Appfolio Inc (APPF)

Current ratio

		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
Total current assets	US$ in thousands	306,666	272,357	239,877	209,482	211,878	201,468	176,794	156,383	169,574	158,595	197,376	189,867	181,452	199,353	201,853	102,744	92,710	61,791	64,665	64,064
Total current liabilities	US$ in thousands	56,057	69,766	74,147	74,711	79,827	61,343	57,765	54,719	54,020	52,642	49,202	48,785	43,037	49,805	56,151	47,307	38,649	47,465	42,270	41,816
Current ratio		5.47	3.90	3.24	2.80	2.65	3.28	3.06	2.86	3.14	3.01	4.01	3.89	4.22	4.00	3.59	2.17	2.40	1.30	1.53	1.53

March 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $306,666K ÷ $56,057K
= 5.47

The current ratio of Appfolio Inc has shown fluctuations over the past few quarters. As of March 31, 2024, the current ratio stands at 5.47, reflecting a strong short-term liquidity position compared to previous periods. This indicates that the company has more than sufficient current assets to cover its current liabilities.

Looking back at the trend, there have been variations in the current ratio, with peaks and troughs observed in different quarters. The ratio has generally been above 2.0, which is considered a healthy level for most industries.

The highest current ratio was observed in the quarter ending March 31, 2021, at 4.22, while the lowest was on June 30, 2020, at 2.17. These fluctuations may indicate changes in the company's working capital management or shifts in its financial structure.

Overall, the current ratio has generally been trending positively, showing improvement in the company's ability to meet its short-term obligations with its current assets. However, it is essential to analyze other financial metrics and consider the company's specific circumstances to gain a comprehensive understanding of its financial health and liquidity position.