Concentrix Corporation (CNXC)

Working capital turnover

		Feb 28, 2025	Nov 30, 2024	Aug 31, 2024	May 31, 2024	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	Nov 30, 2020	Aug 31, 2020	May 31, 2020
Revenue (ttm)	US$ in thousands	9,588,370	9,618,900	9,401,640	8,647,060	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	5,421,270	5,187,710	4,884,190	4,719,530	4,631,510	4,628,750
Total current assets	US$ in thousands	2,960,600	2,842,420	2,850,240	2,716,180	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	1,423,380	1,366,180	1,220,600
Total current liabilities	US$ in thousands	1,792,180	1,995,810	1,812,000	1,766,320	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	1,008,660	2,666,120	2,624,750
Working capital turnover		8.21	11.36	9.06	9.10	7.89	9.07	2.46	8.69	8.52	10.16	8.92	9.85	9.70	9.72	9.48	8.83	9.22	11.38	—	—

February 28, 2025 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $9,588,370K ÷ ($2,960,600K – $1,792,180K)
= 8.21

Concentrix Corporation's working capital turnover has fluctuated over the past few years, ranging from a high of 10.16 in November 2022 to a low of 2.46 in August 2023. This ratio measures how efficiently the company is utilizing its working capital to generate sales. A higher turnover ratio indicates that the company is effectively managing its working capital to support its operations.

In general, Concentrix Corporation has maintained a relatively high working capital turnover, with values consistently above 7. This suggests that the company is efficiently using its current assets and liabilities to generate revenue. However, there was a significant drop in the ratio to 2.46 in August 2023, which could indicate potential challenges in managing working capital effectively during that period.

It is important for Concentrix Corporation to closely monitor its working capital turnover ratio to ensure that it remains at a healthy level. By efficiently managing its working capital, the company can improve its liquidity position and overall financial performance.