Dayforce Inc. (DAY)

Payables 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
Cost of revenue (ttm)	US$ in thousands	867,200	838,300	817,900	793,100	773,000	750,200	717,700	690,800	641,900	601,000	564,600	520,300	501,200	487,900	473,700	468,000	455,900	440,700	431,800	430,000
Payables	US$ in thousands	66,700	66,500	65,300	61,100	54,300	56,700	51,000	49,400	51,700	42,400	39,000	42,500	38,900	26,600	36,500	34,900	43,200	34,100	29,200	31,800
Payables turnover		13.00	12.61	12.53	12.98	14.24	13.23	14.07	13.98	12.42	14.17	14.48	12.24	12.88	18.34	12.98	13.41	10.55	12.92	14.79	13.52

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $867,200K ÷ $66,700K
= 13.00

Dayforce Inc.'s payables turnover ratio has been fluctuating over the past few quarters. The payables turnover ratio indicates how efficiently the company is managing its payments to suppliers. A higher turnover ratio suggests that the company is paying its suppliers more frequently, which could indicate good liquidity and strong supplier relationships.

From the data provided, the payables turnover ratio ranged from a low of 10.55 in March 2020 to a high of 18.34 in June 2020. The ratio seems to have peaked in June 2020 but has since been more volatile, fluctuating between 12.24 and 14.48 in the subsequent quarters.

Overall, while there have been fluctuations in the payables turnover ratio, it appears that Dayforce Inc. has been relatively consistent in managing its payments to suppliers over the past few years. Further analysis and comparison with industry benchmarks would provide a clearer picture of the company's efficiency in managing its payables.