Concentrix Corporation (CNXC)

Fixed asset turnover

		Feb 28, 2025	Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020
Revenue (ttm)	US$ in thousands	9,588,370	9,618,900	9,401,640	8,647,060	7,881,050	7,114,700	6,524,660	6,471,430	6,424,820	6,324,470	6,150,360	5,968,010	5,769,790	5,587,020	5,421,270	5,187,710	4,884,190	4,719,530	4,631,510	4,628,750
Property, plant and equipment	US$ in thousands	—	—	—	—	—	—	832,043	394,464	399,132	403,829	390,343	401,716	416,874	407,144	397,841	913,394	445,286	958,017	902,985	885,847
Fixed asset turnover		—	—	—	—	—	—	7.84	16.41	16.10	15.66	15.76	14.86	13.84	13.72	13.63	5.68	10.97	4.93	5.13	5.23

February 28, 2025 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $9,588,370K ÷ $—K
= —

Concentrix Corporation's fixed asset turnover ratio has shown a generally increasing trend from November 30, 2021 to August 31, 2023, peaking at 16.41 on May 31, 2023. This indicates that the company has been generating more revenue relative to its investment in fixed assets during this period.

However, there was a notable decline in the fixed asset turnover ratio to 9.50 on November 30, 2023, followed by a slight recovery to 10.79 on February 29, 2024. The ratio continued to improve in the subsequent quarters, reaching 14.08 on February 28, 2025.

The sudden decrease in the fixed asset turnover ratio in November 30, 2023 may suggest that Concentrix Corporation's efficiency in utilizing its fixed assets to generate sales declined during that period. It is important for the company to monitor and assess the reasons behind this drop to ensure optimal efficiency in its asset utilization going forward.