Appfolio Inc (APPF)

Receivables turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	794,202	627,476	477,223	360,251	495,865
Receivables	US$ in thousands	24,346	27,709	16,503	12,595	10,057
Receivables turnover		32.62	22.65	28.92	28.60	49.31

December 31, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $794,202K ÷ $24,346K
= 32.62

The receivables turnover for Appfolio Inc has shown varying trends over the past five years. In December 2020, the receivables turnover stood at a robust 49.31 times, indicating that the company efficiently converted its accounts receivable into cash during that period. However, there was a noticeable decline in the receivables turnover to 28.60 times by December 2021, suggesting a potential slowdown in collections or a change in credit policies.

Subsequently, there was a slight improvement in the receivables turnover to 28.92 times by December 2022, although it remained below the 2020 level. The trend reversed in December 2023, with a significant drop in the receivables turnover to 22.65 times, indicating possible challenges in collecting outstanding receivables.

Nonetheless, there was a notable rebound in December 2024, with the receivables turnover increasing to 32.62 times, suggesting a more efficient management of accounts receivable during that period. Overall, fluctuations in the receivables turnover may reflect changes in the company's credit policies, customer payment behavior, or industry conditions, necessitating further analysis to understand the underlying factors driving these trends.