olivLaw · US equity research
Concentrix Corporation CNXC
Services-Business Services, NEC · SIC 7389 · Vertical: Services-Business Services, NEC (SIC 7389)
Concentrix is a global provider of customer experience services and digital operations that combines human service with AI-based solutions for more than 2,000 clients. In its third quarter of fiscal 2026 the company booked a non-cash goodwill impairment of 1,050.0 million USD, while quarterly revenue edged down, showing the tension between its traditional business and new AI-led services.
At the close of 04 Nov 2026, Concentrix Corporation (CNXC) stock was 30.93 USD (+6.69% on the day), with market capitalisation 1.9 bn USD, dividend yield 4.89%, beta 0.94, 52-week range 20.97–44.07 USD. Latest reported quarter (Q3 2026): revenue of 2.5 bn USD (−1.2% YoY), net income of -988.1 m USD (−1,221.5% YoY), diluted EPS -16.24 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 55.8
- strong (55–70)
- Bollinger (20, 2)
- 24.74 – 33.99
- in the upper half of the band · %B 0.67 · band width 31.5%
- SMA 50 / 200
- 28.71 / 28.33
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.85 / 0.88
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +19.6% | −1.1% | +20.7 pp | — |
| 3 months | +18.7% | −0.5% | +19.1 pp | — |
| 6 months | +30.4% | +4.4% | +26.0 pp | — |
| Year to date | −25.6% | +12.3% | −37.9 pp | — |
| 1 year | −20.7% | +13.5% | −34.2 pp | −4.0% |
| 3 years | −62.0% | +76.4% | −138.4 pp | +2.0% |
| 5 years | −82.4% | +63.7% | −146.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 31 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.4 bn | 2.4 bn | 2.4 bn | 2.5 bn | 2.6 bn | 2.5 bn | 2.5 bn | 2.5 bn |
| Cost of revenue | 1.6 bn | 1.5 bn | 1.6 bn | 1.6 bn | 1.7 bn | 1.7 bn | 1.6 bn | 1.6 bn |
| Gross profit | 870.6 m | 855.9 m | 848.1 m | 855.0 m | 876.0 m | 849.7 m | 823.3 m | 848.9 m |
| SG&A | 726.1 m | 687.0 m | 699.8 m | 708.0 m | 730.6 m | 731.1 m | 727.9 m | 709.2 m |
| Operating income | 144.5 m | 168.9 m | 148.3 m | 147.0 m | -1.4 bn | 118.6 m | 95.4 m | -910.3 m |
| Interest expense | 76.1 m | 73.0 m | 75.4 m | 72.0 m | 69.9 m | 75.3 m | 68.1 m | 64.9 m |
| Pre-tax income | 112.9 m | 100.8 m | 51.7 m | 111.4 m | -1.4 bn | 28.7 m | 69.5 m | -979.8 m |
| Income tax | -2.7 m | 30.5 m | 9.6 m | 23.3 m | 33.2 m | 7.1 m | 14.2 m | 8.3 m |
| Net income | 115.7 m | 70.3 m | 42.1 m | 88.1 m | -1.5 bn | 21.6 m | 55.3 m | -988.1 m |
| Diluted EPS | 1.80 ≈ | 1.04 | 0.63 | 1.34 | -23.90 ≈ | 0.33 | 0.86 | -16.24 |
| Operating cash flow | 284.4 m | 1.4 m | 236.5 m ≈ | 224.8 m ≈ | 344.2 m | -83.2 m | 257.9 m ≈ | 268.2 m ≈ |
| Capex | 59.9 m | 50.6 m | 55.8 m ≈ | 65.1 m ≈ | 63.0 m | 53.9 m | 48.2 m ≈ | 47.0 m ≈ |
| Dividends paid | 22.6 m | 22.4 m | 22.1 m ≈ | 21.9 m ≈ | 23.2 m | 23.1 m | 23.1 m ≈ | 23.0 m ≈ |
| Share repurchases | 34.5 m | 25.8 m | 45.3 m ≈ | 41.6 m ≈ | 55.9 m | 43.2 m | 0 ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 4.7 bn | 4.7 bn | 5.6 bn | 6.3 bn | 7.1 bn | 9.6 bn | 9.8 bn |
| Revenue YoY | unavailable | +0.2% | +18.4% | +13.2% | +12.5% | +35.2% | +2.2% |
