AppFolio, Inc. vs Shopify Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q2 2026
Summary Verdict
APPF: 2—SHOP: 3wins
Rule of 40
40.6APPF
55.0SHOP
check_circleSHOP leads
Revenue Growth
29.5%APPF
38.3%SHOP
check_circleSHOP leads
Gross Margin
87%APPF
48%SHOP
check_circleAPPF leads
FCF Margin
11.2%APPF
16.8%SHOP
check_circleSHOP leads
Operating Margin
17.4%APPF
12.3%SHOP
check_circleAPPF leads
NRR
—APPF
—SHOP
Metric
Rule of 40Efficiency score
APPF
40.6
SHOP
55.0check_circle
Revenue GrowthYoY
APPF
29.5%
SHOP
38.3%check_circle
Gross Margin% of revenue
APPF
87%check_circle
SHOP
48%
FCF MarginFree cash flow
APPF
11.2%
SHOP
16.8%check_circle
Operating MarginGAAP
APPF
17.4%check_circle
SHOP
12.3%
NRRNet retention
APPF
N/A
SHOP
N/A
EV / RevenueValuation multiple
APPF
7.5xcheck_circle
SHOP
13.5x
Market CapUSD
APPF
$7.7B
SHOP
$166.7Bcheck_circle
ARR GrowthYoY
APPF
N/A
SHOP
N/A
CAC PaybackMonths to recover
APPF
N/A
SHOP
N/A
insights
Analysis
As of Q2 2026, AppFolio, Inc. trades at 7.5x EV/Revenue versus Shopify Inc. at 13.5x. On the Rule of 40, AppFolio, Inc. scores 40.6 compared to Shopify Inc.'s 55.0, placing Shopify Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 87% vs Shopify Inc. 48%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.