Synnex Corporation (SNX)

Financial leverage ratio

		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
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
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
Financial leverage ratio		3.43	3.59	3.41	3.59	3.70	3.74	3.52	3.58	3.50	4.49	3.62	12.99	3.10	3.24	3.30	3.04	3.09	3.17	3.19	3.07

February 29, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $27,800,000K ÷ $8,102,180K
= 3.43

The financial leverage ratio of Synnex Corporation has shown fluctuations over the past few periods. The ratio decreased from 3.07 in February 2019 to a low of 3.04 in May 2020, indicating a lower level of financial leverage during this period. However, the ratio then increased to 12.99 in February 2021, which suggests a significant increase in financial leverage, possibly due to a substantial increase in debt relative to equity.

Subsequently, there was a sharp decrease in the financial leverage ratio to 3.62 in May 2021, implying a reduction in the level of financial leverage. The ratio continued to fluctuate over the following periods, with values ranging from 3.41 to 3.74, indicating some variability in the company's capital structure and the use of debt financing.

Overall, Synnex Corporation's financial leverage ratio has displayed some volatility, and investors and analysts may need to closely monitor changes in the ratio to assess the company's risk and financial stability in the future.