| Net income | 117.2 m | 164.8 m | 405.6 m | 435.0 m | 313.8 m | 251.2 m | -1.3 bn |
| Net income YoY | unavailable | +40.7% | +146.1% | +7.3% | −27.9% | −20.0% | −609.1% |
| Diluted EPS | 2.27 | 3.19 | 7.70 | 8.28 | 5.70 | 3.71 | -20.36 |
| Diluted EPS YoY | unavailable | +40.5% | +141.4% | +7.5% | −31.2% | −34.9% | −648.8% |
| net % | 2.5% | 3.5% | 7.3% | 6.9% | 4.4% | 2.6% | -13.0% |
| Free cash flow | 338.6 m | 336.3 m | 365.1 m | 460.7 m | 497.5 m | 428.7 m | 572.5 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 30 Nov 2025
- Cash
- 327.3 m USD
- Financial debt
- 4.6 bn USD
- Net debt
- 4.3 bn USD
- Equity
- 2.7 bn USD
- Total assets
- 10.8 bn USD
- Debt / equity
- 1.69x
- Current ratio
- 1.40x
- ROE
- -37.7%
- ROA
- -11.2%
- FCF margin
- 5.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 4.7 bn | 5.6 bn | 6.3 bn | 7.1 bn | 9.6 bn | 9.8 bn | SEC (XBRL)· 28 Jan 2026verified |
| Cost of revenue | 3.1 bn | 3.6 bn | 4.1 bn | 4.5 bn | 6.2 bn | 6.4 bn | SEC (XBRL)· 28 Jan 2026verified |
| Gross profit | 1.7 bn | 2.0 bn | 2.3 bn | 2.6 bn | 3.4 bn | 3.4 bn | SEC (XBRL)· 28 Jan 2026verified |
| SG&A | 1.4 bn | 1.4 bn | 1.6 bn | 1.9 bn | 2.9 bn | 2.8 bn | SEC (XBRL)· 28 Jan 2026verified |
| Operating income | 308.8 m | 572.4 m | 640.2 m | 661.3 m | 596.4 m | -918.2 m | SEC (XBRL)· 28 Jan 2026verified |
| Interest expense | 48.3 m | 23.0 m | 70.1 m | 201.0 m | 321.8 m | 290.3 m | SEC (XBRL)· 28 Jan 2026verified |
| Pre-tax income | 267.9 m | 555.7 m | 605.0 m | 408.2 m | 299.3 m | -1.2 bn | SEC (XBRL)· 28 Jan 2026verified |
| Income tax | 103.1 m | 150.1 m | 169.4 m | 94.4 m | 48.1 m | 96.7 m | SEC (XBRL)· 28 Jan 2026verified |
| Net income | 164.8 m | 405.6 m | 435.0 m | 313.8 m | 251.2 m | -1.3 bn | SEC (XBRL)· 28 Jan 2026verified |
| Diluted EPS | 3.19 | 7.70 | 8.28 | 5.70 | 3.71 | -20.36 | SEC (XBRL)· 28 Jan 2026verified |
| Weighted average diluted shares | 51.6 m | 51.9 m | 51.7 m | 54.0 m | 65.1 m | 63.0 m | SEC (XBRL)· 28 Jan 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 152.7 m | 182.0 m | 145.4 m | 295.3 m | 240.6 m | 327.3 m | SEC (XBRL)· 28 Jan 2026verified |
| Receivables | 1.1 bn | 1.2 bn | 1.4 bn | 1.9 bn | 1.9 bn | 2.0 bn | SEC (XBRL)· 28 Jan 2026verified |
| Current assets | 1.4 bn | 1.5 bn | 1.8 bn | 2.9 bn | 2.8 bn | 3.1 bn | SEC (XBRL)· 28 Jan 2026verified |
| Property, plant & equipment, net | 451.6 m | 407.1 m | 403.8 m | 748.7 m | 714.5 m | 735.6 m | SEC (XBRL)· 28 Jan 2026verified |
| Goodwill | 1.8 bn | 1.8 bn | 2.9 bn | 5.1 bn | 5.0 bn | 3.7 bn | SEC (XBRL)· 28 Jan 2026verified |
| Intangibles (excl. goodwill) | 799.0 m | 655.5 m | 985.6 m | 2.8 bn | 2.3 bn | 2.0 bn | SEC (XBRL)· 28 Jan 2026verified |
| Total assets | 5.2 bn | 5.0 bn | 6.7 bn | 12.5 bn | 12.0 bn | 10.8 bn | SEC (XBRL)· 28 Jan 2026verified |
| Accounts payable | 140.6 m | 129.4 m | 161.2 m | 243.6 m | 209.8 m | 244.8 m | SEC (XBRL)· 28 Jan 2026verified |
| Short-term debt | 33.8 m | 0 | 0 | 2.3 m | 2.5 m | 65.6 m | SEC (XBRL)· 28 Jan 2026verified |
| Long-term debt | 1.1 bn | 802.0 m | 2.2 bn | 4.9 bn | 4.7 bn | 4.6 bn | SEC (XBRL)· 28 Jan 2026verified |
