AppFolio, Inc. vs Toast, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q1 2026
Summary Verdict
APPF: 4—TOST: 1wins
Rule of 40
33.4APPF
25.9TOST
check_circleAPPF leads
Revenue Growth
21.5%APPF
24.0%TOST
check_circleTOST leads
Gross Margin
86%APPF
26%TOST
check_circleAPPF leads
FCF Margin
11.9%APPF
1.9%TOST
check_circleAPPF leads
Operating Margin
16.6%APPF
5.2%TOST
check_circleAPPF leads
NRR
—APPF
—TOST
Metric
Rule of 40Efficiency score
APPF
33.4check_circle
TOST
25.9
Revenue GrowthYoY
APPF
21.5%
TOST
24.0%check_circle
Gross Margin% of revenue
APPF
86%check_circle
TOST
26%
FCF MarginFree cash flow
APPF
11.9%check_circle
TOST
1.9%
Operating MarginGAAP
APPF
16.6%check_circle
TOST
5.2%
NRRNet retention
APPF
N/A
TOST
N/A
EV / RevenueValuation multiple
APPF
6.5x
TOST
2.6xcheck_circle
Market CapUSD
APPF
$6.3B
TOST
$17.0Bcheck_circle
ARR GrowthYoY
APPF
N/A
TOST
N/A
CAC PaybackMonths to recover
APPF
N/A
TOST
N/A
insights
Analysis
As of Q1 2026, AppFolio, Inc. trades at 6.5x EV/Revenue versus Toast, Inc. at 2.6x. On the Rule of 40, AppFolio, Inc. scores 33.4 compared to Toast, Inc.'s 25.9, placing AppFolio, Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 86% vs Toast, Inc. 26%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.