Synnex Corporation
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever buys today is betting that the hyperscaler boom continues, that Hyve holds its margins, and that the $13.9 billion inventory mountain dissolves into revenue rather than write-downs — and pays 19 times trailing earnings near the all-time high for it. Whoever waits checks three things in every quarterly report (10-Q): the Hyve growth and margin line, the inventory and cash flow trend, and the vesting progress of the Amazon warrant. If one of the three lines tips, the caution was cheap; if all three hold, plenty of boom remains. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
TD SYNNEX is the pipeline of the AI boom: $62.5 billion of annual revenue, a record quarter up 31 percent, and capital returns that have levered earnings per share by double digits for years. But it remains a penny business — a 1.3 to 1.7 percent net margin — that pays for its boom with a credit-financed $13.9 billion inventory mountain, minus $1.16 billion of first-half cash flow and warrants for its mega-customer Amazon, while the stock costs 19 times earnings near its all-time high. Whoever invests here buys the boom through the hub — inventory risk included. Not investment advice.
Growth & AI tailwind
Revenue up 31 percent to $19.6 billion in the second quarter of fiscal year 2026, Hyve up 49 percent to $3.0 billion at a 6.0 percent operating margin; diluted EPS from $2.21 to $4.15 (quarterly report 10-Q as of 05/31/2026). The AI boom measurably runs through this hub.
Capital returns & discipline
Roughly $1.8 billion of share buybacks across fiscal years 2023 through 2025 (diluted share count down 11 percent), a growing quarterly dividend of most recently $0.48, and $1.2 billion of remaining buyback capacity (11/30/2025) — the earnings-per-share machine is real.
Business model & margins
The annual report explicitly describes the business as low-margin: a 6.99 percent gross margin and 1.32 percent net margin in fiscal year 2025; in the boom quarter the gross margin fell to 6.84 percent. A penny business has no cushion for disruptions (10-K FY 2025, Item 1).
Working capital & concentration
Minus $1.16 billion of operating cash flow in the first half of fiscal year 2026, inventories up $4.4 billion to $13.9 billion, cash halved; one customer most recently at 11 to 12 percent of revenue, Hyve contracts often without volume guarantees; plus the Amazon warrant over roughly 4 percent of the shares (10-Q as of 05/31/2026; 10-K FY 2025, Item 1A).
Valuation & technicals
A stage-2 uptrend, relative strength 94, 26 scanner hits and institutional accumulation meet a 124 percent twelve-month run, a price 2 percent below the all-time high and a P/E around 19 versus a historical 10 to 12; insiders: 20 sales, zero purchases (data as of July 10, 2026).
Worth Noting
SNX reached our research list via the unusual confluence of 26 hits in our in-house stock scanner (data as of July 10, 2026) — spanning trend, quality and momentum filters at once.
Scanner metrics (P/E, P/S, Piotroski, Altman Z, fundamental grade) are computed from trailing twelve-month figures; the inventory build and the Amazon warrant from the first half of fiscal 2026 are only partially baked in.
Price and valuation figures are dated to July 10, 2026 (about $277.60, market value roughly $22.4 billion); analyses are evergreen, daily prices are not a buy argument. The fiscal year ends November 30 — all quarterly references carry that offset.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at SNX since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 142.40 $ to 290.10 $ · Last price: 264.40 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Electronics & Computer Distribution
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Synnex Corporation SNX | 21.4 | 17.9 | 11.0 | 7.0 | 2.7 | 6.9 | 79.9 |
| Arrow Electronics Inc ARW | 11.5 | 14.3 | 9.4 | 11.3 | 4.2 | 10.5 | 80.6 |
| Avnet Inc AVT | 7.6 | 33.7 | 12.8 | 10.4 | 3.1 | -6.6 | 81.7 |
