AppFolio, Inc. (APPF) Financial Ratios
13 years of historical data (2013–2025) · Technology · Software - Application
EV/EBITDA
↓
34.06
↓-74% vs avg
5yr avg: 128.60
30Y Low47.9·High65.5
P/FCF
↓
25.18
↓-94% vs avg
5yr avg: 406.58
30Y Low35.4·High196.0
P/B Ratio
↑
11.19
↓-32% vs avg
5yr avg: 16.54
30Y Low4.3·High29.6
ROE
↑
26.5%
↓+147% vs avg
5yr avg: 10.7%
30Y Low-148%·High76%
Debt/EBITDA
↓
0.41
↓-66% vs avg
5yr avg: 1.20
30Y Low0.3·High2.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
APPF Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
AppFolio, Inc. trades at 43.1x earnings, 97% below its 5-year average of 1660.7x, sitting at the 17th percentile of its historical range. Compared to the Technology sector median P/E of 27.5x, the stock trades at a premium of 57%. On a free-cash-flow basis, the stock trades at 25.2x P/FCF, 94% below the 5-year average of 406.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.0B | $8.5B | $9.1B | $6.3B | $3.7B | $4.3B | $6.4B | $3.9B | $2.1B | $1.5B | $800M |
| Enterprise Value | $6.0B | $8.4B | $9.1B | $6.3B | $3.7B | $4.3B | $6.3B | $4.0B | $2.1B | $1.4B | $790M |
| P/E Ratio → | 43.09 | 59.96 | 44.45 | 2334.77 | — | 4203.47 | 40.55 | 107.79 | 105.75 | 148.21 | — |
| P/S Ratio | 6.33 | 8.89 | 11.43 | 10.17 | 7.82 | 12.03 | 20.74 | 15.28 | 11.08 | 10.14 | 7.58 |
| P/B Ratio | 11.19 | 15.58 | 17.48 | 21.22 | 13.89 | 14.53 | 22.49 | 29.64 | 22.93 | 17.15 | 11.49 |
| P/FCF | 25.18 | 35.37 | 48.75 | 135.92 | 195.98 | 1616.90 | 1997.44 | 398.84 | 96.33 | 87.34 | — |
| P/OCF | 24.85 | 34.91 | 48.23 | 104.65 | 145.45 | 122.12 | 133.12 | 100.56 | 58.07 | 49.67 | 69.60 |
P/E links to full P/E history page with 30-year chart
APPF EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
AppFolio, Inc.'s enterprise value stands at 34.1x EBITDA, 74% below its 5-year average of 128.6x. The Technology sector median is 17.4x, placing the stock at a 96% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.85 | 11.43 | 10.16 | 7.78 | 12.03 | 20.42 | 15.54 | 10.95 | 10.03 | 7.48 |
| EV / EBITDA | 34.06 | 47.93 | 58.47 | 213.01 | — | 194.97 | 157.21 | 120.64 | 60.81 | 65.47 | 522.31 |
| EV / EBIT | 39.11 | 52.24 | 60.36 | 6546.33 | — | — | 31.87 | 614.40 | 105.91 | 154.54 | — |
| EV / FCF | — | 35.22 | 48.75 | 135.81 | 195.07 | 1616.81 | 1966.91 | 405.86 | 95.22 | 86.38 | — |
APPF Profitability
Margins and return-on-capital ratios measuring operating efficiency
AppFolio, Inc. earns an operating margin of 16.1%. Operating margins have expanded from 0.2% to 16.1% over the past 3 years, signaling improving operational efficiency. ROE of 26.5% indicates solid capital efficiency. ROIC of 22.4% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.3% | 61.3% | 62.0% | 61.6% | 59.3% | 59.9% | 61.6% | 60.3% | 61.3% | 61.6% | 57.7% |
| Operating Margin | 16.1% | 16.1% | 17.1% | 0.2% | -15.3% | -3.3% | 3.2% | 2.5% | 10.3% | 6.5% | -8.0% |
| Net Profit Margin | 14.8% | 14.8% | 25.7% | 0.4% | -14.4% | 0.3% | 51.1% | 14.2% | 10.5% | 6.8% | -7.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 26.5% | 26.5% | 50.0% | 1.0% | -24.2% | 0.4% | 75.8% | 32.4% | 22.6% | 12.6% | -11.6% |
| ROA | 20.9% | 20.9% | 39.4% | 0.7% | -17.3% | 0.3% | 48.8% | 16.6% | 14.0% | 9.6% | -9.0% |
| ROIC | 22.4% | 22.4% | 25.1% | 0.3% | -19.9% | -3.7% | 3.8% | 3.6% | 21.6% | 10.9% | -10.6% |
| ROCE | 25.9% | 25.9% | 30.1% | 0.3% | -21.4% | -3.4% | 3.5% | 3.6% | 16.8% | 11.8% | -11.6% |
APPF Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
AppFolio, Inc. carries a Debt/EBITDA ratio of 0.4x, which is very conservative (86% below the sector average of 2.9x). The company holds a net cash position — cash of $107M exceeds total debt of $71M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.08 | 0.15 | 0.20 | 0.19 | 0.15 | 0.64 | 0.54 | — | — |
| Debt / EBITDA | 0.41 | 0.41 | 0.27 | 1.51 | — | 2.60 | 1.04 | 2.57 | 1.46 | — | — |
