What is AppFolio's cash ratio?

AppFolio (APPF) reported cash ratio of 2× in Q1 2026.

How has AppFolio's cash ratio changed year-over-year?

AppFolio's cash ratio increased by 109.2% year-over-year, from 1× to 2×.

What is the long-term trend for AppFolio's cash ratio?

Over 5 years (2020 to 2025), AppFolio's cash ratio has grown at a -18.7% compound annual growth rate (CAGR), from 2.8× to 1×.

What does cash ratio mean?

Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.

AppFolio APPF Cash ratio

Cash ratio at other companies

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3.1×-0.5×

Fidelity National Information ServicesFIS

0.1×0.0×

Procore TechnologiesPCOR

0.5×0.0×

APi GroupAPG

0.3×0.0×

Manhattan AssociatesMANH

0.5×0.0×

SS&C TechnologiesSSNC

0.1×0.0×

Other financials

Income statement

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Revenue$262.2M+20.4%

Gross profit$167.2M+21.0%

Operating income$50.7M+50.2%

Net income$42.4M+35.2%

EPS (diluted)$1.18+37.2%

Balance sheet

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Cash & equivalents$147.7M+158%

Total debt$37.0M-9.1%

Total equity$470.2M+1.8%

Total assets$580.6M+2.8%

Cash flow

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Operating cash flow$34.3M-10.8%

CapEx$231.0K+0.4%

Free cash flow$34.1M-10.9%

Valuation

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Market cap$5.36B-29.0%

Enterprise value$5.25B-30.3%

P/E35.3×-3.1×

P/S5.4×-3.8×

Profitability

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Gross margin63.7%-0.2pp

Operating margin17.1%+0.7pp

Net margin15.3%-8.6pp

FCF margin23.6%+1.4pp

Returns & leverage

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Return on equity32.6%-16.5pp

Debt / equity0.1×0.0×

Current ratio3.5×-1.1×

Where this comes from

Calculated from AppFolio’s reported figures.

cash and equivalents/total current liabilities=2×

Based on the most recent quarter.

The official record: AppFolio’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is AppFolio's cash ratio?: AppFolio (APPF) reported cash ratio of 2× in Q1 2026.
How has AppFolio's cash ratio changed year-over-year?: AppFolio's cash ratio increased by 109.2% year-over-year, from 1× to 2×.
What is the long-term trend for AppFolio's cash ratio?: Over 5 years (2020 to 2025), AppFolio's cash ratio has grown at a -18.7% compound annual growth rate (CAGR), from 2.8× to 1×.
What does cash ratio mean?: Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.