Concentrix Corporation (CNXC)
Total 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 | |||
| Total assets | US$ in thousands | 12,242,900 | 12,491,800 | 8,449,540 | 6,560,000 | 6,623,070 | 6,669,770 | 6,749,870 | 6,612,650 | 6,716,790 | 5,046,370 | 5,009,440 | 5,102,240 | 5,120,850 |
| Total asset turnover | 0.64 | 0.57 | 0.77 | 0.99 | 0.97 | 0.95 | 0.91 | 0.90 | 0.86 | 1.11 |
February 29, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $7,881,050K ÷ $12,242,900K
= 0.64
Concentrix Corporation's total asset turnover ratio indicates how efficiently the company is utilizing its assets to generate revenue. The trend in total asset turnover over the past year shows fluctuations, ranging from 0.57 to 1.11.
A low total asset turnover ratio, such as 0.57 observed in November 2023, suggests that the company is not generating enough revenue relative to its asset base. This could indicate inefficiencies in asset utilization or operational challenges.
On the other hand, a high total asset turnover ratio, such as 1.11 in November 2021, implies that the company is generating significant revenue relative to its asset investment. This could signal effective management of assets and strong revenue generation capabilities.
Overall, the variability in Concentrix Corporation's total asset turnover ratio highlights fluctuations in the company's efficiency in generating revenue from its assets over the past year. It is important for the company to closely monitor and analyze this ratio to ensure optimal asset utilization and sustained financial performance.
Peer comparison
Feb 29, 2024