Appfolio Inc (APPF)

Total asset turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Revenue (ttm)	US$ in thousands	680,437	627,476	577,852	536,077	505,125	473,067	444,385	414,806	386,300	359,871	336,457	323,816	315,202	308,229	302,747	287,049	269,765	254,358	237,843	220,663
Total assets	US$ in thousands	438,770	408,889	378,600	351,359	370,700	381,217	384,882	375,428	400,034	408,017	407,387	399,072	378,697	389,480	386,272	320,351	293,427	260,102	233,828	226,094
Total asset turnover		1.55	1.53	1.53	1.53	1.36	1.24	1.15	1.10	0.97	0.88	0.83	0.81	0.83	0.79	0.78	0.90	0.92	0.98	1.02	0.98

March 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $680,437K ÷ $438,770K
= 1.55

The total asset turnover ratio for Appfolio Inc has shown an upward trend over the past few quarters, indicating an improvement in the company's ability to generate sales from its assets. The ratio increased from 0.98 in Jun 2019 to 1.55 in Mar 2024, reaching its highest point in the most recent period. This suggests that the company is becoming more efficient in utilizing its assets to generate revenue.

A total asset turnover ratio above 1.0 typically indicates that the company is generating more in sales than the value of its total assets, which is generally a positive sign of operational efficiency. The consistent increase in the total asset turnover ratio demonstrates Appfolio Inc's improving asset management and sales generation capabilities over time. It indicates that the company is getting better at using its assets to drive revenue, which can lead to improved profitability and shareholder value.