Synnex Corporation (SNX)

Total asset turnover

		Nov 30, 2024	Aug 31, 2024	May 31, 2024	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
Revenue (ttm)	US$ in thousands	58,452,500	57,015,200	56,291,100	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
Total assets	US$ in thousands	30,274,500	29,207,500	27,715,800	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
Total asset turnover		1.93	1.95	2.03	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

November 30, 2024 calculation

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

Synnex Corporation's total asset turnover has exhibited fluctuations over the past few years, ranging from a low of 0.75 on February 28, 2021, to a high of 2.72 on May 31, 2021. A higher total asset turnover ratio indicates that the company is generating more revenue per dollar of assets, reflecting efficiency in asset utilization.

The trend shows an initial decrease from May 2020 to February 2021, suggesting a potential inefficiency in generating sales relative to its asset base during that period. However, there was a significant improvement in the ratio from May 2021 to August 2022, indicating a more effective utilization of assets to drive revenue growth.

Overall, the fluctuations in Synnex Corporation's total asset turnover ratio may be attributed to changes in the company's operational efficiency, industry conditions, or strategic decisions impacting asset utilization and revenue generation. Monitoring this ratio over time is crucial for assessing the company's ability to optimize its asset base and drive financial performance.