AppFolio (APPF) Financials

$212.06 +5.43 (+2.63%)

Closing price 05/2/2025 04:00 PM Eastern

Extended Trading

$212.00 -0.06 (-0.03%)

As of 05/2/2025 07:05 PM Eastern

Annual Income Statements for AppFolio

This table shows AppFolio's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-16	-8.28	9.72	20	36	158	1.03	-68	2.70	204
Consolidated Net Income / (Loss)	-16	-8.28	9.72	20	36	158	1.03	-68	2.70	204
Net Income / (Loss) Continuing Operations	-16	-8.28	9.72	20	36	158	1.03	-68	2.70	204
Total Pre-Tax Income	-16	-8.21	9.77	20	4.82	197	1.73	-67	8.00	150
Total Operating Income	-15	-8.42	9.34	20	6.46	9.78	-12	-72	0.96	136
Total Gross Profit	41	61	89	117	154	310	359	472	620	794
Total Revenue	75	106	144	190	256	310	359	472	620	794
Operating Revenue	75	106	144	190	256	310	359	472	620	794
Total Cost of Revenue	34	45	55	74	102	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	56	69	79	97	148	300	371	544	619	659
Selling, General & Admin Expense	14	18	21	25	34	47	57	101	93	86
Marketing Expense	26	29	29	33	52	58	73	107	108	111
Research & Development Expense	9.55	13	17	24	40	49	66	111	151	160
Depreciation Expense	6.10	9.94	13	15	22	27	31	33	29	20
Other Operating Expenses / (Income)	-	-	-	-	-	119	144	192	238	282
Total Other Income / (Expense), net	-0.59	0.21	0.44	0.73	-1.64	187	14	5.65	7.03	15
Interest & Investment Income	-	-	-	-	-	-	-	1.18	7.03	14
Other Income / (Expense), net	0.01	-0.04	-0.10	-0.06	0.02	189	13	4.47	0.00	0.70
Income Tax Expense	0.08	0.07	0.06	0.42	-31	38	0.71	1.40	5.30	-54
Basic Earnings per Share	($0.73)	($0.25)	$0.29	$0.59	$1.07	$4.62	$0.03	($1.95)	$0.08	$5.63
Weighted Average Basic Shares Outstanding	21.34M	33.56M	33.85M	34.13M	34.02M	34.26M	34.58M	35.01M	35.63M	36.25M
Diluted Earnings per Share	($0.73)	($0.25)	$0.28	$0.56	$1.02	$4.44	$0.03	($1.95)	$0.07	$5.55
Weighted Average Diluted Shares Outstanding	21.34M	33.56M	35.15M	35.56M	35.57M	35.71M	35.70M	35.01M	36.42M	36.78M
Weighted Average Basic & Diluted Shares Outstanding	21.34M	33.10M	33.50M	43.40M	34.16M	34.40M	34.84M	35.40M	35.87M	36.40M

This table shows AppFolio's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-4.16	-20	-35	-19	26	30	39	30	33	103	31
Consolidated Net Income / (Loss)	-4.16	-20	-35	-19	26	30	39	30	33	103	31
Net Income / (Loss) Continuing Operations	-4.16	-20	-35	-19	26	30	39	30	33	103	31
Total Pre-Tax Income	-3.22	-19	-25	0.75	1.47	31	37	40	47	27	37
Total Operating Income	-7.82	-20	-27	-0.68	-0.07	28	34	36	43	23	34
Total Gross Profit	125	124	136	147	165	172	187	197	206	204	218
Total Revenue	125	124	136	147	165	172	187	197	206	204	218
Operating Revenue	125	124	136	147	165	172	187	197	206	204	218
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	133	144	163	148	166	144	153	161	163	181	184
Selling, General & Admin Expense	19	25	32	19	24	19	21	20	21	23	23
Marketing Expense	26	30	29	27	30	22	24	27	25	33	31
Research & Development Expense	29	31	38	37	42	35	38	40	41	42	44
Depreciation Expense	8.24	8.14	7.67	6.82	7.57	6.93	5.21	4.67	4.33	5.34	6.26
Other Operating Expenses / (Income)	51	50	56	58	63	61	65	70	72	76	79
Total Other Income / (Expense), net	4.60	0.77	1.38	1.42	1.54	2.69	2.99	3.48	4.01	4.20	3.01
Interest & Investment Income	-	-	-	1.48	1.79	-	-	3.48	4.01	-	2.95
Other Income / (Expense), net	4.22	0.21	0.02	-0.05	-0.25	0.29	0.00	0.00	0.00	0.70	0.06
Income Tax Expense	0.94	0.51	9.96	20	-25	0.66	-1.58	9.84	14	-76	5.41
Basic Earnings per Share	($0.12)	($0.56)	($0.99)	($0.53)	$0.74	$0.86	$1.07	$0.82	$0.91	$2.83	$0.86
Weighted Average Basic Shares Outstanding	35.04M	35.01M	35.44M	35.57M	35.69M	35.63M	36.09M	36.24M	36.31M	36.25M	36.30M
Diluted Earnings per Share	($0.12)	($0.56)	($0.99)	($0.53)	$0.72	$0.87	$1.05	$0.81	$0.90	$2.79	$0.86
Weighted Average Diluted Shares Outstanding	35.04M	35.01M	35.44M	35.57M	36.48M	36.42M	36.67M	36.74M	36.76M	36.78M	36.65M
Weighted Average Basic & Diluted Shares Outstanding	35.16M	35.40M	35.49M	35.64M	35.76M	35.87M	36.21M	36.27M	36.33M	36.40M	36.03M

