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Synnex Operating Margin %

: 3.24% (As of Aug. 2020)
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Operating Margin % is calculated as Operating Income divided by its Revenue. Synnex's Operating Income for the three months ended in Aug. 2020 was $209 Mil. Synnex's Revenue for the three months ended in Aug. 2020 was $6,465 Mil. Therefore, Synnex's Operating Margin % for the quarter that ended in Aug. 2020 was 3.24%.

Good Sign:

Synnex Corp operating margin is expanding. Margin expansion is usually a good sign.

NYSE:SNX' s Operating Margin % Range Over the Past 10 Years
Min: 2.22   Med: 2.57   Max: 3.43
Current: 3.36

2.22
3.43

NYSE:SNX's Operating Margin % is ranked lower than
53% of the 2272 Companies
in the Software industry.

( Industry Median: 4.14 vs. NYSE:SNX: 3.36 )

Synnex's 5-Year Average Operating Margin % Growth Rate was 7.10% per year.

Synnex's Operating Income for the three months ended in Aug. 2020 was $209 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Aug. 2020 was $778 Mil.


Synnex Operating Margin % Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Synnex Annual Data
Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20
Operating Margin % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.70 3.03 2.78 3.43 3.36

Synnex Quarterly Data
Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20
Operating Margin % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.08 3.58 2.02 3.24 4.32

Competitive Comparison
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap.


Synnex Operating Margin % Distribution

* The bar in red indicates where Synnex's Operating Margin % falls into.



Synnex Operating Margin % Calculation

Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.

Synnex's Operating Margin % for the fiscal year that ended in Nov. 2019 is calculated as

Operating Margin %=Operating Income (A: Nov. 2019 ) / Revenue (A: Nov. 2019 )
=813.761 / 23757.293
=3.43 %

Synnex's Operating Margin % for the quarter that ended in Aug. 2020 is calculated as

Operating Margin %=Operating Income (Q: Aug. 2020 ) / Revenue (Q: Aug. 2020 )
=209.136 / 6464.782
=3.24 %

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Synnex  (NYSE:SNX) Operating Margin % Explanation

Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.


Be Aware

Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia’s Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


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