Synnex Corporation (SNX)

Inventory turnover

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Cost of revenue	US$ in thousands	54,471,100	53,598,600	58,443,600	29,724,600	18,783,300
Inventory	US$ in thousands	8,287,050	7,146,270	9,066,620	6,642,920	2,684,080
Inventory turnover		6.57	7.50	6.45	4.47	7.00

November 30, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $54,471,100K ÷ $8,287,050K
= 6.57

The inventory turnover for Synnex Corporation has shown some fluctuations over the years. In November 2020, the inventory turnover was 7.00 times, indicating that the company was able to sell and replace its inventory 7 times during that year. This ratio decreased to 4.47 in November 2021, suggesting that the company's inventory turnover slowed down significantly.

However, Synnex Corporation managed to improve its inventory turnover in the following years. By November 2023, the inventory turnover had increased to 7.50, indicating that the company was more efficient in managing its inventory and converting it into sales. In November 2024, the inventory turnover slightly decreased to 6.57, but it remained at a relatively healthy level.

Overall, fluctuations in inventory turnover can be influenced by various factors, such as changes in sales volume, inventory management practices, and market conditions. Synnex Corporation's ability to maintain inventory turnover at reasonable levels is crucial for optimizing working capital and profitability.