TD SYNNEX Corporation
- Open
- 251.33
- Day high
- 260.47
- Day low
- 247.17
- Prev close
- 253.06
- Volume
- 187K
- Mkt cap
- $20.5B
- P/E (TTM)
- 18.2
- EPS (TTM)
- $14.33
- P/B
- 2.3
- P/S
- 0.3
- Yield
- 0.38%
- Per share
- $0.96
- ▼Insiders net selling -$11.3M over the last 3 months (0 open-market buys, 37 sales)
- 🏛Institutions accumulating (13F)
TD SYNNEX Corporation (SNX) is a Technology company listed on NYSE. The stock is up 71% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 37 sales (SEC Form 4). Drillr has 3 published research articles covering SNX.
TD SYNNEX Corporation (SNX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SNX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 25, 2026 | $4.14 | $4.85 | +17.1% | $19.6B | +16.5% |
| Mar 31, 2026 | $3.29 | $4.73 | +43.8% | $17.2B | +10.1% |
| Sep 25, 2025 | $3.05 | $3.58 | +17.4% | $15.7B | +3.6% |
| Jun 24, 2025 | $2.71 | $2.99 | +10.3% | $14.9B | +4.4% |
| Mar 27, 2025 | $2.91 | $2.80 | -3.8% | $14.5B | -1.7% |
| Sep 26, 2024 | $2.80 | $2.86 | +2.1% | $14.7B | +4.0% |
| Jan 9, 2024 | $2.69 | $3.13 | +16.4% | $14.4B | -0.5% |
| Jan 10, 2023 | $2.92 | $3.44 | +17.8% | $16.2B | +2.9% |
| Mar 24, 2022 | $2.74 | $3.03 | +10.6% | $15.5B | +1.4% |
| Jun 24, 2021 | $1.93 | $2.09 | +8.3% | $5.9B | +18.0% |
| Mar 22, 2021 | $1.69 | $1.89 | +11.8% | $4.9B | +5.2% |
| Jun 25, 2020 | $0.51 | $1.83 | +258.8% | $5.5B | +137.7% |
SNX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 18, 2026 | POLK DENNISdirector, officer: Chair, Hyve Solutions | Sell | 500 | $259.58 |
| Aug 18, 2026 | POLK DENNISdirector, officer: Chair, Hyve Solutions | Sell | 400 | $258.68 |
| Aug 18, 2026 | POLK DENNISdirector, officer: Chair, Hyve Solutions | Sell | 200 | $262.39 |
| Aug 18, 2026 | POLK DENNISdirector, officer: Chair, Hyve Solutions | Sell | 100 | $261.97 |
| Aug 18, 2026 | POLK DENNISdirector, officer: Chair, Hyve Solutions | Sell | 600 | $260.27 |
| Aug 6, 2026 | HUME RICHARD Tdirector | Sell | 635 | $262.46 |
| Aug 6, 2026 | HUME RICHARD Tdirector | Sell | 173 | $258.70 |
| Aug 6, 2026 | HUME RICHARD Tdirector | Sell | 818 | $261.53 |
| Aug 6, 2026 | HUME RICHARD Tdirector | Sell | 1,212 | $264.45 |
| Aug 6, 2026 | HUME RICHARD Tdirector | Sell | 668 | $260.53 |
| Aug 6, 2026 | HUME RICHARD Tdirector | Sell | 587 | $259.48 |
| Aug 6, 2026 | HUME RICHARD Tdirector | Sell | 907 | $263.33 |
| Jul 31, 2026 | VEZINA ANN Fdirector | Sell | 1,273 | $256.05 |
| Jul 17, 2026 | Britt Douglasdirector | Grant | 629 | — |
| Jul 16, 2026 | POLK DENNISdirector, officer: Chair, Hyve Solutions | Sell | 268 | $249.73 |
Source: SNX SEC Form 4 filings, latest Aug 18, 2026. For informational purposes only — not investment advice.
