Dayforce Inc. (DAY)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 570,300 | 510,300 | 486,600 | 428,600 | 431,900 | 408,400 | 371,200 | 354,800 | 367,500 | 378,800 | 335,200 | 339,600 | 188,200 | 554,600 | 526,900 | 255,300 | 281,300 | 270,900 | 237,900 | 206,300 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | 496,000 | 459,000 | 1,617,100 | 1,066,800 | 481,000 | 1,889,600 | 2,494,900 |
| Receivables | US$ in thousands | 234,400 | — | — | — | 184,700 | — | — | — | 150,300 | — | — | — | 105,500 | — | — | — | 84,100 | — | — | — |
| 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 |
| Quick ratio | 0.15 | 0.09 | 0.11 | 0.07 | 0.12 | 0.09 | 0.07 | 0.05 | 0.14 | 0.07 | 0.10 | 0.08 | 0.08 | 0.38 | 0.36 | 0.50 | 0.42 | 0.27 | 0.52 | 0.58 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($570,300K
+ $—K
+ $234,400K)
÷ $5,334,900K
= 0.15
The quick ratio of Dayforce Inc. has displayed fluctuating trends over the past five years. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations using its most liquid assets.
In the most recent period, as of December 31, 2023, the quick ratio stands at 0.15, which is a slight improvement compared to the previous quarter at 0.09 on September 30, 2023. However, the ratio remains significantly lower than 1, suggesting potential liquidity concerns.
Looking back at historical data, the quick ratio has shown variability with occasional spikes, such as the higher ratios in March 2020 (0.50) and September 2020 (0.38). These instances indicate improved ability to cover short-term liabilities with liquid assets.
Overall, the quick ratio trend for Dayforce Inc. has been inconsistent, and it is important for stakeholders to monitor this metric closely to assess the company's liquidity position and ability to meet its immediate financial obligations.
Peer comparison
Dec 31, 2023