TD SYNNEX Corporation SNX

Information TechnologyComputers, Phones & Household ElectronicsUnited States of America

Last close 236.62 USD on Nov 1, 2026, +59.0% year to date

Quant rating

Quant rating B Rank 79 of 389 in Information Technology

Growth C 213 of 389
Valuation C 218 of 389
Quality B 128 of 389
Revisions A 30 of 389
Momentum B 140 of 389

Wall Street consensus Buy (1.77)Average target 340.40 USD +43.9%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 18.9B
Enterprise value: 23.6B
52-week range: 142.22 – 298.69
3-year range: 93.00 – 298.69
Dividend yield: 0.81%
Beta (5 years): 1.42
Shares outstanding: 79.8M
Next earnings: Jan 6, 2027

About the company

TD Synnex Corporation is a global distributor and solutions aggregator and original design and contract manufacturer for the information technology (IT) ecosystem. The Company's two primary solution portfolios include Endpoint Solutions and Advanced Solutions. The Endpoint Solutions portfolio primarily includes personal computing devices and peripherals, mobile phones and accessories, printers and supplies. The Advanced Solutions portfolio includes data center technologies, such as hybrid cloud, security, storage, networking, servers, software, converged and hyper-converged infrastructure. Its segments include Americas distribution, Europe distribution, APJ distribution and Hyve Solutions. The Company's Hyve Solutions business partners with technology companies to design, manufacture, and deliver traditional and accelerated compute, cloud, and connected infrastructure. It serves customers such as value-added resellers, independent software vendors, corporate resellers, and others.

Growth and profitability fiscal year ends November 30

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	62,508	58,452	57,555	62,344	31,614	–
Revenue growth	6.9%	1.6%	−7.7%	97.2%	58.3%	25.6%
EPS (basic, normalized)	13.19	11.68	11.26	11.94	9.40	–
EPS growth	12.9%	3.7%	−5.7%	27.0%	–	–
Gross margin	7.0%	6.8%	6.9%	6.3%	6.0%	6.6%
Net margin	1.3%	1.2%	1.1%	1.0%	1.2%	1.2%
ROE	10.0%	8.5%	7.7%	8.2%	6.5%	8.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	749
Current ratio	1.19x
Long-term debt (mil)	3,595
Net debt (mil)	4,772
Total equity (mil)	9,302
Net debt / equity	0.51x
Net debt / EBITDA	2.51x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	62,508	+6.9%	0.4x	1,903	+9.3%	12.4x	13.19	+12.9%	17.9x
2026	80,549	+28.9%	0.3x	2,868	+50.7%	8.2x	21.24	+61.0%	11.1x
2027	88,670	+10.1%	0.3x	3,207	+11.8%	7.4x	24.63	+15.9%	9.6x
2028	96,465	+8.8%	0.2x	3,647	+13.7%	6.5x	29.60	+20.2%	8.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	80,549	+1.0%	+7.5%	+18.8%	21.24	+1.7%	+11.9%	+26.8%
2027	88,670	+1.2%	+10.4%	+23.0%	24.63	+1.4%	+15.0%	+35.2%
2028	96,465	+1.0%	+10.5%	+25.1%	29.60	+3.1%	+19.3%	+43.7%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	May 2024	Aug 2024	Nov 2024	Feb 2025	May 2025	Aug 2025	Nov 2025	Feb 2026	May 2026	Aug 2026
Sales reported (mil)	13,948	14,685	15,845	14,532	14,946	15,651	17,379	17,161	19,575	21,558
Sales mean (mil)	14,098	14,114	15,220	14,790	14,313	15,111	16,931	15,591	16,804	18,971
Surprise	−1.1%	+4.0%	+4.1%	−1.7%	+4.4%	+3.6%	+2.6%	+10.1%	+16.5%	+13.6%
EPS reported	2.73	2.86	3.09	2.80	2.99	3.58	3.83	4.73	4.85	5.68
EPS mean	2.82	2.80	3.05	2.91	2.72	3.05	3.73	3.31	4.14	4.70
Surprise	−3.2%	+2.2%	+1.4%	−3.6%	+10.1%	+17.5%	+2.7%	+43.0%	+17.1%	+20.8%

Peer comparison Computers, Phones & Household Electronics

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SNX TD SYNNEX Corporation	18.9B	2.51x	1.3%	2.01x	11.1x	9.6x	8.2x	7.4x
AAPL Apple Inc.	5.03T	0.15x	26.8%	46.83x	38.9x	35.8x	29.7x	28.1x
DELL Dell Technologies Inc	269.8B	1.83x	5.2%	−190.30x	16.4x	14.0x	11.8x	10.7x
STX Seagate Technology Holdings PLC	148.0B	0.23x	26.1%	42.88x	16.0x	9.8x	12.7x	7.6x
WDC Western Digital Corp	137.0B	−0.10x	71.9%	14.65x	14.6x	8.9x	11.5x	7.2x
HPE Hewlett Packard Enterprise Company	73.1B	2.53x	−0.2%	2.76x	14.5x	11.7x	9.4x	8.0x
Mean		1.19x	21.9%	−13.53x	18.6x	15.0x	13.9x	11.5x
Median		1.03x	15.7%	8.70x	15.3x	10.7x	11.7x	7.8x

