Appfolio Inc (APPF)

Return on assets (ROA)

		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
Net income (ttm)	US$ in thousands	76,475	2,702	-47,266	-77,873	-88,942	-68,119	-49,750	-45,729	-13,738	1,028	1,846	139,663	156,899	158,403	163,344	30,646	34,540	36,282	34,503	35,049
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
ROA		17.43%	0.66%	-12.48%	-22.16%	-23.99%	-17.87%	-12.93%	-12.18%	-3.43%	0.25%	0.45%	35.00%	41.43%	40.67%	42.29%	9.57%	11.77%	13.95%	14.76%	15.50%

March 31, 2024 calculation

ROA = Net income (ttm) ÷ Total assets
= $76,475K ÷ $438,770K
= 17.43%

The return on assets (ROA) for Appfolio Inc has fluctuated significantly over the past few quarters. The ROA was consistently negative from March 2020 to September 2021, indicating that the company was not generating profits in relation to its total assets during this period.

Starting from December 2021, the ROA turned positive, reaching its peak at 41.43% in March 2021 and maintaining strong levels through December 2021. This positive trend suggests that the company's profitability in relation to its assets improved significantly during this period.

However, the ROA decreased sharply in the subsequent quarters, with negative values recorded in March 2022, June 2022, September 2022, and December 2022. This decline indicates a deterioration in the company's ability to generate profits from its assets during this period.

The ROA then rebounded in March 2023 but remained negative until December 2023. The latest ROA figure of 17.43% for March 2024 shows a significant improvement from the previous quarters, indicating that the company's profitability in relation to its assets has increased.

Overall, the analysis of Appfolio Inc's ROA highlights the company's volatile profitability performance in recent periods, with periods of negative returns followed by significant improvements and fluctuations.