| Current liabilities | 1.0 bn | 968.2 m | 1.1 bn | 2.1 bn | 2.0 bn | 2.2 bn | SEC (XBRL)· 28 Jan 2026verified |
| Total liabilities | 2.9 bn | 2.4 bn | 4.0 bn | 8.3 bn | 8.0 bn | 8.0 bn | SEC (XBRL)· 28 Jan 2026verified |
| Equity | 2.3 bn † | 2.6 bn † | 2.7 bn † | 4.1 bn † | 4.0 bn † | 2.7 bn † | SEC (XBRL)· 28 Jan 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 507.6 m | 514.2 m | 600.7 m | 678.0 m | 667.5 m | 807.0 m | SEC (XBRL)· 28 Jan 2026verified |
| Capex | 171.3 m | 149.1 m | 140.0 m | 180.5 m | 238.8 m | 234.5 m | SEC (XBRL)· 28 Jan 2026verified |
| Free cash flow | 336.3 m ≈ | 365.1 m ≈ | 460.7 m ≈ | 497.5 m ≈ | 428.7 m ≈ | 572.5 m ≈ | SEC (XBRL)· 28 Jan 2026derived |
| Investing cash flow | -109.2 m | -78.7 m | -1.8 bn | -2.1 bn | -244.3 m | -250.4 m | SEC (XBRL)· 28 Jan 2026verified |
| Financing cash flow | -335.2 m | -401.9 m | 1.2 bn | 1.8 bn | -492.5 m | -491.4 m | SEC (XBRL)· 28 Jan 2026verified |
| Dividends paid | 0 | 13.1 m | 53.4 m | 63.5 m | 83.8 m | 89.6 m | SEC (XBRL)· 28 Jan 2026verified |
| Share repurchases | 0 | 25.1 m | 120.8 m | 64.0 m | 136.1 m | 168.7 m | SEC (XBRL)· 28 Jan 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.9 bn USD
Key indicators
Coverage and freshness
Score by group
54% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 274.82 – 694.57 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)274.82 – 694.57 (Mid 402.56)WACC 6.3% · starting FCFF 808.7 m USD · terminal value share of EV 84%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -23.7% | 9 (vs peers) | 19% |
| Net margin · Quality | -24.0% | 15 (vs peers) | 12% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 15.8% | 100 (on a fixed band) | 15% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -7.5x | 0 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 1.2x | 36 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 30.4% | 100 (on a fixed band) | 15% |
| Shareholder yield (distributions) · Returns | 10.1% | 100 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 16.1% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet14/100 · 2/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality11/100 · 2/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation· partial100/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Concentrix Corporation (CNXC). Latest full fiscal year: 2025; data up to 2026-08-31.
Figures computed from the financial statements: revenue 9.8 bn USD in 2025; YoY growth 2.2%; net margin -24.0%; ROE -78.2%.
The estimated value range is 274.82–694.57 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 402.56 USD, the price of 30.93 USD leaves a potential of 1,201.5% (value / price − 1) and a margin of safety of 92.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 15.8%
- FCF yield: 30.4%
- Shareholder yield (distributions): 10.1%
- Payout ratio (FCF): 16.1%
- The price is below the estimated value range
What contradicts it
- ROIC: -23.7%
- Net margin: -24.0%
- Interest coverage: -7.5x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA.
