Concentrix Corporation (CNXC)

Total asset turnover

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021
Revenue	US$ in thousands	7,114,710	6,324,470	5,587,020
Total assets	US$ in thousands	12,491,800	6,669,770	5,046,370
Total asset turnover		0.57	0.95	1.11

November 30, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $7,114,710K ÷ $12,491,800K
= 0.57

The total asset turnover of Concentrix Corp. has shown a declining trend over the past five years. In 2023, the total asset turnover ratio was 0.57, down from 0.95 in 2022 and 1.11 in 2021. This indicates a decrease in the company's ability to generate sales from its total assets. The declining trend suggests that the company may be experiencing inefficiencies in asset utilization or a decrease in sales relative to its total assets. Further analysis of the company's asset management and sales performance is warranted to determine the underlying factors contributing to this trend.