Concentrix Corporation
- Open
- 26.11
- Day high
- 26.11
- Day low
- 24.36
- Prev close
- 25.62
- Volume
- 1.1M
- Mkt cap
- $1.5B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.6
- P/S
- 0.1
- Yield
- 5.78%
- Per share
- $1.41
- ▼Insiders net selling -$133.5M over the last 3 months (1 open-market buy, 1 sale)
- 🏛Institutions mixed (13F)
Concentrix Corporation (CNXC) is a Technology company listed on NASDAQ. The stock is down 58% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 1 sale (SEC Form 4). Drillr has 3 published research articles covering CNXC.
Concentrix Corporation (CNXC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CNXC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 29, 2026 | $2.64 | $2.63 | -0.4% | $2.5B | -0.4% |
| Mar 24, 2026 | $2.64 | $2.61 | -1.1% | $2.5B | +0.3% |
| Sep 25, 2025 | $2.88 | $2.78 | -3.5% | $2.5B | +0.9% |
| Jun 26, 2025 | $2.76 | $2.70 | -2.2% | $2.4B | +1.5% |
| Mar 26, 2025 | $2.58 | $2.79 | +8.1% | $2.4B | +0.3% |
| Sep 25, 2024 | $2.90 | $2.87 | -1.0% | $2.4B | +0.3% |
| Jan 24, 2024 | $3.09 | $3.36 | +8.7% | $2.2B | +1.3% |
| Jan 19, 2023 | $3.33 | $3.01 | -9.6% | $1.6B | -2.6% |
| Jan 18, 2022 | $2.71 | $2.99 | +10.3% | $1.5B | -4.4% |
| Jun 23, 2021 | $2.26 | $2.37 | +4.9% | $1.4B | +15.5% |
| Mar 24, 2021 | $2.03 | $2.29 | +12.8% | $1.4B | +9.3% |
| Oct 13, 2020 | — | $0.88 | — | $1.2B | — |
CNXC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 9, 2026 | Caldwell Christopher Adirector, officer: President and CEO | Buy | 1,000 | $21.25 |
| May 1, 2026 | Groupe Bruxelles Lambert10 percent owner | Sell | 6,000,000 | $22.25 |
| Apr 9, 2026 | Valentine Andre Sofficer: Chief Financial Officer | Buy | 2,500 | $27.95 |
| Mar 30, 2026 | Caldwell Christopher Adirector, officer: President and CEO | Buy | 1,000 | $26.97 |
| Mar 27, 2026 | POLK DENNISdirector | Grant | 7,701 | — |
| Mar 27, 2026 | Cheng Chih-Kaidirector | Grant | 7,701 | — |
| Mar 27, 2026 | Marinello Kathryn Vdirector | Grant | 7,701 | — |
| Mar 27, 2026 | Hayley Kathryndirector | Grant | 7,701 | — |
| Mar 27, 2026 | VEZINA ANN Fdirector | Grant | 7,701 | — |
| Mar 27, 2026 | Council LaVerne Hdirector | Grant | 7,701 | — |
| Mar 27, 2026 | Deason Jenniferdirector | Grant | 7,701 | — |
| Mar 27, 2026 | OGUT BILGEdirector | Grant | 7,701 | — |
| Feb 3, 2026 | Twomey Cormac Jofficer: EVP, Global Ops & Delivery | Tax | 1,439 | $37.35 |
| Feb 3, 2026 | Fogarty Janeofficer: EVP, Legal | Tax | 563 | $37.35 |
| Feb 3, 2026 | Gibson Craigofficer: EVP, Global Sales, Acct Mgmt | Tax | 799 | $37.35 |
Source: CNXC SEC Form 4 filings, latest Jul 9, 2026. For informational purposes only — not investment advice.
See the full CNXC insider & 13F page →CNXC research & analysis
AI Agents vs. Human Contact Centers: Mapping the Winners and Losers Across a $500B Market
AI agents are restructuring the $500B contact center market, creating clear winners (cloud platform vendors like NICE, Five9, and Salesforce) and losers (BPO operators like Concentrix and TTEC whose human-labor model is under structural assault). NICE leads on profitability and AI product maturity at an undemanding valuation; TTEC and Concentrix face secular headcount displacement with limited credible AI pivots.
NICEFIVNCRMCan Contact Center BPOs Pivot to AI Services Before Volume Erosion Becomes Structural?
AI agents are automating the routine interactions that have supported BPO headcount models for decades, with Salesforce AgentForce and NICE Enlighten now deployed at enterprise scale. Among legacy BPOs, Concentrix and TTEC show acute financial distress from volume erosion and leverage, while TaskUs offers the most credible pivot into AI services — trading at just 7x forward earnings despite 19% revenue growth. NICE remains the highest-conviction CCaaS infrastructure play as contact centers modernize.
