Dayforce Inc. (DAY)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	646,500	473,200	382,300	341,300	368,200
Revenue	US$ in thousands	1,513,700	1,246,200	1,024,200	842,500	824,100
Gross profit margin		42.71%	37.97%	37.33%	40.51%	44.68%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $646,500K ÷ $1,513,700K
= 42.71%

Dayforce Inc.'s gross profit margin has shown some fluctuations over the past five years. It increased from 40.51% in 2020 to 44.68% in 2019, indicating an improvement in profitability. However, the margin decreased to 37.33% in 2021 before recovering to 37.97% in 2022 and further increasing to 42.71% in 2023.

This upward trend in the gross profit margin over the last two years suggests that Dayforce Inc. has been able to better control its production costs and/or increase the selling prices of its products/services. A higher gross profit margin indicates that the company is generating more revenue from its core business activities after accounting for the cost of goods sold.

It is crucial for Dayforce Inc. to continue monitoring and managing its costs effectively to sustain and potentially improve its gross profit margin in the future.