Synnex Corporation (SNX)

Return on equity (ROE)

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019
Net income	US$ in thousands	626,911	651,307	395,069	529,160	500,712
Total stockholders’ equity	US$ in thousands	8,183,180	8,025,510	7,905,980	4,338,860	3,788,450
ROE		7.66%	8.12%	5.00%	12.20%	13.22%

November 30, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $626,911K ÷ $8,183,180K
= 7.66%

To analyze TD Synnex Corp's return on equity (ROE) over the past five years, we can observe that the ROE has fluctuated during this period. In Nov 30, 2019, the ROE was at its highest at 13.10%, indicating strong profitability in relation to shareholders' equity. Subsequently, there was a decrease in ROE to 12.06% in Nov 30, 2020, followed by a further decline to 5.00% in Nov 30, 2021, suggesting a deterioration in the company's ability to generate profits from the shareholders' equity.

However, there was a slight improvement in ROE to 8.12% in Nov 30, 2022, which may indicate some recovery in profitability. In the latest period, Nov 30, 2023, the ROE stands at 7.66%, reflecting a marginal decrease from the previous year.

Overall, the fluctuation in ROE suggests varying levels of efficiency in utilizing equity to generate profits. It would be insightful to further analyze the company's financial and operational performance to understand the factors contributing to these fluctuations and assess the sustainability of the ROE trend.