Recent News
On March 20, 2026 the company amended and extended its accounts receivable securitization facility. On March 24, 2026 Concentrix completed underwriters’ arrangements to issue $600 million of senior notes, and the company held its annual meeting in late March where board and compensation proposals passed. Additional corporate filings in March–April 2026 disclosed capital markets activity tied to note issuance and related redemptions.
Technical Analysis
Directional strength (ADX/DI+/DI-): ADX at 26.03 indicates a developing to strong directional environment; DI+ shows an increasing trend while DI- shows a peak-and-reversal. The net effect reads as a recent shift toward bullish directional pressure that could support short-term rallies from current levels, but the ADX level warns the move carries measurable momentum and can extend or reverse quickly.
MACD: MACD at -1.43 with a peak-and-reversal trend and sitting below its signal line (-1.33) denotes prevailing bearish momentum. That bearish MACD momentum offsets some of the bullish signal from the directional indicators and suggests any upside attempts will need a MACD recovery to sustain gains.
MRO (Momentum/Regression Oscillator): MRO at -31.28 with a peak-and-reversal characterization indicates the price sits materially below the modeled target and therefore carries technical potential for a corrective increase; this potential must contend with bearish MACD momentum and resistance near moving averages.
RSI and short-term momentum: RSI at 41.4 and decreasing shows momentum weakening without reaching classical oversold territory; price retains room to move higher before hitting oversold-based mean-reversion signals, but declining RSI undercuts conviction for a sustained run.
Price vs moving averages and overlays: Closing price $22.90 sits below the 12-day EMA ($24.50), 20-day average ($24.48), 50-day average ($28.34) and far beneath the 200-day average ($39.34). Price also trades below the ichimoku cloud (Senkou A $29.45, Senkou B $34.15) and below the super trend upper band ($26.70), which frames the near-term outlook as constrained by multiple overhead resistances; any bounce faces technical friction in the $24.5–28.3 area.
Volatility and volume context: Volume at ~2.58M exceeds 10-day and 50-day averages, indicating recent sessions carry higher participation. Bollinger lower band near $23.24 vs current close $22.90 shows price nudging below the one-standard-deviation band, a configuration that can precede short-range mean reversion but also signals short-term distribution if sellers persist.
Fundamental Analysis
Revenue and growth: Total revenue reported $2,500,391,000 with YoY revenue change of -33.53% and a QoQ change of -173.34%. Trailing revenue growth stands at -2.06%. The pronounced YoY and QoQ declines reflect large period-over-period comparisons embedded in the reported figures and frame a near-term growth challenge for operational leverage.
Profitability and margins: Operating margin at 4.74% and EBIT margin at 4.16% fall below the industry peer mean operating/EBIT margins (operating margin mean ~13.907%, EBIT margin mean ~13.919%), indicating thinner operating profitability relative to peers. Gross margin at 33.98% sits above the industry peer mean of ~29.555%, suggesting service-cost structure still yields acceptable gross economics, but higher operating costs or integration expenses compress operating-level returns.
Cash flow and coverage: Free cash flow negative $137,122,000 and free cash flow yield -6.30% contrast with expected positive free-cash generation norms; operating cash flow negative $83,220,000 and cash conversion ratio ~5.37 amplify liquidity pressure. Interest coverage ~1.38 signals limited buffer to absorb higher financing costs should rates move up, while net debt $4,522,554,000 exceeds market capitalization $2,176,179,533 and sets a high-leverage profile (debt to EBITDA ~18.01), concentrating valuation risk around cash generation and refinancing performance.
Capital structure and solvency: Debt to assets ~44.45% and debt to equity ~170.18% show a capital structure materially tilted toward debt. Short-term debt $750,000,000 and total debt ~$4,745,253,000 require ongoing liquidity management; the March securitization amendment and the $600 million senior notes issuance relate directly to that funding picture.
Earnings and valuation multiples: Adjusted EPS $2.61 missed the estimate $2.65 by 1.51%. Trailing P/E ~13.71 and forward P/E ~11.82 sit well below the industry peer mean P/E (~66.60) and peer forward P/E (~59.13), while price-to-book ~0.78 sits below peer mean ~3.84. Enterprise multiple ~25.43 sits near the lower end of the peer enterprise-multiple range but WMDST flags the current valuation as over-valued when weighed against negative free cash flow, high net debt, and weak coverage metrics.
