Recent News
On February 12, 2026 Concentrix priced a $600 million public offering of 6.500% senior notes due 2029 to refinance outstanding 2026 notes; the offering expects to close on February 24, 2026. On March 5, 2026 the company scheduled the release of first-quarter 2026 financial results and a conference call for March 24, 2026.
Technical Analysis
Directional indicators: ADX at 21.94 signals an emerging trend strength while DI+ peaked-and-reversed and DI- dipped-and-reversed; both DI readings point to a bearish directional bias that increases near-term downside risk relative to the current valuation.
MACD sits at -1.62 with a peak-and-reversal pattern and trades below its signal line (-1.25), confirming bearish momentum that weighs on price action despite the stock’s WMDST under-valuation.
MRO registers -2.58, indicating the price sits below WMDST’s target and implies mean-reversion potential; the MRO peak-and-reversal trend shows the oscillator moved lower, strengthening the case for price convergence toward intrinsic value once momentum stabilizes.
RSI at 42.52 with a peak-and-reversal pattern indicates falling relative strength but not an oversold extreme, supporting a near-term bias toward continuation of downward pressure before any durable rebound.
Price vs moving averages and cloud: the share price ($24.67) trades well below the 20-day ($31.51), 50-day ($35.15) and 200-day ($44.19) averages; the 12-day EMA (30.39) declines. Ichimoku components lie above price (Senkou A 36.73, Senkou B 37.06), reinforcing a bearish structural backdrop that must flip before sustained upside can follow the stated valuation.
Bollinger bands and volatility: closing below the lower 2x standard-deviation band (lower 2x = $25.31) indicates an extreme short-term deviation and elevated 42-day volatility; this amplifies mean-reversion potential but also raises the probability of continued whipsaw while momentum indicators remain negative.
Volume profile: intraday volume (3,339,718) exceeds the 10-day average (2,268,089) and the 50-day average (1,564,487), signaling active participation that supports the observed momentum and increases the chance of larger intra-range moves relative to the valuation baseline.
Fundamental Analysis
Q4 fiscal 2025 results show a significant non-cash goodwill impairment that produced an operating loss and drove net loss for the quarter; management reported an operating loss and net loss tied to a $1,523.3 million goodwill charge. The impairment explains the disconnect between positive operating cash generation and negative GAAP operating and net income.
Profitability and margins: EBIT registers $-1,376,244,000 and an EBIT margin of -53.91%, well below the industry peer mean of 14.98% and industry peer median of 16.18%. Operating income on an adjusted basis remains positive, but GAAP profitability suffers from the impairment charge that drove the large negative EBIT and net loss.
Top line and efficiency: total revenue reached $2,552,925,000 with YoY revenue growth of 10.52% and QoQ growth of 2.97%, showing continued top-line expansion. Gross margin stands at 34.31%, slightly above the industry peer mean of 32.97%, while asset turnover at 0.220 is below the industry peer mean of 0.274, indicating lower capital efficiency versus the peer mean.
Capital structure and cash flow: market capitalization sits at $2,563,185,341 with net debt of $4,311,167,000, producing notable leverage (debt-to-equity ~169.02% and debt-to-assets ~43.11%). Free cash flow of $281,188,000 yields 10.97% and improved QoQ and YoY free-cash metrics, providing room for deleveraging and capital allocation despite the sizable leverage.
