Synnex Corporation (SNX)

Inventory turnover

		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	Aug 31, 2019	May 31, 2019	Feb 28, 2019
Cost of revenue (ttm)	US$ in thousands	53,469,300	55,688,000	56,739,400	58,064,100	58,443,600	57,923,500	48,377,840	39,591,490	29,724,640	20,808,720	20,923,160	19,591,820	18,783,290	29,227,810	24,788,493	21,168,860	17,912,755	6,684,145	10,591,072	14,889,315
Inventory	US$ in thousands	7,091,150	7,146,270	7,462,160	8,372,830	9,066,620	9,755,230	8,434,000	7,883,260	6,642,920	2,866,210	2,684,680	2,556,720	2,684,080	2,832,610	3,033,320	2,710,250	2,547,220	2,787,160	2,608,450	2,430,390
Inventory turnover		7.54	7.79	7.60	6.93	6.45	5.94	5.74	5.02	4.47	7.26	7.79	7.66	7.00	10.32	8.17	7.81	7.03	2.40	4.06	6.13

February 29, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $53,469,300K ÷ $7,091,150K
= 7.54

The inventory turnover ratio for Synnex Corporation has shown fluctuations over the past two years, ranging from 2.40 to 10.32. Generally, a higher inventory turnover ratio indicates that the company is selling its inventory more efficiently.

From 2019 to 2020, there was a significant increase in the inventory turnover ratio, reaching a peak of 10.32 in May 2020. This implies that Synnex was able to sell its inventory more quickly during that period.

Subsequently, the inventory turnover ratio decreased in 2021 and 2022, showing a fluctuating trend. The ratio ranged between 4.47 and 7.79 during this period, indicating some variability in the efficiency of inventory management.

In the most recent data available, the inventory turnover ratio stood at 7.54 as of February 2024. This suggests that Synnex has been able to maintain a relatively high level of inventory turnover, which may be attributed to effective sales strategies or improved inventory management practices.

Overall, while the inventory turnover ratio has shown fluctuations over the analyzed period, Synnex Corporation has demonstrated a generally efficient turnover of inventory in recent years.