Valuation summary: WMDST values the stock as over-valued. Low market multiples contrast with operational cash strain and leverage that justify a cautious valuation posture until cash flow reverses and interest coverage improves.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-02-28 |
| REPORT DATE: | 2026-03-24 |
| NEXT REPORT DATE: | 2026-06-23 |
| CASH FLOW | Begin Period Cash Flow | $ 521.1 M |
| Operating Cash Flow | $ -83.22 M | |
| Capital Expenditures | $ -53.90 M | |
| Change In Working Capital | $ -305.70 M | |
| Dividends Paid | $ -23.15 M | |
| Cash Flow Delta | $ -105.61 M | |
| End Period Cash Flow | $ 415.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.5 B | |
| Forward Revenue | $ 5.7 B | |
| COSTS | ||
| Cost Of Revenue | $ 1.7 B | |
| Depreciation | $ 55.9 M | |
| Depreciation and Amortization | $ 159.4 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 2.4 B | |
| PROFITABILITY | ||
| Gross Profit | $ 849.7 M | |
| EBITDA | $ 263.4 M | |
| EBIT | $ 104.0 M | |
| Operating Income | $ 118.6 M | |
| Interest Income | — | |
| Interest Expense | $ 75.3 M | |
| Net Interest Income | $ -75.32 M | |
| Income Before Tax | $ 28.7 M | |
| Tax Provision | $ 7.1 M | |
| Tax Rate | 24.9 % | |
| Net Income | $ 21.6 M | |
| Net Income From Continuing Operations | $ 21.6 M | |
| EARNINGS | ||
| EPS Estimate | $ 2.65 | |
| EPS Actual | $ 2.61 | |
| EPS Difference | $ -0.04 | |
| EPS Surprise | -1.509 % | |
| Forward EPS | $ 3.21 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 10.7 B | |
| Intangible Assets | $ 5.6 B | |
| Net Tangible Assets | $ -2.77 B | |
| Total Current Assets | $ 3.0 B | |
| Cash and Short-Term Investments | $ 222.7 M | |
| Cash | $ 222.7 M | |
| Net Receivables | $ 1.1 B | |
| Inventory | — | |
| Long-Term Investments | $ 1.0 B | |
| LIABILITIES | ||
| Accounts Payable | $ 202.4 M | |
| Short-Term Debt | $ 750.0 M | |
| Total Current Liabilities | $ 2.6 B | |
| Net Debt | $ 4.5 B | |
| Total Debt | $ 4.7 B | |
| Total Liabilities | $ 7.9 B | |
| EQUITY | ||
| Total Equity | $ 2.8 B | |
| Retained Earnings | $ -178.65 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 45.85 | |
| Shares Outstanding | 60.822 M | |
| Revenue Per-Share | $ 41.11 | |
| VALUATION | Market Capitalization | $ 2.2 B |
| Enterprise Value | $ 6.7 B | |
| Enterprise Multiple | 25.43 | |
| Enterprise Multiple QoQ | -547.758 % | |
| Enterprise Multiple YoY | 220.203 % | |
| Enterprise Multiple IPRWA | high: 80.076 median: 49.935 mean: 45.2 CNXC: 25.43 low: 24.184 |
|
| EV/R | 2.679 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.828 | |
| Asset To Liability | 1.354 | |
| Debt To Capital | 0.63 | |
| Debt To Assets | 0.445 | |
| Debt To Assets QoQ | 3.13 % | |
| Debt To Assets YoY | 7.874 % | |
| Debt To Assets IPRWA | high: 0.501 CNXC: 0.445 mean: 0.189 median: 0.124 low: 0.004 |
|
| Debt To Equity | 1.702 | |
| Debt To Equity QoQ | 0.684 % | |
| Debt To Equity YoY | 1546963.636 % | |
| Debt To Equity IPRWA | high: 1.79 CNXC: 1.702 mean: 0.435 median: 0.267 low: 0.015 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.78 | |
| Price To Book QoQ | -16.44 % | |
| Price To Book YoY | 6.207 % | |
| Price To Book IPRWA | high: 6.377 median: 4.569 mean: 3.837 low: 1.012 CNXC: 0.78 |
|
| Price To Earnings (P/E) | 13.709 | |
| Price To Earnings QoQ | -2.592 % | |
| Price To Earnings YoY | -17.659 % | |
| Price To Earnings IPRWA | high: 128.818 median: 71.323 mean: 66.604 low: 33.605 CNXC: 13.709 |
|
| PE/G Ratio | -1.189 | |
| Price To Sales (P/S) | 0.87 | |
| Price To Sales QoQ | -13.314 % | |
| Price To Sales YoY | -30.345 % | |
| Price To Sales IPRWA | high: 8.708 median: 7.903 mean: 6.789 low: 2.348 CNXC: 0.87 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 11.815 | |
| Forward PE/G | -1.025 | |
| Forward P/S | 0.385 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 52.27 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.233 | |
| Asset Turnover Ratio QoQ | 5.872 % | |
| Asset Turnover Ratio YoY | 17.455 % | |
| Asset Turnover Ratio IPRWA | high: 0.397 median: 0.274 mean: 0.267 CNXC: 0.233 low: 0.154 |
|
| Receivables Turnover | 2.29 | |