Valuation metrics: trailing P/E near 14.07 and forward P/E of 12.79 reflect the market’s adjustment for the impairment and leverage; EPS miss versus consensus registered $0.04 (EPS actual $2.61 vs estimate $2.65), an EPS surprise of -1.51%. WMDST values the stock as under-valued given the combination of strong free cash flow yield and discounted multiples relative to normalized earnings expectations.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-11-30 |
| REPORT DATE: | 2026-03-24 |
| NEXT REPORT DATE: | 2026-06-23 |
| CASH FLOW | Begin Period Cash Flow | $ 538.5 M |
| Operating Cash Flow | $ 344.2 M | |
| Capital Expenditures | $ -63.03 M | |
| Change In Working Capital | $ 151.7 M | |
| Dividends Paid | $ -23.23 M | |
| Cash Flow Delta | $ -17.36 M | |
| End Period Cash Flow | $ 521.1 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.6 B | |
| Forward Revenue | $ -87.07 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.7 B | |
| Depreciation | $ 58.1 M | |
| Depreciation and Amortization | $ 165.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 2.4 B | |
| PROFITABILITY | ||
| Gross Profit | $ 876.0 M | |
| EBITDA | $ -1.21 B | |
| EBIT | $ -1.38 B | |
| Operating Income | $ 145.3 M | |
| Interest Income | — | |
| Interest Expense | $ 69.9 M | |
| Net Interest Income | $ -69.94 M | |
| Income Before Tax | $ -1.45 B | |
| Tax Provision | $ 33.2 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ -1.48 B | |
| Net Income From Continuing Operations | $ -1.48 B | |
| EARNINGS | ||
| EPS Estimate | $ 2.65 | |
| EPS Actual | $ 2.61 | |
| EPS Difference | $ -0.04 | |
| EPS Surprise | -1.509 % | |
| Forward EPS | $ 3.27 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 10.8 B | |
| Intangible Assets | $ 5.6 B | |
| Net Tangible Assets | $ -2.89 B | |
| Total Current Assets | $ 3.1 B | |
| Cash and Short-Term Investments | $ 327.3 M | |
| Cash | $ 327.3 M | |
| Net Receivables | $ 1.1 B | |
| Inventory | — | |
| Long-Term Investments | $ 991.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 244.8 M | |
| Short-Term Debt | $ 65.6 M | |
| Total Current Liabilities | $ 2.2 B | |
| Net Debt | $ 4.3 B | |
| Total Debt | $ 4.6 B | |
| Total Liabilities | $ 8.0 B | |
| EQUITY | ||
| Total Equity | $ 2.7 B | |
| Retained Earnings | $ -177.01 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 44.45 | |
| Shares Outstanding | 61.739 M | |
| Revenue Per-Share | $ 41.35 | |
| VALUATION | Market Capitalization | $ 2.6 B |
| Enterprise Value | $ 6.9 B | |
| Enterprise Multiple | -5.679 | |
| Enterprise Multiple QoQ | -125.7 % | |
| Enterprise Multiple YoY | -174.95 % | |
| Enterprise Multiple IPRWA | high: 59.691 median: 46.929 mean: 40.541 CNXC: -5.679 low: -7.239 |
|
| EV/R | 2.693 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.921 | |
| Asset To Liability | 1.342 | |
| Debt To Capital | 0.628 | |
| Debt To Assets | 0.431 | |
| Debt To Assets QoQ | 10.804 % | |
| Debt To Assets YoY | 205161.905 % | |
| Debt To Assets IPRWA | high: 0.976 CNXC: 0.431 mean: 0.194 median: 0.127 low: 0.005 |
|
| Debt To Equity | 1.69 | |
| Debt To Equity QoQ | 52.088 % | |
| Debt To Equity YoY | 272514.516 % | |
| Debt To Equity IPRWA | high: 4.036 CNXC: 1.69 mean: 0.553 median: 0.266 low: -2.661 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.934 | |
| Price To Book QoQ | 22.893 % | |
| Price To Book YoY | 27.947 % | |
| Price To Book IPRWA | high: 10.768 median: 5.108 mean: 4.135 CNXC: 0.934 low: -0.523 |
|
| Price To Earnings (P/E) | 14.073 | |
| Price To Earnings QoQ | -64.466 % | |
| Price To Earnings YoY | -0.059 % | |
| Price To Earnings IPRWA | high: 83.682 median: 64.904 mean: 62.906 CNXC: 14.073 low: -20.675 |
|
| PE/G Ratio | 0.117 | |
| Price To Sales (P/S) | 1.004 | |
| Price To Sales QoQ | -24.483 % | |
| Price To Sales YoY | -16.652 % | |
| Price To Sales IPRWA | high: 12.784 median: 8.413 mean: 6.73 CNXC: 1.004 low: 0.003 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 12.789 | |
| Forward PE/G | 0.106 | |
| Forward P/S | -28.903 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -303.017 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.22 | |
