AppFolio, Inc. vs nCino, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
Summary Verdict
APPF: 3—NCNO: 2wins
Rule of 40
40.6APPF
47.7NCNO
check_circleNCNO leads
Revenue Growth
29.5%APPF
11.8%NCNO
check_circleAPPF leads
Gross Margin
87%APPF
61%NCNO
check_circleAPPF leads
FCF Margin
11.2%APPF
35.9%NCNO
check_circleNCNO leads
Operating Margin
17.4%APPF
3.6%NCNO
check_circleAPPF leads
NRR
—APPF
—NCNO
Metric
Rule of 40Efficiency score
APPF
40.6
NCNO
47.7check_circle
Revenue GrowthYoY
APPF
29.5%check_circle
NCNO
11.8%
Gross Margin% of revenue
APPF
87%check_circle
NCNO
61%
FCF MarginFree cash flow
APPF
11.2%
NCNO
35.9%check_circle
Operating MarginGAAP
APPF
17.4%check_circle
NCNO
3.6%
NRRNet retention
APPF
N/A
NCNO
N/A
EV / RevenueValuation multiple
APPF
6.3x
NCNO
3.1xcheck_circle
Market CapUSD
APPF
$6.4Bcheck_circle
NCNO
$2.0B
ARR GrowthYoY
APPF
N/A
NCNO
N/A
CAC PaybackMonths to recover
APPF
N/A
NCNO
N/A
insights
Analysis
As of Q2 2026, AppFolio, Inc. trades at 6.3x EV/Revenue versus nCino, Inc. at 3.1x. On the Rule of 40, AppFolio, Inc. scores 40.6 compared to nCino, Inc.'s 47.7, placing nCino, Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 87% vs nCino, Inc. 61%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.