Concentrix Corporation (CNXC)

Fixed asset turnover

		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
Revenue (ttm)	US$ in thousands	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
Property, plant and equipment	US$ in thousands	730,242	748,691	406,297	394,464	399,132	403,829	390,343	401,716	416,874	407,144	397,841	399,422	445,286
Fixed asset turnover		10.79	9.50	16.06	16.41	16.10	15.66	15.76	14.86	13.84	13.72

February 29, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $7,881,050K ÷ $730,242K
= 10.79

Concentrix Corporation's fixed asset turnover has demonstrated fluctuating trends over the past few fiscal periods. The fixed asset turnover ratio measures the efficiency of the company in generating sales from its investment in fixed assets. A higher ratio indicates that the company is effectively utilizing its fixed assets to generate revenue.

From the data provided, it is observed that Concentrix Corporation's fixed asset turnover ranged from a low of 9.50 to a high of 16.41 over the last 13 quarters. The highest ratio of 16.41 was recorded in May 31, 2023, indicating that the company generated $16.41 in sales for every dollar invested in fixed assets during that period.

Although the fixed asset turnover ratio has shown some variability, generally, Concentrix Corporation has maintained relatively high levels of efficiency in utilizing its fixed assets to generate revenue. It is crucial for the company to continue monitoring and managing its fixed asset turnover to ensure continued operational efficiency and profitability.