Versus the vertical median
Services-Business Services, NEC (SIC 7389) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BABAAlibaba Group Holding Ltd | 195.6 bn | 131.6 | 10.3% | 10.1% | +8.1% | −33% / +41% |
| UBERUber Technologies, Inc. | 142.7 bn | 41.3 | 12.4% | 6.1% | +18.3% | −20% / +24% |
| MELIMercadoLibre, Inc. | 88.2 bn | 47.3 | 27.5% | 5.3% | +39.1% | −16% / +7% |
| EBAYeBay Inc. | 54.9 bn | 27.2 | 46.6% | 16.9% | +7.9% | +51% / +205% |
| PYPLPayPal Holdings, Inc. | 50.0 bn | 11.5 | 23.8% | 13.8% | +4.3% | −4% / +4% |
| MSCIMsci Inc. | 48.2 bn | 35.7 | — | 40.3% | +9.7% | +20% / +29% |
| FISVFiserv, Inc. | 33.0 bn | — | -17.0% | -18.9% | +3.6% | +1% / −52% |
| CPAYCorpay, Inc | 27.5 bn | 25.4 | 30.5% | 22.7% | +13.9% | +42% / +74% |
| GPNGlobal Payments Inc. | 25.4 bn | — | -4.1% | -9.1% | −0.4% | +27% / −17% |
| BRBroadridge Financial Solutions, Inc. | 21.4 bn | 20.9 | 40.2% | 13.9% | +8.5% | −17% / −2% |
| RBARB Global, Inc | 17.6 bn | 39.9 | 8.8% | 10.0% | +7.2% | −3% / +49% |
| FISFidelity National Information Services, Inc. | 15.3 bn | 4.4 | 23.0% | 26.8% | +5.4% | −55% / −49% |
| FICOFair Isaac Corp | 15.1 bn | 20.3 | — | 34.1% | +15.9% | −61% / −36% |
| CSGPCoStar Group, Inc. | 13.1 bn | 74.3 | 2.2% | 4.9% | +18.7% | −53% / −61% |
| HQYHealthequity, Inc. | 9.0 bn | 39.4 | 11.4% | 17.4% | +9.5% | +3% / +62% |
| WEXWEX Inc. | 5.9 bn | 15.5 | 35.6% | 14.0% | +1.2% | +21% / +2% |
| ALITAlight, Inc. | 5.7 bn | — | -67.9% | -46.0% | −3.0% | −72% / −92% |
| XMTRXometry, Inc. | 5.2 bn | — | -3.9% | -2.0% | +25.9% | +94% / +364% |
| CBZCBIZ, Inc. | 3.0 bn | 25.8 | 6.8% | 4.6% | +52.1% | −0% / +6% |
| FLYWFlywire Corporation | 2.7 bn | 36.3 | 9.1% | 10.3% | +26.6% | +56% / −6% |
| AHGAkso Health Group | 2.2 bn | 133.0 | -9.8% | -135.0% | −6.4% | −11% / +56% |
| CNXCConcentrix Corporation | 1.9 bn | — | -78.2% | -24.0% | +2.2% | −21% / −62% |
| PAYSPaysign, Inc. | 863.9 m | 58.4 | 30.8% | 15.7% | +40.5% | +194% / +551% |
| PHRPhreesia, Inc. | 818.1 m | 77.1 | 3.1% | 2.1% | +14.5% | −36% / −14% |
| CASSCass Information Systems, Inc. | 704.1 m | 18.9 | 16.3% | 18.9% | +5.3% | +31% / +33% |
1- and 3-year price returns: for CNXC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Concentrix is a global provider of customer experience services and digital operations that combines human service with AI-based solutions for more than 2,000 clients 1. In its third quarter of fiscal 2026 the company booked a non-cash goodwill impairment of 1,050.0 million USD 3, while quarterly revenue edged down, showing the tension between its traditional business and new AI-led services.
SWOT
Strengths
Weaknesses
- Slight revenue decline both as reported and at constant currency in the third quarter of fiscal 2026 3.
- Heavy dependence on personnel, with high turnover and delivery costs sensitive to local markets 12.
- Large goodwill impairment in the third quarter, linked to the trading range of the share price and market capitalisation 3.
Opportunities
Risks
- Goodwill impairmenthigh
The company booked a large non-cash impairment in the third quarter linked to the share price and market capitalisation, and further impairments could follow if conditions weaken 13.
- Cybersecurityhigh
Attacks on the company's or its clients' networks could cause disruption, data loss and legal liability 1.
- Replacement of services by AImedium
If clients' AI tools replace staff-delivered services faster than new services grow, revenue and margins could decline 1.
- Exposure to countries with political and climate riskmedium
Concentration of operations in several countries exposes the company to political instability, natural disasters and currency volatility 1.
- Staff turnover and labour costslow
High turnover and rising wages can increase costs and reduce productivity 12.
Investment thesis
What would need to be true (bull case)
- If revenue from AI-related business keeps growing, adjusted margins could improve in coming quarters 3.
- Cash generation reported in the third quarter could support dividends and buybacks if the trend holds 3.
- Long relationships with large clients and an integrated portfolio could help win contracts as the market consolidates 1.
What would break the thesis
- Reported revenue fell in the third quarter, and guidance for the fourth quarter points to further constant-currency decline 3.
- The goodwill impairment suggests the book value of the business could be overstated if demand does not recover 13.
- Automation and clients' AI tools could shrink traditional service volumes faster than new services grow 1.
