Appfolio Inc (APPF)

Debt-to-assets 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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	95,146	95,760	47,375	47,677	47,979
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
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.30	0.33	0.18	0.20	0.21

March 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $438,770K
= 0.00

The debt-to-assets ratio for Appfolio Inc has remained consistently low at 0.00 for the recent quarters, indicating that the company has not relied heavily on debt financing to support its operations and investments. However, there was a noticeable increase in the ratio to 0.30 as of June 30, 2020, which slightly decreased to 0.33 by the end of September 2020. This suggests a slight increase in the proportion of debt relative to total assets during that period.

Subsequently, the ratio fluctuated between 0.18 and 0.21 for the following quarters, indicating a relatively conservative approach to debt management by Appfolio Inc. Overall, the historical trend of low debt-to-assets ratios suggests that the company has maintained a stable financial position with limited reliance on debt capital.