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Large IT distributor supplying hardware, software and cloud services from tech vendors to resellers and businesses worldwide.
Large IT distributor supplying hardware, software and cloud services from tech vendors to resellers and businesses worldwide.
Buys technology products from manufacturers and software makers and resells them to resellers at a small markup, adding fees for storage, configuring, shipping and credit terms. It was formed by the 2021 merger of Tech Data and SYNNEX, after SYNNEX spun off its customer-service arm Concentrix in 2020.
Moat: narrow (scale, distribution, switching costs). Massive vendor/reseller network and logistics scale that's costly for a new entrant to match.
Headquarters: Clearwater, Florida, US · Founded: 2021 · Employees: 24,000
Size TD SYNNEX (SNX) is a United States Information Technology company (Electronics Distributors) with a market value of $17.4B, the 536th largest of 3,117 United States companies the cockpit tracks. Shares closed at $218.73 on 6 Nov 2026.
Performance Over six months the shares fell 8.5%, against -9.2% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 7 in its peer set.
Growth Revenue grew 24.1% over the last twelve months (peer median +36.4%); the operating margin is 2.7% (peer median 3.7%).
Valuation It trades at 9.3× forward earnings against a peer median of 6.9× (3rd most expensive of 7).
Capital Return on invested capital runs 1.1 points above its cost of capital (10.4% WACC).
Credit TD SYNNEX has 5 bonds outstanding ($2.85B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 122 bp.
Short interest Short interest is 2.4% of the free float (15 Oct 2026).
Next results Next results expected around 12 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $75.7B | $62.5B | $58.5B | $57.6B | $62.3B |
| Revenue growth | — | +7% | +2% | -8% | — |
| Gross profit | $4.79B | $4.00B | $3.54B | $3.58B | $3.56B |
| EBITDA | $2.47B | $1.88B | $1.64B | $1.75B | $1.70B |
| Net income | $1.31B | $820M | $683M | $622M | $647M |
| Free cash flow | -$815M | $1.39B | $1.04B | $1.26B | -$167M |
| Capital expenditure | $197M | $142M | $175M | $150M | $117M |
| Total debt | $5.52B | $5.08B | $4.40B | $4.55B | $4.53B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| TD SYNNEX SNX | $17.4B | -9% | +24% | 3% | 9.3× | n/a |
| Arrow Electronics ARW | $9.22B | -7% | +26% | 4% | 7.4× | 0.1% |
| Ingram Micro INGM | $5.85B | -6% | +15% | 2% | 6.8× | 2.9% |
| Avnet AVT | $6.52B | -3% | +44% | 4% | 5.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SNX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.2% | -20.3% | 3rd highest of 7 |
| 6-month return | -8.5% | -9.2% | 4th highest of 7 |
| Distance from 52-week high | -26.8% | -29.1% | 2nd highest of 7 |
| Revenue growth (TTM) | +24.1% | +36.4% | 2nd lowest of 7 |
| Operating margin | 2.7% | 3.7% | 3rd lowest of 7 |
| Forward P/E | 9.3× | 6.9× | 3rd most expensive of 7 |
| ROIC minus cost of capital | +1.1 pp | +7.5 pp | lowest of 7 |
| Net debt / EBITDA | 1.9× | 1.3× | 3rd most indebted of 6 |
| Bond spread | 122 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TD SYNNEX SNX | United States | $17.4B | -9% | +24% | 3% | 9.3× | n/a | n/a |
| Arrow Electronics ARW | United States | $9.22B | -7% | +26% | 4% | 7.4× | 0.1% | +1.5% |
| WT Microelectronics 3036.TW | Taiwan | $7.53B | -11% | +70% | 2% | 6.3× | -11.9% | +27.2% |
| Avnet AVT | United States | $6.52B | -3% | +44% | 4% | 5.5× | n/a | n/a |
| Puya Semiconductor (Shanghai) 688766.SS | China | $5.30B | -12% | +323% | 37% | 13.0× | 15.2% | +26.5% |
| Canon Marketing Japan 8060.T | Japan | $5.26B | +5% | +3% | 10% | 17.1× | -7.2% | +4.5% |
| WPG 3702.TW | Taiwan | $4.78B | -12% | +29% | 2% | 4.4× | n/a | n/a |
TD SYNNEX has 5 bonds outstanding with $2.85B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.88%, a spread of 122 bp over government bonds.