What to watch
- Fourth-quarter results and delivery against guidance for reported revenue and non-GAAP operating incomeQ4 2026
- Trajectory of the share of revenue from AI-related business reported by management2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Concentrix describes its business as a blend of technology and services, designing, building and running integrated solutions across the full client lifecycle, from acquisition and support to renewal 1. The portfolio covers strategy and design, data analytics, enterprise technology and digital operations, plus the iX Hello and iX Hero products that use generative and agentic AI 1. It serves clients in five primary verticals, including technology, retail, communications, financial services and healthcare 1.
Growth has relied on acquisitions, including Webhelp in September 2023 and SAI Digital in September 2025 1. For fiscal 2026 the company guided to reported revenue of 9.827 billion USD to 9.877 billion USD 3. On profitability, non-GAAP operating income was 309.0 million USD in the third quarter 3.
Segments
Digital operations and CX services
This segment covers B2B sales, marketing, customer support, trust and safety, and financial compliance, and is the part most tied to traditional contact volumes 1. The company says automation is reducing voice-channel volumes, which could weigh on this segment unless offset by newer services 1.
Technology, data and AI services
This area includes data analytics, deployment of generative and agentic AI, and the Agentic Operating Framework launched in September 2025 1. Management says a growing share of revenue comes from newer AI-related business, which could support long-term margins if the trend holds 3.
Market context
Trends
- Generative and agentic AImixed
Automation and AI are reducing volumes of lower-complexity work but creating demand for deploying and running new solutions 1. The risk is that some tasks performed by staff could be replaced by client-side tools, which could reduce revenue 1.
- Vendor consolidationtailwind
Large clients prefer vendors with scale and end-to-end capabilities, which favours global providers in multi-country contracts 1. The same trend could reduce the number of contracts open to smaller vendors and intensify price pressure 1.
- Macroeconomic and trade pressuresheadwind
Tariffs, geopolitical tensions and currency swings can change client budgets and delivery costs in countries with heavy concentration of operations 12. These pressures could weigh on demand and margins if they persist 1.
- Labour and wage costsheadwind
Local labour markets are competitive and wage costs can rise, feeding directly into delivery costs 1. High staff turnover can also lower operating efficiency 2.
Competitive position
Competitors include global integrated CX providers, core CX solution providers, digital IT services firms and other providers of complementary services such as consulting, data analytics and business process services 1. The market is so dispersed that no provider holds a significant share 1.
According to its own sources, the company's strengths are global scale, local reach, long relationships with large clients and recognition from industry analysts 1. Price and labour-cost pressure from competitors remains a constant factor 1.
- Global integrated CX providers
Companies offering comparable end-to-end solutions, grouped as global integrated providers in the company's competitive description 1
- Digital IT services providers
Competitors in digital IT services that overlap with the company's technology and data offering 1
- Business process and data analytics providers
Firms with complementary consulting, data and automation services that can compete on specific projects 1
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Concentrix Catalyst, fosta PitechPlus din Cluj, a revenit pe profit în 2025Ziarul Financiar · 30 Oct 2026 · RO
- Marius Munteanu, senior director, transformation & AI enablement, Concentrix: Românii sunt încă utilizatori ocazionali de AI, iar un asistent lansat într-o piaţă nepregătită are o rată mai mare de abandon. „Nu vă aşteptaţi la miracole. Va trata poate 5% din toate volumele faţă de ce vi s-a spus că se va întâmpla“Ziarul Financiar · 14 Oct 2026 · RO
- Concentrix (CNXC): Can AI Turnaround This Cheap Customer Experience Stock?Yahoo Finance — News · 01 Sept 2026 · EN
- Concentrix Slides on Outlook; AeroVironment Jumps on Earnings | Stock MoversBloomberg Markets · 30 Jun 2026 · EN
The latest news item in our archive is from 30 Oct 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report03 Nov 2026Departure or appointment of officers
- Quarterly report07 Oct 2026
- Current report29 Sept 2026Results of operations · Financial statements and exhibits
- Current report18 Sept 2026Departure or appointment of officers
- Current report24 Jul 2026Departure or appointment of officers · Financial statements and exhibits
- Quarterly report02 Jul 2026
- Current report29 Jun 2026Results of operations · Financial statements and exhibits
- Current report01 May 2026Departure or appointment of officers
- Quarterly report03 Apr 2026
- Current report27 Mar 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-11-30 · SEC / Concentrix Corporation · 28 Jan 2026
- [2] Form 10-Q, quarter ended 2026-08-31 · SEC / Concentrix Corporation · 07 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Concentrix Corporation · 29 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.