TTECTASKNICEHow Fast Is AI Agent Adoption Eroding BPO Contract Volumes at Concentrix and TTEC?
AI agent adoption is creating measurable, differentiated damage across the BPO and contact center software sector. Concentrix and TTEC have each taken multiple goodwill impairments signaling permanent franchise devaluation, LivePerson's revenue is collapsing 23% annually as its conversational AI middleware is displaced by native platform integrations, while TaskUs is the structural outlier — growing 19% TTM by pivoting to AI training services that benefit from the same AI wave threatening its peers.
TTECLPSNTASK
Concentrix Corporation company profile
Overview
Concentrix Corporation (NASDAQ:CNXC) is a global technology-enabled customer experience solutions provider founded in 2009 and headquartered in Fremont, California. The company went public in November 2020 following a spin-off from SYNNEX Corporation. Concentrix has grown significantly through strategic acquisitions, most notably the transformative combination with Webhelp in 2023, which nearly doubled its revenue to approximately $9.6 billion on a pro forma basis. Today, the company operates as one of the world's largest providers of customer experience outsourcing services, serving clients across multiple industries with a global workforce spanning onshore, nearshore, and offshore delivery centers.
Business
Concentrix operates in the customer experience (CX) outsourcing industry, providing technology-infused solutions that help companies manage their customer interactions and business processes. The company essentially acts as an external service provider that handles customer service, technical support, sales, and back-office operations for other businesses. The core offering revolves around Business Process Outsourcing (BPO) services enhanced with artificial intelligence and digital technologies. When a customer calls a bank's customer service line, chats with an e-commerce company's support team, or receives technical assistance for a consumer electronics product, there's a good chance they're actually interacting with Concentrix employees rather than the brand's direct staff. The company manages these interactions through contact centers, digital channels, and automated systems. Concentrix serves multiple industry verticals with varying growth trajectories: 1. Retail, Travel, and E-commerce (approximately 25-30% of revenue): Handles customer service, order management, and digital commerce support for online retailers and travel companies. This segment has shown strong growth, particularly benefiting from the digital commerce boom. 2. Banking, Financial Services, and Insurance (BFSI) (approximately 20-25% of revenue): Provides specialized services including fraud management, anti-money laundering, payment processing support, and customer onboarding for financial institutions. 3. Technology and Consumer Electronics (approximately 20-25% of revenue): Offers technical support, warranty services, and customer care for technology companies and device manufacturers. 4. Healthcare (approximately 10-15% of revenue): Manages patient services, insurance processing, and regulatory compliance support for healthcare organizations. 5. Communications and Media (approximately 10-15% of revenue): Provides customer service and technical support for telecommunications and media companies. The company has been strategically reducing its exposure to low-complexity, high-volume transactional work (reduced from 13% to 7% of revenue) while expanding higher-value services including AI-powered solutions, analytics, and digital transformation services.
Revenue model
Concentrix generates revenue primarily through service fees charged to clients for managing their customer experience operations. The business model operates on several pricing structures including per-transaction fees, per-agent hourly rates, and outcome-based pricing depending on the service complexity and client requirements. The company's customers are primarily large enterprises and mid-market companies across various industries who prefer to outsource their customer service operations rather than manage them internally. These clients pay Concentrix to handle their customer interactions, allowing them to focus on their core business activities while potentially reducing costs and accessing specialized expertise. Revenue generation is enhanced through several key factors: Geographic arbitrage plays a significant role in profitability, with the company operating a mixed delivery model: 43% onshore (higher-cost locations like North America and Europe), 30% offshore (lower-cost locations like India and Philippines), and 27% nearshore (mid-cost locations like Latin America and Eastern Europe). This allows Concentrix to offer competitive pricing while maintaining healthy margins. Technology integration and AI deployment increasingly drives margin expansion. The company has invested approximately $100 million annually in generative AI development and has deployed AI solutions across hundreds of thousands of desktops. These AI tools improve agent productivity, reduce training time, and enable handling of more complex queries, allowing the company to charge premium rates for enhanced services. Scale economies benefit margins as the company leverages its global infrastructure across multiple clients. Larger contracts and vendor consolidation opportunities allow for better resource utilization and cost absorption. Several factors can impact margins positively or negatively: Margin expansion drivers include successful client transitions to offshore locations, AI-enabled productivity improvements, integration synergies from acquisitions (targeting $120 million from the Webhelp integration), and the shift toward higher-value services like digital transformation and analytics. Margin pressure factors include wage inflation in key delivery markets, client resistance to offshore transitions, increased competition from other BPO providers and in-house solutions, currency fluctuations affecting offshore operations, and the ongoing investment required in AI and technology development to maintain competitive positioning.
