Dayforce Inc. (DAY)

Total asset 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
Total assets	US$ in thousands	9,010,900	8,463,500	7,166,200	6,701,300	6,085,700
Total asset turnover		0.17	0.15	0.14	0.13	0.14

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $1,513,700K ÷ $9,010,900K
= 0.17

The total asset turnover of Dayforce Inc. has shown a consistent improvement over the last five years, increasing from 0.14 in 2019 to 0.17 in 2023. This indicates that the company generated more revenue from each dollar of assets invested in its operations. The trend suggests that Dayforce Inc. has become more efficient in utilizing its assets to generate sales over the years, which is a positive sign of its operational effectiveness. Overall, the increasing total asset turnover ratio reflects favorable efficiency and productivity in the company's asset management.