QualityDipStocks / Technology · Software
Concentrix CNXC
Outside our quality screen, so we don’t track its dips. It’s 30% below its 52-week high.
Outside our quality screen, 12% over its Market Value. No fair value estimate for now: the model’s result is too extreme to stand behind.
- Fair value est.
- n/a
- Market Value
- $27.68price +12%
- Off 52-wk high
- −30%
- Risk vs market
- Lowbeta 0.60
52-week range 43% of the way from its 52-week low to its high
Price $30.89Market Value $27.68
4 bullish · 5 bearish See why
Repriced or dip?
Mixed signals
The price is 30% below its 52-week high (Jan 8), but the business held up: free cash flow +11.5%, shares outstanding fewer shares, each owns more, net cash (cash minus debt) +40.4% of market cap since the high.
Some numbers held up (free cash flow +11.5%, shares outstanding fewer shares, each owns more, net cash (cash minus debt) +40.4% of market cap since the high), others slipped (earnings per share turned to a loss, operating margin −27.1 pts). The price is 30% below its 52-week high.
The price is 30% below its 52-week high, and the business changed too: earnings per share turned to a loss, operating margin −27.1 pts.
Within 10% of its 52-week high, so there is no dip to judge yet.
The evidence 10 numbers, high vs now
- Revenue, last 12 months$9.7B → $10.0B (+2.6%)held up
- Revenue growth rate+3.4% → +2.6% a year (−0.8 pts)about the same
- Earnings per share, 12 monthsturned to a losschanged
- Free cash flow, 12 months$516M → $575M (+11.5%)held up
- Operating margin6.3% → −20.9% (−27.1 pts)changed
- Shares outstanding−2.9% (fewer shares, each owns more)held up
- Net cash (cash minus debt)+40.4% of market cap since the highheld up
- Stock vs its sector (Technology)stock −30%, sector median +6% since Jan 8changed
- Price fall vs business numbersprice −30%, revenue/EPS/FCF median +7% (shown, not scored)
- Valuation multipleP/FCF 5.4× at the high → 3.3× now (shown, not scored)
Business numbers as reported at the high (12 months to Aug 31, 2025) vs the latest filing (12 months to Aug 31, 2026). Each measure is scored from −1 (business changed) to +1 (business intact) and weighted: revenue, earnings per share, free cash flow, operating margin, revenue growth rate, share count, net cash and the move vs its sector. 60 or more reads as a dip, 40 or less as a repricing. Analyst estimates are not in our data, so they are not used. How to read it
Data-based read, not advice.
Priced in
How much growth the market assumed at the 52-week high, the low and today (a reverse DCF).
At the high ($44.07, Jan 8) the price assumed about −16%/yr free-cash-flow growth; at the low ($20.97, Jul 9) about −30%; today about −25%. The last 3 years delivered 8%/yr (free cash flow).
Dashed line: what the last 3 years delivered, 8%/yr (free cash flow)
| High | Low | Now | |
|---|---|---|---|
| Price | $44.07Jan 8 | $20.97Jul 9 | $30.89 |
| Implied growth | −16% | −30% | −25% |
| P/E | 9.2× | n/a | n/a |
| P/FCF | 5.4× | 2.5× | 3.3× |
| EV/Sales | 0.7× | 0.5× | 0.6× |
What this means: the higher the implied growth, the more the price already counts on. If today's number sits well below what the business has delivered, the market expects less than its track record.
How it’s computed
Reverse DCF: the same 10-year free-cash-flow model as our fair value estimate (9.5% discount rate, growth for years 1–5 fading to 3% by year 10, 3% after), solved for the growth that makes it equal the market value at each price. For the high and the low we use only the filings that were public on that day, so nothing from a later report leaks back. Market value = that close × diluted shares. P/E = market value / 12-month net income; Price / FCF = market value / 12-month free cash flow; EV / Sales = (market value + debt − cash) / 12-month revenue. Hidden when the share count moved over 20% (split, merger), free cash flow is negative, or the company reports in another currency.
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
Estimate unreliable for CNXC: the model gives 843% above the price, more than we can stand behind (usually peak-cycle cash flow, heavy debt, or cash flows that include customer or loan balances). We’d rather show nothing than a made-up number.