This table details how cash moves in and out of AppFolio's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	6.65	-1.36	5.41	58	-58	124	-82	13	-21	-7.01
Net Cash From Operating Activities	-6.84	12	29	36	39	48	35	25	60	188
Net Cash From Continuing Operating Activities	-6.84	12	29	36	39	48	35	25	60	188
Net Income / (Loss) Continuing Operations	-16	-8.28	9.72	20	36	158	1.03	-68	2.70	204
Consolidated Net Income / (Loss)	-16	-8.28	9.72	20	36	158	1.03	-68	2.70	204
Depreciation Expense	6.10	9.94	13	15	22	26	29	31	27	18
Amortization Expense	0.46	0.31	0.00	0.00	4.13	3.70	3.20	3.19	2.13	2.03
Non-Cash Adjustments To Reconcile Net Income	0.21	4.50	6.22	6.56	5.44	-178	5.77	59	45	51
Changes in Operating Assets and Liabilities, net	2.06	5.04	0.74	-4.84	-29	38	-3.64	0.77	-16	-86
Net Cash From Investing Activities	-59	-13	-23	-4.64	-90	147	-110	-6.47	-56	-152
Net Cash From Continuing Investing Activities	-59	-13	-23	-4.64	-90	147	-110	-6.47	-56	-152
Purchase of Property, Plant & Equipment	-11	-15	-13	-14	-29	-45	-33	-21	-14	-7.19
Acquisitions	-4.06	-0.00	0.00	-14	-54	-	-	0.00	0.00	-77
Purchase of Investments	-74	-32	-27	-30	-25	-44	-241	-79	-196	-317
Divestitures	-	-	-	0.00	0.00	191	13	5.16	0.63	0.00
Sale and/or Maturity of Investments	30	34	16	54	18	44	151	89	153	250
Net Cash From Financing Activities	73	0.20	-1.13	26	-7.27	-70	-7.35	-6.16	-26	-43
Net Cash From Continuing Financing Activities	73	0.20	-1.13	26	-7.27	-70	-7.35	-6.16	-26	-43
Other Financing Activities, net	-1.86	0.24	-1.13	-2.09	-5.60	-17	-7.35	-6.16	-26	-43
Cash Income Taxes Paid	0.09	0.03	0.03	0.08	0.55	0.09	9.32	3.34	8.09	14

This table details how cash moves in and out of AppFolio's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	25	3.54	33	-79	35	-10	9.71	0.43	2.78	-20	14
Net Cash From Operating Activities	16	6.08	1.57	-9.23	37	31	43	51	58	37	38
Net Cash From Continuing Operating Activities	16	6.08	1.57	-9.23	37	31	43	51	58	37	38
Net Income / (Loss) Continuing Operations	-4.16	-20	-35	-19	26	30	39	30	33	103	31
Consolidated Net Income / (Loss)	-4.16	-20	-35	-19	26	30	39	30	33	103	31
Depreciation Expense	7.66	7.53	6.94	6.20	6.98	6.39	4.69	4.20	3.91	4.99	6.26
Amortization Expense	0.69	0.69	0.57	0.54	0.51	0.51	0.52	0.53	0.49	0.49	3.22
Non-Cash Adjustments To Reconcile Net Income	6.73	15	11	5.06	17	12	12	12	16	11	14
Changes in Operating Assets and Liabilities, net	5.09	2.55	18	-2.12	-14	-18	-13	4.33	4.64	-83	-17
Net Cash From Investing Activities	8.61	-1.38	36	-63	4.31	-33	-23	-38	-46	-44	81
Net Cash From Continuing Investing Activities	8.61	-1.38	36	-63	4.31	-33	-23	-38	-46	-44	81
Purchase of Property, Plant & Equipment	-4.12	-4.82	-1.96	-2.36	-5.00	-4.54	-2.55	-1.44	-1.95	-1.25	-0.87
Acquisitions	-	-	-	-	-	-	-	-	-	-	-0.91
Purchase of Investments	-25	-8.89	-1.29	-72	-35	-87	-57	-94	-114	-52	-62
Sale and/or Maturity of Investments	33	12	39	12	45	58	37	58	69	86	145
Net Cash From Financing Activities	-0.01	-1.16	-4.71	-7.05	-5.83	-8.38	-10	-12	-8.57	-12	-105
Net Cash From Continuing Financing Activities	-0.01	-1.16	-4.71	-7.05	-5.83	-8.38	-10	-12	-8.57	-12	-105
Repurchase of Common Equity	-	-	-	-	-	-	-	-	-	-	-96
Other Financing Activities, net	-0.01	-1.16	-4.71	-7.05	-5.83	-8.38	-10	-12	-8.57	-12	-9.07

This table presents AppFolio's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	90	93	110	176	260	389	408	381	409	627
Total Current Assets	28	32	54	108	62	199	159	201	272	335
Cash & Equivalents	12	11	16	74	16	140	58	71	50	43
Short-Term Investments	10	15	30	17	23	28	65	89	162	236
Accounts Receivable	2.05	2.51	3.39	5.52	7.56	10	13	17	21	24
Prepaid Expenses	3.16	3.54	4.55	12	16	21	24	25	40	33
Plant, Property, & Equipment, net	6.11	7.08	6.70	6.87	15	26	30	26	28	24
Total Noncurrent Assets	57	53	50	61	184	164	219	154	108	267
Goodwill	6.74	6.74	6.74	16	58	56	56	56	56	96
Intangible Assets	15	19	19	26	51	52	53	40	24	64
Noncurrent Deferred & Refundable Income Taxes	-	-	-	0.00	28	12	-	-	0.00	77
Other Noncurrent Operating Assets	1.18	1.22	1.24	7.69	34	37	110	57	28	29
Total Liabilities & Shareholders' Equity	90	93	110	176	260	389	408	381	409	627
Total Liabilities	18	23	25	84	128	104	111	116	112	107
Total Current Liabilities	17	21	24	28	47	50	53	61	70	63
Accounts Payable	2.37	0.94	0.61	1.48	1.93	1.04	1.70	2.47	1.14	2.38
Accrued Expenses	3.34	4.04	4.29	8.28	11	14	13	16	22	15
Current Employee Benefit Liabilities	5.16	7.55	11	12	18	19	30	34	36	30
Other Current Liabilities	1.08	1.19	1.22	1.45	11	4.45	7.59	8.89	11	16
Total Noncurrent Liabilities	0.88	1.54	1.26	56	81	54	58	54	42	44
Capital Lease Obligations	-	-	-	-	-	-	-	-	-	37
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	0.00	14	-	-	0.70	0.00
Other Noncurrent Operating Liabilities	0.88	1.54	1.26	7.08	33	40	58	54	41	6.63
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	73	70	85	92	132	286	297	266	297	519
Total Preferred & Common Equity	73	70	85	92	132	286	297	266	297	519
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	73	70	85	92	132	286	297	266	297	519
Common Stock	142	147	153	158	162	161	172	210	237	255
Retained Earnings	-69	-77	-67	-44	-8.03	150	151	83	86	290
Treasury Stock	-	-	0.00	-22	-22	-26	-26	-26	-26	-26
Accumulated Other Comprehensive Income / (Loss)	-0.15	-0.05	-0.21	-0.18	0.03	0.06	-0.19	-1.68	0.10	0.17

