Synnex Corporation (SNX)

Fixed asset turnover

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Revenue	US$ in thousands	58,452,400	57,555,400	62,343,800	31,614,200	19,977,200
Property, plant and equipment	US$ in thousands	457,024	450,024	421,064	483,443	157,645
Fixed asset turnover		127.90	127.89	148.06	65.39	126.72

November 30, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $58,452,400K ÷ $457,024K
= 127.90

The fixed asset turnover ratio for Synnex Corporation has exhibited fluctuations over the period from November 30, 2020, to November 30, 2024.

- In November 2020, the fixed asset turnover ratio stood at a remarkably high level of 126.72, indicating that the company generated $126.72 in revenue for every $1 invested in fixed assets.
- By November 2021, the ratio decreased to 65.39, suggesting that the efficiency of utilizing fixed assets to generate revenue declined significantly.
- However, in the subsequent year, by November 2022, the fixed asset turnover ratio rebounded to 148.06, surpassing the initial high level observed in 2020. This sharp increase indicates a substantial improvement in the company's ability to generate revenue from its fixed assets.
- The ratio then slightly decreased to 127.89 in November 2023 and remained stable at 127.90 in November 2024, reflecting a consistent performance in utilizing fixed assets to drive revenue.

Overall, the trend in the fixed asset turnover ratio for Synnex Corporation displays variability with periods of both decline and growth. The company showcased a remarkable improvement in efficiency in 2022, maintaining relatively strong utilization of fixed assets in subsequent years.