Concentrix Corporation (CNXC)

Fixed asset turnover

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021
Revenue	US$ in thousands	7,114,710	6,324,470	5,587,020
Property, plant and equipment	US$ in thousands	748,691	403,829	407,144
Fixed asset turnover		9.50	15.66	13.72

November 30, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $7,114,710K ÷ $748,691K
= 9.50

The fixed asset turnover ratio for Concentrix Corp. has fluctuated over the past five years. In 2023, the fixed asset turnover ratio was 9.50, a decrease from 15.66 in 2022. This decrease indicates that the company generated $9.50 in net sales for every dollar invested in fixed assets during the year. The decline in the ratio may suggest decreased efficiency in utilizing fixed assets to generate sales. However, it is important to consider other factors such as changes in the company's capital structure or investment in new fixed assets that may have impacted the ratio. Overall, further analysis of the company's operational and investment activities is needed to fully understand the reasons behind the fluctuating fixed asset turnover ratios.