analyticsVertical SaaS
Data as of Q4 2025
Summary Verdict
APPF: 2—VEEV: 3wins
Rule of 40
44.9APPF
60.5VEEV
check_circleVEEV leads
Revenue Growth
19.7%APPF
16.3%VEEV
check_circleAPPF leads
Gross Margin
85%APPF
76%VEEV
check_circleAPPF leads
FCF Margin
25.1%APPF
44.2%VEEV
check_circleVEEV leads
Operating Margin
16.1%APPF
28.7%VEEV
check_circleVEEV leads
NRR
—APPF
—VEEV
Metric
Rule of 40Efficiency score
APPF
44.9
VEEV
60.5check_circle
Revenue GrowthYoY
APPF
19.7%check_circle
VEEV
16.3%
Gross Margin% of revenue
APPF
85%check_circle
VEEV
76%
FCF MarginFree cash flow
APPF
25.1%
VEEV
44.2%check_circle
Operating MarginGAAP
APPF
16.1%
VEEV
28.7%check_circle
NRRNet retention
APPF
N/A
VEEV
N/A
EV / RevenueValuation multiple
APPF
5.9xcheck_circle
VEEV
8.3x
Market CapUSD
APPF
$5.7B
VEEV
$27.8Bcheck_circle
ARR GrowthYoY
APPF
N/A
VEEV
N/A
CAC PaybackMonths to recover
APPF
N/A
VEEV
N/A
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insights
Analysis
As of Q4 2025, AppFolio, Inc. trades at 5.9x EV/Revenue versus Veeva Systems Inc. at 8.3x. On the Rule of 40, AppFolio, Inc. scores 44.9 compared to Veeva Systems Inc.'s 60.5, placing Veeva Systems Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 85% vs Veeva Systems Inc. 76%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.