Synnex Corporation (SNX)

Total asset turnover

		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
Revenue (ttm)	US$ in thousands	57,468,600	59,741,300	60,690,100	61,999,300	62,343,900	61,707,200	51,558,160	42,145,180	31,614,190	22,121,730	22,221,030	20,835,140	19,977,150	20,391,740	21,244,640	22,452,530	23,576,000	22,664,770	21,412,120	20,685,810
Total assets	US$ in thousands	27,800,000	29,412,800	28,504,600	29,235,200	29,734,000	29,092,100	28,057,800	28,722,700	27,666,400	10,507,000	8,159,900	27,666,400	13,468,600	13,263,100	12,639,200	11,727,100	11,698,000	11,426,300	11,276,000	10,761,300
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

February 29, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $57,468,600K ÷ $27,800,000K
= 2.07

The total asset turnover of Synnex Corporation has shown fluctuating trends over the past years, ranging from a low of 0.75 to a high of 2.72. The metric indicates the company's ability to generate sales relative to its total assets. A ratio greater than 1 suggests that the company is generating more revenue per dollar of assets, which can be seen in most periods analyzed.

The years with higher total asset turnover ratios, such as May 2021 and May 2022, suggest that Synnex has been efficient in utilizing its assets to generate sales. However, there have been periods, such as February 2020 and August 2021, where the total asset turnover was lower, indicating a lower efficiency in utilizing assets to drive sales.

Overall, the total asset turnover of Synnex Corporation has generally been above 1, indicating efficient asset utilization in generating revenues, with some fluctuations observed over the years. It would be important to further explore the underlying reasons for these variations to understand the company's operational efficiency and asset management strategies.