Dayforce Inc. (DAY)

Receivables 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
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 (ttm) ÷ Receivables
= $1,513,700K ÷ $234,400K
= 6.46

The receivables turnover ratio for Dayforce Inc. has exhibited fluctuations over the past several periods. The latest available data shows a receivables turnover of 6.46 as of December 31, 2023. This ratio indicates that, on average, Dayforce Inc. collects its accounts receivable approximately 6.46 times during the period.

Comparing this to previous periods, we observe a decreasing trend in the receivables turnover ratio from 9.80 as of December 31, 2019. A decreasing receivables turnover ratio may suggest that the company is taking longer to collect payments from its customers, which could potentially lead to liquidity issues if not managed effectively.

It is important for Dayforce Inc. to monitor and analyze the causes of this decreasing trend in receivables turnover to ensure efficient management of its accounts receivable. Further investigation into the company's credit policies, collection procedures, and overall financial health may be warranted to address any underlying issues contributing to the declining turnover ratio.