Dayforce Inc. (DAY)

Debt-to-capital 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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	659,300	660,700	662,100
Total stockholders’ equity	US$ in thousands	2,398,200	2,266,900	2,240,200	2,194,200	2,109,400	2,051,200	2,094,300	2,140,800	2,227,500	2,221,800	2,199,800	2,159,300	2,098,200	2,036,300	1,985,700	1,885,600	1,882,300	1,853,100	1,757,100	1,686,800
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.26	0.27	0.28

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,398,200K)
= 0.00

The debt-to-capital ratio for Dayforce Inc. has consistently been at 0.00 for the majority of the periods analyzed, indicating that the company has not relied heavily on debt financing relative to its capital structure during those periods. However, starting from the fourth quarter of 2019, the ratio increased gradually to 0.26, 0.27, and 0.28 in subsequent quarters. This suggests that the company began to utilize more debt in relation to its capital, which could indicate a shift in its financing strategy during these periods. It is important for stakeholders to monitor this trend closely to assess the potential impacts on the company's financial health and risk profile.