Synnex Corporation (SNX)

Inventory 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
Cost of revenue (ttm)	US$ in thousands	54,471,200	53,056,300	52,321,900	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
Inventory	US$ in thousands	8,287,050	7,674,440	7,098,250	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
Inventory turnover		6.57	6.91	7.37	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

November 30, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $54,471,200K ÷ $8,287,050K
= 6.57

Synnex Corporation's inventory turnover ratio has fluctuated over the years based on the provided data.

From November 30, 2019, to August 31, 2020, the inventory turnover steadily increased from 7.03 to 10.32, indicating that Synnex was managing its inventory more effectively and selling its products at a faster rate during this period.

However, from November 30, 2020, to August 31, 2021, there was a slight decline in the inventory turnover ratio, suggesting that Synnex may have experienced challenges in managing its inventory or faced slower sales during this period.

The ratio then decreased notably from November 30, 2021, to February 28, 2022, before gradually increasing again from May 31, 2022, to November 30, 2023. This fluctuation could indicate changes in Synnex's inventory management or sales strategies during this time.

Overall, the inventory turnover ratio for Synnex Corporation has shown some variability, but it appears to have stabilized around the range of 6 to 8 in recent periods. Further analysis of the company's inventory management practices and market conditions could provide additional insights into the trends observed in the inventory turnover ratio.