Synnex Corporation (SNX)

Receivables turnover

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019
Revenue	US$ in thousands	57,555,400	62,343,800	31,614,200	19,977,200	19,070,000
Receivables	US$ in thousands	10,297,800	9,421,000	8,310,030	3,870,790	3,926,710
Receivables turnover		5.59	6.62	3.80	5.16	4.86

November 30, 2023 calculation

Receivables turnover = Revenue ÷ Receivables
= $57,555,400K ÷ $10,297,800K
= 5.59

The receivables turnover ratio measures the efficiency of a company's ability to collect cash from its customers. A higher receivables turnover indicates that the company is collecting its accounts receivable more frequently.

Looking at the trend of TD Synnex Corp's receivables turnover over the past five years, there has been some fluctuation. The ratio was 5.11 in 2023, down from 6.09 in 2022 but still higher than the 3.35 in 2021. This implies that in 2023, the company collected its receivables approximately 5.11 times during the year.

The decline from 2022 to 2023 could suggest that the company took longer to collect its receivables in 2023 compared to 2022, possibly indicating less efficient collections or changes in customer payment behaviors. However, it's important to consider the company's industry and specific circumstances before drawing definite conclusions.

In comparison to 2021 and 2019, the 2023 ratio still indicates a relatively efficient collection process. Generally, a stable or increasing trend in receivables turnover over time would signify an improvement in the company's receivables management, which can be a positive sign of financial health. However, further analysis of the company's credit policies, industry norms, and market conditions would provide a more comprehensive understanding of the trend.