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Earnings transcript
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SNX
TD Synnex Corp
$276.04
2.98
(1.09%)
| Exchange: | NYSE |
| Market Cap: | 22.072B |
| Shares Outstanding: | 21.432M |
Delayed data
About The Company
| Sector: | TechnologyView sector performance | |||||
| Industry: | Technology DistributorsView industry performance | |||||
| CEO: | Patrick Zammit | |||||
| Full Time Employees: | 24000 | |||||
| Address: |
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| Website: | https://www.tdsynnex.com |
TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem in the United States, Europe, and internationally. It offers endpoint solutions, including personal computing devices and peripherals, mobile phones and accessories, printers, and supplies; and advanced solutions comprising data center technologies, such as hybrid cloud, security, storage, networking, servers, software, converged and hyper-converged infrastructure, and hyperscale infrastructure. The company also provides design, integration, test and other production value-added solutions, such as thermal testing, power-draw efficiency testing, burn-in, quality, and logistics support; logistics and field services; depot repair and customer management services; and cloud services, including public cloud solutions in productivity and collaboration, infrastructure as a service, platform as a service, software as a service, security, mobility, AI, and other hybrid solutions. In addition, it offers online services; financing options, including net terms, third party leasing, floor plan financing and letters-of-credit backed financing and arrangements, as well lease products to reseller customers and their end-users and provides device-as-a-service to end-users; and marketing services comprising direct mail, external media advertising, reseller product training, targeted telemarketing campaigns, national and regional trade shows, trade groups, database analysis, print on demand services, and web-based marketing. It serves value-added resellers, corporate resellers, government resellers, system integrators, direct marketers, retailers, and managed service providers. The company was formerly known as SYNNEX Corporation and changed its name to TD SYNNEX Corporation in September 2021. TD SYNNEX Corporation was founded in 1980 and is headquartered in Fremont, California.
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Revenue Segmentation
SNX full analysis
Hey everyone, welcome back to MarketSnap. Buying TD SYNNEX here is a real decision with real money on the line — the stock just printed its best quarter ever and then sold off hard, so we're not guessing our way through this one. We're running the MarketSnap valuation model and letting the numbers lead. So here's the setup. TD SYNNEX is one of the largest IT distributors on the planet — a middleman between the companies that build technology and…
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 57,555,416 | 58,452,436 | 62,508,086 |
| Gross Profit | 3,581,851.999 | 3,536,803 | 4,368,982 |
| EBITDA | 1,514,784 | 1,603,348 | 1,828,081 |
| Operating Income | 1,327,605 | 1,228,554 | 1,422,099 |
| Net Income | 626,911 | 689,091 | 827,660 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 29,412,814 | 30,274,479 | 34,250,898 |
| Total Liabilities | 21,229,632 | 22,239,045 | 25,800,469 |
| Total Stockholders Equity | 8,183,182 | 8,035,434 | 8,450,429 |
| Total Debt | 4,082,778 | 3,907,491 | 1,018,321 |
| Cash and Cash Equivalents | 1,033,776 | 1,059,378 | 2,435,389 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,407,373 | 1,217,724 | 1,531,704 |
| Capital Expenditure | -150,007 | -175,112 | -142,282 |
| Free Cash Flow | 1,257,366 | 1,042,612 | 1,389,422 |
| Net Income | 626,911 | 689,091 | 827,660 |
| Net Change in Cash | 510,920 | 25,602 | 1,376,011 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 92,083,166.014 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 107,145,932.145 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 97,355,225.109 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 3,421,807.433 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 3,761,097.453 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 3,494,890.838 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 2,225,742.739 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 2,497,643.867 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 2,284,310.510 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 3,615,458.351 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 4,206,867.247 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 3,822,455.035 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 28.650 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 30.300 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 27 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 6 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 2 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Diversified revenue base across product categories and geographic regions, reducing dependence on any single market or segment.
- Positive trailing profitability metrics, including ROE, ROIC, and net profit margin, indicating efficient capital deployment and operational execution.
- Consistent operating cash flow generation, with free cash flow supported by recurring net income and depreciation/amortization.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates SNX intrinsic value between $397.87 – $505.73 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about SNX valuation
Is TD Synnex Corp (SNX) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for TD Synnex Corp (SNX) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is SNX a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether SNX trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is SNX’s P/E ratio?
You can see SNX’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for SNX?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is SNX a good long-term investment?
Whether SNX fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
SNX
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Daily snapshot
1.09
Trading Metrics:
| Open: | 267.73 | Previous Close: | 273.06 | |
| Day Low: | 267.73 | Day High: | 278.39 | |
| Year Low: | 142.22 | Year High: | 298.77 | |
| Price Avg 50: | 261.68 | Price Avg 200: | 219.21 | |
| Volume: | 614192 | Average Volume: | 848531 |
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