Dayforce Inc. (DAY)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 579,700 | 570,300 | 431,900 | 367,500 | 188,200 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 290,600 | 5,334,900 | 4,533,500 | 3,741,900 | 3,863,900 |
| Quick ratio | 1.99 | 0.11 | 0.10 | 0.10 | 0.05 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($579,700K
+ $—K
+ $—K)
÷ $290,600K
= 1.99
The quick ratio of Dayforce Inc. has shown a significant improvement over the years based on the data provided. Starting at a low 0.05 on December 31, 2020, the ratio has steadily increased to 0.10 on December 31, 2021, and has remained stable at this level for the following two years. However, there was a notable jump to 0.11 by December 31, 2023. The most striking change occurred by December 31, 2024, when the quick ratio surged to a high 1.99, indicating a substantial increase in the company's ability to meet its short-term obligations using its most liquid assets. Overall, this upward trend in the quick ratio portrays improved liquidity and financial health for Dayforce Inc. in recent years.
Peer comparison
Dec 31, 2024