Synnex Corporation (SNX)

Total asset turnover

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Revenue	US$ in thousands	58,452,400	57,555,400	62,343,800	31,614,200	19,977,200
Total assets	US$ in thousands	30,274,500	29,412,800	29,734,000	27,666,400	13,468,600
Total asset turnover		1.93	1.96	2.10	1.14	1.48

November 30, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $58,452,400K ÷ $30,274,500K
= 1.93

The total asset turnover ratio measures a company's efficiency in generating sales revenue from its total assets. A higher total asset turnover ratio indicates that the company is able to generate more sales from its assets, reflecting efficient asset utilization.

Synnex Corporation's total asset turnover ratio has shown fluctuations over the years:

1. In November 2020, the total asset turnover ratio was 1.48, indicating that the company generated $1.48 in sales for every $1 of total assets.

2. By November 2021, the total asset turnover ratio decreased to 1.14, suggesting a decrease in the company's ability to generate sales from its assets compared to the previous year.

3. However, in November 2022, there was a significant improvement in the total asset turnover ratio to 2.10, indicating a substantial increase in sales generated from assets.

4. In November 2023 and November 2024, the total asset turnover ratios were 1.96 and 1.93, respectively, still reflecting relatively efficient asset utilization despite being slightly lower than the peak in 2022.

Overall, Synnex Corporation's total asset turnover has exhibited variations over the years, with a notable improvement in 2022 followed by relatively stable performance in the subsequent years. It is essential for the company to continue monitoring and managing its asset turnover ratio to ensure optimal utilization of assets in generating sales revenue.