Competitive moat
Concentrix operates in a moderately competitive industry with limited sustainable competitive advantages, though the company has built several defensive positions that provide some protection against competitors. The company's primary moat comes from client switching costs and relationship depth. Once Concentrix integrates with a client's systems, trains agents on specific processes, and develops domain expertise, clients face significant switching costs including retraining, system integration, and service disruption risks. Long-term contracts (typically 3-5 years) and the mission-critical nature of customer service operations create additional stickiness. Scale advantages provide some competitive protection. As one of the largest players in the industry, Concentrix can invest more heavily in technology development, maintain global delivery capabilities, and offer competitive pricing through economies of scale. The company's ability to deploy AI solutions across hundreds of thousands of desktops and invest $100 million annually in generative AI development demonstrates this scale advantage. Geographic diversification and delivery model flexibility offers another layer of competitive positioning. The company's balanced mix of onshore, nearshore, and offshore capabilities allows it to serve clients with varying cost and quality requirements while providing operational resilience. However, the moat is relatively weak due to several vulnerabilities: Commoditization pressure remains significant, particularly in lower-complexity services. Many BPO services are becoming increasingly standardized, making it easier for clients to switch providers or bring operations in-house. Technology disruption poses both opportunity and threat. While Concentrix is investing heavily in AI, the same technologies could eventually enable clients to automate many customer service functions internally, potentially reducing demand for outsourced services. Competition intensity is high with numerous global and regional players including Teleperformance, Alorica, and emerging offshore competitors. The industry has low barriers to entry for basic services, though higher-value services require more significant investment. Client concentration risk exists with large clients potentially representing significant revenue portions, giving them negotiating leverage and creating vulnerability if major contracts are lost. The company's best defense lies in continuously moving up the value chain toward more complex, technology-enabled services where domain expertise and integration depth create stronger competitive positions.
Risks & safety
Concentrix presents moderate financial risk with some leverage concerns but generally stable cash generation capabilities. **Debt and Solvency:** - Net leverage ratio of approximately 2.6x EBITDA following the Webhelp acquisition - Total debt-to-equity ratio of 1.17x as of Q1 2025 - Management committed to reducing leverage to approximately 2x within two years - Strong free cash flow generation of $429 million in fiscal 2024 supports debt service **Cash Position:** - Cash and short-term investments of $308 million as of Q1 2025 - Operating cash flow turned slightly positive at $1.4 million in Q1 2025 (concerning trend) - Free cash flow negative $49 million in Q1 2025, showing working capital pressures - Current ratio of 1.65x provides adequate liquidity cushion **Valuation Metrics:** - P/E ratio of 10.3x appears reasonable for current growth profile - EV/EBITDA of 11.1x reflects moderate valuation - Price-to-book ratio of 0.72x suggests potential undervaluation - Graham number of $39.43 compared to current price of $48.27 indicates modest overvaluation by conservative metrics **Other Considerations:** - Cyclical business model vulnerable to economic downturns - Integration risks from large acquisitions - Currency exposure from global operations - Heavy dependence on labor costs and wage inflation pressures
Recent development
Over the past few years, Concentrix has undergone significant strategic transformation focused on AI integration, acquisition-driven growth, and service portfolio enhancement. The most significant development was the transformative combination with Webhelp in 2023, which nearly doubled the company's revenue to approximately $9.6 billion on a pro forma basis. This acquisition expanded Concentrix's geographic footprint, particularly in Europe, Latin America, and Africa, while adding specialized capabilities in financial services including anti-money laundering, fraud management, and payment services. Management is targeting $75 million in first-year synergies growing to $120 million by year three. Artificial Intelligence has become central to the company's strategy, with approximately $100 million in annual investment in generative AI development. The company has deployed AI solutions across nearly 50% of its client base and hundreds of thousands of desktops. Key AI initiatives include the launch of iX Hello, the first product in their Intelligent Experience Technology Suite, and the development of GILES, an AI coding and testing platform for which they've filed patents. Management expects AI solutions to be earnings-accretive by the end of fiscal 2025. The company has strategically shifted its service mix toward higher-value offerings, reducing low-complexity transactional work from 13% to 7% of revenue while expanding digital transformation, analytics, and AI-powered services. This includes the growth of their Catalyst business and other solution areas that didn't exist 24 months prior but now generate nearly $1 billion in revenue. Geographic optimization continues with increased offshore delivery to help clients achieve cost savings, though this creates temporary margin pressure during transition periods due to dual cost structures. Recent quarters have shown strong contract bookings momentum, particularly in Asia Pacific, Europe, and North America, with the company winning approximately 80% of client consolidation opportunities. Management has also been selective about contract renewals, walking away from low-margin commodity business to focus on transformational deals that leverage their technology capabilities.
CNXC company profile · for informational purposes only — not investment advice.
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