APPF
AppFolio, Inc.
APPF's fundamentals are strong: revenue grew 20% and its operating margin rose 4 points to 19%, though earnings per share fell 15%. At 47x earnings, it's trading in line with its usual 50x. Analysts expect that strong growth to continue.
APPF Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
APPF's revenue, profitability, cash flow and balance sheet are all currently healthy.
APPF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 28x | $223 | — |
| Cheap | 36x | $170 | -24% |
| Current | 47x | $223 | — |
| Fair | 50x | $235 | +5.4% |
| Expensive | 178x | $844 | +279% |
Historical ranges are pointers, not guarantees.
APPF's PE is in its fair range at 47x. If earnings grow as analysts expect, today's price would be 28x next year's earnings, in its cheap range.
APPF Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for APPF, with profitability improving.
APPF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.98 | +68% |
| Q3 2026 | $4.74 | -15% |
| Q2 2026 | $4.38 | -21% |
| Q1 2026 | $4.20 | -22% |
| Q4 2025 | $3.88 | -30% |
| Q3 2025 | $5.57 | +53% |
| Q2 2025 | $5.54 | +61% |
| Q1 2025 | $5.36 | +154% |
| Q4 2024 | $5.55 | +7829% |
APPF earned $4.74 per share over the past year, down 15% from the year before.
APPF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $295.7M | +19% |
| Q2 2026 | $281.1M | +19% |
| Q1 2026 | $262.2M | +20% |
| Q4 2025 | $248.2M | +22% |
| Q3 2025 | $249.4M | +21% |
| Q2 2025 | $235.6M | +19% |
| Q1 2025 | $217.7M | +16% |
| Q4 2024 | $203.7M | +19% |
APPF's revenue has grown year over year every quarter since late 2020: $296M last quarter, up 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +5.4 points |
| Q2 2026 | 19% | +1.6 points |
| Q1 2026 | 19% | +3.8 points |
| Q4 2025 | 18% | +6.3 points |
| Q3 2025 | 14% | -6.6 points |
| Q2 2025 | 17% | -1.1 points |
| Q1 2025 | 16% | -2.7 points |
| Q4 2024 | 11% | -5.2 points |
APPF's operating margin was 19% last quarter, up 5.4 points from the same quarter a year ago, near the top of its range since 2019.
APPF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $96.8M | +14% |
| Q2 2026 | $87.6M | +67% |
| Q1 2026 | $34.1M | -11% |
| Q4 2025 | $63.7M | +75% |
| Q3 2025 | $84.7M | +47% |
| Q2 2025 | $52.4M | +3% |
| Q1 2025 | $38.2M | -7.9% |
| Q4 2024 | $36.4M | +30% |
APPF generated $282M in free cash flow over the past year, up 33% from the year before.
APPF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +117K shares |
| 1 year | -1.9% | -681K shares |
| 3 years | -2.5% | -904K shares |
| 5 years | +2.8% | +964K shares |
| Available history | 0% | +11K shares |
APPF has 36M diluted shares, down 1.9% from a year ago, with $129M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.2M |
| Q2 2026 | — |
| Q1 2026 | $125M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $50M |
| Q1 2025 | $95.8M |
| Q4 2021 | — |
APPF spent $129M buying back its own shares over the past year.
APPF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.2x | Net Cash |
| Q2 2026 | -1.1x | Net Cash |
| Q1 2026 | -0.8x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.5x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | -0.3x | Net Cash |
APPF has more cash than debt.
APPF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.2 | Neutral |
| Stochastic | 70.3 | Neutral |
APPF's weekly RSI is 59 (neutral) and its Stochastic is 70 (neutral).
APPF PE vs Technology Sector
| Metric | APPF | Sector median | Relative |
|---|---|---|---|
| PE | 47x | 28x | 69% above |
| PE % | 46 | 35 | 11 pts above |
APPF is trading at 47x earnings, a 69% premium to the Technology sector's median of 28x.
APPF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $212.4 | 4.9% above |
| 20 week MA | $203.5 | 9.5% above |
| 50 week MA | $191.3 | 16% above |
| 100 week MA | $215.4 | 3.4% above |
| 200 week MA | $205.2 | 8.6% above |
APPF is in an uptrend: it's above all five of its weekly moving averages, and 8.6% above its 200-week average.
APPF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $111.1 | $180.6 | +63% |
| 2021 | $180.6 | $127.4 | -29% |
| 2022 | $127.4 | $104.6 | -18% |
| 2023 | $104.6 | $173.2 | +66% |
| 2024 | $173.2 | $249.9 | +44% |
| 2025 | $249.9 | $237.3 | -5% |
| 2026 YTD | $237.3 | $222.8 | -6.1% |
APPF has finished lower in three of the last six years. It's down 6.1% so far in 2026.