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/research/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 2026-04-23, the biggest revenue drivers are: Value Added Services ($201.4M, +22% YoY); Subscription Services ($58.2M, +18% YoY); Other ($2.6M, -25% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/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 depreciation and amortization) ($95.0M, +19% YoY); Research and product development ($49.6M, +13% YoY); Sales and marketing ($37.5M, +21% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 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

75.5/100

Rank #123 of 2,879 stocksTOP 5%

View Technology peers →

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

Revenue Growth

83.4/100

Profitability

73.2/100

Balance Sheet

97.0/100

Earnings Quality

97.0/100

Free Cash Flow

79.8/100

Institutional Flow

89.5/100

Revenue Scale

48.7/100

Dilution Risk

20.7/100

APPF Stock Analysis & AI Quality Score

AI stock analysis and institutional research for APPFOLIO INC (APPF), a Technology sector company. 13F Pro's AI-powered ranking engine scores APPF at 75.5/100 on a 32-signal composite quality model, placing it at rank #123 of 2,879 stocks — the top 5% of the AI-ranked universe. APPF scores in the top quartile across balance sheet strength (97.0), earnings quality (97.0), institutional flow (89.5). Shareholder dilution risk is elevated at 20.7/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), APPFOLIO INC reports quarterly revenue of $262.2M, net income of $42.4M, an operating margin of 19.4%. 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 8 and 87 since 2021, currently 75.5 — a stable long-term trajectory across 56 quarterly and live scoring snapshots.

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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

AI-extracted from APPFOLIO INC's 10-Q filed 2026-04-23 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Revenue grew 20% YoY to $262.2M, with Value Added Services (payments, screening, risk mitigation) rising 22%, while GAAP operating margin expanded to 19.4% from 15.5%.

Biggest Revenue Drivers

Total revenue: $262.2M+20% YoY

Value Added Services$201.4M+22% YoY

Increased adoption and usage of payments, tenant screening, and risk mitigation services.

Subscription Services$58.2M+18% YoY

Growth driven by 8% increase in property management units under management to 9.5M.

Other$2.6M-25% YoY

Implementation and legacy customer services.

Largest Expense Items

Cost of revenue (exclusive of depreciation and amortization)$95.0M+19% YoY

Higher third-party service provider costs of $14.6M due to increased adoption of Value Added Services; remained 36.2% of revenue.

Research and product development$49.6M+13% YoY

$4.8M increase in personnel-related costs including stock-based compensation, net of capitalized software development, driven by headcount growth.

Sales and marketing$37.5M+21% YoY

$4.5M increase in personnel-related costs plus $1.1M increase in advertising and promotion from targeted go-to-market investment.

General and administrative$24.3M+4% YoY

Stayed relatively flat; decreased as percentage of revenue to 9.3% from 10.7%.

Margins: GAAP operating margin expanded to 19.4% from 15.5% YoY; non-GAAP operating margin improved to 27.3% from 24.3%. Management expects cost of revenue, sales & marketing, R&D, and G&A to stay relatively flat as percentages of revenue for full-year 2026.

Watch Items from the Filing

Cloud computing commitment: $219.3M minimum spend through 2031 ($36.2M short-term), with ability to pay more based on usage; significant long-term operational leverage.
Liability to landlord insurance estimated at $7.5M (March 2026 vs $6.6M Dec 2025); insurance reserves and collateral deposits held; no material adverse impact expected.

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

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

Revenue

Q1 2026

$262.2M

Net Income

Q1 2026

$42.4M

Free Cash Flow

Q1 2026

$34.1M

Operating Margin

Q1 2026

19.4%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+28.0% YoY

$794.2MFY 2024

FY20 $310.1MFY21 $359.4MFY23 $620.4MFY24 $794.2M

Net Income

+7452.5% YoY

$204.1MFY 2024

FY20 $158.4MFY21 $1.0MFY23 $2.7MFY24 $204.1M

Operating Income

+13985.6% YoY

$135.6MFY 2024

FY20 $9.8MFY21 $-11.9MFY23 $963.0KFY24 $135.6M

EPS (Diluted)

+7828.6% YoY

$5.55FY 2024

FY20 $4.44FY21 $0.03FY23 $0.07FY24 $5.55

Total Assets

+53.3% YoY

$626.7MFY 2024

FY20 $389.5MFY21 $408.0MFY23 $408.9MFY24 $626.7M

Total Debt

—FY 2024

FY20 $0.00FY21 —FY23 —FY24 —

Op. Cash Flow

+212.1% YoY

$188.2MFY 2024

FY20 $48.3MFY21 $35.4MFY23 $60.3MFY24 $188.2M

Metric	FY 2024	FY 2023	FY 2021	FY 2020	FY 2018	FY 2016
Revenue	$794.2M +28.0%	$620.4M +72.6%	$359.4M +15.9%	$310.1M +63.1%	$190.1M +80.0%	$105.6M
Net Income	$204.1M +7452.5%	$2.7M +162.8%	$1.0M -99.4%	$158.4M +693.3%	$20.0M +341.1%	$-8.3M
Operating Income	$135.6M +13985.6%	$963.0K +108.1%	$-11.9M -221.4%	$9.8M -50.2%	$19.7M +333.4%	$-8.4M
EPS (Diluted)	$5.55 +7828.6%	$0.07 +133.3%	$0.03 -99.3%	$4.44 +692.9%	$0.56 +324.0%	$-0.25
Total Assets	$626.7M +53.3%	$408.9M +0.2%	$408.0M +4.8%	$389.5M +121.6%	$175.7M +89.8%	$92.6M
Total Debt	—	—	—	$0.00 -100.0%	$49.8M	—
Operating Cash Flow	$188.2M +212.1%	$60.3M +70.3%	$35.4M -26.7%	$48.3M +33.2%	$36.3M +215.4%	$11.5M

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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.
$402.0M2,547,098 sh
PRINCIPAL FINANCIAL GROUP INC
$237.7M1,505,882 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$234.4M1,485,373 sh
VANGUARD CAPITAL MANAGEMENT LLC
$165.4M1,047,945 sh
Ashe Capital Management, LP
$165.4M1,047,915 sh
STATE STREET CORP
$113.9M721,657 sh
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC
$101.5M643,231 sh
Nellore Capital Management LLC
$100.4M636,302 sh
GEODE CAPITAL MANAGEMENT, LLC
$79.9M506,289 sh
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC
$71.7M454,463 sh

Fund	Value	Shares
BlackRock, Inc.	$402.0M	2,547,098
PRINCIPAL FINANCIAL GROUP INC	$237.7M	1,505,882
VANGUARD PORTFOLIO MANAGEMENT LLC	$234.4M	1,485,373
VANGUARD CAPITAL MANAGEMENT LLC	$165.4M	1,047,945
Ashe Capital Management, LP	$165.4M	1,047,915
STATE STREET CORP	$113.9M	721,657
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC	$101.5M	643,231
Nellore Capital Management LLC	$100.4M	636,302
GEODE CAPITAL MANAGEMENT, LLC	$79.9M	506,289
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC	$71.7M	454,463

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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.

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.