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AppFolio, Inc.

APPF Technology Software Application

AppFolio, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $950.8 million, up 19.7% from fiscal 2024.

Revenue: +18.6%
EPS: +38.3%
Free cash flow: +14.5%

Quarter to September 2026, against a year earlier

232.54 4.31 −1.82%

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Market cap: $8.3B
P/E: 48.8×
Fwd P/E: 44.1×
Dividend yield: —
F-score: 5/9
Altman Z: 37.76
Beneish M: −2.90
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	0.00	142.07	100.37	102.76	38.98	4,062.42	0.00	2,417.29	43.90	59.50
Piotroski F-Score Full definition →	5	8	5	6	6	4	5	8	6	5
P/S ratio Full definition →	7.31	9.70	10.63	14.61	19.90	11.65	7.95	9.72	11.26	8.81
Altman Z-Score Full definition →	20.79	34.54	16.10	18.60	37.62	24.32	20.50	35.61	53.12	37.76
P/FCF ratio Full definition →	0.00	83.51	321.42	0.00	0.00	0.00	0.00	195.47	54.08	38.09
Altman Z″-Score (non-manufacturers) Full definition →	0.64	3.91	4.06	1.51	6.85	5.54	4.26	6.75	10.89	9.77
P/Operating CF Full definition →	113.90	178.45	173.23	241.70	2,000.94	468.65	617.01	193.34	244.60	128.92
Beneish M-Score Full definition →	(3.36)	(3.08)	(2.82)	(1.73)	(0.82)	(2.54)	(3.57)	(3.04)	(1.78)	(2.90)
P/B ratio Full definition →	11.08	16.39	22.00	28.34	21.58	14.08	14.13	20.28	17.22	15.44
Price to Tangible BV Full definition →	12.90	18.20	28.71	71.72	28.91	18.24	18.33	25.24	23.93	20.57
EV/Sales Full definition →	7.15	9.45	10.42	14.65	19.67	11.58	7.82	9.53	11.03	8.65
EV/EBITDA Full definition →	479.54	61.64	57.85	116.35	156.38	204.42	0.00	142.17	52.41	43.54
EV/Operating CF Full definition →	65.68	46.24	54.60	96.43	126.24	117.56	145.43	98.10	46.57	33.97
EV/FCF Full definition →	(192.87)	81.34	314.91	(650.02)	(493.51)	(322.50)	(322.54)	191.75	52.98	37.39
Quick Ratio Full definition →	1.34	2.06	3.41	0.97	3.59	2.57	2.88	3.33	4.78	2.70
Current Ratio Full definition →	1.51	2.25	3.83	1.30	4.00	3.01	3.28	3.90	5.30	3.31
Net Debt/EBITDA Full definition →	(16.62)	(2.08)	(1.19)	0.31	(4.32)	(6.02)	4.17	(5.09)	(1.66)	(1.33)
Debt/Assets Full definition →	0.00%	0.00%	28.35%	18.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Debt/Equity Full definition →	0.00	0.00	0.54	0.37	0.00	0.00	0.00	0.00	0.00	0.00
Asset Turnover Full definition →	1.15	1.42	1.33	1.17	0.95	0.90	1.20	1.57	1.53	1.45
Operating CF/Net income Full definition →	(1.39)	3.02	1.82	1.07	0.30	34.43	(0.37)	22.31	0.92	1.72
Capex/Depreciation Full definition →	(1.54)	(1.00)	(0.99)	(1.13)	(1.54)	(1.02)	(0.62)	(0.34)	(0.23)	(0.18)
ROE Full definition →	(11.63%)	12.56%	22.57%	32.42%	75.81%	0.35%	(24.20%)	0.96%	49.98%	26.54%
ROA Full definition →	(9.05%)	9.58%	13.96%	16.65%	48.77%	0.26%	(17.26%)	0.68%	39.41%	21.42%
ROIC Full definition →	(12.10%)	14.90%	24.11%	2.85%	5.21%	(4.24%)	(42.88%)	0.70%	35.17%	32.80%
Return on Tangible Assets Full definition →	(46.17%)	26.53%	23.04%	124.81%	90.01%	0.75%	(40.98%)	1.17%	68.80%	52.25%
Average Days of Receivables Full definition →	8.68	8.60	10.59	10.78	11.84	12.79	12.77	12.18	11.19	14.15
Research and Development Expense of Revenue Full definition →	11.97%	11.53%	12.69%	15.43%	15.65%	18.36%	23.55%	24.40%	20.19%	20.03%
