A Business at a Glance
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TD SYNNEX CORP
SNX
$20.0B
Mkt Cap
$242.92
-2.03%
TD SYNNEX CORP (SNX) has a current P/E ratio of 24.4, compared to its historical median P/E of 14.5. The stock is currently considered Expensive based on its historical valuation range.
TD SYNNEX CORP (SNX) has a 5-year average return on invested capital (ROIC) of 7.6%. This is below average and may indicate limited pricing power.
TD SYNNEX CORP (SNX) has a market capitalization of $24.1B. It is classified as a large-cap stock.
Yes, TD SYNNEX CORP (SNX) pays a dividend with a trailing twelve-month yield of 0.61%. The company also returns capital through share buybacks, with a buyback yield of 2.39%.
Based on historical P/E analysis, TD SYNNEX CORP (SNX) appears expensive. The current P/E of 24.4 is 68% above its historical median of 14.5. The estimated fair value CAGR (P/E method) is 1.0%.
TD SYNNEX CORP (SNX) operates in the Wholesale-Computers & Peripheral Equipment & Software industry, within the Consumer Cyclical sector.
TD SYNNEX CORP (SNX) reported annual revenue of $62.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
TD SYNNEX is a Fortune 100 global distributor and solutions aggregator for the IT ecosystem, serving as a critical intermediary between technology vendors and resellers and retail customers. The company operates through three geographic segments—Americas, Europe, and Asia-Pacific and Japan—and offers a comprehensive catalog of over 200,000 technology products from approximately 2,500 OEMs, organized into two primary portfolios: Endpoint Solutions (personal computing devices, mobile phones, accessories, and printers) and Advanced Solutions (data center technologies including hybrid cloud, security, storage, networking, servers, software, and hyperscale computing infrastructure via its Hyve business). The business model is fundamentally a distribution and aggregation platform where TD SYNNEX purchases complementary products from suppliers and resells them to resellers and end-users, providing vendors with variable, cost-effective access to fragmented markets such as small- and medium-sized businesses while generating revenue through product markups and service fees. The company's Hyve segment extends beyond traditional distribution into design, manufacturing, and supply chain services for hyperscale computing infrastructure customers, representing a higher-margin, more integrated service offering. TD SYNNEX's competitive moat derives from its broad vendor relationships, extensive product portfolio, geographic reach across developed and emerging markets, and increasingly specialized capabilities in hyperscale infrastructure—positioning it as a trusted advisor that helps customers navigate complex IT ecosystems and consolidate vendor spend. The customer base spans enterprises, SMBs, and hyperscale cloud service providers, with key suppliers including Apple and HP representing significant revenue concentrations.
