At a glance
Concentrix Corporation is worth $1.87B. Revenue grew 2.2% to $9.83B in fiscal 2025, at a loss; over 5 years it has grown 15.8% a year. It pays a 4.75% dividend yield, raised every year for at least 4 years, and returned $818.1M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −29.2% over the past year with dividends reinvested and −27.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 46.5% in the 2022 bear market (S&P 500: 24.5%), and is still below its earlier high.
The business in plain English
Companies pay Concentrix to run their customer service and other operations. When someone calls, chats with or emails a bank, phone maker or online retailer, the person or AI assistant who answers may be supplied by Concentrix. It also handles sales, marketing, collections and back-office work, and it consults on data, AI and technology. As of November 30, 2025, more than 160 Fortune Global 500 companies were among its more than 2,000 clients.
Its five main client industries are technology and consumer electronics; retail, travel and e-commerce; communications and media; banking, financial services and insurance; and healthcare. Its 30 largest clients have stayed 16 years on average. About 455,000 employees and staff work in about 483 locations across 74 countries. The company is adding AI products, such as its iX suite launched in September 2024. The suite includes an AI assistant and a tool that coaches human agents during calls.
Revenue was $9.83 billion in fiscal 2025 (the year ended November 30, 2025), up 2.2%. The company has grown largely through acquisitions, most notably Webhelp in September 2023. Revenue jumped from $7.11 billion in fiscal 2023 to $9.62 billion in fiscal 2024. By country, the Philippines supplied 16.2% of fiscal 2025 revenue, India 11.5% and the United States 10.7%, with other countries making up the rest.
Price history
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CNXC -29.2% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By geography
| Others | $5.06B | 51.5% |
| Philippines | $1.59B | 16.2% |
| India | $1.13B | 11.5% |
| United States | $1.05B | 10.7% |
| Great Britain | $356.5M | 3.6% |
| Germany | $334.3M | 3.4% |
| Canada | $302.1M | 3.1% |
Latest results
- In Q3 FY2026 (ended Aug 31, 2026), revenue was $2.45B, down 1.2% from a year earlier, and net income was $-988.1M (-1221.5%).
- For fiscal 2025, revenue was $9.83B (+2.2% year over year; +15.8% a year from FY2020 to FY2025) with a -13% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +15.8% good |
|---|---|
| Operating margin | -9.3% weak |
| Free cash flow margin | 5.8% watch |
| Return on equity (FY2025) | -46.6% weak |
| Return on assets (FY2025) | -11.9% weak |
| Net cash (cash minus debt) | $-3.68B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $4.72B | $164.8M | $336.3M |
| FY2021 | $5.59B | $405.6M | $365.1M |
| FY2022 | $6.32B | $435.0M | $460.7M |
| FY2023 | $7.11B | $313.8M | $497.5M |
| FY2024 | $9.62B | $251.2M | $428.7M |
| FY2025 | $9.83B | $-1.28B | $572.5M |
Valuation snapshot
| Market value | $1.87B |
|---|---|
| P/E ratio | — |
| Dividend yield | 4.75% |
Rank among 1514 US companies
Market value at each year end
Concentrix’s market value went from $9.35B at the end of 2021 to $1.87B on Oct 28, 2026, down 80%; since the end of 2025 it is down 28%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $1.87B | -27.9% |
| 2025 | $2.59B | -7.7% |
| 2024 | $2.80B | -57.1% |
| 2023 | $6.54B | -4.9% |
| 2022 | $6.88B | -26.4% |
| 2021 | $9.35B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CNXC price data to Oct 28, 2026 | -22.8% | -29.2% | -22.6% | -27.9% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -22.8% |
| 2025 | -1.4% |
| 2024 | -55.0% |
| 2023 | -25.3% |
| 2022 | -24.9% |
| 2021 | +81.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 34.2% over that stretch · deepest drop along the way 46.5%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 4 open-market purchases ($155K) and 1 sales ($133.5M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Apr 29, 2026 | Bruxelles Lambert Groupe 10% owner | sell | $133.5M |
| Apr 9, 2026 | Andre S Valentine Chief Financial Officer | buy | $70K |
| Jan 29, 2026 | Christopher A Caldwell President and CEO, Director | buy | $37K |
| Mar 26, 2026 | Christopher A Caldwell President and CEO, Director | buy | $27K |
| Jul 8, 2026 | Christopher A Caldwell President and CEO, Director | buy | $21K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 12.3% | Sep 30, 2026 |
| FMR LLC | 9.4% | Jun 30, 2026 |
| AQR Capital Management, LLC | 5.36% | Jun 30, 2026 |
| Synnex Technology International CORP | 5.3% | Sep 30, 2026 |
| Kopernik Global Investors, LLC | 5.3% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.18% | Sep 30, 2026 |
ETFs with the most weight in CNXC
| RFV Invesco S&P MidCap 400® Pure Value ETF | 4.43% |
| JSML Janus Henderson Small Cap Growth Alpha ETF | 1.7% |
| FXL First Trust Technology AlphaDEX Fund | 1.64% |
| XITK SPDR FactSet Innovative Technology ETF | 1.33% |
| MYLD Cambria Micro and SmallCap Shareholder Yield ETF | 1.19% |
| SFLO VictoryShares Small Cap Free Cash Flow ETF | 0.98% |
| CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF | 0.78% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 0.61% |
What could go wrong
- AI could reduce demand for human agents. Generative and agentic AI (software that can answer questions and act on its own) could let clients automate work they pay Concentrix's staff to do, even as the company offers its own AI tools.
