AppFolio, Inc. vs Shopify Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q1 2026
Summary Verdict
APPF: 2—SHOP: 3wins
Rule of 40
33.4APPF
40.5SHOP
check_circleSHOP leads
Revenue Growth
21.5%APPF
24.5%SHOP
check_circleSHOP leads
Gross Margin
86%APPF
49%SHOP
check_circleAPPF leads
FCF Margin
11.9%APPF
16.0%SHOP
check_circleSHOP leads
Operating Margin
16.6%APPF
11.0%SHOP
check_circleAPPF leads
NRR
—APPF
—SHOP
Metric
Rule of 40Efficiency score
APPF
33.4
SHOP
40.5check_circle
Revenue GrowthYoY
APPF
21.5%
SHOP
24.5%check_circle
Gross Margin% of revenue
APPF
86%check_circle
SHOP
49%
FCF MarginFree cash flow
APPF
11.9%
SHOP
16.0%check_circle
Operating MarginGAAP
APPF
16.6%check_circle
SHOP
11.0%
NRRNet retention
APPF
N/A
SHOP
N/A
EV / RevenueValuation multiple
APPF
6.5xcheck_circle
SHOP
14.3x
Market CapUSD
APPF
$6.3B
SHOP
$159.0Bcheck_circle
ARR GrowthYoY
APPF
N/A
SHOP
N/A
CAC PaybackMonths to recover
APPF
N/A
SHOP
N/A
insights
Analysis
As of Q1 2026, AppFolio, Inc. trades at 6.5x EV/Revenue versus Shopify Inc. at 14.3x. On the Rule of 40, AppFolio, Inc. scores 33.4 compared to Shopify Inc.'s 40.5, placing Shopify Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 86% vs Shopify Inc. 49%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.