Synnex Corporation (SNX)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	665,952	715,055	676,348	686,003	651,307	549,517	495,387	439,572	395,070	490,781	530,540	494,398	529,160	490,009	478,677	536,190	500,712	439,913	383,721	362,990
Total stockholders’ equity	US$ in thousands	8,102,180	8,183,180	8,367,750	8,148,590	8,025,510	7,771,650	7,981,660	8,021,860	7,905,980	2,338,290	2,255,670	2,129,300	4,338,860	4,093,580	3,834,380	3,855,690	3,788,450	3,601,810	3,537,050	3,510,440
ROE		8.22%	8.74%	8.08%	8.42%	8.12%	7.07%	6.21%	5.48%	5.00%	20.99%	23.52%	23.22%	12.20%	11.97%	12.48%	13.91%	13.22%	12.21%	10.85%	10.34%

February 29, 2024 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $665,952K ÷ $8,102,180K
= 8.22%

The return on equity (ROE) of Synnex Corporation has shown fluctuations over the past two years, with values ranging from 5.00% to 23.52%. In the most recent period ending on February 29, 2024, the ROE stood at 8.22%, which is slightly lower than the previous quarter's ROE of 8.74%. This indicates that the company's profitability in generating returns for its shareholders may have slightly declined in the latest period.

Looking back over the past eight quarters, the ROE has generally been within the single-digit range, with occasional spikes above 10%, such as in the fourth quarter of 2021 and the first quarter of 2022 when the ROE exceeded 20%. These higher ROE values suggest that the company was more efficient in utilizing shareholder equity to generate profits during those periods.

However, it is important to note that the ROE has been on a downward trend since its peak in the first quarter of 2022. The declining trend could indicate potential challenges in maintaining or improving profitability relative to shareholder equity. It would be essential for investors and stakeholders to closely monitor Synnex Corporation's financial performance and management strategies to assess the sustainability of its ROE levels and overall profitability.