See the full SNX insider & 13F page →SNX research & analysis
[SNX] TD SYNNEX Compounds IT Distribution Franchise Through Spending Cycle And Cloud And AI Mix
TD SYNNEX Corporation is a Fremont, California-headquartered information-technology distributor that was formed through the combination of two large IT distributors and is one of the leading global IT distribution and solutions-aggregation companies. The business connects the technology vendors, the manufacturers and publishers of hardware, software, and cloud services, with a broad ecosystem of channel partners including resellers, systems integrators, managed-service providers, and solution providers, providing the distribution, logistics, aggregation, financing, and technical services that allow the channel partners to source and deliver technology solutions to end customers. The business spans the breadth of the technology stack, with distribution covering hardware including PCs, servers, networking, and peripherals, software, cloud services, and an expanding set of higher-value solutions including cybersecurity, data-center, hyperscale-infrastructure, and adjacent solution areas. On selected various aggregate disclosure, the fiscal 2025 financial profile reflects total revenue at the very large scale characteristic of a leading global IT distributor, an operating margin profile reflecting the thin-margin, high-volume nature of the distribution model, and a balance-sheet position consistent with a working-capital-intensive distribution company. The IT distribution and solutions aggregation core franchise anchors revenue, supported by the distribution business producing a very large revenue base reflecting the high-volume nature of the model, by the scale and breadth of the franchise producing a structural advantage through the vendor and channel relationships and the logistics, financing, and technical-services infrastructure, and by the solutions-aggregation capability extending the franchise toward the higher-value solutions. The multi-cycle IT spending cycle combined with the cloud and AI solutions mix drives the multi-year trajectory, with the IT spending cycle reflecting the cyclicality of the IT-spending environment that follows the end-customer activity across PC, server, networking, software, and cloud categories, and the cloud and AI solutions mix reflecting the mix shift toward higher-value solution areas including the cloud services and the AI-related infrastructure and solutions. Capital structure is consistent with a working-capital-intensive distributor, and a capital allocation framework that has balanced reinvestment with a return of capital to shareholders through dividends and share repurchases. The bull case anchors on the scale and breadth of the distribution franchise, the higher-value solutions mix, and the cash-generative model; the bear case anchors on the thin-margin nature of distribution, the cyclicality of IT spending, and the competitive intensity.
IT Distribution Consolidates Around Two Global Partners
Ingram Micro and TD SYNNEX each confirmed HPE named them its only two global distribution partners for its full networking, cloud and AI portfolio.
ARWCDWINGMNvidia AI Server Price Hike Pushes Memory Costs Down the Chain
Nvidia has told customers AI server prices rise more than 15% on systems shipping from early 2027, moving memory inflation into list prices.
ARWAVTMU
TD SYNNEX Corporation company profile
Overview
TD SYNNEX Corporation (NASDAQ:SNX) is a leading global technology distributor that was formed through the merger of SYNNEX Corporation and Tech Data Corporation in 2021. Originally incorporated as SYNNEX in 1980 and headquartered in Fremont, California, the company has evolved from a regional technology distributor into one of the world's largest IT distribution and services companies. The merger created a global powerhouse that connects technology vendors with resellers, system integrators, and end customers across more than 100 countries, serving over 30,000 active partners and reaching approximately 500,000 end users worldwide.
Business
TD SYNNEX operates in the technology distribution industry, which serves as the critical intermediary layer between technology manufacturers and the businesses that sell to end customers. The company acts as a wholesale distributor, purchasing technology products from major vendors like Microsoft, HP, Cisco, and NVIDIA, then reselling them to a network of channel partners including resellers, system integrators, and retailers who ultimately serve end customers. The company operates through two primary business segments that together generated approximately $58.5 billion in revenue in fiscal 2024: 1. **Endpoint Solutions** (~60% of revenue): This segment distributes traditional computing devices and peripherals including personal computers, laptops, mobile phones and accessories, printers, peripherals, and consumer electronics. This represents the more mature, stable portion of the business that serves the broad commercial and consumer technology markets. 2. **Advanced Solutions** (~40% of revenue): This higher-growth segment focuses on enterprise infrastructure technologies including data center servers, storage solutions, networking equipment, cybersecurity products, cloud services, and specialized software. Within this segment is the Hyve business, which provides hyperscale infrastructure solutions for large cloud service providers and data center operators. The company also provides value-added services including systems design and integration, build-to-order and configure-to-order assembly, logistics and fulfillment services, cloud platform services through their StreamOne platform, financing services, and marketing support. These services help differentiate TD SYNNEX from pure commodity distributors by providing additional value to both vendors and channel partners. Strategic technologies including cloud computing, cybersecurity, and data analytics now represent approximately 25% of total gross billings and are growing at double-digit rates, positioning the company to benefit from major technology trends including artificial intelligence adoption.
Revenue model
TD SYNNEX operates on a traditional distribution business model where it makes money primarily through product sales margins and service fees. The company purchases technology products from vendors at wholesale prices and resells them to channel partners at marked-up prices, earning gross margins typically in the low-to-mid single digits on hardware and higher margins on software and services. The company's paying customers are primarily channel partners including value-added resellers (VARs), system integrators, managed service providers, and retailers who then sell to end customers. TD SYNNEX also provides various value-added services including financing, logistics, marketing support, and technical services, which generate additional service-based revenue streams with higher margins than pure product distribution. Several factors influence the company's margins and profitability. Positive margin drivers include the shift toward higher-margin advanced solutions and strategic technologies, growth in software and services revenue which carry better margins than hardware, vendor incentive programs and rebates, and the company's scale advantages in purchasing and logistics. Geographic expansion into higher-growth markets and the successful integration of acquisitions also support margin expansion. Margin pressures come from intense competition in the distribution industry, commodity pricing pressure on hardware products, economic downturns that reduce IT spending, and the need to pass through vendor price increases to maintain relationships. The cyclical nature of technology refresh cycles, particularly in PCs and enterprise infrastructure, creates variability in demand and margins. Additionally, the company must continuously invest in digital platforms, logistics capabilities, and specialized technical expertise to maintain competitiveness, which can pressure short-term margins while building long-term value. The business benefits from relatively predictable cash flows due to its essential role in the technology supply chain, though working capital requirements can create seasonal cash flow variations as inventory levels fluctuate with demand cycles.
