Concentrix Corporation (CNXC)

Debt-to-equity ratio

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021
Long-term debt	US$ in thousands	4,939,710	2,224,290	802,017
Total stockholders’ equity	US$ in thousands	4,143,290	2,695,900	2,620,260
Debt-to-equity ratio		1.19	0.83	0.31

November 30, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $4,939,710K ÷ $4,143,290K
= 1.19

The debt-to-equity ratio of Concentrix Corp. has fluctuated significantly over the past five years. In 2019, the ratio stood at a relatively high 1.35, indicating a higher level of debt relative to equity. Subsequently, there was a substantial decrease in 2021 to 0.31, reflecting a significant reduction in the company's debt relative to its equity. However, in 2023, there has been an increase in the ratio to 1.19, which suggests a higher level of debt compared to equity, signifying a potential shift in the company's capital structure. This fluctuation in the debt-to-equity ratio may merit further investigation into the company’s financing decisions and their impact on its overall financial risk and stability.