Appfolio Inc (APPF)

Quick ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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
Cash	US$ in thousands	42,504	62,417	59,639	59,214	49,509	59,937	24,698	103,925	70,769	67,232	42,626	49,536	57,847	84,444	48,610	44,744	140,263	144,028	53,315	56,779
Short-term investments	US$ in thousands	235,745	268,951	221,693	184,298	162,196	131,589	139,273	65,022	89,297	72,018	75,425	78,389	64,600	76,034	102,978	103,341	28,256	32,689	20,930	7,952
Receivables	US$ in thousands	24,346	25,581	25,691	26,179	27,709	20,359	20,033	17,416	16,503	14,884	16,175	16,154	12,595	12,184	14,973	12,524	10,057	9,416	12,663	9,617
Total current liabilities	US$ in thousands	63,280	63,697	63,349	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
Quick ratio		4.78	5.60	4.85	4.81	3.43	2.86	2.46	2.33	2.88	2.67	2.45	2.67	2.57	3.51	3.41	3.73	3.59	3.31	1.84	1.92

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($42,504K + $235,745K + $24,346K) ÷ $63,280K
= 4.78

Appfolio Inc's quick ratio, which measures the company's ability to meet its short-term obligations with its most liquid assets, has shown fluctuations over the past few years. The quick ratio has demonstrated a generally positive trend, starting at 1.92 as of March 31, 2020, and steadily increasing to 4.81 as of March 31, 2024, indicating an improvement in the company's short-term liquidity position.

However, there have been some fluctuations in the quick ratio over the periods analyzed. For example, there was a slight decline from 3.73 as of March 31, 2021, to 2.57 as of December 31, 2021, before rebounding to 3.43 as of December 31, 2023. This fluctuation suggests some variability in the company's ability to quickly cover its current liabilities with its liquid assets.

Overall, Appfolio Inc's quick ratio has generally been healthy and increasing, indicating that the company has a strong ability to meet its short-term obligations using its liquid assets. It is important for investors and stakeholders to continue monitoring this ratio to ensure the company's continued ability to meet its short-term financial commitments.