What the price implies To be worth today’s price, CNXC’s free cash flow would need to shrink about 25% a year for five years; our estimate uses 15%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much CNXC moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves much less than the market, but its own price swings are 5.5× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- 0.60
- Volatility
- 71% vs 13% SPY
- Correlation SPY
- 0.11
- Correlation QQQ
- −0.02
How it ranks
Where CNXC stands vs every one of the 2,467 stocks we cover that has the number. Longer bar = better.
Top quarter on 2 of 5 measures
- Free cash flow yield31% · free cash flow vs market capTop 1%of 1,690
- Dividends + buybacks yield10% · cash paid out or used to retire shares, vs market capTop 7%of 2,227
- Revenue growth, last 12 months+2.6% · vs the 12 months beforeLowest 22%of 2,184
- Operating margin−21% · of sales kept as operating profitLowest 5%of 1,549
- Return on invested capital−30% · profit per dollar of capitalLowest 2%of 1,001
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
MV $27.68 · FCF value $235.74
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 4 of 5
ValuationFree-cash-flow yield of 30.6% (price / FCF 3.3×): $575M of free cash in the last 12 months.
Cash returnsDividend yield of 4.9% ($92M paid over 12 months).
GrowthSales compounded 16% a year from FY2022 to FY2025.
Cash returnsShare count down 2.9% in a year: $99M of buybacks over 12 months.
Top bearish points 5 of 5
ProfitabilityOperating margin narrowed to −9.3% in FY2025 from 9.3% in FY2023 (SEC filings).
Balance sheetOperating income covers interest only -7.5× over the last 12 months.
ProfitabilityLost $2.4B over the last 12 months (net income, SEC filings).
ProfitabilityReturn on equity fell 54 points in two fiscal years, to -47% in FY2025.
QualityDoesn’t pass our quality screen: ROE under 12% and ROIC under 10%; sales down vs the year-ago quarter; net debt 4.0× EBITDA (limit 3×).
All fundamentals
FCF yield 30.6% · ROE -78% · Sales +3%
Valuation
- P/E
- n/aloss over the last 12 months
- Price / FCF
- 3.3×
- FCF yield
- 30.6%
- EV / EBITDA
- n/anegative EBITDA
- Price / sales
- 0.19×
- Price / book
- 1.06×
- Market cap
- $1.9Bprice × diluted shares
- Enterprise value
- $5.6B
Growth
- Revenue, 12 months
- $10.0B
- Sales growth, 12 months
- +2.6%vs the 12 months before
- Sales growth, 3 yrs
- +15.8%/yrfrom FY2022
- Diluted EPS, 12 months
- −$38.36
- EPS growth, last FY
- n/afewer than two years of diluted EPS
- Net income, 12 months
- −$2.4B
- Net income growth
- n/anot reported in its SEC filings
Profitability
- Gross margin
- 34.1%
- Operating margin
- −20.9%
- Net margin
- −24.0%
- FCF margin
- 5.8%
- Return on equity
- −78%
- Return on invested capital
- −30%
Balance sheet
- Cash & short-term inv.
- $245M
- Total debt
- $3.9B
- Net cash
- −$3.7B
- Debt / equity
- 2.22×
- Interest coverage
- -7.5×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- $575M
- FCF growth, 12 months
- +11%
- Dividend yield
- 4.92%$92M paid
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- $99M5.3% of market cap
- Share count, 1 year
- −2.9%diluted shares vs a year ago
- Stock-based comp
- $90M
Trailing 12 months to Aug 31, 2026; balance sheet at Aug 31, 2026. From Concentrix’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $0.6B · Sales −1%
- Free cash flow, 12 months$0.6B
- Free-cash-flow yield30.6%
- Gross margin35%
- Operating margin7%
- Return on invested capital8%
- Return on equity−78%
- Sales growth (latest quarter vs year-ago quarter)−1%
- Net debt / EBITDA4.0×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $30.89
- 52-wk lowlowest close, 1 year$20.97−32.1%
- Market Valueavg paid since Sep 29$27.68−10.4%
- PriceMon Nov 2 close$30.89you are here
- 52-wk highhighest close, 1 year$44.07+42.7%
Momentum & 52-week range
RSI 57 · 5 days −3.5%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
CNXC is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on Concentrix in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 5:14 PM ET.
Compare with peers
Closest in size in Software
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.