Synnex Corporation (SNX)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 |
Synnex Corporation's solvency ratios indicate a consistent trend of low debt levels in relation to its assets, capital, and equity. The debt-to-assets ratio, debt-to-capital ratio, and debt-to-equity ratio have all been consistently at 0.00, suggesting that the company relies very minimally on debt to finance its operations.
However, the financial leverage ratio has shown variability over the periods, ranging from 3.04 to 12.99. This ratio peaked in Feb 2021, indicating a sudden increase in financial leverage, which could be a cause for concern as it suggests the company's reliance on debt significantly increased during that period.
Overall, Synnex Corporation's solvency ratios demonstrate a generally healthy financial position with low debt levels, except for the anomaly in the financial leverage ratio in Feb 2021 that may warrant further investigation.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 7.15 | 7.16 | 3.98 | 4.33 | 4.72 | 3.95 | 3.97 | 3.92 | 3.86 | 6.18 | 5.83 | 4.71 | 3.92 | 2.02 | 2.33 | 2.74 | 3.01 | 4.24 | 4.26 | 4.66 |
Synnex Corporation's interest coverage ratio has varied over the past few quarters, as evidenced by the data provided. The company's interest coverage ratio stood at 7.15 as of February 29, 2024, indicating that the company generated enough operating income to cover its interest expenses approximately 7 times over.
Looking further back, we can see fluctuations in the interest coverage ratio, with the ratio ranging from a low of 2.02 on August 31, 2020, to a high of 7.16 on November 30, 2023. Generally, a higher interest coverage ratio suggests that the company is in a better position to meet interest payments on its debt obligations.
It is worth noting that the interest coverage ratio has generally been above 3, indicating that Synnex Corporation has been able to comfortably cover its interest expenses with its operating income. However, there was a slight dip in the ratio to 2.02 on August 31, 2020, which may warrant further investigation to understand the reasons behind this decrease.
Overall, based on the trend in the interest coverage ratio for Synnex Corporation, the company appears to have maintained a relatively healthy ability to meet its interest obligations over the periods analyzed.