This table presents AppFolio's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	385	371	351	379	439	479	523	565
Total Current Assets	177	212	209	240	307	349	395	272
Cash & Equivalents	67	104	25	60	59	60	62	57
Short-Term Investments	72	65	139	132	184	222	269	154
Accounts Receivable	15	17	20	20	26	26	26	27
Prepaid Expenses	23	26	25	28	37	42	38	34
Plant, Property, & Equipment, net	28	26	27	27	28	27	25	23
Total Noncurrent Assets	180	133	115	112	104	104	103	269
Goodwill	56	56	56	56	56	56	56	96
Intangible Assets	42	35	30	27	19	17	16	60
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	82
Other Noncurrent Operating Assets	37	42	29	29	29	30	30	30
Total Liabilities & Shareholders' Equity	385	371	351	379	439	479	523	565
Total Liabilities	113	130	125	116	100	108	110	103
Total Current Liabilities	58	80	75	74	56	63	64	59
Accounts Payable	1.51	0.74	1.53	1.35	1.53	1.26	0.51	4.93
Accrued Expenses	16	18	19	20	14	16	15	16
Current Employee Benefit Liabilities	29	47	31	42	29	32	34	22
Other Current Liabilities	11	14	9.69	11	12	14	15	16
Total Noncurrent Liabilities	55	50	51	42	44	45	47	44
Other Noncurrent Operating Liabilities	55	50	51	42	44	45	47	44
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	272	241	226	263	339	371	413	462
Total Preferred & Common Equity	272	241	226	263	339	371	413	462
Total Common Equity	272	241	226	263	339	371	413	462
Common Stock	197	219	223	233	240	243	251	262
Retained Earnings	103	48	29	56	125	154	187	321
Treasury Stock	-26	-26	-26	-26	-26	-26	-26	-122
Accumulated Other Comprehensive Income / (Loss)	-2.55	-0.92	-0.59	-0.01	-0.12	-0.18	0.48	-0.03

