TD SYNNEX Corporation (SNX) AI Stock Analysis

• Market Cap: $12.46B
• Dividend Yield: 1.15%
• Average Volume (3M): 664.34K
• Price to Earnings (P/E): 16.6
• Beta (1Y): 1.13
• Revenue Growth: 6.95%
• EPS Growth: 19.19%
• Country: US
• Employees: 23,000
• Sector: Technology
• Sector Strength: 88
• Industry: Technology Distributors
• EPS (TTM): 3.58
• Shares Outstanding: 81,437,860
• 10 Day Avg. Volume: 938,029
• 30 Day Avg. Volume: 664,337
• PEG Ratio: 0.78
• Price to Book (P/B): 1.27
• Price to Sales (P/S): 0.17
• P/FCF Ratio: 9.76
• Enterprise Value/Market Cap: 1.24
• Enterprise Value/Revenue: 0.25
• Enterprise Value/Gross Profit: 4.03
• Enterprise Value/Ebitda: 8.81
• 1Y Price Target: $176.75
• Price Target Upside: 15.51% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: $173.00 ▲(13.06% Upside)

TD SYNNEX Corporation's overall stock score of 73 reflects its strong financial performance and positive earnings call results. The company's robust growth across multiple regions and strategic initiatives are significant strengths. However, challenges in cash flow management and potential overbought technical indicators slightly temper the outlook. The recent corporate event of a senior notes offering further supports the company's strategic positioning.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term financial health.

Strategic Acquisitions

Acquiring Gateway Computer enhances TD SYNNEX's market presence in Japan, expanding its reach and service offerings in a key region.

Leadership Change

New CFO David Jordan's leadership and financial expertise are expected to drive strategic priorities, enhancing operational efficiency.

Negative Factors

Cash Flow Management

Declining free cash flow growth may limit the company's ability to invest in new opportunities and manage debt, impacting long-term stability.

Interest and Tax Rate Increases

Rising interest and tax expenses can reduce profitability, affecting the company's ability to reinvest in growth and innovation.

Operational Efficiency

Declining EBIT and EBITDA margins suggest cost management challenges, which could hinder profitability and competitive positioning.

TD SYNNEX Corporation Business Overview & Revenue Model

Company Description

TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products. It also provides systems design and integration solutions, build-to-order, and configure-to-order assembly capabilities; logistics services that comprise outsourced fulfillment, virtual distribution, and direct ship to end-users; cloud services; online services; and financing services comprising net terms, third party leasing, floor plan financing, and letters of credit backed financing and arrangements. In addition, the company offers marketing services, such as direct mail, external media advertising, reseller product training, targeted telemarketing campaigns, trade shows, trade groups, database analysis, print on demand services, and web-based marketing. It serves resellers, system integrators, and retailers. The company was formerly known as SYNNEX Corporation and changed its name to TD SYNNEX Corporation in September 2021. TD SYNNEX Corporation was incorporated in 1980 and is headquartered in Fremont, California.

How the Company Makes Money

TD SYNNEX generates revenue through multiple channels, primarily by acting as a distributor of technology products. The company earns a significant portion of its income from the sale of hardware and software products to resellers, who subsequently sell these products to end-users. Additionally, TD SYNNEX provides value-added services such as logistics, marketing support, and cloud solutions, which further contribute to its revenue. The company also benefits from strategic partnerships with leading technology vendors, allowing it to offer a diverse product portfolio and tap into various market segments. Revenue is bolstered by the growing demand for IT solutions and services, particularly in cloud computing and digital transformation initiatives across industries.

TD SYNNEX Corporation Financial Statement Overview

Summary

TD SYNNEX Corporation demonstrates a strong financial position with consistent revenue growth and low leverage. The income statement reflects solid profitability, though operational efficiency could be enhanced. The balance sheet is robust, with a low debt burden and strong equity returns. However, cash flow management poses a challenge, with declining free cash flow growth.

Income Statement

TD SYNNEX Corporation shows a steady revenue growth with a TTM increase of 1.61%. The gross profit margin is stable at 6.69%, and the net profit margin has improved to 1.82% in the TTM. However, the EBIT and EBITDA margins have slightly declined, indicating potential cost pressures. Overall, the income statement reflects a solid performance with room for improvement in operational efficiency.

Balance Sheet

The company maintains a strong balance sheet with a low debt-to-equity ratio of 0.14 in the TTM, indicating low leverage. Return on equity has improved to 13.48%, showcasing effective use of equity to generate profits. The equity ratio stands at a healthy level, reflecting financial stability and a strong asset base.

