AppFolio, Inc. vs Veeva Systems Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q2 2026
Summary Verdict
APPF: 2—VEEV: 3wins
Rule of 40
40.6APPF
107.7VEEV
check_circleVEEV leads
Revenue Growth
29.5%APPF
24.2%VEEV
check_circleAPPF leads
Gross Margin
87%APPF
75%VEEV
check_circleAPPF leads
FCF Margin
11.2%APPF
83.5%VEEV
check_circleVEEV leads
Operating Margin
17.4%APPF
28.9%VEEV
check_circleVEEV leads
NRR
—APPF
—VEEV
Metric
Rule of 40Efficiency score
APPF
40.6
VEEV
107.7check_circle
Revenue GrowthYoY
APPF
29.5%check_circle
VEEV
24.2%
Gross Margin% of revenue
APPF
87%check_circle
VEEV
75%
FCF MarginFree cash flow
APPF
11.2%
VEEV
83.5%check_circle
Operating MarginGAAP
APPF
17.4%
VEEV
28.9%check_circle
NRRNet retention
APPF
N/A
VEEV
N/A
EV / RevenueValuation multiple
APPF
7.5xcheck_circle
VEEV
12.8x
Market CapUSD
APPF
$7.7B
VEEV
$44.7Bcheck_circle
ARR GrowthYoY
APPF
N/A
VEEV
N/A
CAC PaybackMonths to recover
APPF
N/A
VEEV
N/A
insights
Analysis
As of Q2 2026, AppFolio, Inc. trades at 7.5x EV/Revenue versus Veeva Systems Inc. at 12.8x. On the Rule of 40, AppFolio, Inc. scores 40.6 compared to Veeva Systems Inc.'s 107.7, placing Veeva Systems Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 87% vs Veeva Systems Inc. 75%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.