AppFolio, Inc. vs SPS Commerce, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q1 2026
Summary Verdict
APPF: 3—SPSC: 2wins
Rule of 40
33.4APPF
35.0SPSC
check_circleSPSC leads
Revenue Growth
21.5%APPF
17.8%SPSC
check_circleAPPF leads
Gross Margin
86%APPF
69%SPSC
check_circleAPPF leads
FCF Margin
11.9%APPF
17.2%SPSC
check_circleSPSC leads
Operating Margin
16.6%APPF
14.4%SPSC
check_circleAPPF leads
NRR
—APPF
—SPSC
Metric
Rule of 40Efficiency score
APPF
33.4
SPSC
35.0check_circle
Revenue GrowthYoY
APPF
21.5%check_circle
SPSC
17.8%
Gross Margin% of revenue
APPF
86%check_circle
SPSC
69%
FCF MarginFree cash flow
APPF
11.9%
SPSC
17.2%check_circle
Operating MarginGAAP
APPF
16.6%check_circle
SPSC
14.4%
NRRNet retention
APPF
N/A
SPSC
N/A
EV / RevenueValuation multiple
APPF
6.5x
SPSC
N/A
Market CapUSD
APPF
$6.3B
SPSC
N/A
ARR GrowthYoY
APPF
N/A
SPSC
N/A
CAC PaybackMonths to recover
APPF
N/A
SPSC
N/A
insights
Analysis
As of Q1 2026, AppFolio, Inc. trades at 6.5x EV/Revenue versus SPS Commerce, Inc. at N/A. On the Rule of 40, AppFolio, Inc. scores 33.4 compared to SPS Commerce, Inc.'s 35.0, placing SPS Commerce, Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 86% vs SPS Commerce, Inc. 69%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.