【AI-driven infrastructure expansion】 Management expects sustained momentum in hardware spending driven by AI-capable device adoption and enterprise infrastructure modernization, with particular strength anticipated in cloud, networking, and data center technologies. The company is ramping programs with multiple hyperscale customers, with new programs expected to contribute materially in late fiscal 2026 and early fiscal 2027, supported by ongoing capacity investments in engineering and manufacturing capabilities. Pricing dynamics remain favorable, with vendors implementing price increases across multiple categories including memory, servers, and infrastructure products, though management is monitoring for potential demand elasticity while maintaining confidence in near-term demand resilience. The company aims to convert accelerating top-line growth into operating leverage and margin expansion, with Hyve expected to increase as a percentage of total business mix over time as new programs mature and manufacturing services scale. Capital allocation priorities include continued investment in the business to support growth, shareholder returns through dividends and repurchases, and maintaining a balanced leverage profile that provides flexibility for strategic opportunities.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 65.1B | 62.5B | 58.5B | 57.6B | 62.3B | 31.6B |
| Net Income | 978M | 820M | 683M | 622M | 647M | 391M |
| EPS | $10.38 | $9.95 | $7.95 | $6.70 | $6.77 | $6.24 |
| Free Cash Flow | 1.2B | 1.4B | 1.0B | 1.3B | -115M | 770M |
| ROIC | 9.5% | 9.6% | 8.0% | 7.0% | 7.1% | 6.6% |
| Gross Margin | 7.1% | 7.0% | 6.8% | 6.9% | 6.3% | 6.0% |
| Debt/Equity | 0.67 | 0.72 | 0.57 | 0.68 | 0.60 | 0.58 |
| Dividends/Share | $1.49 | $1.76 | $1.60 | $1.40 | $1.20 | $0.80 |
| Operating Income | 1.6B | 1.4B | 1.2B | 1.1B | 1.1B | 623M |
| Operating Margin | 2.5% | 2.3% | 2.0% | 1.9% | 1.7% | 2.0% |
| ROE | 11.1% | 9.9% | 8.4% | 7.7% | 8.1% | 6.4% |
| Shares Outstanding | 99M | 82M | 86M | 93M | 96M | 63M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 13.8B | 13.3B | 14.1B | 17.0B | 20.1B | 19.1B | 20.0B | 31.6B | 62.3B | 57.6B | 58.5B | 62.5B | 65.1B |
| Gross Margin | 7.9% | 8.9% | 9.1% | 9.1% | 9.6% | 6.1% | 6.0% | 6.0% | 6.3% | 6.9% | 6.8% | 7.0% | 7.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 790M | 837M | 903M | 1.0B | 1.4B | 637M | 665M | 1.2B | 2.6B | 2.7B | 2.7B | 2.9B | 3.0B |
| EBIT | 309M | 355M | 380M | 507M | 550M | 519M | 521M | 623M | 1.1B | 1.1B | 1.2B | 1.4B | 1.6B |
| Op. Margin | 2.2% | 2.7% | 2.7% | 3.0% | 2.7% | 2.7% | 2.6% | 2.0% | 1.7% | 1.9% | 2.0% | 2.3% | 2.5% |
| Net Income | 178M | 206M | 233M | 297M | 297M | 496M | 523M | 391M | 647M | 622M | 683M | 820M | 978M |
| Net Margin | 1.3% | 1.5% | 1.7% | 1.7% | 1.5% | 2.6% | 2.6% | 1.2% | 1.0% | 1.1% | 1.2% | 1.3% | 1.5% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.7M | 22M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 9.8% | 9.8% | 10.6% | 10.6% | 7.2% | 6.1% | 7.3% | 6.6% | 7.1% | 7.0% | 8.0% | 9.6% | 9.5% |
| ROE | 11.6% | 11.9% | 12.3% | 14.0% | 10.4% | 13.7% | 12.9% | 6.4% | 8.1% | 7.7% | 8.4% | 9.9% | 11.1% |
| ROA | 4.4% | 4.5% | 4.8% | 4.6% | 3.1% | 4.3% | 4.2% | 1.9% | 2.3% | 2.1% | 2.3% | 2.5% | 2.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -235M | 641M | 325M | 177M | 101M | 550M | 1.8B | 810M | -50M | 1.4B | 1.2B | 1.5B | 1.4B |
| Free Cash Flow | -292M | 541M | 201M | 79M | -25M | 412M | 1.8B | 770M | -115M | 1.3B | 1.0B | 1.4B | 1.2B |
| Owner Earnings | -341M | 524M | 189M | -490K | -147M | 150M | 1.5B | 605M | -604M | 904M | 741M | 1.1B | 896M |
| CapEx | 57M | 100M | 123M | 98M | 125M | 137M | 27M | 40M | 65M | 150M | 175M | 142M | 134M |
