Appfolio Inc (APPF) Fair Value & Analysis
Technology · US · Market cap $6.2B · ISIN US03783C1009
What is Appfolio Inc really worth?
Appfolio Inc
APPF · US
A solid business, but trading 66% above our fair value of $134.67.
Strengths
Risks
Fair value as of: Aug 29, 2026
From 26 valuation models · updated 6 days ago
Fair value updated Aug 29, 2026, revised from $89.08 to $134.67 (+51.2%) since Aug 13, 2026. Share price +12.0% over the past month.
What runs behind every stock
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What matters now
- A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The model range is unusually wide ($101.37 to $311.36). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range $82.26 – $321.25 · fair‑value band $101.37 – $311.36 · the $223.57 price screens above the $134.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Appfolio Inc (APPF) currently trades at $223.57, while our model-based Fair Value estimate is $134.67, implying the stock looks roughly 66.0% overvalued today. The Quality Score stands at 73/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of $239.50 per share, and 8 of the 26 models we run sit above the $223.57 price. Bear case: the Asset-Based group reads lowest at $15.13, and 18 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Appfolio Inc generated revenue of $995M at a net margin of 15.3%. Revenue grew 20.4% year over year. It earns a return on equity of 32.6%. The balance sheet holds a net cash position of $35.8M. Fundamentals as of Aug 29, 2026
Our scenario range runs from $101.37 (bear case) to $311.36 (bull case); at $223.57, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 31% below its 52-week high and 57% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −38% fair-value upside, at −40%, APPF screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $2.85 per share, which is 2.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings ($239.50) versus Dividend Discount ($7.16). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 77 · Market factors (momentum, volatility) 47
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
AppFolio, Inc., together with its subsidiaries, provides cloud-based platform for the real estate industry in the United States. The company provides a cloud-based platform that assist with accounting, reporting, marketing, leasing, maintenance, workflow automation, and communication services.
Full company description
AppFolio, Inc., together with its subsidiaries, provides cloud-based platform for the real estate industry in the United States. The company provides a cloud-based platform that assist with accounting, reporting, marketing, leasing, maintenance, workflow automation, and communication services. It offers AppFolio Property Manager Core, a platform that provides the accounting functionalities for small property management companies, as well as serves as a system of record; AppFolio Property Manager Plus, which offers affordable housing and student housing, advanced accounting, advanced data analysis, and read-only API access services; and AppFolio Property Manager Max that provides customer relationship management tools and full database access through a read and write application programming interface services. The company also provides value-added services, such as electronic payment, tenant screening, maintenance, business optimization, resident, and risk mitigation services. It serves property managers, property investors, potential residents, residents, and vendors. AppFolio, Inc. was incorporated in 2006 and is headquartered in Santa Barbara, California.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Appfolio Inc reported revenue of $951M in FY2025 versus $359M in FY2021, a compound +27.5%/yr. Reported net income was $141M in FY2025, compounding +242.2%/yr from FY2021.
APPF screens 66% overvalued. Compare with SAP SE →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- If You Invested $1000 in AppFolio a Decade Ago, This is How Much It'd Be Worth Now
- AppFolio (APPF) Just Flashed Golden Cross Signal: Do You Buy?
- 3 Reasons Growth Investors Will Love AppFolio (APPF)
- PURE HomeRiver Deepens Its Commitment to AppFolio to Power the Next Phase of Its Growth
Peer Group
Software - Application · 691 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Application median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAP | €191.32 | €169.59 | −11% |
| Shopify Inc SHOP | C$209.78 | C$28.76 | −86% |
| Uber Technologies, Inc UBER | $78.82 | $43.66 | −45% |
| Salesforce, Inc CRM | $252.05 | $249.28 | −1% |
| ServiceNow, Inc NOW | $138.43 | $43.73 | −68% |
| Cadence Design Systems, Inc CDNS | $340.39 | $112.57 | −67% |
| Snowflake Inc SNOW | $329.11 | $42.27 | −87% |
| Adobe Inc ADBE | $289.15 | $454.04 | +57% |
| Automatic Data Processing, Inc ADP | $284.68 | $177.51 | −38% |
| Intuit Inc INTU | $348.00 | $363.46 | +4% |
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