Appfolio Inc (APPF)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	2,702	-68,119	1,028	158,403	36,282
Total assets	US$ in thousands	408,889	381,217	408,017	389,480	260,102
ROA		0.66%	-17.87%	0.25%	40.67%	13.95%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $2,702K ÷ $408,889K
= 0.66%

The return on assets (ROA) for Appfolio Inc has varied significantly over the past five years. In 2023, the ROA was 0.66%, signaling a modest return on the company's assets. This is a notable improvement from the previous year's negative ROA of -17.87% in 2022. The positive ROA in 2023 may indicate better asset utilization or profitability compared to the prior year.

In 2021, the ROA was 0.25%, which was lower than the company's 2023 performance. However, the significant increase in ROA in 2020, at 40.67%, suggests a period of strong asset performance relative to the prior years. This exceptional performance may have been driven by strong revenue growth, effective cost management, or other factors that enhanced the company's profitability.

The ROA in 2019 was 13.95%, indicating a solid return on assets for the company in that year. The fluctuation in ROA over the five-year period may reflect changes in the company's business strategy, market conditions, or financial performance.

Overall, the analysis of Appfolio Inc's ROA suggests that the company has experienced varying levels of asset efficiency and profitability over the past five years, with notable improvements in 2023 compared to the prior year.