Appfolio price to book ratio APPF

Market value divided by the book value of the company's net assets, since 2015.

Today, Oct 23, 2026: 14.2×
10-year median: 18.5×
Against its 10-year history: 21st; percentile: 0 is its lowest day, 100 its highest
10-year range: 9.2× to 47.5×
Peer median: 6.0×

Appfolio's price to book ratio is 14.2× as of Oct 23, 2026.

That is below its ten-year median of 18.5×, lower than on 79% of days in the last ten years.

Over that time it ranged from 9.2× in Nov 2016 to 47.5× in Jun 2020.

The median for 10 infrastructure software stocks of a similar size is 6.0×.

Price to book ratio over time

median 18.5×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	14.2×	9.5×	16.6×
2025	17.1×	14.8×	25.1×
2024	22.0×	18.4×	30.5×
2023	23.6×	13.7×	30.6×
2022	13.6×	11.0×	15.8×
2021	14.4×	13.9×	21.9×
2020	21.7×	17.4×	47.5×
2019	30.2×	18.1×	38.5×
2018	18.2×	16.1×	30.1×
2017	17.5×	10.8×	22.9×
2016	11.6×	5.2×	11.6×
2015	6.4×	6.4×	9.3×

Against its peers

Companies in Software - Infrastructure nearest Appfolio's size, closest first, today.

Company	Price to book ratio
APPFAppfolio	14.2×
QLYSQualys	13.3×
PATHUiPath	3.8×
CVLTCommvault Systems	135×
OTEXOpen Text	1.7×
DBXDropbox	n/m
YOUClear Secure	29.8×
SAICScience Applications International	4.3×
BOXBox	n/m
PCTYPaylocity	7.7×
ACIWACI Worldwide	3.8×
Peer median	6.0×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Appfolio

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.