| Insight Enterprises Inc NSIT | 4.5 | – | 12.1 | 22.1 | 5.2 | -5.2 | 29.5 |
| PC Connection Inc CNXN | 2.1 | – | 12.9 | 18.9 | – | 2.5 | 39.1 |
| ScanSource Inc SCSC | 1.2 | 17.1 | 8.9 | 13.6 | 3.1 | -6.7 | 31.2 |
| Climb Global Solutions CLMB | 0.5 | – | 12.3 | 15.8 | – | 40.1 | -14.6 |
| Median of companies shown | 4.5 | 17.5 | 12.1 | 13.6 | 3.1 | 2.5 | 39.1 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 14,062 | 393 | 235 | 5.94 | 327 | 1,976 | 5,215 |
| 2017 | 16,771 | 514 | 300 | 7.55 | 177 | 2,284 | 7,699 |
| 2018 | 19,768 | 586 | 300 | 7.24 | 101 | 3,435 | 11,544 |
| 2019 | 19,070 | 861 | 501 | 9.83 | 550 | 3,788 | 11,698 |
| 2020 | 19,977 | 529 | 529 | 10.33 | 1,834 | 4,339 | 13,469 |
| 2021 | 31,614 | 717 | 395 | 6.30 | 810 | 7,906 | 27,666 |
| 2022 | 62,344 | 1,235 | 651 | 6.82 | -50 | 8,026 | 29,734 |
| 2023 | 57,555 | 1,078 | 627 | 6.75 | 1,407 | 8,183 | 29,413 |
| 2024 | 58,452 | 1,229 | 689 | 8.02 | 1,218 | 8,035 | 30,274 |
| 2025 | 62,508 | 1,422 | 828 | 10.04 | 1,532 | 8,450 | 34,251 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 2.30 | 11.10 | 15,845 | 10.00 | 1.20 | 562 | 513 |
| 2025: Q1 | 2.00 | 2.20 | 14,532 | 4.00 | 1.20 | -748 | -790 |
| 2025: Q2 | 2.22 | 32.50 | 14,946 | 7.20 | 1.20 | 573 | 543 |
| 2025: Q3 | 2.73 | 30.10 | 15,651 | 6.60 | 1.40 | 246 | 214 |
| 2025: Q4 | 3.07 | 33.20 | 17,379 | 9.70 | 1.40 | 1,460 | 1,422 |
| 2026: Q1 | 4.08 | 104.40 | 17,161 | 18.10 | 1.90 | -896 | -929 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 29 of our scanner strategies — each hit links to the scanner.
Growth
- Ben Bennett: Power Screen
- EPS Acceleration
- Martin Zweig: Growth with Reason
- Patrick Walker: 30% EPS Growth
- Patrick Walker: 40, 40 Screen
- Quality Growth
- Ted Zhang: Super Stock Universe
Quality & Balance Sheet
Aktien.Guide
Breakout & Setup
Dividends
Momentum & Trend
- 21-EMA Trend
- Above the 50- & 200-SMA
- CANSLIM Type RS
- Chris Perruna: Within 15% of Highs
- Gary Antonacci: Dual Momentum (Stock Adaptation)
- Mark Minervini: Trend Criteria — 1 Month
- Mike Webster: Power Trend Leader
- Mike Webster: Swing Trading List
- Oliver Kell: Strength on Down Day
- Power Trend
- RS Leader (≥90)
- RS New Highs
- Richard Moglen: Top Performers 3/6 Month
- Stage 2 Leader
- Stan Weinstein: Checklist
- Stan Weinstein: Stage 2
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 11/30/2026 | 19.00 | 18.60 – 19.55 | 74,793 | 44.1% | 11 |
| 11/30/2027 | 21.41 | 19.27 – 23.39 | 80,031 | 12.7% | 11 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 22.0% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $374.6M |
|---|---|
| Market cap | $21.36B |
| Free cash flow in year ten | $2.74B |
| Terminal value as a share of market value | 67.6% |
For comparison: over the past five years free cash flow shrank by 3.2% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
TD SYNNEX verdient nachweislich am Verkauf von KI-Technik: Der Geschäftsbericht (10-K) für das Geschäftsjahr 2025 führt KI und Hyperscale-Recheninfrastruktur ausdrücklich im vertriebenen Produktkatalog auf und bestätigt KI-Technologie in eigenen Angeboten; die Hyve-Sparte fertigt Infrastruktur für Hyperscaler — das gleichzeitig dokumentierte KI-Risiko (Item 1A) tritt nach der Vorrang-Regel hinter die KI-Umsatzquelle zurück.
View the full file — quotes, sources, reviewed filings
„We offer a comprehensive catalog of more than 200,000 technology products (as measured by active SKU's) from approximately 2,500 OEMs, including personal computing devices, mobile phones and accessories, and strategic technologies such as cloud, security, data analytics, AI and hyperscale computing infrastructure."
Wir bieten einen umfassenden Katalog von mehr als 200.000 Technologieprodukten (gemessen an aktiven Artikelnummern) von rund 2.500 Erstausrüstern an, darunter Personal-Computing-Geräte, Mobiltelefone und Zubehör sowie strategische Technologien wie Cloud, Sicherheit, Datenanalyse, KI und Hyperscale-Recheninfrastruktur.