| Maint. CapEx | 92M | 104M | 121M | 160M | 225M | 372M | 342M | 152M | 463M | 418M | 408M | 414M | 419M |
| Growth CapEx | 0 | 0 | 1.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 92M | 104M | 121M | 160M | 225M | 372M | 342M | 152M | 463M | 418M | 408M | 414M | 419M |
| CapEx/OCF | N/A | 15.6% | 38.0% | 55.2% | 124.4% | 25.0% | 10.8% | 6.8% | N/A | 10.7% | 14.4% | 9.3% | 9.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 4.9M | 23M | 34M | 42M | 60M | 77M | 21M | 50M | 115M | 130M | 138M | 146M | 148M |
| Dividend Yield | 0.2% | 0.8% | 1.0% | 1.0% | 1.5% | 1.7% | 0.4% | 0.8% | 1.3% | 1.5% | 1.4% | 1.3% | 0.6% |
| Share Buybacks | 0 | 8.7M | 6.9M | 0 | 66M | 15M | 3.4M | 0 | 125M | 621M | 612M | 596M | 575M |
| Buyback Yield | N/A | 0.3% | 0.2% | N/A | 2.3% | 0.5% | 0.1% | N/A | 1.4% | 7.0% | 6.0% | 4.7% | 2.4% |
| Stock-Based Comp | 14M | 14M | 14M | 17M | 23M | 28M | 33M | 53M | 91M | 85M | 69M | 66M | 68M |
| Debt Repayment | 6.6M | 64M | 0 | 0 | 0 | 0 | 1.3B | 2.3B | 129M | 74M | 1.5B | 599M | 599M |
| Balance Sheet | |||||||||||||
| Net Debt | 793M | 389M | 578M | 1.4B | 3.0B | 2.8B | 286M | 3.6B | 4.3B | 4.5B | 3.5B | 3.7B | 4.3B |
| Cash & Equiv. | 180M | 336M | 381M | 551M | 455M | 226M | 1.4B | 994M | 523M | 1.0B | 1.1B | 2.4B | 1.6B |
| Long-Term Debt | 264M | 639M | 601M | 1.1B | 2.6B | 2.7B | 1.5B | 4.0B | 3.8B | 3.1B | 3.7B | 3.6B | 3.6B |
| Debt/Equity | 0.59 | 0.41 | 0.49 | 0.85 | 1.01 | 0.80 | 0.39 | 0.58 | 0.60 | 0.68 | 0.57 | 0.72 | 0.67 |
| Interest Coverage | 11.0 | 12.7 | 12.2 | 10.7 | 5.9 | 3.0 | 3.9 | 5.3 | 4.8 | 3.7 | 3.7 | 4.0 | 4.0 |
| Equity | 1.7B | 1.8B | 2.0B | 2.3B | 3.4B | 3.8B | 4.3B | 7.9B | 8.0B | 8.2B | 8.0B | 8.5B | 8.8B |
| Total Assets | 4.7B | 4.4B | 5.2B | 7.8B | 11.5B | 11.7B | 13.5B | 27.7B | 29.7B | 29.4B | 30.3B | 34.3B | 35.1B |
| Total Liabilities | 3.1B | 2.6B | 3.2B | 5.4B | 8.1B | 7.9B | 9.1B | 19.8B | 21.7B | 21.2B | 22.2B | 25.8B | 26.3B |
| Intangibles | 230M | 167M | 299M | 583M | 1.4B | 1.2B | 186M | 4.9B | 4.4B | 4.2B | 3.9B | 3.8B | 3.7B |
| Retained Earnings | 1.3B | 1.5B | 1.7B | 2.0B | 2.2B | 2.6B | 3.1B | 1.2B | 1.7B | 2.2B | 2.8B | 3.4B | 3.7B |
| Working Capital | 1.2B | 1.7B | 1.5B | 1.7B | 2.2B | 2.8B | 3.1B | 3.5B | 4.1B | 3.3B | 4.1B | 4.3B | 4.7B |
| Current Assets | 3.9B | 3.6B | 4.0B | 5.7B | 7.2B | 7.5B | 8.8B | 17.7B | 20.5B | 20.1B | 21.3B | 25.3B | 26.1B |
| Current Liabilities | 2.7B | 1.9B | 2.5B | 4.0B | 5.0B | 4.6B | 5.6B | 14.2B | 16.4B | 16.7B | 17.2B | 21.0B | 21.4B |
| Per Share Data | |||||||||||||
| EPS | 2.29 | 2.62 | 2.94 | 3.74 | 3.59 | 4.87 | 5.11 | 6.24 | 6.77 | 6.70 | 7.95 | 9.95 | 10.38 |
| Owner EPS | -4.38 | 6.66 | 2.40 | -0.01 | -1.78 | 1.47 | 14.24 | 9.65 | -6.32 | 9.74 | 8.63 | 12.75 | 9.05 |
| Book Value | 21.27 | 22.87 | 24.98 | 28.76 | 41.43 | 37.19 | 42.33 | 126.16 | 83.98 | 88.14 | 93.53 | 102.52 | 88.70 |
| Cash Flow/Share | -3.02 | 8.15 | 4.11 | 2.22 | 1.21 | 5.40 | 17.90 | 12.92 | -0.52 | 15.16 | 14.17 | 18.58 | 14.11 |
| Dividends/Share | 0.07 | 0.29 | 0.43 | 0.53 | 0.70 | 0.75 | 0.20 | 0.80 | 1.20 | 1.40 | 1.60 | 1.76 | 1.49 |
| Shares Out. | 77.7M | 78.7M | 79.1M | 79.5M | 82.9M | 101.9M | 102.5M | 62.7M | 95.6M | 92.8M | 85.9M | 82.4M | 99.0M |
| Valuation | |||||||||||||
| P/E Ratio | 13.8 | 16.1 | 18.1 | 16.6 | 9.8 | 5.9 | 7.5 | 16.3 | 14.1 | 14.2 | 14.8 | 15.3 | 23.4 |
