Concentrix Corporation (CNXC)

Payables 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
Cost of revenue (ttm)	US$ in thousands	5,027,740	4,536,760	4,176,210	4,149,820	4,124,520	4,067,198	3,967,088	3,870,248	3,748,217	3,617,527
Payables	US$ in thousands	202,362	243,565	137,524	148,679	141,666	161,190	114,128	110,931	118,974	129,359	78,618	109,506	101,215
Payables turnover		24.85	18.63	30.37	27.91	29.11	25.23	34.76	34.89	31.50	27.97

February 29, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $5,027,740K ÷ $202,362K
= 24.85

Concentrix Corporation's payables turnover ratio has shown some fluctuations over the past several quarters. The payables turnover ratio indicates how efficiently the company is managing its accounts payable.

In the most recent period ending February 29, 2024, the payables turnover ratio was 24.85. This indicates that, on average, Concentrix is able to turnover its accounts payable approximately 24.85 times during the year.

Looking at the trend over the last few quarters, we see that the payables turnover ratio has been relatively high and somewhat volatile. It reached its peak at 34.89 in August 31, 2022, and its lowest point at 18.63 in November 30, 2023.

The fluctuations in the payables turnover ratio may indicate changes in Concentrix's payment policies, supplier relationships, or inventory management practices. A higher payables turnover ratio generally suggests that the company is efficiently managing its payables, while a lower ratio may indicate that the company is taking longer to pay its suppliers.

Overall, Concentrix Corporation's payables turnover ratio has shown variability over the analyzed periods, and further analysis of the company's financial and operational activities may provide additional insights into the factors influencing these fluctuations.