analyticsVertical SaaS
Data as of Q1 2026
Summary Verdict
NET: 2—APPF: 3wins
Rule of 40
41.1NET
33.4APPF
check_circleNET leads
Revenue Growth
31.4%NET
21.5%APPF
check_circleNET leads
Gross Margin
74%NET
86%APPF
check_circleAPPF leads
FCF Margin
9.7%NET
11.9%APPF
check_circleAPPF leads
Operating Margin
-10.0%NET
16.6%APPF
check_circleAPPF leads
NRR
—NET
—APPF
Metric
Rule of 40Efficiency score
NET
41.1check_circle
APPF
33.4
Revenue GrowthYoY
NET
31.4%check_circle
APPF
21.5%
Gross Margin% of revenue
NET
74%
APPF
86%check_circle
FCF MarginFree cash flow
NET
9.7%
APPF
11.9%check_circle
Operating MarginGAAP
NET
-10.0%
APPF
16.6%check_circle
NRRNet retention
NET
N/A
APPF
N/A
EV / RevenueValuation multiple
NET
40.2x
APPF
6.2xcheck_circle
Market CapUSD
NET
$88.4Bcheck_circle
APPF
$6.0B
ARR GrowthYoY
NET
N/A
APPF
N/A
CAC PaybackMonths to recover
NET
N/A
APPF
N/A
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Analysis
As of Q1 2026, Cloudflare, Inc. trades at 40.2x EV/Revenue versus AppFolio, Inc. at 6.2x. On the Rule of 40, Cloudflare, Inc. scores 41.1 compared to AppFolio, Inc.'s 33.4, placing Cloudflare, Inc. ahead in operating efficiency. Gross margins stand at Cloudflare, Inc. 74% vs AppFolio, Inc. 86%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.