Appfolio Inc (APPF)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	480,896	426,438	279,023	229,854	192,948
Payables	US$ in thousands	1,141	2,473	1,704	1,040	1,927
Payables turnover		421.47	172.44	163.75	221.01	100.13

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $480,896K ÷ $1,141K
= 421.47

The payables turnover ratio for Appfolio Inc has exhibited variability over the past five years. In 2023, the company's payables turnover ratio notably increased to 421.47, indicating that the company paid its suppliers approximately 421.47 times during the year. This significant increase may suggest a more efficient management of accounts payable compared to the previous years.

In 2022, the payables turnover was 172.44, which was a moderate decrease from the previous year. This ratio further decreased in 2021 to 163.75, indicating a slightly lower frequency of paying off suppliers. The payables turnover ratio rebounded in 2020 to 221.01, showing an improvement in managing payables compared to 2019 where the ratio was 100.13.

Overall, the trend in the payables turnover ratio for Appfolio Inc has been fluctuating, with fluctuations potentially influenced by changes in the company's payment policies, supplier relationships, or operational efficiency. It is crucial for stakeholders to closely monitor this ratio to assess the company's ability to manage its accounts payable effectively.