What is the 13F Pro Quality Score for APPF?

13F Pro ranks APPFOLIO INC (APPF) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View APPF's current score at https://13fpro.ai/company/APPF (free sign-up required for the full ranking).

Where does 13F Pro source APPF data?

All APPFOLIO INC fundamentals and ownership data come directly from SEC EDGAR. APPFOLIO INC files with the SEC under CIK 1433195. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is APPF in?

APPFOLIO INC (APPF) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

What drives APPF's revenue?

Per APPFOLIO INC's latest 10-Q filed with the SEC on 2026-07-23, the biggest revenue drivers are: Value Added Services ($219.5M, +22% YoY); Subscription Services ($59.8M, +14% YoY); Other ($1.9M, -37% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/APPF.

What are APPF's largest expenses?

APPFOLIO INC's latest 10-Q reports these as the largest expense items: Cost of revenue (exclusive of D&A) ($102.6M, +22% YoY); Research and product development ($51.0M, +9% YoY); Sales and marketing ($43.9M, +19% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is APPF research updated on 13F Pro?

APPF's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

APPFOLIO INC(APPF)Stock Analysis

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13F Pro Quality Score

71.6/100

Rank #179 of 2,961 stocksTOP 10%

View Technology peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

82.1/100

Profitability

63.7/100

Balance Sheet

97.7/100

Earnings Quality

64.5/100

Free Cash Flow

79.8/100

Institutional Flow

90.7/100

Revenue Scale

50.6/100

Dilution Risk

20.0/100

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Why APPF Scores 72/100

exact factor attribution · 2026-09-11

APPF's composite is driven by revenue growth and capital efficiency, held back by shareholder dilution. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+6.4 pts

82th pct

Capital efficiency

+4.8 pts

98th pct

Free cash flow

+4.5 pts

80th pct

Profitability

+2.1 pts

64th pct

Institutional flow

+2.0 pts

91th pct

Earnings growth

+1.8 pts

86th pct

Earnings quality

+1.4 pts

65th pct

Scale

+0.1 pts

51th pct

Shareholder dilution

-1.5 pts

20th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

APPF Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for APPFOLIO INC (APPF), a Technology sector company. 13F Pro's AI-powered ranking engine scores APPF at 71.6/100 on a 32-signal composite quality model, placing it at rank #179 of 2,961 stocks — the top 10% of the AI-ranked universe. APPF scores in the top quartile across balance sheet strength (97.7), institutional flow (90.7), revenue growth (82.1). Shareholder dilution risk is elevated at 20.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), APPFOLIO INC reports quarterly revenue of $281.1M, net income of $41.5M, an operating margin of 18.8%. Top institutional holders of APPF by reported 13-F value include BlackRock, PRINCIPAL FINANCIAL GROUP, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. APPF trades on the Nasdaq exchange and files with the SEC under CIK 1433195. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate APPF daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for APPFOLIO INC directly from SEC EDGAR. APPFOLIO INC's 13F Pro composite quality score has ranged between 34 and 78 since 2021, currently 71.6 — a declining long-term trajectory across 68 quarterly and live scoring snapshots.

✦

Fun facts about APPFOLIO INC

Quirks, history, and lore behind APPF — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. software-as-a-service company · small-cap · listed on Nasdaq · headquartered in Santa Barbara, California.
2
The Numbers
Annual revenue in the range of $700–800 million, with growth fueled almost entirely by subscription fees rather than one-time licenses.
3
The History
Founded in the early 2000s, it went public in 2015 and spent years laser-focused on a single, unglamorous industry before cautiously expanding its reach.
4
The Secret
Its platform bundles accounting, leasing, maintenance, and communications into one cloud suite — basically an entire back-office for people who manage buildings.
5
The Lore
It serves property managers across the U.S. and has pushed hard into the student housing and community association markets — niche, but wildly sticky customers.
6
The Giveaway
If you're a landlord or property management company, this Santa Barbara SaaS firm probably runs your rent rolls, maintenance tickets, and tenant portals all in one place.

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What's Driving APPF's Business? Latest 10-Q Breakdown

✓ 30/30 datapoints verified

AI-extracted from APPFOLIO INC's 10-Q filed 2026-07-23 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

AppFolio grew Q2 FY2026 revenue 19% YoY to $281.1M, driven by Value Added Services (+22% YoY), while GAAP operating margin expanded to 18.8% from 17.2%.

Biggest Revenue Drivers

Value Added Services$219.5M+22% YoY

Increased usage of payments, tenant screening, and risk mitigation services as units under management grew 8% YoY

Subscription Services$59.8M+14% YoY

Growth in property management units under management drove Subscription Services users

Biggest Revenue Drivers

Total revenue: $281.1M+19% YoY

Value Added Services$219.5M+22% YoY

Increased usage of payments, tenant screening, and risk mitigation services as units under management grew 8% YoY

Subscription Services$59.8M+14% YoY

Growth in property management units under management drove Subscription Services users

Other$1.9M-37% YoY

Largest Expense Items

Cost of revenue (exclusive of D&A)$102.6M+22% YoY

Higher third-party service provider costs of $15.6M due to increased Value Added Services adoption and usage

Research and product development$51.0M+9% YoY

$3.5M increase in personnel-related costs including stock-based compensation, driven by headcount growth

Sales and marketing$43.9M+19% YoY

$5.2M increase in personnel-related costs, including stock-based and performance-based compensation

General and administrative$25.6M+17% YoY

$2.4M increase in software and professional fees

Margins: GAAP operating margin rose to 18.8% from 17.2% and non-GAAP operating margin rose to 27.1% from 26.2%, as revenue growth outpaced increases in cost of revenue and operating expenses.

