Dayforce Inc. (DAY)

Inventory turnover

Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cost of revenue US$ in thousands 947,900 867,200 773,000 641,900 501,200
Inventory US$ in thousands — 4,184,000 4,184,000 3,537,700 3,759,400
Inventory turnover — 0.21 0.18 0.18 0.13

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $947,900K ÷ $—K
= —

The inventory turnover ratio for Dayforce Inc. has shown an increasing trend from 0.13 in December 31, 2020, to 0.18 in both December 31, 2021 and December 31, 2022, and further to 0.21 in December 31, 2023. This indicates that the company's efficiency in managing its inventory has improved over the years, as it takes a shorter time to sell its inventory. However, it is worth noting that the data for December 31, 2024 is unavailable. Overall, a higher inventory turnover ratio suggests effective inventory management, which can lead to improved liquidity and profitability for the company.