Synnex Corporation (SNX)

Fixed asset turnover

		Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 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	Feb 29, 2020	Nov 30, 2019
Revenue (ttm)	US$ in thousands	58,452,500	57,015,200	56,291,100	57,468,600	59,741,300	60,690,100	61,999,300	62,343,900	61,707,200	51,558,160	42,145,180	31,614,190	22,121,730	22,221,030	20,835,140	19,977,150	20,391,740	21,244,640	22,452,530	23,576,000
Property, plant and equipment	US$ in thousands	457,024	477,419	462,948	459,093	450,024	437,017	429,882	421,064	412,305	418,083	429,765	483,443	152,293	154,741	155,869	157,645	583,951	563,346	575,772	569,899
Fixed asset turnover		127.90	119.42	121.59	125.18	132.75	138.87	144.22	148.06	149.66	123.32	98.07	65.39	145.26	143.60	133.67	126.72	34.92	37.71	39.00	41.37

November 30, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $58,452,500K ÷ $457,024K
= 127.90

Synnex Corporation's fixed asset turnover has shown varying trends over the past few years. The ratio was exceptionally high at 145.26 as of August 31, 2021, indicating that the company generated $145.26 in revenue for every dollar invested in fixed assets during that period. However, the ratio decreased significantly to 65.39 by November 30, 2021, before rising again to 149.66 by August 31, 2022.

Subsequently, the fixed asset turnover ratio fluctuated between 138.87 and 127.90 from November 30, 2022, to November 30, 2024, indicating some inconsistency in the company's ability to generate revenue from its fixed assets during those periods. Overall, the fluctuations in the fixed asset turnover ratio suggest that Synnex Corporation may have experienced changes in its operational efficiency and asset utilization over the years, which could be influenced by various factors such as changes in production capacity, asset management practices, or business strategies.