Watch Items from the Filing

Effective tax rate jumped to 23.7% from 14.3% YoY, primarily due to higher pre-tax income and a decrease in excess tax benefits from stock-based compensation.
Revenue is generated primarily from customers in the United States, indicating limited geographic diversification.
Committed to a minimum of $219.3M in cloud computing vendor spend through 2031, of which $36.2M is short-term.
Operates as a single reportable segment with the CEO as CODM using consolidated net income as the sole measure of performance, limiting segment-level visibility.
$125.0M remains available under the 2025 Stock Repurchase Program, but no shares were repurchased in Q2 2026 after $125.0M repurchased in Q1 2026.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$281.1M

Net Income

Q2 2026

$41.5M

Free Cash Flow

Q2 2026

$87.6M

Operating Margin

Q2 2026

18.8%

ROIC

Q2 2026

40.3%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+19.7% YoY

$950.8MFY 2025

FY22 $471.9MFY23 $620.4MFY24 $794.2MFY25 $950.8M

Net Income

-30.9% YoY

$140.9MFY 2025

FY22 $-68.1MFY23 $2.7MFY24 $204.1MFY25 $140.9M

Operating Income

+12.7% YoY

$152.9MFY 2025

FY22 $-72.4MFY23 $963.0KFY24 $135.6MFY25 $152.9M

EPS (Diluted)

-30.1% YoY

$3.88FY 2025

FY22 $-1.95FY23 $0.07FY24 $5.55FY25 $3.88

Total Assets

+9.9% YoY

$689.0MFY 2025

FY22 $381.2MFY23 $408.9MFY24 $626.7MFY25 $689.0M

Total Debt

—FY 2025

FY22 —FY23 —FY24 —FY25 —

Op. Cash Flow

+28.7% YoY

$242.1MFY 2025

FY22 $25.4MFY23 $60.3MFY24 $188.2MFY25 $242.1M

Free Cash Flow

+28.4% YoY

$238.9MFY 2025

FY22 $18.8MFY23 $51.2MFY24 $186.1MFY25 $238.9M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$950.8M +19.7%	$794.2M +28.0%	$620.4M +31.5%	$471.9M +31.3%	$359.4M +15.9%	$310.1M
Net Income	$140.9M -30.9%	$204.1M +7452.5%	$2.7M +104.0%	$-68.1M -6726.4%	$1.0M -99.4%	$158.4M
Operating Income	$152.9M +12.7%	$135.6M +13985.6%	$963.0K +101.3%	$-72.4M -509.3%	$-11.9M -221.4%	$9.8M
EPS (Diluted)	$3.88 -30.1%	$5.55 +7828.6%	$0.07 +103.6%	$-1.95 -6600.0%	$0.03 -99.3%	$4.44
Total Assets	$689.0M +9.9%	$626.7M +53.3%	$408.9M +7.3%	$381.2M -6.6%	$408.0M +4.8%	$389.5M
Total Debt	—	—	—	—	—	$0.00
Operating Cash Flow	$242.1M +28.7%	$188.2M +212.1%	$60.3M +137.7%	$25.4M -28.3%	$35.4M -26.7%	$48.3M
Free Cash Flow	$238.9M +28.4%	$186.1M +263.3%	$51.2M +172.2%	$18.8M -31.0%	$27.3M -6.7%	$29.3M

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Available Research

13F Pro tracks comprehensive data for APPFOLIO INC including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of APPF

BlackRock, Inc.
$424.3M2,645,927 sh
PRINCIPAL FINANCIAL GROUP INC
$257.4M1,605,135 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$238.9M1,490,058 sh
Ashe Capital Management, LP
$168.0M1,047,915 sh
VANGUARD CAPITAL MANAGEMENT LLC
$167.0M1,041,438 sh
STATE STREET CORP
$122.8M766,131 sh
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC
$115.7M721,826 sh
LONDON CO OF VIRGINIA
$112.8M703,151 sh
PRICE T ROWE ASSOCIATES INC /MD/
$112.3M700,358 sh
Nellore Capital Management LLC
$105.0M654,865 sh

Fund	Value	Shares
BlackRock, Inc.	$424.3M	2,645,927
PRINCIPAL FINANCIAL GROUP INC	$257.4M	1,605,135
VANGUARD PORTFOLIO MANAGEMENT LLC	$238.9M	1,490,058
Ashe Capital Management, LP	$168.0M	1,047,915
VANGUARD CAPITAL MANAGEMENT LLC	$167.0M	1,041,438
STATE STREET CORP	$122.8M	766,131
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC	$115.7M	721,826
LONDON CO OF VIRGINIA	$112.8M	703,151
PRICE T ROWE ASSOCIATES INC /MD/	$112.3M	700,358
Nellore Capital Management LLC	$105.0M	654,865

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Is APPF a good stock to buy?

13F Pro's AI-powered analysis of APPFOLIO INC (APPF) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for APPF are available on the APPF stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. APPF is classified as a mid company.

Which hedge funds own APPF?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling APPF. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of APPFOLIO INC's investment landscape.