Dayforce Inc. (DAY)

Receivables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	1,513,700	1,246,200	1,024,200	842,500	824,100
Receivables	US$ in thousands	234,400	184,700	150,300	105,500	84,100
Receivables turnover		6.46	6.75	6.81	7.99	9.80

December 31, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $1,513,700K ÷ $234,400K
= 6.46

The receivables turnover of Dayforce Inc. has shown a decreasing trend over the past five years. The turnover ratio has declined from 9.80 in 2019 to 6.46 in 2023. This suggests that the company is taking longer to collect its accounts receivable, which could indicate a potential issue with its credit policies, customer payment behavior, or collection efficiency. A lower receivables turnover ratio may also indicate a decrease in sales or a build-up of accounts receivable, which could impact the company's liquidity and cash flow. It is important for Dayforce Inc. to closely monitor and address the factors affecting its receivables turnover to ensure efficient management of its working capital and overall financial health.