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Flagship explainer

What drives AppFolio, Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity27%Tax burden87%net income ÷ pretax incomeInterest burden105%pretax ÷ operating incomeOperating margin16%operating income ÷ revenueAsset turnover1.45×revenue ÷ average assetsEquity multiplier1.24×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$141MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001433195-26-000011 · filed Feb 5, 2026
Income before tax$161MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001433195-26-000011 · filed Feb 5, 2026
Operating income$153MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001433195-26-000011 · filed Feb 5, 2026
$951MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001433195-26-000011 · filed Feb 5, 2026
Ending assets$689MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001433195-26-000011 · filed Feb 5, 2026
Beginning assets$627MFY2024
  • 10-K · FY 2024Filing detailsAccession 0001433195-26-000011 · filed Feb 5, 2026
$543MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001433195-26-000011 · filed Feb 5, 2026
$519MFY2024
  • 10-K · FY 2024Filing detailsAccession 0001433195-26-000011 · filed Feb 5, 2026
Source: · event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set
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