Concentrix Corporation (CNXC)
Payables turnover
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | ||
|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 4,536,770 | 4,067,210 | 3,617,530 |
| Payables | US$ in thousands | 243,565 | 161,190 | 129,359 |
| Payables turnover | 18.63 | 25.23 | 27.97 |
November 30, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $4,536,770K ÷ $243,565K
= 18.63
The payables turnover ratio measures the efficiency of a company in managing its trade payables. Concentrix Corp.'s payables turnover has fluctuated over the past five years, with a downward trend from 2017 to 2020 followed by a slight increase in 2021. This indicates a longer period to pay off its suppliers in 2020, but an improvement in 2021. The payables turnover was 18.63 in 2023, showing a decline from the previous year. This could suggest that Concentrix Corp. took longer to pay off its suppliers in 2023 compared to 2022, which may be a concern for the company's relationship with its suppliers and liquidity management. It's essential for the company to carefully manage its payables turnover to ensure healthy relationships with suppliers and efficient use of working capital.
Peer comparison
Nov 30, 2023