Selling, General and Administrative Expense of Revenue Full definition →	44.33%	34.71%	30.61%	33.59%	34.16%	36.31%	44.12%	32.40%	24.75%	25.19%
Intangible Assets out of Total Assets Full definition →	0.11	0.08	0.12	0.31	0.19	0.17	0.16	0.14	0.23	0.20
Share Based Compensation of Revenue Full definition →	4.07%	4.24%	3.33%	3.15%	3.32%	4.77%	9.16%	8.44%	7.60%	7.45%
Graham Net Nets Full definition →	0.01	0.02	0.01	(0.02)	0.02	0.01	0.02	0.03	0.03	0.02
Graham Number Full definition →	0.00	4.05	5.98	9.66	29.45	2.40	0.00	3.63	42.56	36.41
Earnings Yield Full definition →	(1.09%)	0.70%	1.00%	0.97%	2.57%	0.02%	(1.82%)	0.04%	2.28%	1.68%
Free Cash Flow Yield Full definition →	(0.51%)	1.20%	0.31%	(0.15%)	(0.20%)	(0.31%)	(0.30%)	0.51%	1.85%	2.63%
Revenue per Share Full definition →	3.15	4.25	5.57	7.53	9.05	10.39	13.48	17.41	21.91	26.40
Operating CF per Share Full definition →	0.34	0.87	1.06	1.14	1.41	1.02	0.72	1.69	5.19	6.72
Capex per Share Full definition →	(0.46)	(0.37)	(0.42)	(0.85)	(1.32)	(0.95)	(0.61)	(0.39)	(0.20)	(0.18)
Free Cash Flow per Share Full definition →	(0.12)	0.49	0.64	0.29	0.09	0.08	0.12	1.30	4.99	6.54
Cash per Share Full definition →	0.78	1.36	2.66	1.14	4.92	3.54	4.57	5.94	7.68	6.98
Shareholders Equity per Share Full definition →	2.08	2.51	2.69	3.88	8.34	8.60	7.58	8.34	14.32	15.07
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	2.08	2.51	2.69	3.88	8.34	8.60	7.58	8.34	14.32	15.07
Free Cash Flow Full definition →	(3.91)	16.70	21.86	9.81	3.22	2.67	4.14	46.42	180.97	235.51
Working Capital Full definition →	10.86	29.93	79.79	14.33	149.55	105.95	140.13	202.59	272.12	246.47
Capital Expenditures Full definition →	(15.41)	(12.67)	(14.41)	(29.08)	(45.08)	(32.72)	(21.23)	(13.87)	(7.19)	(6.59)
Net Current Asset Value Full definition →	9.32	28.67	24.10	(66.36)	95.79	47.96	85.80	160.78	228.01	206.93
EV/EBIT Full definition →	0.00	145.50	100.74	580.40	623.26	0.00	0.00	6,141.28	64.60	53.78
Capex to Sales Full definition →	0.15	0.09	0.08	0.11	0.15	0.09	0.05	0.02	0.01	0.01
Price to Operating Income Full definition →	0.00	149.39	102.82	578.87	630.57	0.00	0.00	6,260.42	65.94	54.79
Other line items
Depreciation/Fixed assets Full definition →	1.41	1.90	2.12	1.75	1.10	1.06	1.30	1.43	1.29	1.55
Cash ROIC Full definition →	(4.08%)	12.75%	9.41%	4.47%	0.71%	0.64%	0.97%	9.12%	22.69%	29.67%
Accounts Receivable Turnover Full definition →	46.32	48.76	42.70	39.15	35.20	31.73	32.43	33.35	35.25	31.06
Accounts Payable Turnover Full definition →	27.00	71.47	70.35	59.65	80.24	104.92	91.85	131.75	160.31	106.24
Inventory Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	7.66	4.03	7.35	6.92	3.19	4.32	4.71	1.75	3.08	4.36
Days of Inventory on Hand Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	2.28	2.95	4.45	6.54	8.81	11.33	14.55	18.61	22.53	30.61
Average Payables Full definition →	1.65	0.77	1.05	1.70	1.48	1.37	2.09	1.81	1.76	3.25
Average Assets Full definition →	91.53	101.42	142.99	217.92	324.79	398.75	394.62	395.05	517.78	657.82
Average Common Equity Full definition →	71.19	77.38	88.46	111.90	208.94	291.65	281.46	281.43	408.30	530.93

Show all line items

Columns are period end dates · fundamentals updated 2 Nov 2026

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