Appfolio Inc (APPF)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	627,476	477,223	360,251	495,865	254,358
Receivables	US$ in thousands	27,709	16,503	12,595	10,057	7,562
Receivables turnover		22.65	28.92	28.60	49.31	33.64

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $627,476K ÷ $27,709K
= 22.65

The receivables turnover ratio for Appfolio Inc has fluctuated over the past five years. The ratio indicates how many times the company collects its average accounts receivable balance during a specific period. A higher receivables turnover ratio typically suggests that the company is efficient in collecting payments from its customers.

In 2023, the receivables turnover ratio was 22.65, showing a decrease from the previous year. This could indicate that the company took longer to collect payments from its customers in 2023 compared to 2022.

In 2022 and 2021, the receivables turnover ratios were relatively stable at 28.92 and 28.60, respectively. This indicates that the company maintained a consistent pace in collecting payments from its customers during these years.

The receivables turnover ratio was significantly higher in 2020 at 49.31, indicating that the company collected payments from its customers at a much faster rate compared to other years. This could signify strong collection practices or possibly changes in the company's customer base or sales terms.

In 2019, the receivables turnover ratio was 33.64, indicating that the company was efficient in collecting payments from its customers, although not as high as in 2020.

Overall, fluctuations in the receivables turnover ratio for Appfolio Inc over the past five years may suggest changes in the company's credit policies, customer payment behaviors, or other external factors impacting receivables management.