This table displays calculated financial ratios and metrics derived from AppFolio's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	57.28%	40.82%	36.20%	32.17%	34.69%	21.11%	15.90%	31.31%	31.48%	28.01%
EBITDA Growth	-73.09%	121.13%	1,130.40%	55.78%	-5.65%	606.72%	-85.32%	-201.29%	187.33%	427.61%
EBIT Growth	-72.79%	43.59%	209.21%	112.14%	-66.95%	2,967.47%	-99.38%	-5,606.97%	101.42%	14,013.98%
NOPAT Growth	-75.29%	43.86%	257.39%	107.46%	152.48%	-83.80%	-189.44%	-619.40%	100.64%	56,493.74%
Net Income Growth	-81.74%	47.15%	217.33%	105.51%	81.71%	336.59%	-99.35%	-6,726.36%	103.97%	7,452.48%
EPS Growth	25.51%	65.75%	212.00%	100.00%	82.14%	335.29%	-99.32%	-6,600.00%	103.59%	7,828.57%
Operating Cash Flow Growth	-1,540.84%	268.03%	155.40%	23.48%	7.22%	24.20%	-26.73%	-28.33%	137.66%	212.13%
Free Cash Flow Firm Growth	-64.49%	66.65%	238.55%	-139.41%	-1,027.07%	165.13%	-364.27%	126.34%	7.47%	-143.41%
Invested Capital Growth	154.21%	5.26%	-0.32%	136.73%	226.86%	-14.74%	58.12%	-39.70%	-18.84%	225.34%
Revenue Q/Q Growth	0.00%	7.77%	7.38%	7.02%	7.11%	1.66%	6.89%	6.42%	8.34%	4.18%
EBITDA Q/Q Growth	0.00%	216.69%	23.03%	2.22%	0.95%	-0.82%	34.42%	-279.51%	270.58%	-3.87%
EBIT Q/Q Growth	0.00%	23.92%	66.17%	1.43%	-27.75%	-0.89%	122.64%	-57.55%	102.04%	-3.45%
NOPAT Q/Q Growth	0.00%	24.11%	67.21%	0.59%	21.11%	-24.32%	-38.03%	-21.10%	100.98%	53.00%
Net Income Q/Q Growth	0.00%	23.90%	66.09%	0.36%	5.16%	-3.02%	-44.31%	-36.92%	105.72%	55.06%
EPS Q/Q Growth	0.00%	-733.33%	75.00%	-1.75%	5.15%	-3.06%	-40.00%	-36.36%	105.15%	52.89%
Operating Cash Flow Q/Q Growth	-49.37%	595.70%	3.66%	11.88%	10.85%	-20.42%	19.80%	-10.10%	71.35%	2.95%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	11.22%	45.27%	10.01%	-26.77%	-192.74%	356.76%	220.46%	-107.97%
Invested Capital Q/Q Growth	0.00%	-15.54%	-1.80%	-7.54%	0.49%	7.76%	43.47%	20.66%	20.35%	241.91%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	54.78%	57.73%	61.56%	61.30%	60.30%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-11.25%	1.69%	15.26%	17.98%	12.60%	73.50%	9.31%	-7.18%	4.77%	19.66%
Operating Margin	-20.01%	-7.98%	6.49%	10.34%	2.52%	3.16%	-3.31%	-15.34%	0.16%	17.08%
EBIT Margin	-20.00%	-8.01%	6.42%	10.31%	2.53%	64.08%	0.34%	-14.39%	0.16%	17.17%
Profit (Net Income) Margin	-20.90%	-7.84%	6.76%	10.51%	14.17%	51.09%	0.29%	-14.44%	0.44%	25.69%
Tax Burden Percent	100.48%	100.82%	99.41%	97.94%	752.27%	80.48%	59.28%	102.10%	33.79%	135.75%
Interest Burden Percent	103.97%	97.09%	105.79%	104.02%	74.46%	99.07%	140.63%	98.26%	827.85%	110.25%
Effective Tax Rate	0.00%	0.00%	0.59%	2.06%	-652.27%	19.52%	40.72%	0.00%	66.21%	-35.75%
Return on Invested Capital (ROIC)	-94.32%	-35.95%	55.25%	68.19%	57.37%	6.55%	-4.93%	-36.13%	0.34%	101.14%
ROIC Less NNEP Spread (ROIC-NNEP)	-77.69%	-31.59%	54.53%	67.00%	102.72%	-163.08%	-10.35%	-23.77%	-0.94%	92.34%
Return on Net Nonoperating Assets (RNNOA)	57.19%	24.32%	-42.69%	-45.61%	-24.94%	69.26%	5.28%	11.93%	0.62%	-51.16%
Return on Equity (ROE)	-37.13%	-11.63%	12.56%	22.57%	32.42%	75.81%	0.35%	-24.20%	0.96%	49.98%
Cash Return on Invested Capital (CROIC)	-181.39%	-41.07%	55.57%	-13.03%	-48.93%	22.46%	-49.97%	13.41%	21.14%	-4.82%
Operating Return on Assets (OROA)	-25.88%	-9.24%	9.11%	13.71%	2.97%	61.17%	0.31%	-17.21%	0.24%	26.33%
Return on Assets (ROA)	-27.03%	-9.05%	9.58%	13.96%	16.65%	48.77%	0.26%	-17.26%	0.68%	39.41%
Return on Common Equity (ROCE)	-9.34%	-11.63%	12.56%	22.57%	32.42%	75.81%	0.35%	-24.20%	0.96%	49.98%
Return on Equity Simple (ROE_SIMPLE)	-21.55%	-11.88%	11.42%	21.74%	27.50%	55.40%	0.35%	-25.65%	0.91%	39.30%
Net Operating Profit after Tax (NOPAT)	-11	-5.90	9.28	19	49	7.87	-7.04	-51	0.33	184
NOPAT Margin	-14.01%	-5.58%	6.45%	10.13%	18.99%	2.54%	-1.96%	-10.74%	0.05%	23.19%
Net Nonoperating Expense Percent (NNEP)	-16.63%	-4.35%	0.72%	1.19%	-45.35%	169.63%	5.42%	-12.36%	1.28%	8.81%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-19.08%	0.11%	33.07%
Cost of Revenue to Revenue	45.22%	42.27%	38.44%	38.70%	39.70%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	19.13%	17.03%	14.74%	13.10%	13.47%	15.31%	15.94%	21.36%	15.06%	10.83%
R&D to Revenue	12.74%	11.97%	11.53%	12.69%	15.43%	15.65%	18.36%	23.55%	24.40%	20.19%
Operating Expenses to Revenue	74.79%	65.71%	55.06%	50.96%	57.77%	96.84%	103.31%	115.34%	99.84%	82.92%
Earnings before Interest and Taxes (EBIT)	-15	-8.46	9.24	20	6.48	199	1.23	-68	0.97	136
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.44	1.78	22	34	32	228	33	-34	30	156
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.73	11.53	16.56	22.08	28.38	21.62	14.11	13.95	20.84	17.26
Price to Tangible Book Value (P/TBV)	9.52	18.14	23.87	40.63	169.27	34.73	22.29	21.88	28.51	25.01
Price to Revenue (P/Rev)	6.53	7.61	9.80	10.67	14.63	19.93	11.68	7.85	9.99	11.29
Price to Earnings (P/E)	0.00	0.00	145.00	101.58	103.22	39.02	4,082.59	0.00	2,292.90	43.93
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.69%	0.98%	0.97%	2.56%	0.02%	0.00%	0.04%	2.28%
Enterprise Value to Invested Capital (EV/IC)	27.08	44.63	79.94	49.78	28.85	54.28	23.29	33.61	69.90	31.32
Enterprise Value to Revenue (EV/Rev)	5.77	7.11	9.32	10.40	14.62	19.37	11.34	7.51	9.64	10.98
Enterprise Value to EBITDA (EV/EBITDA)	0.00	421.09	61.10	57.82	116.07	26.35	121.76	0.00	202.17	55.86
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	145.09	100.82	577.88	30.23	3,304.50	0.00	6,194.33	63.98
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	144.46	102.65	77.01	762.75	0.00	0.00	18,390.22	47.37
