analyticsVertical SaaS
Data as of Q1 2026
Summary Verdict
MANH: 2—APPF: 3wins
Rule of 40
39.1MANH
46.3APPF
check_circleAPPF leads
Revenue Growth
4.9%MANH
21.5%APPF
check_circleAPPF leads
Gross Margin
76%MANH
84%APPF
check_circleAPPF leads
FCF Margin
34.2%MANH
24.8%APPF
check_circleMANH leads
Operating Margin
25.6%MANH
15.8%APPF
check_circleMANH leads
NRR
—MANH
—APPF
Metric
Rule of 40Efficiency score
MANH
39.1
APPF
46.3check_circle
Revenue GrowthYoY
MANH
4.9%
APPF
21.5%check_circle
Gross Margin% of revenue
MANH
76%
APPF
84%check_circle
FCF MarginFree cash flow
MANH
34.2%check_circle
APPF
24.8%
Operating MarginGAAP
MANH
25.6%check_circle
APPF
15.8%
NRRNet retention
MANH
N/A
APPF
N/A
EV / RevenueValuation multiple
MANH
7.5x
APPF
6.3xcheck_circle
Market CapUSD
MANH
$8.4Bcheck_circle
APPF
$6.1B
ARR GrowthYoY
MANH
N/A
APPF
N/A
CAC PaybackMonths to recover
MANH
N/A
APPF
N/A
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Analysis
As of Q1 2026, MANHATTAN ASSOCIATES INC trades at 7.5x EV/Revenue versus AppFolio, Inc. at 6.3x. On the Rule of 40, MANHATTAN ASSOCIATES INC scores 39.1 compared to AppFolio, Inc.'s 46.3, placing AppFolio, Inc. ahead in operating efficiency. Gross margins stand at MANHATTAN ASSOCIATES INC 76% vs AppFolio, Inc. 84%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.