10-K · 2026-01-27 · View SEC filing
„We currently incorporate AI technology in certain offerings and in our business operations."
Wir integrieren derzeit KI-Technologie in bestimmte Angebote und in unsere Geschäftsabläufe.
10-K · 2026-01-27 · View SEC filing
„We offer a comprehensive catalog of technology products from OEMs, such as personal computing devices, mobile phones and accessories, cloud, security, data analytics, artificial intelligence ("AI") and hyperscale computing infrastructure."
Wir bieten einen umfassenden Katalog von Technologieprodukten von Erstausrüstern an, etwa Personal-Computing-Geräte, Mobiltelefone und Zubehör, Cloud, Sicherheit, Datenanalyse, künstliche Intelligenz („KI“) und Hyperscale-Recheninfrastruktur.
10-Q · 2026-07-02 · View SEC filing
Filings Reviewed: 10-Q 2026-07-02 · 10-Q 2026-04-02 · 10-Q 2025-10-01 · 10-Q 2025-07-02 · 10-K 2026-01-27 · 10-K 2025-01-24
Rated on July 17, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 0.1%
- More than 10% revenue growth is expected for the coming year 6.5%
- Share count grows by less than 3% a year -4.8%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 9.2%
- Gross margin at 40% or higher and without meaningful erosion 7.0%
- Goodwill from acquisitions does not grow faster than revenue 12.0%
- Net debt below twice EBITDA 1.2 x EBITDA
- Operating cash flow covers the profits of the last three years 2,013 m
- Return on capital at 15% or higher, or up versus two years ago 10.7%
- Insiders hold at least 10% or are net buyers 4.9%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
9/10 Quality stockThe AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 18.0%
- Exp. sales growth 3Y > 5% 13.2%
- EBIT growth 10Y > 5% 15.4%
- Exp. EBIT growth 3Y > 5% 46.0%
- Net debt < 4x EBIT 1.5x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 38.6%
- Return on equity > 15% 143.6%
- ROCE > 15% 10.7%
- Expected return > 10% 55.5%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 15, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 300 | 267.45 | 80,235 |
| Sep 15, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 200 | 266.78 | 53,356 |
| Sep 15, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 100 | 265.67 | 26,567 |
| Sep 15, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 400 | 264.31 | 105,724 |
| Sep 15, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 700 | 263.41 | 184,387 |
| Sep 15, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 800 | 262.76 | 210,208 |
| Aug 17, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 200 | 263.48 | 52,696 |
| Aug 17, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 100 | 261.97 | 26,197 |
| Aug 17, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 600 | 260.27 | 156,162 |
| Aug 17, 2026 | Polk Dennis | Chair, Hyve Solutions | Sell | 500 | 264.44 | 132,220 |
The company
About the Company
TD SYNNEX Corporation ist ein Distributor und Lösungsaggregator für das IT-Ökosystem in den USA, Europa und international. Es bietet Endpoint-Lösungen, darunter PCs und Peripheriegeräte, Mobiltelefone und Zubehör, Drucker und weitere an.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 24,000
- Headquarters
- Fremont, CA
- Address
- 44201 Nobel Drive, 94538 Fremont, United States
- Phone
- 510 668 3400
- Website
- tdsynnex.com
- IPO Date
- 11/25/2003
- ISIN
- US87162W1009
- Stock Split
- 2:1 on 12/01/2020
Management
| Name | Title | Birth Year |
|---|---|---|
| Patrick Zammit | CEO, President & Director | 1967 |
| David Jordan | CFO & EVP | 1988 |
| David R. Vetter J.D. | Chief Legal Officer & Corporate Secretary | 1960 |
| Dennis J. Polk | Hyve Solutions Chair & Executive Director | 1967 |
| Miriam Murphy | President of Europe | 1970 |
| John Henry | Senior VP & Chief Accounting Officer | 1976 |
| Sergio Farache | Chief Strategy and Technology Officer | – |
| Kristie Grinnell | Executive VP & Chief Information Officer | – |
| Nate Friedel | Head of Investor Relations | – |
| Alim Dhanji | Executive VP of Corporate Affairs & Chief Human Resources Officer | 1978 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/03/2026 TD SYNNEX CORP (SNX): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
- 07/16/2026 TD SYNNEX CORP (SNX): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.