Technical analysis

1M−7.7%
3M−4.1%
1Y+53.2%
3Y+172.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, TD SYNNEX Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	62,508	58,452	57,555	62,344	31,614	19,977
Cost of revenue	58,139	54,471	53,599	58,444	29,725	18,783
Gross profit	4,369	3,981	3,957	3,900	1,890	1,194
Selling, general & administrative expenses	2,651	2,716	2,673	2,627	1,154	665
Research & development	–	–	–	–	–	–
Depreciation/amortization	296	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	7.2	71.3	206	222	112	7.4
Other operating expenses	0	0	0	0	0	0
Operating income	1,415	1,194	1,078	1,051	623	521
Net interest income (expense)	−357	−319	−288	−223	−158	−79.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−1.1	−8.7	−0.2	−1.2	1.1	−6.2
Net income before taxes	1,057	866	790	827	466	436
Provision for taxes	230	177	163	176	71.4	102
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	828	689	627	651	395	335
Extraordinary items	–	–	–	0	0	195
Net income	828	689	627	651	395	529
EBIT, normalized	1,422	1,266	1,292	1,273	735	529
EBITDA, normalized	1,836	1,673	1,710	1,737	887	870
Basic EPS, normalized	13.19	11.68	11.26	11.94	9.40	–

Balance sheet in millions of USD, fiscal years

Balance sheet, TD SYNNEX Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	2,435	1,059	1,034	523	994	1,565
Receivables	12,680	11,300	11,262	10,240	9,429	4,157
Total inventory	9,504	8,287	7,146	9,067	6,643	2,685
Prepaid expenses	–	–	–	–	–	–
Other current assets	669	679	642	672	668	363
Total current assets	25,289	21,325	20,084	20,501	17,734	8,769
Property, plant & equipment	938	929	901	827	931	1,186
Goodwill	4,099	3,895	3,904	3,804	3,917	2,260
Intangibles	3,775	3,912	4,244	4,423	4,913	985
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	150	214	279	179	171	268
Total assets	34,251	30,274	29,413	29,734	27,666	13,469
Liabilities
Accounts payable	17,624	15,084	13,347	13,989	12,035	3,892
Payable/accrued	–	–	–	–	–	–
Accrued expenses	2,318	1,966	2,408	2,172	2,017	1,512
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	1,018	171	984	268	181	159
Other current liabilities	0	0	0	0	0	67.1
Total current liabilities	20,961	17,221	16,739	16,429	14,233	5,630
Long-term debt	3,592	3,736	3,099	3,836	3,955	2,608
Minority interest	–	–	–	–	–	–
Other liabilities	1,247	1,281	1,392	1,444	1,572	892
Total liabilities	25,800	22,239	21,230	21,708	19,760	9,130
Shareholders' equity
Preferred stock	0	0	0	0	0	–
Common stock	0.1	0.1	0.1	0.1	0.1	0.1
Additional paid-in capital	7,431	7,438	7,435	7,374	7,271	1,592
Retained earnings (accumulated deficit)	3,437	2,756	2,205	1,708	1,172	3,133
Treasury stock	−2,039	−1,513	−950	−337	−201	−191
Other equity	−379	−645	−507	−720	−336	−195
Total equity	8,450	8,035	8,183	8,026	7,906	4,339
Total liabilities & shareholders' equity	34,251	30,274	29,413	29,734	27,666	13,469

Cash flow statement in millions of USD, fiscal years

Cash flow statement, TD SYNNEX Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	828	689	627	651	395	529
Depreciation, depletion & amortization	414	408	418	463	152	342
Deferred taxes	−46.8	−28.8	−91.6	−92.4	−0.3	−49.0
Non-cash items	108	72.7	127	135	76.9	101
Changes in working capital	228	77.2	327	−1,207	186	912
Cash from operations	1,532	1,218	1,407	−49.6	810	1,834
Investing activities
Capital expenditures	−142	−175	−150	−117	−54.9	−198
Other investing cash flows	−78.9	−18.7	−6.4	1.5	−897	−11.5
Cash from investing	−221	−194	−156	−116	−952	−209
Financing activities
Financing cash flow items	−8.8	−13.9	0.4	−0.7	2,304	0
Cash dividends paid	−146	−138	−130	−115	−50.3	−20.8
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	122	−801	−656	−160	−2,646	−271
Cash from financing	−32.9	−953	−786	−276	−393	−292
Foreign exchange effects	98.3	−45.2	45.8	−31.4	−38.8	4.5
Net change in cash	1,376	25.6	511	−472	−574	1,338
Free cash flow	1,389	1,043	1,257	−167	755	1,636

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.