| Net Debt / Equity | — | -0.07 | -0.00 | -0.02 | -0.06 | -0.00 | -0.34 | 0.52 | -0.26 | -0.19 | -0.15 |
| Net Debt / EBITDA | -0.20 | -0.20 | -0.01 | -0.16 | — | -0.01 | -2.44 | 2.09 | -0.71 | -0.73 | -7.08 |
| Debt / FCF | — | -0.15 | -0.01 | -0.10 | -0.91 | -0.09 | -30.53 | 7.03 | -1.11 | -0.96 | — |
| Interest Coverage | — | — | — | — | — | — | 107.45 | 3.92 | — | 17.45 | -34.24 |
Net cash position: cash ($107M) exceeds total debt ($71M)
APPF Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
AppFolio, Inc.'s current ratio of 3.20x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 3.90x to 3.20x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.20 | 3.20 | 5.30 | 3.90 | 3.28 | 3.01 | 4.00 | 1.30 | 3.83 | 2.25 | 1.51 |
| Quick Ratio | 3.20 | 3.20 | 5.30 | 3.90 | 3.28 | 3.01 | 4.00 | 1.30 | 3.83 | 2.25 | 1.51 |
| Cash Ratio | 2.35 | 2.35 | 4.40 | 3.03 | 2.61 | 2.33 | 3.38 | 0.82 | 3.22 | 1.92 | 1.23 |
| Asset Turnover | — | 1.32 | 1.27 | 1.52 | 1.24 | 0.88 | 0.80 | 0.98 | 1.08 | 1.30 | 1.14 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 24.57 | 11.19 | 12.18 | 12.77 | 12.79 | 11.84 | 10.78 | 10.59 | 8.60 | 8.68 |
APPF Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
AppFolio, Inc. returns 3.1% to shareholders annually primarily through share buybacks. The earnings yield of 2.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.3% | 1.7% | 2.2% | 0.0% | — | 0.0% | 2.5% | 0.9% | 0.9% | 0.7% | — |
| FCF Yield | 4.0% | 2.8% | 2.1% | 0.7% | 0.5% | 0.1% | 0.1% | 0.3% | 1.0% | 1.1% | — |
| Buyback Yield | 3.1% | 2.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 1.0% | 0.1% | 0.0% |
| Total Shareholder Yield | 3.1% | 2.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 1.0% | 0.1% | 0.0% |
| Shares Outstanding | — | $36M | $37M | $36M | $35M | $36M | $36M | $36M | $36M | $35M | $34M |
Peer Comparison
Compare APPF with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 APPFYou | $6B | 43.1 | 34.1 | 25.2 | 61.3% | 16.1% | 26.5% | 22.4% | 0.4 |
 ROP | $36B | 24.7 | 14.5 | 14.5 | 69.2% | 28.3% | 7.9% | 6.1% | 3.0 |
 PCTY | $6B | 25.5 | 13.2 | 16.1 | 68.8% | 19.1% | 20.0% | 26.2% | 0.5 |
 PAYC | $7B | 15.6 | 8.9 | 16.8 | 78.6% | 27.6% | 27.4% | 30.7% | 0.2 |
 TYL | $14B | 44.5 | 26.1 | 21.2 | 44.0% | 15.3% | 8.9% | 8.1% | 1.3 |
 REAL | $4B | -19.1 | 449.7 | 205.1 | 69.8% | -3.5% | — | — | 51.1 |
 OPEN | $5B | -3.2 | — | 5.0 | 8.0% | -6.6% | -151.3% | -16.6% | — |
 CSGP | $14B | 2052.4 | 81.5 | 352.2 | 75.2% | -2.2% | 0.1% | -0.9% | 6.7 |
 HOOD | $71B | 38.6 | 37.8 | 43.9 | 83.3% | 46.8% | 22.0% | 7.9% | 7.1 |
 EXPI | $1B | -46.6 | — | 9.6 | 7.0% | -0.4% | -10.1% | -15.3% | — |
 NMRK | $3B | 24.4 | 11.4 | 21.5 | 94.6% | 7.0% | 7.7% | 5.2% | 4.8 |
| Technology Median | — | 27.5 | 17.4 | 19.8 | 48.6% | -0.5% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 13 years · Updated daily
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Start ComparisonAPPF — Frequently Asked Questions
Quick answers to the most common questions about buying APPF stock.
What is AppFolio, Inc.'s P/E ratio?
AppFolio, Inc.'s current P/E ratio is 43.1x. The historical average is 84.5x. This places it at the 17th percentile of its historical range.
What is AppFolio, Inc.'s EV/EBITDA?
AppFolio, Inc.'s current EV/EBITDA is 34.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 58.2x.
What is AppFolio, Inc.'s ROE?
AppFolio, Inc.'s return on equity (ROE) is 26.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 3.4%.
Is APPF stock overvalued?
Based on historical data, AppFolio, Inc. is trading at a P/E of 43.1x. This is at the 17th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are AppFolio, Inc.'s profit margins?
AppFolio, Inc. has 61.3% gross margin and 16.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does AppFolio, Inc. have?
AppFolio, Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.