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

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	63.7%-0.2pp	63.7%-0.8pp	63.5%-1.5pp	63.9%-0.3pp	64%+0.7pp
Operating margin	17.1%+0.7pp	16.1%-1.0pp	14.6%-3.9pp	16.2%+2.6pp	16.4%+7.2pp
Net margin	15.3%-8.6pp	14.8%-10.9pp	22.5%+5.2pp	23.5%+6.2pp	23.9%+12.5pp
EBITDA margin	19.2%+0.3pp	18.5%-1.1pp	17.1%-4.4pp	18.7%+1.6pp	18.9%+5.7pp
Free cash flow margin	23.6%+1.4pp	25.1%+1.7pp	23.4%0.0pp	21.4%+0.1pp	22.2%+8.5pp
Returns
Return on equity	32.6%-16.5pp	26.5%-23.4pp	44.7%+5.7pp	49.1%+7.3pp	49.1%+22.7pp
Return on assets	26.5%-12.7pp	21.4%-18.0pp	35%+5.8pp	38.8%+8.7pp	39.2%+20.3pp
Return on invested capital	36.1%+1.0pp	27%-6.5pp	31%-6.7pp	36%+3.2pp	35.2%+11.0pp
Efficiency
Asset turnover	1.7×+0.1×	1.4×-0.1×	1.6×-0.1×	1.6×-0.1×	1.6×0.0×
Liquidity
Current ratio	3.5×-1.1×	3.3×-2.0×	3×-3.2×	2.9×-2.6×	4.6×-0.8×
Quick ratio	3.5×-1.1×	3.3×-2.0×	3×-3.2×	2.9×-2.6×	4.6×-0.8×
Cash ratio	2×+1.1×	1×+0.3×	0.8×-0.2×	1.1×+0.1×	1×-0.1×
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×-0.5×	-0.4×-0.4×	-0.2×-0.1×	-0.2×-0.1×	-0.1×+0.1×
Interest coverage	24.3×+14.6×	18.7×+9.0×	13.8×+2.8×	11.7×+2.5×	9.7×+2.6×
Per Share
Book value per share	$13.13+4.1%	$14.94+5.8%	$13.76+22.5%	$12.59+24.5%	$12.61+36.3%
Valuation
Market capitalization	$5.68B-29.0%	$8.36B-6.8%	$9.88B+15.7%	$8.38B-5.4%	$8.01B-9.5%
Enterprise value	$5.57B-30.3%	$8.29B-7.5%	$9.85B+15.6%	$8.35B-5.6%	$7.99B-9.6%
Price / earnings	37.4×-3.3×	59.3×+15.4×	48.5×-16.4×	41.3×-29.6×	40.7×-75.0×
Price / sales	5.7×-4.0×	8.8×-2.5×	10.9×-0.3×	9.7×-2.6×	9.7×-3.5×
Price / book	12.1×-5.2×	15.4×-1.9×	19.8×-0.9×	18.4×-5.5×	17.3×-8.8×
EV / EBITDA	29.1×-22.1×	47.2×-10.6×	63.5×+11.5×	51.6×-19.6×	51.2×-48.2×
EV / sales	5.6×-4.1×	8.7×-2.6×	10.9×-0.3×	9.7×-2.6×	9.7×-3.5×
Free cash flow yield	4.1%+1.8pp	2.9%+0.8pp	2.1%+0.1pp	2.2%+0.5pp	2.3%+1.2pp
Earnings yield	2.7%+0.2pp	1.7%-0.6pp	2.1%+0.5pp	2.4%+1.0pp	2.5%+1.6pp

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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.