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
64.1BSY
check_circleBSY leads
Revenue Growth
29.5%APPF
13.4%BSY
check_circleAPPF leads
Gross Margin
87%APPF
82%BSY
check_circleAPPF leads
FCF Margin
11.2%APPF
50.7%BSY
check_circleBSY leads
Operating Margin
17.4%APPF
26.8%BSY
check_circleBSY leads
NRR
—APPF
—BSY
Metric
Rule of 40Efficiency score
APPF
40.6
BSY
64.1check_circle
Revenue GrowthYoY
APPF
29.5%check_circle
BSY
13.4%
Gross Margin% of revenue
APPF
87%check_circle
BSY
82%
FCF MarginFree cash flow
APPF
11.2%
BSY
50.7%check_circle
Operating MarginGAAP
APPF
17.4%
BSY
26.8%check_circle
NRRNet retention
APPF
N/A
BSY
N/A
EV / RevenueValuation multiple
APPF
6.3xcheck_circle
BSY
7.6x
Market CapUSD
APPF
$6.4B
BSY
$10.4Bcheck_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 6.3x EV/Revenue versus BENTLEY SYSTEMS INC at 7.6x. On the Rule of 40, AppFolio, Inc. scores 40.6 compared to BENTLEY SYSTEMS INC's 64.1, 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.