Competitive moat
TD SYNNEX possesses a moderate but meaningful competitive moat built primarily on scale advantages, vendor relationships, and network effects. The company's enormous scale as one of the world's largest technology distributors provides significant advantages including better pricing from vendors, more comprehensive product portfolios, and the ability to invest in sophisticated logistics and digital platforms that smaller competitors cannot match. The company's vendor relationships represent a key moat component, as technology manufacturers prefer working with distributors who can provide global reach, financial stability, and comprehensive channel support. These relationships often involve exclusive or preferred distribution agreements, vendor certification requirements, and co-investment in marketing and technical resources that create switching costs for both vendors and channel partners. Network effects strengthen the moat as TD SYNNEX's large base of channel partners attracts more vendors seeking broad market access, while its comprehensive vendor portfolio attracts more channel partners seeking one-stop shopping. The company's investments in digital platforms like StreamOne and specialized services create additional switching costs for partners who integrate these tools into their operations. However, the moat faces several challenges. The technology distribution industry is inherently low-margin and competitive, with limited differentiation on core distribution services. Large vendors like Microsoft and Amazon have the scale to potentially bypass distributors through direct sales channels, though they continue to rely on the channel for broad market coverage. Cloud computing and software-as-a-service models can reduce the need for traditional hardware distribution, though they also create new opportunities in cloud services and software distribution. The emergence of direct-to-customer models and e-commerce platforms poses a potential long-term threat, though the complexity of enterprise technology solutions and the need for local support and financing services help protect the distribution model. Overall, while TD SYNNEX's moat is not impregnable, its scale, relationships, and specialized capabilities provide meaningful competitive advantages in a market that continues to value the services that distributors provide.
Risks & safety
TD SYNNEX demonstrates **moderate financial safety** with adequate liquidity but working capital intensity that creates cash flow volatility. **Liquidity and Solvency:** - Cash and short-term investments of $542 million as of Q1 2025 - Current ratio of 1.27, indicating adequate short-term liquidity - Debt-to-equity ratio of 0.54, representing manageable leverage levels - Strong credit profile supported by essential role in technology supply chain **Cash Flow Characteristics:** - Free cash flow of -$790 million in Q1 2025 due to seasonal working capital build - Full-year fiscal 2024 free cash flow of $1.04 billion, demonstrating underlying cash generation - Target of $1.1 billion free cash flow for fiscal 2025 - Working capital intensity creates quarterly volatility but annual cash generation remains strong **Valuation Metrics:** - Trading at 17.2x P/E ratio based on recent earnings - EV/EBITDA of 9.4x, reasonable for a mature distribution business - Price-to-book ratio of 1.43, indicating modest premium to book value **Other Considerations:** - Cyclical business model tied to IT spending cycles creates earnings volatility - Geographic and product diversification provides some stability - Strong market position and vendor relationships support business continuity
Recent development
Over the past few years, TD SYNNEX has executed several key strategic initiatives focused on expanding its technological capabilities and market reach. The company has made significant investments in artificial intelligence positioning, launching initiatives like "Destination AI" to help channel partners adopt AI technologies and establishing partnerships with key AI infrastructure providers including NVIDIA. This AI focus spans multiple technology categories from hardware infrastructure to software solutions. The company has substantially expanded its digital platform capabilities, particularly through the StreamOne cloud platform which provides comprehensive IT service management and marketplace syndication with major cloud providers like Microsoft Azure and AWS. Recent innovations include the Digital Bridge Microsoft Teams app and the expansion of the PACE platform for personalized customer insights, aimed at reducing transaction costs and automating partner interactions. Geographic expansion has been a major focus, with particularly strong growth in Asia Pacific markets including India and Japan, as well as continued investment in Latin American operations. The company has successfully integrated the 2021 merger with Tech Data, achieving $145 million in cost synergies while expanding its global footprint to serve over 30,000 active partners worldwide. The Hyve hyperscale infrastructure business represents a significant growth investment, though it has faced recent challenges with temporary demand pauses and component shipment delays. Despite near-term headwinds, management remains committed to this specialized engineering-intensive business that serves major cloud service providers and data center operators. Strategic technology investments have focused on expanding the company's portfolio in cloud computing, cybersecurity, and data analytics, which now represent 25% of total gross billings and are growing at double-digit rates. The company has also enhanced its services capabilities including systems integration, financing, and marketing support to differentiate itself from pure commodity distributors.
SNX company profile · for informational purposes only — not investment advice.
Track SNX with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free