Concentrix Corporation (CNXC)
Receivables turnover
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | ||
|---|---|---|---|---|
| Revenue | US$ in thousands | 7,114,710 | 6,324,470 | 5,587,020 |
| Receivables | US$ in thousands | 1,888,890 | 1,390,470 | 1,207,950 |
| Receivables turnover | 3.77 | 4.55 | 4.63 |
November 30, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $7,114,710K ÷ $1,888,890K
= 3.77
The receivables turnover of Concentrix Corp. has been trending downward over the past five years. In 2023, the receivables turnover was 3.77 which is lower than the previous year's 4.55. This indicates that the company has become less efficient in collecting its accounts receivable compared to the prior year. It's also important to note that the 2023 receivables turnover is significantly lower than the 5-year high of 4.63 in 2021. This downward trend may suggest that Concentrix Corp. is taking longer to collect payments from its customers, which could potentially impact its cash flow and overall financial health. Further investigation into the company's credit and collection policies and customer payment behavior may be warranted to understand the reasons behind this declining trend in receivables turnover.
Peer comparison
Nov 30, 2023