Synnex Corporation (SNX)
Activity ratios
Short-term
Turnover ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Receivables turnover | 6.46 | 5.80 | 6.83 | 6.63 | 6.62 | 7.61 | 6.57 | 4.83 | 3.80 | 9.92 | 9.06 | 8.75 | 5.16 | 5.69 | 6.61 | 6.82 | 6.00 | 6.56 | 6.19 | 6.53 |
| Payables turnover | 4.32 | 4.17 | 4.54 | 4.47 | 4.18 | 4.22 | 3.86 | 3.25 | 2.47 | 6.46 | 5.97 | 6.29 | 5.01 | 8.00 | 7.28 | 8.17 | 5.69 | 2.28 | 3.83 | 6.81 |
| Working capital turnover | 17.28 | 17.86 | 16.69 | 14.85 | 15.31 | 15.62 | 13.30 | 11.26 | 9.03 | 3.95 | 7.48 | 7.35 | 6.36 | 6.95 | 7.76 | 8.25 | 8.28 | 8.64 | 8.38 | 8.12 |
The inventory turnover ratio for Synnex Corporation has shown a consistent trend of improvement over the past few quarters, indicating that the company is efficiently managing its inventory levels and turning over its inventory faster. This is a positive sign as it suggests effective inventory management practices.
The receivables turnover ratio has been fluctuating but generally remains within a reasonable range. A higher receivables turnover ratio indicates that the company is collecting its accounts receivable more quickly, which is favorable for cash flow management. However, the fluctuations in this ratio warrant further investigation to ensure effective credit management and collection practices.
The payables turnover ratio has also shown some variation but generally remains stable. A higher payables turnover ratio suggests that the company is paying its suppliers more quickly, potentially taking advantage of early payment discounts. However, a very high ratio may also indicate potential liquidity issues, so it is important to monitor this ratio closely.
The working capital turnover ratio has depicted a varying trend over the periods analyzed. A higher working capital turnover ratio indicates that the company is efficiently utilizing its working capital to generate sales. However, a declining trend in this ratio could signal inefficiencies in working capital management, so it is crucial to assess the company's working capital policies and practices.
Overall, while Synnex Corporation's activity ratios show both strengths and areas for further scrutiny, it is essential for the company to continue monitoring and optimizing these ratios to ensure operational efficiency and financial health.
Average number of days
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 48.41 | 46.84 | 48.00 | 52.63 | 56.62 | 61.47 | 63.63 | 72.68 | 81.57 | 50.28 | 46.83 | 47.63 | 52.16 | 35.37 | 44.66 | 46.73 | 51.90 | 152.20 | 89.89 | 59.58 |
| Days of sales outstanding (DSO) | days | 56.54 | 62.92 | 53.48 | 55.09 | 55.16 | 47.99 | 55.58 | 75.62 | 95.94 | 36.79 | 40.27 | 41.71 | 70.72 | 64.10 | 55.24 | 53.55 | 60.79 | 55.61 | 58.93 | 55.89 |
| Number of days of payables | days | 84.46 | 87.48 | 80.32 | 81.71 | 87.37 | 86.45 | 94.47 | 112.41 | 147.78 | 56.52 | 61.11 | 58.05 | 72.89 | 45.65 | 50.14 | 44.66 | 64.17 | 160.11 | 95.29 | 53.63 |
Days of inventory on hand (DOH) for Synnex Corporation has ranged from a low of 35.37 days to a high of 152.20 days over the past few years. The trend appears to be fluctuating, with some periods showing a decreasing trend in inventory holding period and other periods showing an increasing trend.
Days of sales outstanding (DSO) has varied between 36.79 days and 95.94 days, indicating that the company takes anywhere from around one to three months to collect its accounts receivable. The DSO has shown some fluctuations over the periods analyzed.
The number of days of payables has fluctuated between 44.66 days and 160.11 days, illustrating the time it takes for the company to pay its suppliers. There is variability in this ratio over time, with periods of longer and shorter payment cycles.
Overall, the analysis of Synnex Corporation's activity ratios suggests that the company's management of inventory, accounts receivable, and accounts payable has been variable over the periods examined, potentially impacting the company's liquidity and operational efficiency.
Long-term
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 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 | 40.99 | 37.95 | 36.38 |
| Total asset turnover | 2.07 | 2.03 | 2.13 | 2.12 | 2.10 | 2.12 | 1.84 | 1.47 | 1.14 | 2.11 | 2.72 | 0.75 | 1.48 | 1.54 | 1.68 | 1.91 | 2.02 | 1.98 | 1.90 | 1.92 |
The fixed asset turnover ratio of Synnex Corporation has shown fluctuating trends over the past years, ranging from a high of 149.66 in August 2022 to a low of 34.92 in August 2020. This ratio measures how efficiently the company is utilizing its fixed assets to generate sales revenue. A higher fixed asset turnover indicates better efficiency in generating sales from fixed assets.
On the other hand, the total asset turnover ratio has also varied over the years, with a peak of 2.72 in August 2021 and a trough of 0.75 in February 2021. This ratio reflects the company's overall efficiency in generating sales from all its assets, including both fixed and current assets. A higher total asset turnover ratio suggests that the company is effectively using its total assets to generate revenue.
Overall, the fixed asset turnover ratio has generally been higher and more stable compared to the total asset turnover ratio. This indicates that Synnex Corporation has been more efficient in generating sales from its fixed assets specifically, while the efficiency in generating sales from all assets combined has shown more volatility. This analysis suggests that the company may need to focus on improving its overall asset utilization to boost revenue generation in the long term.