Stock fact sheet · data as of
AppFolio Inc. (APPF): fair value, margin of safety and Wheel Score
Ticker symbol APPF · Technology · Software - Application · United States · Class A common stock · Growth
APPF is AppFolio Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is APPF undervalued?
APPF closed at 236.85 on 5 Nov 2026, more than 30% above the GLS average fair value of 178.82. Only 3 of the 8 models that produced a value sit above the price. By our models the shares are priced well beyond what the filed earnings, cash flow and book value support; the "below fair value" Wheel Trade Filter keeps names like this under 70.
There is a wide gap between Graham Number (42.11) and Payback Time (314.14). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, APPF is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 10, growth score 82, out of 100).
Nine valuation models for APPF
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 195.99 | -17% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 42.11 | -82% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 243.96 | +3% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 104.38 | -56% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 293.45 | +24% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 183.30 | -23% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 314.14 | +33% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 53.26 | -78% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 4.58 | -98% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 252.25 | +7% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
AppFolio Inc. scores 8 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. On durability APPF scores 6.0/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.
Returns on capital are high - ROIC 23.0%, ROE 26.0%, ROA 19.5% - with debt at 0.13 times equity and a free-cash-flow yield of 3.3%.
AppFolio Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Value Added Services 78%, Subscription Services 21%, Other Services 1% (quarter Q3 FY2026).
Institutional ownership scores 8/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 8 / 9 | ROIC | 23.0% |
|---|---|---|---|
| GLS Moat | 6.0 / 10 | ROE | 26.0% |
| Debt / equity | 0.13 | ROA | 19.5% |
| Free-cash-flow yield | 3.3% | Payout ratio | 0% |
| Institutions | 8 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 41: Weak
With a Wheel Score of 41 AppFolio Inc. sits in the Weak band. It fails filter 3, below fair value - trades 32% above our fair value; Value (weak) is its weakest part.
Implied volatility is 47% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 2,890 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 597k shares a day on a market cap of $8.4B, with a beta of 0.87; the Stability part of the Wheel Score rates that good.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 32% above our fair value |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 32% above fair value | |
| Premium | Strong | implied volatility 47% | |
| Moat | Good | moat 6.0/10 | |
| Health | Strong | Piotroski 8/9 | |
| Red Flags | Strong | Red Flags score 95/100 | |
| Option trading | Weak | 412 contracts a day, 2,890 open interest | |
| Stability | Good | beta 0.87, $8.4B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for APPF in the nightly calendar.
Analysts downgraded APPF 1 time in the last 30 days with no upgrades; the latest action was a reiterated rating by Guggenheim on 23 Oct 2026.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Software - Application
The 12 companies below are the closest to AppFolio Inc. by market cap within the Software - Application industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| TTAN ServiceTitan, Inc. | 87.76 | 70.89 | -24% | 36Weak | $8.5B |
| DSGX The Descartes Systems Group Inc. | 94.74 | 65.94 | -44% | 42Weak | $8.1B |
| GTLB GitLab Inc. | 52.37 | 29.62 | -77% | 32Weak | $8.7B |
| ZETA Zeta Global Holdings Corp. | 31.78 | 19.96 | -59% | 35Weak | $7.9B |
| IDCC InterDigital, Inc. | 308.50 | 257.93 | -20% | 37Weak | $7.9B |
| PCTY Paylocity Holding Corporation | 170.96 | 185.42 | +8% | 73Good | $8.9B |
| YMM Full Truck Alliance Co. Ltd. | 9.01 | 14.03 | +36% | 51Fair | $9.4B |
| ESTC Elastic N.V. | 89.68 | 94.02 | +5% | 35Weak | $9.4B |
| LYFT Lyft, Inc. | 18.74 | 194.01 | +90% | 46Weak | $7.1B |
| AUR Aurora Innovation, Inc. | 4.08 | 0.0357 | -11315% | 24Weak | $7.1B |
| FROG JFrog Ltd. | 86.34 | 19.33 | -347% | 30Weak | $10.5B |
| CVLT Commvault Systems, Inc. | 162.44 | 51.84 | -213% | 41Weak | $6.6B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about APPF
What kind of share is APPF?
APPF is AppFolio Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is APPF undervalued right now?
No: at 236.85 the stock trades 32% above the GLS average fair value of 178.82 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of APPF and what does it mean?
APPF scores 41 out of 100 (Weak) - it fails Wheel Trade Filter 3. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for APPF?
178.82 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does AppFolio Inc. report earnings next?
No upcoming earnings date is recorded for APPF in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does APPF have listed options, and how liquid are they?
Yes. The nightly snapshot found 150 listed contracts with 2,890 open interest across all expiries and implied volatility of 47% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.