- Relies on a limited number of big clients. A limited number of clients provide a significant share of revenue, and contracts include terms letting clients cancel without cause. Losing or scaling back one large client could hurt results quickly.
- Heavy debt and interest rate exposure. Total debt was $3.93 billion against $245 million of cash as of August 31, 2026. Higher interest rates raise borrowing costs, and loan terms restrict how the company can operate.
- Goodwill write-downs can hit reported profits. Goodwill, the premium paid for acquired companies above their asset values, is a significant portion of total assets. If acquisitions disappoint, write-downs can cause large reported losses without any cash leaving.
- Handles sensitive data for clients' customers. Concentrix stores and transmits personal and confidential data for clients and their customers. A cyberattack, or staff failing to follow controls, could bring lawsuits, penalties, cleanup costs and lost clients.
- Global operations and currency swings. Delivery centers are spread worldwide, and the Philippines (16.2%) and India (11.5%) were its largest revenue countries in fiscal 2025. Unrest, disasters, India–Pakistan tensions and currency moves can disrupt work or cut results.
Recent events
- Quarterly results released
- Executive or board change
- Executive or board change
- Quarterly results released
- Executive or board change
- Executive or board change; Shareholder vote results
- Quarterly results released
- Major agreement signed; New debt or financial obligation
- Major agreement signed; New debt or financial obligation
- Other company announcement
For income and retirement investors
Concentrix's dividends per share have risen every fiscal year since payments began in fiscal 2021, reaching $1.42 in fiscal 2025. The yield was 4.75% as of October 28, 2026. Dividends used 15.7% of fiscal 2025 free cash flow (cash left after running and investing in the business). But a $1.28 billion net loss meant earnings did not cover them. Buybacks (share repurchases) totaled $515 million over fiscal 2021–2025, yet the share count rose 16.8% from January 2022 to September 2026. The 10-K warns dividends are not guaranteed, and debt stood at $3.93 billion as of August 31, 2026.
In the 2022 market slump, the shares fell 46.5% from peak to low. They had not recovered as of October 28, 2026, when they were down 80% over five years. They began trading in December 2020, so there is no record for the 2008 crisis or 2020 COVID crash. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Concentrix make money?
Companies pay Concentrix to run their customer service and related operations. Its staff and AI tools answer calls, chats and emails. It also handles sales, marketing, collections and back-office work, plus data and technology consulting. Revenue was $9.83 billion in fiscal 2025, which ended November 30, 2025. Its more than 2,000 clients come mainly from technology, retail and travel, communications and media, banking and insurance, and healthcare.
Does Concentrix pay a dividend?
Yes. Dividends per share have risen every fiscal year since Concentrix began paying in fiscal 2021, reaching $1.42 in fiscal 2025. The yield was 4.75% as of October 28, 2026. The payout used 15.7% of fiscal 2025 free cash flow (cash left after running and investing in the business), but the company posted a net loss that year. Its 10-K says it cannot guarantee future dividends or their timing or amount. Debt was $3.93 billion as of August 31, 2026.
Is Concentrix profitable?
No, based on its latest reported results. Concentrix posted a net loss of $1.28 billion in fiscal 2025, a loss of $20.36 per diluted share, after earning $251 million in fiscal 2024. It lost another $988 million in the quarter ended August 31, 2026. Even so, it produced $572 million of free cash flow in fiscal 2025. Profit and cash flow can differ because some charges reduce earnings without using cash. One example is a write-down of goodwill, the premium paid for past acquisitions.
How much debt does Concentrix have?
About $3.93 billion as of August 31, 2026, against $245 million of cash and investments, for net debt of about $3.68 billion. That compares with shareholders' equity (assets minus liabilities) of $1.77 billion and a stock market value of about $1.87 billion as of October 28, 2026. The company reported new debt agreements in February and March 2026. Its 10-K warns that higher interest rates raise its borrowing costs.
Is AI a threat to Concentrix?
It could be, and the company lists it as a risk. Its 10-K flags uncertainty and disruption from generative and agentic AI (software that writes answers or completes tasks on its own). Much of its service relies on about 455,000 employees and staff, and automation could shrink the human-staffed work clients pay for. Concentrix is responding with its own AI products. These include the iX suite launched in September 2024 and an Agentic Operating Framework announced in September 2025.