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SNX

TD SYNNEX Corporation

SNX

TD SYNNEX Corporation • NYSE
$152.48 ▲ 0.38% (+0.58)
Market Cap $12.65 B
52w High $167.76
52w Low $92.23
Dividend Yield 1.76%
P/E 16.59
Volume 240.18K
Outstanding Shares 82.99M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $15.651B ▲ $667.351M ▲ $226.795M ▲ 1.449% ▲ $2.75 ▲ $490.285M ▲
Q2-2025 $14.946B ▲ $613.975M ▲ $184.921M ▲ 1.237% ▲ $2.22 ▲ $434.209M ▲
Q1-2025 $14.532B ▼ $592.775M ▼ $167.537M ▼ 1.153% ▼ $1.98 ▼ $404.996M ▼
Q4-2024 $15.845B ▲ $612.571M ▲ $194.802M ▲ 1.229% ▲ $2.3 ▲ $428.582M ▲
Q3-2024 $14.685B $559.325M $178.556M 1.216% $2.09 $402.671M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $874.35M ▲ $31.683B ▲ $23.229B ▲ $8.454B ▲
Q2-2025 $767.099M ▲ $30.509B ▲ $22.167B ▲ $8.342B ▲
Q1-2025 $541.863M ▼ $28.796B ▼ $20.746B ▼ $8.05B ▲
Q4-2024 $1.059B ▲ $30.274B ▲ $22.239B ▲ $8.035B ▼
Q3-2024 $853.923M $29.208B $21.043B $8.164B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 ▲ $246.141M ▼ $-105.679M ▼ $-59.366M ▲ $107.251M ▼ $213.92M ▼
Q2-2025 $-167.537M ▼ $573.182M ▲ $-26.546M ▲ $-415.194M ▼ $225.236M ▲ $542.939M ▲
Q1-2025 $167.537M ▼ $-747.997M ▼ $-44.532M ▼ $288.596M ▲ $-517.515M ▼ $-789.522M ▼
Q4-2024 $197.631M ▲ $561.941M ▲ $-12.265M ▲ $-297.664M ▲ $205.455M ▲ $512.881M ▲
Q3-2024 $178.556M $385.782M $-80.776M $-637.952M $-319.725M $338.64M

Revenue by Products

Product Q1-2020Q2-2020Q3-2020Q4-2020
Product
Product
 $4.08Bn ▲$4.47Bn ▲$5.31Bn ▲$6.12Bn ▲
Service
Service
 $1.18Bn ▲$1.06Bn ▼$1.16Bn ▲$1.30Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown very sharply over the last five years, largely driven by scale expansions and acquisitions, and has since leveled off into more modest, steady growth. Profitability looks typical for a large technology distributor: margins are thin but reasonably stable, and operating profit has held up well even as the broader IT spending environment has been choppy. Net income has trended upward over the last few years after a post‑merger reset, suggesting the company is capturing the benefits of scale and integration, not just chasing volume. Overall, the income statement points to a mature, high-volume, low-margin business that has managed to slowly improve its earnings power.

Balance Sheet

Balance Sheet The balance sheet has roughly doubled in size over five years, reflecting TD SYNNEX’s transformation into a much larger player. Both assets and shareholder equity have grown meaningfully, which is a positive sign for balance-sheet strength. Debt also climbed as the company scaled, but it has remained relatively stable in recent years rather than continuing to rise. Cash levels are modest but consistent, suggesting the company is not over-reliant on cash reserves yet maintains a workable liquidity cushion. In simple terms, the balance sheet looks like that of a scaled distributor with meaningful leverage but no obvious signs of strain.

Cash Flow

Cash Flow Cash generation is a key strength. Outside of one weak year tied to working capital swings, operating cash flow has been solid and comfortably positive. Free cash flow has closely followed, helped by relatively light capital spending needs for a distribution and services model. This means TD SYNNEX has generally produced more cash than it needs for maintaining the business, leaving room for debt reduction, acquisitions, or capital returns when management chooses. The pattern indicates a business that converts a fair share of its accounting profits into actual cash.

Competitive Edge

Competitive Edge TD SYNNEX sits at the center of the IT supply chain as a large “solutions aggregator,” not just a box mover. Its strength comes from scale, breadth, and relationships: a huge vendor lineup, a very large base of channel partners, and presence across many countries. These network effects make its platform more attractive the more participants it has, which smaller rivals struggle to match. The company also adds value through training, technical support, pre‑built solutions, financing, and loyalty programs, making it harder for partners to switch away. Competition from other global distributors remains intense, and margins will likely stay thin, but TD SYNNEX appears firmly entrenched as one of a small number of indispensable middlemen in the ecosystem.

Innovation and R&D

Innovation and R&D Innovation is focused on platforms and programs rather than heavy laboratory-style research. StreamOne, its digital cloud and subscription marketplace, is central to moving the business toward recurring “as‑a‑service” models. The company is layering AI into these tools, such as with Destination AI and the Digital Bridge assistant, to help partners sell and implement complex solutions more easily. It is also leaning into sustainability and the circular economy with refurbishment and trade-in programs, plus flexible financing like tech‑as‑a‑service offerings. Future plans to embed more AI, expand cloud marketplace capabilities, and deepen circular-economy services suggest a continuous, incremental innovation approach aimed at making the platform stickier and more valuable over time.

Summary

TD SYNNEX has evolved into a large, diversified technology distributor and solutions provider with steady profits, a scaled balance sheet, and generally reliable cash generation. The core business is high volume and structurally low margin, but management appears to be using scale, technology platforms, and value-added services to protect and gradually enhance profitability. Its competitive position is anchored in a broad ecosystem of vendors and partners, reinforced by digital tools, AI-driven enablement, and subscription-based offerings. Key opportunities lie in cloud, AI, everything‑as‑a‑service, and sustainable IT, while key risks include industry cycles, intense competition, and the inherent fragility of low-margin distribution. Overall, the data and strategy together describe a mature but evolving platform company trying to turn scale and relationships into a durable, technology-enabled moat.

NEWS

November 18, 2025 · 9:00 AM UTC

TD SYNNEX Evolves Digital Bridge with New AI Assistant for Microsoft Teams to Drive Increased Agility for Partners

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November 13, 2025 · 9:00 AM UTC

TD SYNNEX Recognized as the Winner of 2025 Microsoft Global Device Partner of the Year

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November 10, 2025 · 10:26 AM UTC

TD SYNNEX Wins Global and Regional Distributor of the Year Honors at Cisco Partner Summit 2025

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October 30, 2025 · 12:30 AM UTC

Tech Data and Wind River Partner to Accelerate Next-Generation Cloud Solutions in India with Wind River Cloud Platform and eLxr Pro

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October 14, 2025 · 9:00 AM UTC

TD SYNNEX Launches Global FinOps Practice in Collaboration with IBM to Help Partners Maximize Cloud Profitability

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