Concentrix Corporation (CNXC)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	5,034,110	4,939,710	3,973,470	2,130,960	2,220,210	2,224,290	2,401,100	2,197,880	2,266,650	802,017	865,837	959,158	1,113,220
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
Debt-to-assets ratio		0.41	0.40	0.47	0.32	0.34	0.33	0.36	0.33	0.34	0.16	0.17	0.19	0.22

February 29, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $5,034,110K ÷ $12,242,900K
= 0.41

The debt-to-assets ratio of Concentrix Corporation has fluctuated over the past several quarters, ranging from a low of 0.16 to a high of 0.47. The ratio indicates the proportion of the company's assets that are financed by debt, with a higher ratio suggesting a greater reliance on debt financing.

On Feb 29, 2024, the debt-to-assets ratio was 0.41, representing a moderate level of debt relative to assets. The ratio decreased slightly from the previous quarter, where it stood at 0.40 on Nov 30, 2023.

Looking further back, there has been some variability in the ratio, with peaks observed in Aug 31, 2023, and Feb 28, 2023, at 0.47 and 0.34, respectively. In contrast, the lowest levels were recorded on Nov 30, 2021, and Aug 31, 2021, at 0.16 and 0.17, respectively.

Overall, Concentrix Corporation's debt-to-assets ratio has shown fluctuations but has generally remained within a reasonable range, indicating a balanced mix of debt and equity in its capital structure. It's essential for the company to monitor this ratio to ensure it maintains a healthy level of leverage and financial stability.