| P/FCF | N/A | 6.1 | 20.8 | 62.6 | N/A | 14.3 | 4.3 | 8.3 | N/A | 7.0 | 9.7 | 9.0 | 19.2 |
| EV/EBIT | 13.0 | 10.9 | 13.7 | 14.1 | 11.5 | 7.2 | 5.5 | 14.1 | 11.9 | 11.0 | 10.2 | 9.5 | 17.7 |
| Price/Book | 1.5 | 1.9 | 2.1 | 2.2 | 0.9 | 0.8 | 0.9 | 0.8 | 1.1 | 1.1 | 1.3 | 1.5 | 2.7 |
| Price/Sales | 2.1 | 2.0 | 2.2 | 0.3 | 0.2 | 0.1 | 0.1 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.4 |
| FCF Yield | -11.7% | 16.1% | 4.7% | 1.6% | -0.8% | 13.9% | 45.7% | 12.0% | -1.2% | 14.1% | 10.2% | 11.0% | 5.2% |
| Market Cap | 2.5B | 3.4B | 4.2B | 5.0B | 2.9B | 3.0B | 4.0B | 6.4B | 9.2B | 8.9B | 10.2B | 12.6B | 24.1B |
| Avg. Price | 28.65 | 35.52 | 42.84 | 53.93 | 48.53 | 45.40 | 56.50 | 102.24 | 94.74 | 92.92 | 111.37 | 134.08 | 242.92 |
| Year-End Price | 31.61 | 42.30 | 53.10 | 62.31 | 34.96 | 57.80 | 76.25 | 101.63 | 95.69 | 95.17 | 117.81 | 151.99 | 242.92 |
TD SYNNEX CORP passes 4 of 9 quality checks, suggesting mixed fundamentals.
TD SYNNEX CORP trades at 24.4x trailing earnings, compared to its 15-year median P/E of 14.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 14.1x vs a median of 9.4x. The company's 5-year average ROIC is 7.6% with a gross margin of 6.6%. Total shareholder yield (dividends + buybacks) is 3.0%. At current prices, the estimated annualized return to fair value is +2.5%.
TD SYNNEX CORP (SNX) has a net profit margin of 1.3%. This is a modest margin.
TD SYNNEX CORP (SNX) generated $1.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TD SYNNEX CORP (SNX) has a debt-to-equity ratio of 0.72. This indicates moderate leverage.
TD SYNNEX CORP (SNX) reported earnings per share (EPS) of $9.95 in its most recent fiscal year.
TD SYNNEX CORP (SNX) has a return on equity (ROE) of 9.9%. This indicates moderate shareholder returns.
TD SYNNEX CORP (SNX) has a 5-year average gross margin of 6.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for TD SYNNEX CORP (SNX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TD SYNNEX CORP (SNX) has a book value per share of $102.52, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects sustained momentum in hardware spending driven by AI-capable device adoption and enterprise infrastructure modernization, with particular strength anticipated in cloud, networking, and data center technologies. The company is ramping programs with multiple hyperscale customers, with new programs expected to contribute materially in late fiscal 2026 and early fiscal 2027, supported by ongoing capacity investments in engineering and manufacturing capabilities. Pricing dynamics remain favorable, with vendors implementing price increases across multiple categories including memory, servers, and infrastructure products, though management is monitoring for potential demand elasticity while maintaining confidence in near-term demand resilience. The company aims to convert accelerating top-line growth into operating leverage and margin expansion, with Hyve expected to increase as a percentage of total business mix over time as new programs mature and manufacturing services scale. Capital allocation priorities include continued investment in the business to support growth, shareholder returns through dividends and repurchases, and maintaining a balanced leverage profile that provides flexibility for strategic opportunities.
No recent press releases.