Concentrix Corp key statistics and ratios

In fiscal 2025, Concentrix Corp had return on equity of -37.7%, an operating margin of -9.3%, debt equal to 169.5% of equity and a current ratio of 1.40. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Concentrix Corp: financial ratios, annual
Fiscal year	2019Nov 2019	2020Nov 2020	2021Nov 2021	2022Nov 2022	2023Nov 2023	2024Nov 2024	2025Nov 2025	LTMAug 2026
Gross margin	37.1%	35.2%	35.3%	35.7%	36.2%	35.9%	35.0%	34.1%
Operating margin	6.3%	6.5%	10.2%	10.1%	9.3%	6.2%	−9.3%	−20.9%
Net margin	2.5%	3.5%	7.3%	6.9%	4.4%	2.6%	−13.0%	−24.0%
Free-cash-flow margin	7.2%	7.1%	6.5%	7.3%	7.0%	4.5%	5.8%	5.8%
Return on equity	8.0%	8.7%	16.5%	16.4%	9.2%	6.1%	−37.7%	−105.9%
Return on assets	—	3.2%	7.9%	7.4%	3.3%	2.1%	−11.2%	−23.9%
Asset turnover	—	0.91	1.09	1.08	0.74	0.79	0.86	1.00
Current ratio	—	1.41	1.59	1.55	1.38	1.42	1.40	1.23
Debt to equity	0.0%	51.2%	30.7%	82.8%	120.6%	118.0%	169.5%	247.4%
Effective tax rate	42.7%	38.5%	27.0%	28.0%	23.1%	16.1%	—	—
SG&A as % of revenue	30.9%	28.7%	25.0%	25.6%	26.9%	29.7%	28.8%	29.1%
Capital spending as % of revenue	2.4%	3.6%	2.7%	2.2%	2.5%	2.5%	2.4%	2.1%
Free cash flow ÷ net income	289.0%	204.0%	90.0%	105.9%	158.5%	170.7%	—	—
Dividends ÷ net income	0.0%	0.0%	3.2%	12.3%	20.2%	33.4%	—	—
Dividends and buybacks ÷ free cash flow	0.0%	0.0%	10.5%	37.8%	25.6%	51.3%	45.1%	33.3%

US$ thousands unless shown otherwise. Fiscal quarters.

Concentrix Corp: financial ratios, quarterly
Quarter	2024 Q4Nov 2024	2025 Q1Feb 2025	2025 Q2May 2025	2025 Q3Aug 2025	2025 Q4Nov 2025	2026 Q1Feb 2026	2026 Q2May 2026	2026 Q3Aug 2026
Gross margin	35.6%	36.1%	35.1%	34.4%	34.3%	34.0%	33.4%	34.6%
Operating margin	5.9%	7.1%	6.1%	5.9%	−54.1%	4.7%	3.9%	−37.1%
Net margin	4.7%	3.0%	1.7%	3.5%	−57.9%	0.9%	2.2%	−40.3%
Free-cash-flow margin	9.2%	−2.1%	7.5%	6.4%	11.0%	−5.5%	8.5%	9.0%
Current ratio	1.42	1.65	1.61	1.56	1.40	1.18	1.18	1.23
Debt to equity	117.2%	121.5%	114.3%	111.1%	169.0%	170.2%	169.7%	247.4%
SG&A as % of revenue	29.7%	29.0%	28.9%	28.5%	28.6%	29.2%	29.6%	28.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 6 checks passed · August 31, 2026

What it owns · $9.3bn

Short-term assets $2.9bnLonger-term assets $6.3bn

What it owes, and who funded it · $9.3bn

Short-term liabilities $2.4bnLonger-term liabilities $5.1bnShareholders' equity $1.8bn

Short-term assets cover short-term liabilities $2.9bn of assets due within a year against $2.4bn of liabilities due within a year.
Short-term assets cover long-term liabilities $2.9bn short-term assets against $5.1bn of longer-dated liabilities.
More cash than debt $245m of cash against $4.4bn of debt.
Debt below 40% of shareholders' equity Debt is 247% of equity.
Debt burden no higher than five years ago Debt to equity moved from 83% to 247% over five years.
A year's operating cash flow covers at least 20% of debt $787m of operating cash flow against $4.4bn of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Concentrix Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

29 /100

Weak moat

How hard Concentrix's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 7 / 20

Cash operating profit has been a median 6.3% of total assets over 5 years.
Pricing power 13 / 20

Gross margin has been a median 35.4%, moving by 0.7 percentage points (standard deviation) across 6 years.
Durability 1 / 20

Operating margin has been a median 8.3%; its worst year was -20.9%.
Cash conversion 13 / 20

Free cash flow was positive in 6 of 6 years, at a median 5.5% of revenue.
Discipline 11 / 20

The diluted share count rose 18.1% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (44 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Concentrix Corp's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Concentrix Corp.