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	65.29	45.64	54.49	96.25	124.33	115.13	139.77	99.26	46.36
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	143.64	0.00	0.00	222.44	0.00	188.63	296.25	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.54	0.37	0.00	0.00	0.00	0.00	0.07
Long-Term Debt to Equity	0.00	0.00	0.00	0.53	0.36	0.00	0.00	0.00	0.00	0.07
Financial Leverage	-0.74	-0.77	-0.78	-0.68	-0.24	-0.42	-0.51	-0.50	-0.66	-0.55
Leverage Ratio	1.37	1.29	1.31	1.62	1.95	1.55	1.37	1.40	1.40	1.27
Compound Leverage Factor	1.43	1.25	1.39	1.68	1.45	1.54	1.92	1.38	11.62	1.40
Debt to Total Capital	0.00%	0.00%	0.00%	35.16%	26.91%	0.00%	0.00%	0.00%	0.00%	6.73%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.86%	0.67%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	34.31%	26.24%	0.00%	0.00%	0.00%	0.00%	6.73%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	64.84%	73.09%	100.00%	100.00%	100.00%	100.00%	93.27%
Debt to EBITDA	0.00	0.00	0.00	1.46	1.51	0.00	0.00	0.00	0.00	0.24
Net Debt to EBITDA	0.00	0.00	0.00	-1.53	-0.07	0.00	0.00	0.00	0.00	-1.54
Long-Term Debt to EBITDA	0.00	0.00	0.00	1.42	1.47	0.00	0.00	0.00	0.00	0.24
Debt to NOPAT	0.00	0.00	0.00	2.59	1.00	0.00	0.00	0.00	0.00	0.20
Net Debt to NOPAT	0.00	0.00	0.00	-2.71	-0.05	0.00	0.00	0.00	0.00	-1.31
Long-Term Debt to NOPAT	0.00	0.00	0.00	2.52	0.97	0.00	0.00	0.00	0.00	0.20
Altman Z-Score	15.88	20.87	34.64	16.15	18.62	39.29	24.48	20.62	35.73	53.24
Noncontrolling Interest Sharing Ratio	74.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.63	1.51	2.25	3.83	1.30	4.00	3.01	3.28	3.90	5.30
Quick Ratio	1.44	1.34	2.06	3.41	0.97	3.59	2.57	2.88	3.33	4.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-20	-6.74	9.33	-3.68	-41	27	-71	19	20	-8.77
Operating Cash Flow to CapEx	-60.19%	74.64%	231.83%	251.76%	133.72%	107.14%	108.17%	119.49%	434.75%	2,618.41%
Free Cash Flow to Firm to Interest Expense	-33.94	0.00	0.00	0.00	-25.06	14.60	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-11.50	0.00	0.00	0.00	23.51	26.12	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-30.61	0.00	0.00	0.00	5.93	1.74	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.29	1.15	1.42	1.33	1.17	0.95	0.90	1.20	1.57	1.53
Accounts Receivable Turnover	46.30	46.32	48.76	42.70	39.15	35.20	31.73	32.43	33.35	35.25
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	17.18	16.02	20.88	28.02	23.69	15.06	12.63	16.68	22.78	30.06
Accounts Payable Turnover	15.21	27.00	71.47	70.35	59.65	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	7.88	7.88	7.49	8.55	9.32	10.37	11.50	11.25	10.95	10.35
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	23.99	13.52	5.11	5.19	6.12	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-16.11	-5.64	2.38	3.36	3.20	10.37	11.50	11.25	10.95	10.35
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	16	17	17	40	130	111	175	105	86	279
Invested Capital Turnover	6.73	6.44	8.56	6.73	3.02	2.58	2.52	3.37	6.49	4.36
Increase / (Decrease) in Invested Capital	9.70	0.84	-0.05	23	90	-19	64	-69	-20	193
Enterprise Value (EV)	433	751	1,340	1,976	3,743	6,005	4,074	3,545	5,984	8,723
Market Capitalization	490	804	1,409	2,028	3,745	6,180	4,197	3,705	6,195	8,964
Book Value per Share	$2.17	$2.07	$2.51	$2.68	$3.87	$8.33	$8.58	$7.55	$8.31	$14.29
Tangible Book Value per Share	$1.53	$1.31	$1.74	$1.46	$0.65	$5.18	$5.43	$4.82	$6.08	$9.86
Total Capital	73	70	85	142	181	286	297	266	297	557
Total Debt	0.00	0.00	0.00	50	49	0.00	0.00	0.00	0.00	37
Total Long-Term Debt	0.00	0.00	0.00	49	47	0.00	0.00	0.00	0.00	37
Net Debt	-57	-53	-68	-52	-2.20	-175	-122	-160	-212	-241
Capital Expenditures (CapEx)	11	15	13	14	29	45	33	21	14	7.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-12	-15	-16	-9.71	-23	-19	-16	-20	-9.11	-6.13
Debt-free Net Working Capital (DFNWC)	11	11	30	81	16	150	106	140	203	272
Net Working Capital (NWC)	11	11	30	80	14	150	106	140	203	272
Net Nonoperating Expense (NNE)	5.17	2.38	-0.44	-0.72	12	-151	-8.07	17	-2.38	-20
Net Nonoperating Obligations (NNO)	-57	-53	-68	-52	-2.20	-175	-122	-160	-212	-241
Total Depreciation and Amortization (D&A)	6.56	10	13	15	26	29	32	34	29	20
Debt-free, Cash-free Net Working Capital to Revenue	-15.60%	-14.50%	-11.11%	-5.11%	-9.04%	-6.12%	-4.59%	-4.23%	-1.47%	-0.77%
Debt-free Net Working Capital to Revenue	14.14%	10.28%	20.81%	42.61%	6.07%	48.23%	29.48%	29.69%	32.65%	34.26%
Net Working Capital to Revenue	14.14%	10.28%	20.81%	41.98%	5.60%	48.23%	29.48%	29.69%	32.65%	34.26%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.73)	($0.25)	$0.29	$0.59	$1.07	$4.62	$0.03	($1.95)	$0.08	$5.63
Adjusted Weighted Average Basic Shares Outstanding	33.57M	33.74M	33.85M	34.13M	34.02M	34.26M	34.58M	35.01M	35.63M	36.25M
Adjusted Diluted Earnings per Share	($0.73)	($0.25)	$0.28	$0.56	$1.02	$4.44	$0.03	($1.95)	$0.07	$5.55
Adjusted Weighted Average Diluted Shares Outstanding	33.57M	33.74M	35.15M	35.56M	35.57M	35.71M	35.70M	35.01M	36.42M	36.78M
Adjusted Basic & Diluted Earnings per Share	($0.73)	($0.25)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	21.34M	33.56M	34.07M	33.91M	34.16M	34.40M	34.84M	35.40M	35.87M	36.40M
Normalized Net Operating Profit after Tax (NOPAT)	-11	-5.90	9.28	19	4.52	7.87	-7.04	-51	0.67	95
Normalized NOPAT Margin	-14.01%	-5.58%	6.45%	10.13%	1.77%	2.54%	-1.96%	-10.74%	0.11%	11.96%