| Receivables Turnover Ratio QoQ | -0.955 % | |
| Receivables Turnover Ratio YoY | 5.613 % | |
| Receivables Turnover Ratio IPRWA | high: 2.668 CNXC: 2.29 mean: 1.462 median: 1.303 low: 0.578 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 39.853 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 27.686 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | -11.969 % | |
| Cash Conversion Cycle Days IPRWA | high: 93.482 median: 47.88 mean: 46.803 CNXC: 27.686 low: -9.299 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 5.367 | |
| CapEx To Revenue | -0.022 | |
| CapEx To Depreciation | -0.964 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 6.8 B | |
| Net Invested Capital | $ 7.5 B | |
| Invested Capital | $ 7.5 B | |
| Net Tangible Assets | $ -2.77 B | |
| Net Working Capital | $ 465.9 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.086 | |
| Current Ratio | 1.181 | |
| Current Ratio QoQ | -15.913 % | |
| Current Ratio YoY | -28.515 % | |
| Current Ratio IPRWA | high: 2.666 mean: 1.481 median: 1.336 CNXC: 1.181 low: 0.845 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 18.014 | |
| Cost Of Debt | 1.206 % | |
| Interest Coverage Ratio | 1.381 | |
| Interest Coverage Ratio QoQ | -107.02 % | |
| Interest Coverage Ratio YoY | -41.975 % | |
| Interest Coverage Ratio IPRWA | high: 124.857 mean: 42.228 median: 39.647 CNXC: 1.381 low: -2.188 |
|
| Operating Cash Flow Ratio | 0.048 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 12.167 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 0.933 | |
| Dividend Payout Ratio | 1.072 | |
| Dividend Rate | $ 0.38 | |
| Dividend Yield | 0.011 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.803 % | |
| Revenue Growth | -2.058 % | |
| Revenue Growth QoQ | -173.343 % | |
| Revenue Growth YoY | -33.527 % | |
| Revenue Growth IPRWA | high: 5.896 % mean: -1.789 % CNXC: -2.058 % median: -3.725 % low: -13.781 % |
|
| Earnings Growth | -11.525 % | |
| Earnings Growth QoQ | -109.592 % | |
| Earnings Growth YoY | -20.06 % | |
| Earnings Growth IPRWA | high: 16.0 % CNXC: -11.525 % mean: -12.546 % median: -33.333 % low: -65.385 % |
|
| MARGINS | ||
| Gross Margin | 33.981 % | |
| Gross Margin QoQ | -0.965 % | |
| Gross Margin YoY | -5.818 % | |
| Gross Margin IPRWA | high: 77.164 % CNXC: 33.981 % median: 30.256 % mean: 29.555 % low: 9.735 % |
|
| EBIT Margin | 4.161 % | |
| EBIT Margin QoQ | -107.719 % | |
| EBIT Margin YoY | -43.202 % | |
| EBIT Margin IPRWA | high: 20.745 % median: 13.967 % mean: 13.919 % CNXC: 4.161 % low: -3.536 % |
|
| Return On Sales (ROS) | 4.742 % | |
| Return On Sales QoQ | -16.705 % | |
| Return On Sales YoY | -35.272 % | |
| Return On Sales IPRWA | high: 20.513 % mean: 13.907 % median: 13.819 % CNXC: 4.742 % low: -3.536 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -137.12 M | |
| Free Cash Flow Yield | -6.301 % | |
| Free Cash Flow Yield QoQ | -157.438 % | |
| Free Cash Flow Yield YoY | 279.578 % | |
| Free Cash Flow Yield IPRWA | high: 7.432 % median: 2.572 % mean: 2.09 % low: -0.74 % CNXC: -6.301 % |
|
| Free Cash Growth | -148.765 % | |
| Free Cash Growth QoQ | -295.694 % | |
| Free Cash Growth YoY | 22.022 % | |
| Free Cash Growth IPRWA | high: 143.311 % median: 143.311 % mean: 62.731 % CNXC: -148.765 % low: -233.846 % |
|
| Free Cash To Net Income | -6.351 | |
| Cash Flow Margin | 4.995 % | |
| Cash Flow To Earnings | 5.785 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | 0.201 % | |
| Return On Assets QoQ | -101.574 % | |
| Return On Assets YoY | -65.816 % | |
| Return On Assets IPRWA | high: 3.971 % median: 2.77 % mean: 2.64 % CNXC: 0.201 % low: -0.242 % |
|
| Return On Capital Employed (ROCE) | 1.285 % | |
| Return On Equity (ROE) | 0.008 | |
| Return On Equity QoQ | -101.436 % | |
| Return On Equity YoY | -55.568 % | |
| Return On Equity IPRWA | high: 0.086 median: 0.058 mean: 0.054 CNXC: 0.008 low: -0.003 |
|
| DuPont ROE | 0.78 % | |
| Return On Invested Capital (ROIC) | 1.037 % | |
| Return On Invested Capital QoQ | -107.042 % | |
| Return On Invested Capital YoY | -102.633 % | |
| Return On Invested Capital IPRWA | high: 7.824 % median: 5.248 % mean: 4.653 % CNXC: 1.037 % low: -0.417 % |
|