Dayforce Inc. (DAY)

Working capital 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
Total current assets	US$ in thousands	5,955,200	5,914,600	5,067,200	7,041,700	5,440,300	5,007,200	6,037,500	7,978,000	4,144,100	5,963,600	3,755,700	4,832,200	4,122,600	3,371,300	3,350,000	4,056,500	3,623,700	3,004,300	4,351,800	4,890,100
Total current liabilities	US$ in thousands	5,334,900	5,411,500	4,604,200	6,591,400	5,079,800	4,675,700	5,699,200	7,628,900	3,741,900	5,554,800	3,374,000	4,420,500	3,863,900	2,741,400	2,744,500	3,752,700	3,371,700	2,743,200	4,093,300	4,683,700
Working capital turnover		2.44	2.88	3.00	2.94	3.46	3.60	3.35	3.10	2.55	2.36	2.39	2.08	3.26	1.34	1.39	2.78	3.27	3.07	3.02	3.70

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,513,700K ÷ ($5,955,200K – $5,334,900K)
= 2.44

Dayforce Inc.'s working capital turnover has shown some variability over the past few years based on the provided data. The working capital turnover measures how efficiently a company is using its working capital to generate sales. A higher working capital turnover ratio indicates that the company is effectively managing its working capital to support its operations.

From the data provided, we can see that the working capital turnover for Dayforce Inc. has fluctuated between 1.34 and 3.70 over the past 20 quarters. The ratio seems to have peaked at 3.70 in the fourth quarter of 2019 and hit a low of 1.34 in the third quarter of 2020. This variability suggests that the company's efficiency in managing its working capital has not been consistent.

Overall, the average working capital turnover ratio for Dayforce Inc. appears to be around 2.80 based on the data provided. A comprehensive analysis would involve further investigation into the company's working capital management practices and strategies to understand the reasons behind the fluctuations in the working capital turnover ratio.