Dayforce Inc. (DAY)

Fixed asset turnover

		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	Mar 31, 2019
Revenue (ttm)	US$ in thousands	1,513,700	1,450,100	1,388,200	1,323,500	1,246,200	1,192,200	1,133,800	1,083,000	1,024,200	964,900	912,100	854,300	842,500	841,500	839,400	843,100	824,100	802,600	779,900	762,900
Property, plant and equipment	US$ in thousands	210,100	211,100	198,300	185,500	174,900	144,700	141,400	134,300	128,200	143,500	146,200	142,200	136,400	132,200	129,600	124,600	128,300	108,800	106,300	103,900
Fixed asset turnover		7.20	6.87	7.00	7.13	7.13	8.24	8.02	8.06	7.99	6.72	6.24	6.01	6.18	6.37	6.48	6.77	6.42	7.38	7.34	7.34

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,513,700K ÷ $210,100K
= 7.20

Fixed asset turnover is a financial ratio that measures a company's ability to generate revenue from its investment in fixed assets. Dayforce Inc. has shown varying levels of fixed asset turnover over the past few years. The ratio has generally remained strong, averaging around 7.00, which indicates that the company efficiently utilizes its fixed assets to generate sales.

The trend in fixed asset turnover for Dayforce Inc. shows some fluctuations on a quarterly basis, with values ranging from 6.01 to 8.24. The company experienced the highest fixed asset turnover in the third quarter of 2022 with a ratio of 8.24, indicating that it was able to generate a high level of sales relative to its investment in fixed assets during that period.

Overall, Dayforce Inc. has demonstrated a consistent ability to efficiently utilize its fixed assets to generate revenue, with the ratio remaining relatively high and stable over the years. This suggests that the company's management is effectively managing its fixed assets to drive sales growth and improve operational efficiency.