Cash Flow

Operating cash flow has decreased significantly in the TTM, impacting the operating cash flow to net income ratio. Free cash flow has also declined, with a negative growth rate of -20.62%. Despite this, the free cash flow to net income ratio remains robust at 75.83%, indicating efficient cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	60.97B	58.45B	57.56B	62.34B	31.61B	19.98B
Gross Profit	3.84B	3.54B	3.58B	3.56B	1.77B	1.15B
EBITDA	1.76B	1.60B	1.51B	1.49B	731.90M	545.15M
Net Income	774.05M	689.09M	626.91M	651.31M	395.07M	529.16M
Balance Sheet
Total Assets	31.68B	30.27B	29.41B	29.73B	27.67B	13.47B
Cash, Cash Equivalents and Short-Term Investments	874.35M	1.06B	1.03B	522.60M	993.97M	1.41B
Total Debt	4.24B	4.40B	4.08B	4.10B	4.14B	1.62B
Total Liabilities	23.23B	22.24B	21.23B	21.71B	19.76B	9.13B
Stockholders Equity	8.45B	8.04B	8.18B	8.03B	7.91B	4.34B
Cash Flow
Free Cash Flow	480.22M	1.04B	1.26B	-166.65M	754.89M	1.64B
Operating Cash Flow	633.27M	1.22B	1.41B	-49.60M	809.79M	1.83B
Investing Cash Flow	-189.02M	-193.84M	-156.41M	-115.51M	-952.35M	-209.50M
Financing Cash Flow	-483.63M	-953.10M	-785.88M	-275.59M	-392.62M	-291.70M

TD SYNNEX Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 153.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNX, the sentiment is Positive. The current price of 153.02 is below the 20-day moving average (MA) of 153.23, above the 50-day MA of 152.52, and above the 200-day MA of 137.60, indicating a neutral trend. The MACD of 0.19 indicates Positive momentum. The RSI at 51.01 is Neutral, neither overbought nor oversold. The STOCH value of 53.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SNX.

TD SYNNEX Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SNX	73 Outperform	$12.46B	16.60	9.23%	1.15%	6.95%	19.19%
CNXN	73 Outperform	$1.49B	18.21	9.30%	1.02%	3.19%	-4.91%
AVT	67 Neutral	$3.99B	18.29	4.71%	2.77%	-2.30%	-29.75%
ARW	64 Neutral	$5.79B	12.41	7.70%	―	3.16%	1.09%
SCSC	64 Neutral	$867.39M	12.32	8.11%	―	-4.88%	2.57%
NSIT	62 Neutral	$2.49B	18.77	8.51%	―	-6.69%	-51.74%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

TD SYNNEX Corporation Corporate Events

TD SYNNEX Issues $1.15 Billion in Senior Notes

On October 10, 2025, TD SYNNEX Corporation issued $1.15 billion in senior notes, consisting of $550 million due in 2029 and $600 million due in 2035, as part of a registered public offering. The proceeds from this offering are intended to repay existing debt, including a $581.3 million term loan and $700 million in senior notes due in 2026, as well as for general corporate purposes, potentially impacting the company’s financial strategy and market positioning.

TD SYNNEX Announces $1.15 Billion Senior Notes Offering

On October 7, 2025, TD SYNNEX Corporation announced an underwriting agreement to issue $550 million of 4.300% Senior Notes due 2029 and $600 million of 5.300% Senior Notes due 2035. The offering, expected to close on October 10, 2025, aims to strengthen the company’s financial position and support its strategic initiatives.

TD SYNNEX Appoints New CFO David Jordan

On October 2, 2025, TD SYNNEX Corporation announced the appointment of David Jordan as Executive Vice President and Chief Financial Officer, succeeding Marshall Witt, who is leaving for a new role outside the organization. Jordan, with extensive experience in financial management and a strong background in investor relations, is expected to drive the company’s strategic priorities and vision forward, leveraging his commercial acumen and leadership skills.

TD SYNNEX Announces Retirement of Chief Business Officer

Simon Leung, Chief Business Officer of TD SYNNEX Corporation, retired on September 1, 2025. In recognition of his contributions, the company has arranged a comprehensive compensation package, including salary continuation, a bonus, accelerated vesting of stock awards, and a lump sum payment, effective September 10, 2025, with certain restrictive covenants for the company’s benefit.