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Specialty business services · Industrials · Fiscal year ends Nov 30
Concentrix reported revenue of $9.8B in the fiscal year ended Nov 2025, up 2.2% from the year before. Operating income was −$918M, an operating margin of −9.3%, and net income was −$1.3B. Operating cash flow of $807M less capital expenditure of $234M left free cash flow of $572M. Net debt was $4.3B.
Ranks among the 24 specialty business services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Nov 2021 | Nov 2022 | Nov 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|
| Revenue | 5,587 | 6,324 | 7,115 | 9,619 | 9,826 |
| Cost of revenue | 3,618 | 4,067 | 4,537 | 6,170 | 6,391 |
| Gross profit | 1,969 | 2,257 | 2,578 | 3,449 | 3,435 |
| Selling, general & admin | 1,397 | 1,617 | 1,917 | 2,853 | 2,825 |
| Operating income | 572 | 640 | 661 | 596 | −918 |
| Interest expense | 23.0 | 70.1 | 201 | 322 | 290 |
| Pre-tax income | 556 | 605 | 408 | 299 | −1,182 |
| Income tax | 150 | 169 | 94.4 | 48.1 | 96.7 |
| Net income | 406 | 435 | 314 | 251 | −1,279 |
| Diluted EPS | 7.70 | 8.28 | 5.70 | 3.71 | −20.36 |
| Diluted shares | 51.9 | 51.7 | 54.0 | 65.1 | 63.0 |
| Fiscal year | Nov 2021 | Nov 2022 | Nov 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 182 | 145 | 295 | 241 | 327 |
| Receivables | 1,208 | 1,390 | 1,889 | 1,927 | 1,999 |
| Current assets | 1,543 | 1,754 | 2,859 | 2,842 | 3,085 |
| Net PP&E | 407 | 404 | 749 | 715 | 736 |
| Goodwill | 1,814 | 2,904 | 5,079 | 4,987 | 3,672 |
| Total assets | 5,046 | 6,670 | 12,492 | 11,991 | 10,761 |
| Payables | 129 | 161 | 244 | 210 | 245 |
| Current liabilities | 968 | 1,132 | 2,074 | 1,996 | 2,196 |
| Short-term debt | 0.0 | 0.0 | 2.3 | 2.5 | 65.6 |
| Long-term debt | 802 | 2,224 | 4,940 | 4,733 | 4,573 |
| Total liabilities | 2,426 | 3,974 | 8,349 | 7,952 | 8,017 |
| Shareholders' equity | 2,620 | 2,696 | 4,143 | 4,040 | 2,744 |
| Fiscal year | Nov 2021 | Nov 2022 | Nov 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 514 | 601 | 678 | 667 | 807 |
| Capital expenditure | 149 | 140 | 181 | 239 | 234 |
| Free cash flow | 365 | 461 | 497 | 429 | 572 |
| Depreciation & amortisation | 140 | 147 | 173 | 247 | 226 |
| Stock-based compensation | 36.2 | 47.1 | 62.1 | 96.1 | 96.4 |
| Acquisitions | 3.3 | 1,698 | 1,914 | 5.5 | 15.9 |
| Share buybacks | 25.1 | 121 | 64.0 | 136 | 169 |
| Dividends paid | 13.1 | 53.4 | 63.5 | 83.8 | 89.6 |
| Fiscal year | Nov 2021 | Nov 2022 | Nov 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 13.2% | 12.5% | 35.2% | 2.2% |
| Operating income growth (YoY) | – | 11.8% | 3.3% | −9.8% | −254.0% |
| EPS growth (YoY) | – | 7.5% | −31.2% | −34.9% | −648.8% |
| Gross margin | 35.3% | 35.7% | 36.2% | 35.9% | 35.0% |
| Operating margin | 10.2% | 10.1% | 9.3% | 6.2% | −9.3% |
| Net margin | 7.3% | 6.9% | 4.4% | 2.6% | −13.0% |
| Return on equityBlank when equity is negative | 15.5% | 16.1% | 7.6% | 6.2% | −46.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 14.0% | 11.6% | 6.3% | 6.0% | −10.7% |
| Free cash flow margin | 6.5% | 7.3% | 7.0% | 4.5% | 5.8% |
| Cash conversion (CFO ÷ net income) | 1.27x | 1.38x | 2.16x | 2.66x | −0.63x |
| Receivable days | 79 | 80 | 97 | 73 | 74 |
| Payable days | 13 | 14 | 20 | 12 | 14 |
| Interest cover | 24.8x | 9.14x | 3.29x | 1.85x | −3.16x |
| Debt ÷ equity | 0.31x | 0.83x | 1.19x | 1.17x | 1.69x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 620 | 2,079 | 4,647 | 4,495 | 4,311 |
| Current ratio | 1.59x | 1.55x | 1.38x | 1.42x | 1.40x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.