14.4% | 28.8% | ||
| Q4 24 | 50.4% | 23.2% | ||
| Q3 24 | 16.0% | 28.2% | ||
| Q2 24 | 15.0% | 28.7% |
每股收益（稀释后）APPFREG
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | — | ||
| Q3 25 | $0.93 | — | ||
| Q2 25 | $0.99 | — | ||
| Q1 25 | $0.86 | — | ||
| Q4 24 | $2.79 | — | ||
| Q3 24 | $0.90 | — | ||
| 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 | — |
| 总债务越低越好 | — | $4.7B |
| 股东权益账面价值 | $470.2M | $6.9B |
| 总资产 | $580.6M | $13.0B |
| 负债/权益比越低杠杆越低 | — | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资APPFREG
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | — | ||
| Q3 25 | $76.1M | — | ||
| Q2 25 | $73.5M | — | ||
| Q1 25 | $56.9M | — | ||
| Q4 24 | $42.5M | — | ||
| Q3 24 | $62.4M | — | ||
| Q2 24 | $59.6M | — |
总债务APPFREG
| Q1 26 | — | — | ||
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $4.9B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $4.4B |
股东权益APPFREG
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $6.9B | ||
| Q3 25 | $498.9M | $6.8B | ||
| Q2 25 | $455.6M | $6.7B | ||
| Q1 25 | $462.1M | $6.7B | ||
| Q4 24 | $519.3M | $6.7B | ||
| Q3 24 | $412.8M | $6.8B | ||
| Q2 24 | $371.4M | $6.8B |
总资产APPFREG
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $13.0B | ||
| Q3 25 | $640.5M | $13.1B | ||
| Q2 25 | $567.4M | $12.7B | ||
| Q1 25 | $564.7M | $12.6B | ||
| Q4 24 | $626.7M | $12.4B | ||
| Q3 24 | $523.3M | $12.4B | ||
| Q2 24 | $479.3M | $12.4B |
负债/权益比APPFREG
| Q1 26 | — | — | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | 0.65× | ||
| Q2 24 | — | 0.64× |
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 | $203.9M |
| 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× | 1.01× |
| 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APPFREG
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $203.9M | ||
| Q3 25 | $86.0M | $218.7M | ||
| Q2 25 | $52.6M | $244.0M | ||
| Q1 25 | $38.5M | $161.0M | ||
| Q4 24 | $36.6M | $191.4M | ||
| Q3 24 | $57.8M | $227.6M | ||
| Q2 24 | $50.9M | $203.5M |
自由现金流APPFREG
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | — | ||
| Q3 25 | $84.7M | — | ||
| Q2 25 | $52.4M | — | ||
| Q1 25 | $38.2M | — | ||
| Q4 24 | $36.4M | — | ||
| Q3 24 | $57.4M | — | ||
| Q2 24 | $50.8M | — |
自由现金流率APPFREG
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | — | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 22.2% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 27.9% | — | ||
| Q2 24 | 25.8% | — |
资本支出强度APPFREG
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.0% | — |
现金转化率APPFREG
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 1.01× | ||
| Q3 25 | 2.56× | 2.00× | ||
| Q2 25 | 1.46× | 2.30× | ||
| Q1 25 | 1.23× | 1.47× | ||
| Q4 24 | 0.36× | 2.21× | ||
| Q3 24 | 1.75× | 2.24× | ||
| Q2 24 | 1.71× | 1.98× |
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% |
REG
| Shopping Centers | $418.0M | 103% |
| Propertymanagementservices | $4.1M | 1% |
| Assetmanagementservices | $1.7M | 0% |
