Appfolio Inc (APPF)
Total asset 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 |
| Total assets | US$ in thousands | 408,889 | 381,217 | 408,017 | 389,480 | 260,102 |
| Total asset turnover | 1.53 | 1.25 | 0.88 | 1.27 | 0.98 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $627,476K ÷ $408,889K
= 1.53
Appfolio Inc's total asset turnover ratio has shown fluctuations over the past five years. In 2023, the company's total asset turnover was 1.53, indicating that the company generated $1.53 in sales for every $1 of total assets. This represents an improvement from the previous year, where the ratio was 1.25.
The upward trend in total asset turnover since 2021 suggests that Appfolio Inc has been more efficient in utilizing its assets to generate sales. This efficiency is further highlighted by comparing the 2023 ratio to the ratios in 2020 and 2019, which were 1.27 and 0.98 respectively.
Overall, the increasing trend in total asset turnover indicates that Appfolio Inc has been managing its assets more effectively to drive sales growth and generate revenue.
Peer comparison
Dec 31, 2023