AppFolio, Inc. vs Toast, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q2 2026
Summary Verdict
APPF: 4—TOST: 1wins
Rule of 40
40.6APPF
37.3TOST
check_circleAPPF leads
Revenue Growth
29.5%APPF
35.5%TOST
check_circleTOST leads
Gross Margin
87%APPF
27%TOST
check_circleAPPF leads
FCF Margin
11.2%APPF
1.8%TOST
check_circleAPPF leads
Operating Margin
17.4%APPF
6.3%TOST
check_circleAPPF leads
NRR
—APPF
—TOST
Metric
Rule of 40Efficiency score
APPF
40.6check_circle
TOST
37.3
Revenue GrowthYoY
APPF
29.5%
TOST
35.5%check_circle
Gross Margin% of revenue
APPF
87%check_circle
TOST
27%
FCF MarginFree cash flow
APPF
11.2%check_circle
TOST
1.8%
Operating MarginGAAP
APPF
17.4%check_circle
TOST
6.3%
NRRNet retention
APPF
N/A
TOST
N/A
EV / RevenueValuation multiple
APPF
7.5x
TOST
2.4xcheck_circle
Market CapUSD
APPF
$7.7B
TOST
$17.2Bcheck_circle
ARR GrowthYoY
APPF
N/A
TOST
N/A
CAC PaybackMonths to recover
APPF
N/A
TOST
N/A
insights
Analysis
As of Q2 2026, AppFolio, Inc. trades at 7.5x EV/Revenue versus Toast, Inc. at 2.4x. On the Rule of 40, AppFolio, Inc. scores 40.6 compared to Toast, Inc.'s 37.3, placing AppFolio, Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 87% vs Toast, Inc. 27%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.