Synnex Corporation (SNX)

Fixed asset turnover

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019
Revenue	US$ in thousands	57,555,400	62,343,800	31,614,200	19,977,200	19,070,000
Property, plant and equipment	US$ in thousands	450,024	421,064	483,443	157,645	569,899
Fixed asset turnover		127.89	148.06	65.39	126.72	33.46

November 30, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $57,555,400K ÷ $450,024K
= 127.89

The fixed asset turnover ratio for TD Synnex Corp has experienced fluctuations over the past five years. The ratio was 127.89 in November 2023, indicating that the company generated $127.89 in revenue for every dollar invested in fixed assets. This represents a significant increase from the previous year, when the ratio was 148.06. The substantial fluctuation in the ratio suggests that the company's efficiency in utilizing its fixed assets to generate sales has varied considerably. The ratios for 2021, 2020, and 2019 were 65.39, 40.50, and 41.69 respectively, showing a notable increase in 2022 followed by a sharp decline. These fluctuations may indicate changes in the company's operational efficiency and productivity in utilizing fixed assets to generate sales over the years.