Appfolio Inc (APPF)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	339,195	297,312	262,656	225,953	240,569	265,546	271,872	264,991	288,743	297,381	291,699	287,267	285,784	285,920	284,516	144,504	124,875	131,950	125,417	118,215
Debt-to-equity 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	0.66	0.77	0.36	0.38	0.41

March 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $339,195K
= 0.00

The debt-to-equity ratio of Appfolio Inc has shown a consistent trend of being relatively stable at low levels, maintaining a value of 0.00 for most recent quarters. This indicates that the company has either a very low level of debt or no debt at all in relation to its equity. However, there was a noticeable increase in the debt-to-equity ratio in the most recent quarter, rising to 0.77 from 0.66 in the previous quarter. This suggests a potential increase in debt relative to equity, which could warrant further investigation into the company's financing strategies and overall financial health. Overall, while the company historically maintained a low debt-to-equity ratio, the recent uptick highlights the importance of monitoring changes in leverage levels over time to assess the company's financial risk and capital structure.