Dayforce Inc. (DAY)

Debt-to-equity 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-equity 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	0.36	0.38	0.39

December 31, 2023 calculation

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

The debt-to-equity ratio for Dayforce Inc. over the past five years has fluctuated between 0.00 and 0.39. The ratio indicates the proportion of the company's capital that is financed through debt versus equity. A ratio of 0.00 suggests that the company had no debt relative to its equity during those periods.

The increase in the ratio from 0.00 in 2019 to 0.39 in 2019 indicates that the company began to rely more on debt financing compared to equity over the years. This shift may have been a strategic decision to fund growth opportunities, make investments, or manage cash flow effectively.

A rising debt-to-equity ratio could indicate that the company is taking on more leverage, which may amplify returns on equity but also increase financial risk. It is essential to monitor the trend over time and assess the company's ability to service its debt obligations. Additionally, investors and stakeholders should consider the reasons behind the changes in the ratio and the overall financial health and stability of the company.