Synnex Corporation (SNX)

Total asset 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
Total assets	US$ in thousands	29,412,800	29,734,000	27,666,400	13,468,600	11,698,000
Total asset turnover		1.96	2.10	1.14	1.48	1.63

November 30, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $57,555,400K ÷ $29,412,800K
= 1.96

The total asset turnover of TD Synnex Corp has exhibited fluctuating trends over the past five years. In 2023, the total asset turnover was 1.96, representing a decrease from the prior year's ratio of 2.10. This decline suggests that the company generated $1.96 in revenue for every dollar of total assets, down from $2.10 in the previous year. Comparing this to 2021, where the total asset turnover was 1.14, the 2023 figure demonstrates a significant improvement in asset utilization efficiency. However, when contrasting it with 2020 and 2019, where the ratios were 1.83 and 2.03 respectively, the 2023 figure appears relatively lower, signaling a potential decrease in revenue generated relative to total assets. This indicates that the company's ability to efficiently utilize its assets to generate revenue experienced some variability over the analyzed period. Further investigation of the company's operational and financial strategies may provide valuable insights into the factors driving these fluctuations in total asset turnover.