| Asset Turnover Ratio QoQ | 10.059 % | |
| Asset Turnover Ratio YoY | 8.912 % | |
| Asset Turnover Ratio IPRWA | high: 0.567 median: 0.288 mean: 0.274 CNXC: 0.22 low: 0.129 |
|
| Receivables Turnover | 2.312 | |
| Receivables Turnover Ratio QoQ | 5.723 % | |
| Receivables Turnover Ratio YoY | -0.447 % | |
| Receivables Turnover Ratio IPRWA | high: 4.195 CNXC: 2.312 mean: 1.562 median: 1.388 low: 0.373 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 39.472 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.874 | |
| CapEx To Revenue | -0.025 | |
| CapEx To Depreciation | -1.085 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 7.3 B | |
| Net Invested Capital | $ 7.4 B | |
| Invested Capital | $ 7.4 B | |
| Net Tangible Assets | $ -2.89 B | |
| Net Working Capital | $ 888.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.149 | |
| Current Ratio | 1.404 | |
| Current Ratio QoQ | -10.067 % | |
| Current Ratio YoY | -1.391 % | |
| Current Ratio IPRWA | high: 3.119 mean: 1.653 median: 1.411 CNXC: 1.404 low: 0.675 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -3.832 | |
| Cost Of Debt | 1.172 % | |
| Interest Coverage Ratio | -19.679 | |
| Interest Coverage Ratio QoQ | -872.47 % | |
| Interest Coverage Ratio YoY | -892.443 % | |
| Interest Coverage Ratio IPRWA | high: 110.75 median: 46.402 mean: 39.69 CNXC: -19.679 low: -28.708 |
|
| Operating Cash Flow Ratio | -0.57 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 13.067 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | -63.698 | |
| Dividend Payout Ratio | -0.016 | |
| Dividend Rate | $ 0.38 | |
| Dividend Yield | 0.011 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -13.288 % | |
| Revenue Growth | 2.806 % | |
| Revenue Growth QoQ | 2.972 % | |
| Revenue Growth YoY | 10.516 % | |
| Revenue Growth IPRWA | high: 22.514 % median: 6.512 % mean: 3.624 % CNXC: 2.806 % low: -9.343 % |
|
| Earnings Growth | 120.149 % | |
| Earnings Growth QoQ | -338.533 % | |
| Earnings Growth YoY | 784.164 % | |
| Earnings Growth IPRWA | CNXC: 120.149 % high: 94.595 % median: 30.033 % mean: 17.763 % low: -80.0 % |
|
| MARGINS | ||
| Gross Margin | 34.312 % | |
| Gross Margin QoQ | -0.346 % | |
| Gross Margin YoY | -3.518 % | |
| Gross Margin IPRWA | high: 77.989 % CNXC: 34.312 % median: 33.065 % mean: 32.966 % low: 2.672 % |
|
| EBIT Margin | -53.909 % | |
| EBIT Margin QoQ | -829.683 % | |
| EBIT Margin YoY | -798.213 % | |
| EBIT Margin IPRWA | high: 22.688 % median: 16.183 % mean: 14.983 % low: -2.078 % CNXC: -53.909 % |
|
| Return On Sales (ROS) | 5.693 % | |
| Return On Sales QoQ | -3.818 % | |
| Return On Sales YoY | -26.266 % | |
| Return On Sales IPRWA | high: 19.071 % median: 16.974 % mean: 14.751 % CNXC: 5.693 % low: -0.483 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 281.2 M | |
| Free Cash Flow Yield | 10.97 % | |
| Free Cash Flow Yield QoQ | 126.7 % | |
| Free Cash Flow Yield YoY | 44.077 % | |
| Free Cash Flow Yield IPRWA | high: 23.799 % CNXC: 10.97 % mean: 1.712 % median: 0.956 % low: -6.181 % |
|
| Free Cash Growth | 76.019 % | |
| Free Cash Growth QoQ | -754.434 % | |
| Free Cash Growth YoY | 2.421 % | |
| Free Cash Growth IPRWA | high: 126.42 % CNXC: 76.019 % mean: -34.243 % median: -37.215 % low: -206.016 % |
|
| Free Cash To Net Income | -0.19 | |
| Cash Flow Margin | -49.042 % | |
| Cash Flow To Earnings | 0.846 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -12.769 % | |
| Return On Assets QoQ | -1898.451 % | |
| Return On Assets YoY | -1435.669 % | |
| Return On Assets IPRWA | high: 5.495 % median: 3.174 % mean: 2.88 % low: -2.323 % CNXC: -12.769 % |
|
| Return On Capital Employed (ROCE) | -16.069 % | |
| Return On Equity (ROE) | -0.539 | |
| Return On Equity QoQ | -2758.136 % | |
| Return On Equity YoY | -1982.885 % | |
| Return On Equity IPRWA | high: 0.098 median: 0.072 mean: 0.058 low: -0.048 CNXC: -0.539 |
|
| DuPont ROE | -41.74 % | |
| Return On Invested Capital (ROIC) | -14.726 % | |
| Return On Invested Capital QoQ | -1030.847 % | |
| Return On Invested Capital YoY | -76.525 % | |
| Return On Invested Capital IPRWA | high: 10.135 % median: 6.362 % mean: 5.095 % low: -0.921 % CNXC: -14.726 % |
|