13 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 25.1% per year over the past 5 years.
Net income has grown slower than revenue (-2.3% vs 25.1% per year).
Operating margin has expanded, at 16.1% in the latest year.
Free cash flow has grown 52.2% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$951M
$141M
0.0%
16.1%
$239M
—
$107M
2024
$794M
$204M
0.0%
17.1%
$186M
—
$43M
2023
$620M
$3M
0.0%
0.2%
$51M
—
$50M
2022
$472M
-$68M
0.0%
-15.3%
$19M
—
$71M
2021
$359M
$1M
59.9%
-3.3%
$27M
—
$58M
2020
$310M
$158M
61.6%
3.2%
$29M
—
$140M
2019
$256M
$36M
60.3%
2.5%
$31M
$49M
$16M
2018
$190M
$20M
61.3%
10.3%
$34M
$50M
$74M
2017
$144M
$10M
61.6%
6.5%
$27M
$0
$16M
2016
$106M
-$8M
57.7%
-8.0%
$7M
—
$11M
2015
—
-$16M
—
—
-$11M
—
$12M
2014
—
-$9M
—
—
-$1M
$0
$5M
2013
—
-$7M
—
—
-$6M
—
$11M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$262M
$42M
0.0%
19.4%
$34M
—
$147M
Dec '25
$248M
$40M
0.0%
17.6%
$64M
—
$107M
Sep '25
$249M
$34M
0.0%
14.1%
$85M
—
$76M
Jun '25
$236M
$36M
0.0%
17.2%
$52M
—
$73M
Mar '25
$218M
$31M
0.0%
15.5%
$38M
—
$57M
Dec '24
$204M
$103M
0.0%
11.3%
$36M
—
$43M
Sep '24
$206M
$33M
0.0%
20.7%
$57M
—
$62M
Jun '24
$197M
$30M
0.0%
18.3%
$51M
—
$60M
Mar '24
$187M
$39M
0.0%
18.2%
$42M
—
$59M
Dec '23
$172M
$30M
0.0%
16.4%
$28M
—
$50M
Sep '23
$165M
$26M
0.0%
-0.0%
$33M
—
$60M
Jun '23
$147M
-$19M
0.0%
-0.5%
-$11M
—
$25M
Mar '23
$136M
-$35M
0.0%
-19.5%
$779000
—
$104M
Dec '22
$124M
-$20M
0.0%
-16.1%
$5M
—
$71M
Sep '22
$125M
-$4M
0.0%
-6.3%
$15M
—
$67M
Jun '22
$117M
-$30M
0.0%
-25.5%
$2M
—
$43M
Mar '22
$105M
-$14M
0.0%
-13.9%
-$4M
—
$50M
Dec '21
$96M
-$1M
59.1%
-7.7%
$6M
—
$58M
Sep '21
$96M
-$141000
59.6%
-0.0%
$13M
—
$84M
Jun '21
$89M
$2M
63.1%
1.3%
$13M
—
$49M
Valuation over time
How the market has priced APPF against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 2893.4× (Jan '24) to 36.7× (Jun '26).
The price-to-sales ratio has fallen from 9.4× (Mar '23) to 5.4× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is APPF growing its revenue and profit?
Over the past 5 years, Appfolio Inc's revenue has grown 25.1% per year, and net income declined 2.3% per year. These are computed facts, not advice.
How much debt does APPF have?
As of FY2025, Appfolio Inc reported — of total debt against $107M of cash.
What is APPF's profit margin?
In FY2025, gross margin was —, operating margin 16.1%, and net margin 14.8%.
What is APPF's P/E ratio?
As of Jun '26, Appfolio Inc traded at a price-to-earnings ratio of about 36.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.