Synnex Corporation (SNX)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	1,127,721	1,159,311	1,114,091	1,126,595	1,050,873	902,076	808,746	703,910	623,218	638,232	622,401	562,644	521,341	294,918	371,400	457,911	519,429	746,368	651,356	600,703
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
Operating ROA		4.06%	3.94%	3.91%	3.85%	3.53%	3.10%	2.88%	2.45%	2.25%	6.07%	7.63%	2.03%	3.87%	2.22%	2.94%	3.90%	4.44%	6.53%	5.78%	5.58%

February 29, 2024 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $1,127,721K ÷ $27,800,000K
= 4.06%

The operating return on assets (operating ROA) of Synnex Corporation has shown fluctuations over the past few quarters. The trend indicates that the company's ability to generate operating profits from its assets has varied.

In the most recent quarter, the operating ROA was 4.06%, which is higher compared to the previous quarters, reflecting an improvement in the company's operational efficiency and profitability. This could be an indication of effective asset utilization and cost management.

Looking back further, the operating ROA had been relatively stable between 3% and 4% for several quarters, suggesting consistent performance in generating operating income in relation to its assets.

However, there were some periods, such as in May 2021 and November 2021, where the operating ROA spiked significantly to 7.63% and 6.07%, respectively. These spikes may indicate exceptional performance in those quarters, potentially due to unique business circumstances or one-time events.

Conversely, there were also periods, such as in August 2022 and February 2022, where the operating ROA dipped below 3%, signaling potential challenges in generating operating income relative to the company's asset base during those times.

Overall, Synnex Corporation's operating ROA performance seems to have experienced some fluctuations, but the recent improvement suggests a positive trend in the company's operational efficiency and profitability. Further analysis of the underlying factors driving these fluctuations would provide more insights into the company's financial performance.