Concentrix Corporation (CNXC)

Working capital 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 current assets	US$ in thousands	2,781,920	2,858,650	3,701,960	1,752,060	1,748,140	1,754,330	1,717,400	1,628,980	1,630,840	1,543,060	1,460,830	1,476,870	1,407,300
Total current liabilities	US$ in thousands	1,782,770	2,074,040	1,045,570	1,007,480	993,966	1,132,120	1,028,210	1,023,020	1,036,280	968,214	888,792	889,613	877,576
Working capital turnover		7.89	9.07	2.46	8.69	8.52	10.16	8.92	9.85	9.70	9.72

February 29, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $7,881,050K ÷ ($2,781,920K – $1,782,770K)
= 7.89

Concentrix Corporation's working capital turnover has varied over the past several reporting periods. The working capital turnover ratio indicates how efficiently a company is using its working capital to generate sales revenue.

The working capital turnover ratio for Concentrix Corporation ranged from 2.46 to 10.16 over the past year, with an average of approximately 8.51. A higher ratio typically indicates that the company is efficiently using its working capital to generate sales.

In the latest available period, the working capital turnover was 7.89, which suggests that Concentrix Corporation generated approximately $7.89 in revenue for every dollar of working capital invested. This indicates a moderate level of efficiency in utilizing its working capital.

Overall, the trend in Concentrix Corporation's working capital turnover shows fluctuations, but the company generally maintains a relatively high efficiency in utilizing its working capital to generate sales revenue, which is a positive indicator of its operational efficiency.