What are AppFolio's profit margins?

AppFolio (APPF) runs a 63.7% gross margin and a 17.1% operating margin, with a 15.3% net margin.

Where do AppFolio's ratios come from?

Every ratio is computed from AppFolio's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

AppFolio APPF Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	63.7%+0.1pp	63.7%+0.2pp	63.5%-0.5pp	63.9%-0.1pp	64%-0.5pp
Operating margin	17.1%+1.0pp	16.1%+1.5pp	14.6%-1.6pp	16.2%-0.2pp	16.4%-0.7pp
Net margin	15.3%+0.4pp	14.8%-7.7pp	22.5%-1.1pp	23.5%-0.3pp	23.9%-1.8pp
EBITDA margin	19.2%+0.8pp	18.5%+1.3pp	17.1%-1.6pp	18.7%-0.2pp	18.9%-0.6pp
Free cash flow margin	23.6%-1.5pp	25.1%+1.8pp	23.4%+2.0pp	21.4%-0.8pp	22.2%-1.3pp
Returns
Return on equity	32.6%+6.1pp	26.5%-18.2pp	44.7%-4.4pp	49.1%0.0pp	49.1%-0.9pp
Return on assets	26.5%+5.1pp	21.4%-13.6pp	35%-3.8pp	38.8%-0.4pp	39.2%-0.2pp
Return on invested capital	36.1%+9.2pp	27%-4.0pp	31%-5.0pp	36%+0.8pp	35.2%+1.7pp
Efficiency
Asset turnover	1.7×+0.3×	1.4×-0.1×	1.6×-0.1×	1.6×0.0×	1.6×+0.1×
Liquidity
Current ratio	3.5×+0.2×	3.3×+0.3×	3×+0.1×	2.9×-1.7×	4.6×-0.7×
Quick ratio	3.5×+0.2×	3.3×+0.3×	3×+0.1×	2.9×-1.7×	4.6×-0.7×
Cash ratio	2×+1.0×	1×+0.2×	0.8×-0.3×	1.1×+0.1×	1×+0.3×
Leverage
Debt-to-equity	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	-0.6×-0.2×	-0.4×-0.2×	-0.2×0.0×	-0.2×-0.1×	-0.1×-0.1×
Interest coverage	24.3×+5.6×	18.7×+5.0×	13.8×+2.1×	11.7×+2.0×	9.7×0.0×
Per Share
Book value per share	$13.13-12.1%	$14.94+8.6%	$13.76+9.3%	$12.59-0.2%	$12.61-10.7%
Valuation
Market capitalization	$5.68B-32.0%	$8.36B-15.4%	$9.88B+17.9%	$8.38B+4.7%	$8.01B-10.7%
Enterprise value	$5.57B-32.8%	$8.29B-15.8%	$9.85B+18.0%	$8.35B+4.5%	$7.99B-10.9%
Price / earnings	37.4×-21.9×	59.3×+10.8×	48.5×+7.3×	41.3×+0.6×	40.7×-3.2×
Price / sales	5.7×-3.1×	8.8×-2.1×	10.9×+1.2×	9.7×0.0×	9.7×-1.6×
Price / book	12.1×-3.3×	15.4×-4.4×	19.8×+1.4×	18.4×+1.1×	17.3×+0.1×
EV / EBITDA	29.1×-18.1×	47.2×-16.2×	63.5×+11.8×	51.6×+0.4×	51.2×-6.5×
EV / sales	5.6×-3.1×	8.7×-2.1×	10.9×+1.2×	9.7×0.0×	9.7×-1.6×
Free cash flow yield	4.1%+1.3pp	2.9%+0.7pp	2.1%-0.1pp	2.2%-0.1pp	2.3%+0.2pp
Earnings yield	2.7%+1.0pp	1.7%-0.4pp	2.1%-0.4pp	2.4%0.0pp	2.5%+0.2pp

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Questions, answered.

What are AppFolio's profit margins?: AppFolio (APPF) runs a 63.7% gross margin and a 17.1% operating margin, with a 15.3% net margin.
Where do AppFolio's ratios come from?: Every ratio is computed from AppFolio's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.