AppFolio, Inc. vs BENTLEY SYSTEMS INC
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q2 2026
Summary Verdict
APPF: 2—BSY: 3wins
Rule of 40
40.6APPF
65.8BSY
check_circleBSY leads
Revenue Growth
29.5%APPF
16.4%BSY
check_circleAPPF leads
Gross Margin
87%APPF
82%BSY
check_circleAPPF leads
FCF Margin
11.2%APPF
49.4%BSY
check_circleBSY leads
Operating Margin
17.4%APPF
24.4%BSY
check_circleBSY leads
NRR
—APPF
—BSY
Metric
Rule of 40Efficiency score
APPF
40.6
BSY
65.8check_circle
Revenue GrowthYoY
APPF
29.5%check_circle
BSY
16.4%
Gross Margin% of revenue
APPF
87%check_circle
BSY
82%
FCF MarginFree cash flow
APPF
11.2%
BSY
49.4%check_circle
Operating MarginGAAP
APPF
17.4%
BSY
24.4%check_circle
NRRNet retention
APPF
N/A
BSY
N/A
EV / RevenueValuation multiple
APPF
7.3x
BSY
6.6xcheck_circle
Market CapUSD
APPF
$7.4B
BSY
$9.1Bcheck_circle
ARR GrowthYoY
APPF
N/A
BSY
N/A
CAC PaybackMonths to recover
APPF
N/A
BSY
N/A
insights
Analysis
As of Q2 2026, AppFolio, Inc. trades at 7.3x EV/Revenue versus BENTLEY SYSTEMS INC at 6.6x. On the Rule of 40, AppFolio, Inc. scores 40.6 compared to BENTLEY SYSTEMS INC's 65.8, placing BENTLEY SYSTEMS INC ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 87% vs BENTLEY SYSTEMS INC 82%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.