Pre Tax Income Margin	-20.80%	-7.78%	6.80%	10.73%	1.88%	63.48%	0.48%	-14.14%	1.29%	18.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-25.21	0.00	0.00	0.00	3.92	107.45	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-17.65	0.00	0.00	0.00	29.39	4.26	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-44.32	0.00	0.00	0.00	-13.67	83.07	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-36.76	0.00	0.00	0.00	11.80	-20.12	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-26.89%	0.00%	0.00%	107.99%	0.00%	2.65%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from AppFolio's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	30.55%	29.77%	29.25%	25.22%	32.27%	38.51%	37.71%	34.20%	24.36%	18.53%	16.15%
EBITDA Growth	-39.90%	-185.76%	-221.36%	128.32%	51.04%	407.37%	306.82%	578.60%	554.79%	-17.77%	2.34%
EBIT Growth	-883.06%	-489.79%	-80.60%	97.55%	91.22%	244.51%	228.59%	5,015.14%	13,570.89%	-17.07%	-0.74%
NOPAT Growth	-60,046.15%	-870.62%	-80.86%	182.22%	78.01%	297.87%	291.39%	57.05%	2,605.81%	214.30%	-18.93%
Net Income Growth	-2,851.77%	-1,380.09%	-145.75%	36.93%	735.39%	253.64%	210.12%	256.95%	24.81%	239.41%	-18.83%
EPS Growth	0.00%	-1,300.00%	-141.46%	38.37%	700.00%	255.36%	206.06%	252.83%	25.00%	220.69%	-18.10%
Operating Cash Flow Growth	1.30%	-31.92%	170.10%	-267.06%	129.69%	412.79%	2,630.71%	651.13%	57.17%	17.26%	-10.45%
Free Cash Flow Firm Growth	250.62%	188.79%	3,666.76%	749.18%	-48.04%	-14.38%	-53.65%	-102.00%	31.45%	-323.23%	-1,204.34%
Invested Capital Growth	-28.30%	-39.70%	-37.70%	-36.12%	-18.64%	-18.84%	33.59%	45.33%	14.52%	225.34%	162.64%
Revenue Q/Q Growth	6.50%	-0.82%	9.71%	8.06%	12.49%	3.86%	9.08%	5.31%	4.23%	-1.01%	6.89%
EBITDA Q/Q Growth	122.40%	-342.68%	-64.90%	131.60%	19.43%	393.85%	10.96%	3.69%	15.24%	-37.98%	48.70%
EBIT Q/Q Growth	87.96%	-448.61%	-34.30%	97.24%	56.89%	9,126.90%	19.51%	5.69%	18.15%	-44.43%	43.05%
NOPAT Q/Q Growth	73.88%	-155.17%	-32.97%	192.76%	-106.99%	2,395.92%	28.62%	-23.88%	11.48%	187.98%	-66.82%
Net Income Q/Q Growth	86.11%	-373.33%	-78.22%	46.17%	239.91%	14.46%	27.74%	-23.27%	11.26%	211.26%	-69.45%
EPS Q/Q Growth	86.05%	-366.67%	-76.79%	46.46%	235.85%	20.83%	20.69%	-22.86%	11.11%	210.00%	-69.18%
Operating Cash Flow Q/Q Growth	189.65%	-62.00%	-74.13%	-686.78%	498.23%	-15.16%	37.75%	18.43%	13.57%	-36.70%	5.19%
Free Cash Flow Firm Q/Q Growth	371.71%	91.08%	-55.35%	111.01%	-71.14%	214.87%	-75.83%	-109.09%	2,001.05%	-634.72%	-19.57%
Invested Capital Q/Q Growth	-9.90%	20.66%	-32.10%	-13.46%	14.76%	20.35%	11.77%	-5.86%	-9.57%	241.91%	-9.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	3.80%	-9.29%	-13.96%	4.08%	4.34%	20.62%	20.97%	20.65%	22.83%	14.30%	19.90%
Operating Margin	-6.25%	-16.08%	-19.49%	-0.46%	-0.04%	16.43%	18.19%	18.25%	20.69%	11.27%	15.52%
EBIT Margin	-2.88%	-15.91%	-19.48%	-0.50%	-0.19%	16.60%	18.19%	18.25%	20.69%	11.61%	15.54%
Profit (Net Income) Margin	-3.33%	-15.88%	-25.80%	-12.85%	15.98%	17.62%	20.63%	15.03%	16.04%	50.44%	14.42%
Tax Burden Percent	129.09%	102.67%	139.61%	-2,537.05%	1,796.54%	97.86%	104.26%	75.09%	70.86%	378.34%	85.30%
Interest Burden Percent	89.61%	97.20%	94.87%	-101.64%	-465.82%	108.43%	108.78%	109.65%	109.43%	114.79%	108.73%
Effective Tax Rate	0.00%	0.00%	0.00%	2,637.05%	-1,696.54%	2.14%	-4.26%	24.91%	29.14%	-278.34%	14.70%
Return on Invested Capital (ROIC)	-18.54%	-37.89%	-73.52%	78.42%	-5.26%	104.44%	152.29%	130.18%	146.50%	186.04%	62.90%
ROIC Less NNEP Spread (ROIC-NNEP)	-19.28%	-33.83%	-63.87%	100.19%	-19.96%	103.02%	150.78%	129.01%	145.41%	179.03%	61.77%
Return on Net Nonoperating Assets (RNNOA)	12.12%	16.98%	41.36%	-67.74%	14.04%	-68.05%	-107.27%	-96.17%	-112.56%	-99.20%	-35.02%
Return on Equity (ROE)	-6.42%	-20.91%	-32.17%	10.68%	8.79%	36.39%	45.02%	34.01%	33.94%	86.84%	27.88%
Cash Return on Invested Capital (CROIC)	-6.99%	13.41%	-16.74%	-4.32%	-21.15%	21.14%	51.40%	111.36%	144.21%	-4.82%	12.62%
Operating Return on Assets (OROA)	-3.22%	-19.03%	-25.41%	-0.73%	-0.29%	26.07%	30.19%	31.73%	34.98%	17.82%	25.54%
Return on Assets (ROA)	-3.72%	-18.99%	-33.65%	-18.83%	23.98%	27.67%	34.24%	26.13%	27.12%	77.37%	23.69%
Return on Common Equity (ROCE)	-6.42%	-20.91%	-32.17%	10.68%	8.79%	36.39%	45.02%	34.01%	33.94%	86.84%	27.88%
Return on Equity Simple (ROE_SIMPLE)	-18.30%	0.00%	-36.97%	-34.46%	-18.00%	0.00%	22.55%	33.67%	31.88%	0.00%	42.58%
Net Operating Profit after Tax (NOPAT)	-5.47	-14	-19	17	-1.20	28	36	27	30	87	29
NOPAT Margin	-4.38%	-11.26%	-13.65%	11.71%	-0.73%	16.08%	18.96%	13.71%	14.66%	42.65%	13.24%
Net Nonoperating Expense Percent (NNEP)	0.74%	-4.06%	-9.65%	-21.77%	14.71%	1.42%	1.51%	1.17%	1.09%	7.02%	1.13%
Return On Investment Capital (ROIC_SIMPLE)	-	-5.26%	-	-	-	9.30%	-	-	-	15.60%	6.24%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	15.47%	19.78%	23.29%	12.80%	14.45%	11.08%	11.27%	10.26%	10.28%	11.51%	10.73%
R&D to Revenue	23.15%	25.11%	27.67%	25.34%	25.14%	20.28%	20.22%	20.02%	19.76%	20.77%	20.10%
Operating Expenses to Revenue	106.25%	116.08%	119.49%	100.46%	100.04%	83.57%	81.81%	81.75%	79.31%	88.73%	84.48%
Earnings before Interest and Taxes (EBIT)	-3.60	-20	-27	-0.73	-0.32	29	34	36	43	24	34
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4.75	-12	-19	6.01	7.17	35	39	41	47	29	43
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	13.48	13.95	18.32	27.03	24.78	20.84	26.01	23.85	20.68	17.26	17.32
Price to Tangible Book Value (P/TBV)	21.07	21.88	29.41	43.81	36.25	28.51	33.40	29.72	25.08	25.01	26.20
Price to Revenue (P/Rev)	8.27	7.85	8.77	11.48	11.37	9.99	13.14	12.27	11.20	11.29	9.71
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	2,292.90	115.38	70.83	64.88	43.93	40.68
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.87%	1.41%	1.54%	2.28%	2.46%
