Synnex Corporation (SNX)

Return on total capital

		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
Earnings before interest and tax (EBIT) (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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
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
Return on total capital		13.92%	14.17%	13.31%	13.83%	13.09%	11.61%	10.13%	8.77%	7.88%	27.29%	27.59%	26.42%	12.02%	7.20%	9.69%	11.88%	13.71%	20.72%	18.42%	17.11%

February 29, 2024 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,127,721K ÷ ($—K + $8,102,180K)
= 13.92%

Synnex Corporation's return on total capital has shown consistency and stability over the past 20 periods. The return on total capital has ranged from a low of 7.20% in May 2020 to a high of 27.59% in August 2021, indicating fluctuations in the company's efficiency in generating returns from its total capital employed.

The return on total capital has generally trended upwards over the periods, with occasional fluctuations. The latest return on total capital of 13.92% as of February 29, 2024, is slightly lower than the previous period's 14.17%, but remains at a healthy level.

Overall, Synnex Corporation's return on total capital demonstrates the company's ability to efficiently utilize its total capital to generate returns for its shareholders, although there have been some fluctuations in performance over time. It is important for the company to continue monitoring and improving this ratio to ensure sustainable and profitable growth.