Synnex Corporation (SNX)

Return on total capital

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019
Earnings before interest and tax (EBIT)	US$ in thousands	1,078,030	1,050,870	623,218	521,341	519,429
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	8,183,180	8,025,510	7,905,980	4,338,860	3,788,450
Return on total capital		13.17%	13.09%	7.88%	12.02%	13.71%

November 30, 2023 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $1,078,030K ÷ ($—K + $8,183,180K)
= 13.17%

The return on total capital for TD Synnex Corp has shown fluctuations over the past five years. In 2023, the return on total capital was 10.47%, slightly lower than the previous year's 10.50%. This indicates that the company's ability to generate earnings from its total capital employed remained relatively stable.

In 2021, the return on total capital decreased to 6.11%, reflecting a decline in the company's efficiency in utilizing its total capital to generate profits. However, in 2020 and 2019, the return on total capital stood at 11.68% and 11.96% respectively, indicating robust performance in those years.

Overall, the trend in TD Synnex Corp's return on total capital suggests some variability in the company's ability to efficiently generate returns from its total capital over the past five years. Further analysis of the underlying factors driving these fluctuations would be beneficial to understand the company's performance in depth.