Enterprise Value to Invested Capital (EV/IC)	39.82	33.61	59.16	95.91	88.83	69.90	89.68	95.20	100.75	31.32	31.02
Enterprise Value to Revenue (EV/Rev)	7.85	7.51	8.43	11.17	11.03	9.64	12.77	11.88	10.77	10.98	9.45
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	202.17	97.61	69.91	50.52	55.86	49.60
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	6,194.33	139.37	87.21	58.12	63.98	57.28
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	18,390.22	127.95	76.04	68.19	47.37	43.91
Enterprise Value to Operating Cash Flow (EV/OCF)	123.36	139.77	145.20	412.04	179.59	99.26	84.40	53.01	44.90	46.36	42.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	188.63	0.00	0.00	0.00	296.25	199.54	101.28	74.59	0.00	356.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.07	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.07	0.00
Financial Leverage	-0.63	-0.50	-0.65	-0.68	-0.70	-0.66	-0.71	-0.75	-0.77	-0.55	-0.57
Leverage Ratio	1.41	1.40	1.46	1.48	1.43	1.40	1.40	1.39	1.34	1.27	1.25
Compound Leverage Factor	1.26	1.36	1.38	-1.50	-6.65	1.52	1.52	1.52	1.46	1.46	1.36
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.73%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.73%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	93.27%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.24	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.54	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.24	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.20	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.31	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.20	0.00
Altman Z-Score	21.33	21.03	22.04	31.31	35.93	35.95	56.04	52.17	49.36	52.65	49.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.06	3.28	2.65	2.80	3.24	3.90	5.47	5.51	6.20	5.30	4.64
Quick Ratio	2.67	2.88	2.33	2.46	2.86	3.33	4.81	4.85	5.60	4.78	4.07
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	29	55	25	52	15	48	11	-1.04	20	-106	-127
Operating Cash Flow to CapEx	388.52%	126.24%	80.30%	-390.61%	734.55%	686.85%	1,687.78%	3,527.67%	2,968.65%	2,918.28%	4,441.69%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.12	1.20	1.30	1.46	1.50	1.57	1.66	1.74	1.69	1.53	1.64
Accounts Receivable Turnover	32.76	32.43	29.95	29.40	32.50	33.35	30.82	31.58	33.19	35.25	30.74
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	15.89	16.68	17.84	19.39	20.91	22.78	25.11	27.08	28.98	30.06	32.26
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	11.14	11.25	12.19	12.41	11.23	10.95	11.84	11.56	11.00	10.35	11.87
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	11.14	11.25	12.19	12.41	11.23	10.95	11.84	11.56	11.00	10.35	11.87
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	87	105	72	62	71	86	96	90	81	279	251
Invested Capital Turnover	4.24	3.37	5.39	6.70	7.22	6.49	8.03	9.50	9.99	4.36	4.75
Increase / (Decrease) in Invested Capital	-35	-69	-43	-35	-16	-20	24	28	10	193	156
Enterprise Value (EV)	3,481	3,545	4,237	5,945	6,318	5,984	8,580	8,575	8,207	8,723	7,795
Market Capitalization	3,665	3,705	4,406	6,109	6,510	6,195	8,824	8,857	8,539	8,964	8,005
Book Value per Share	$7.77	$7.55	$6.80	$6.37	$7.37	$8.31	$9.40	$10.26	$11.38	$14.29	$12.69
Tangible Book Value per Share	$4.97	$4.82	$4.23	$3.93	$5.04	$6.08	$7.32	$8.23	$9.39	$9.86	$8.39
Total Capital	272	266	241	226	263	297	339	371	413	557	462
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	37	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	37	0.00
Net Debt	-184	-160	-169	-164	-192	-212	-244	-281	-331	-241	-211
Capital Expenditures (CapEx)	4.12	4.82	1.96	2.36	5.00	4.54	2.55	1.44	1.95	1.25	0.87
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-20	-20	-37	-29	-26	-9.11	7.10	4.12	0.08	-6.13	2.59
Debt-free Net Working Capital (DFNWC)	119	140	132	135	166	203	251	285	331	272	213
Net Working Capital (NWC)	119	140	132	135	166	203	251	285	331	272	213
Net Nonoperating Expense (NNE)	-1.31	5.73	17	36	-28	-2.63	-3.12	-2.61	-2.84	-16	-2.57
Net Nonoperating Obligations (NNO)	-184	-160	-169	-164	-192	-212	-244	-281	-331	-241	-211
Total Depreciation and Amortization (D&A)	8.35	8.21	7.51	6.74	7.49	6.90	5.22	4.73	4.40	5.48	9.48
Debt-free, Cash-free Net Working Capital to Revenue	-4.56%	-4.23%	-7.34%	-5.49%	-4.50%	-1.47%	1.06%	0.57%	0.01%	-0.77%	0.31%
Debt-free Net Working Capital to Revenue	26.84%	29.69%	26.27%	25.32%	28.94%	32.65%	37.31%	39.53%	43.48%	34.26%	25.88%
Net Working Capital to Revenue	26.84%	29.69%	26.27%	25.32%	28.94%	32.65%	37.31%	39.53%	43.48%	34.26%	25.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.12)	($0.56)	($0.99)	($0.53)	$0.74	$0.86	$1.07	$0.82	$0.91	$2.83	$0.86
Adjusted Weighted Average Basic Shares Outstanding	35.04M	35.01M	35.44M	35.57M	35.69M	35.63M	36.09M	36.24M	36.31M	36.25M	36.30M
Adjusted Diluted Earnings per Share	($0.12)	($0.56)	($0.99)	($0.53)	$0.72	$0.87	$1.05	$0.81	$0.90	$2.79	$0.86
Adjusted Weighted Average Diluted Shares Outstanding	35.04M	35.01M	35.44M	35.57M	36.48M	36.42M	36.67M	36.74M	36.76M	36.78M	36.65M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.16M	35.40M	35.49M	35.64M	35.76M	35.87M	36.21M	36.27M	36.33M	36.40M	36.03M
Normalized Net Operating Profit after Tax (NOPAT)	-5.47	-14	-19	-0.48	-0.05	28	24	27	30	16	29
Normalized NOPAT Margin	-4.38%	-11.26%	-13.65%	-0.32%	-0.03%	16.08%	12.73%	13.71%	14.66%	7.89%	13.24%
Pre Tax Income Margin	-2.58%	-15.47%	-18.48%	0.51%	0.89%	18.00%	19.78%	20.01%	22.64%	13.33%	16.90%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About AppFolio's Financials

When does AppFolio's financial year end?

According to the most recent income statement we have on file, AppFolio's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has AppFolio's net income changed over the last 9 years?

AppFolio's net income appears to be on an upward trend, with a most recent value of $204.07 million in 2024, falling from -$15.67 million in 2015. The previous period was $2.70 million in 2023. See where experts think AppFolio is headed by visiting AppFolio's forecast page.

What is AppFolio's operating income?

AppFolio's total operating income in 2024 was $135.64 million, based on the following breakdown:

Total Gross Profit: $794.20 million
Total Operating Expenses: $658.56 million

How has AppFolio revenue changed over the last 9 years?

Over the last 9 years, AppFolio's total revenue changed from $74.98 million in 2015 to $794.20 million in 2024, a change of 959.3%.

How much debt does AppFolio have?

AppFolio's total liabilities were at $107.39 million at the end of 2024, a 3.8% decrease from 2023, and a 503.8% increase since 2015.

How much cash does AppFolio have?

In the past 9 years, AppFolio's cash and equivalents has ranged from $10.70 million in 2016 to $140.26 million in 2020, and is currently $42.50 million as of their latest financial filing in 2024.

How has AppFolio's book value per share changed over the last 9 years?

Over the last 9 years, AppFolio's book value per share changed from 2.17 in 2015 to 14.29 in 2024, a change of 559.2%.

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This page (NASDAQ:APPF) was last updated on 5/5/2025 by MarketBeat.com Staff

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AppFolio (APPF) Financials

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