SNX
TD SYNNEX Corporation
SNX's fundamentals are strong: revenue grew 24% and earnings per share grew 78%. At 15x earnings, it's trading in line with its usual 16x. Analysts expect that strong growth to continue, though they disagree widely on how much.
SNX Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Under pressure | |
| Stable |
SNX's revenue and profitability are currently healthy, and its balance sheet is stable, but its cash flow is under pressure.
SNX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 10x | $243 | — |
| Cheap | 14x | $223 | -8.2% |
| Current | 15x | $243 | — |
| Fair | 16x | $259 | +6.7% |
| Expensive | 18x | $287 | +18% |
Historical ranges are pointers, not guarantees.
SNX's PE is in its cheap range at 15x. If earnings grow as analysts expect, today's price would be 10x next year's earnings.
SNX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for SNX, with profitability holding steady. However, they disagree widely on these estimates.
SNX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $23.63 | +44% |
| Q3 2026 | $16.39 | +78% |
| Q2 2026 | $13.95 | +63% |
| Q1 2026 | $12.01 | +50% |
| Q4 2025 | $9.95 | +25% |
| Q3 2025 | $9.21 | +19% |
| Q2 2025 | $8.55 | +20% |
| Q1 2025 | $8.00 | +16% |
| Q4 2024 | $7.95 | +19% |
SNX's earnings per share have climbed steadily: $16.39 over the past year, up 78% from the year before, and higher year over year for 10 quarters in a row.
SNX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $21.6B | +38% |
| Q2 2026 | $19.6B | +31% |
| Q1 2026 | $17.2B | +18% |
| Q4 2025 | $17.4B | +9.7% |
| Q3 2025 | $15.7B | +6.6% |
| Q2 2025 | $14.9B | +7.2% |
| Q1 2025 | $14.5B | +4% |
| Q4 2024 | $15.8B | +10% |
SNX's revenue has grown year over year for nine quarters in a row: $21.6B last quarter, up 38% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3% | +0.5 points |
| Q2 2026 | 2.6% | +0.4 points |
| Q1 2026 | 2.9% | +0.8 points |
| Q4 2025 | 2.3% | +0.2 points |
| Q3 2025 | 2.5% | +0.4 points |
| Q2 2025 | 2.2% | +0.3 points |
| Q1 2025 | 2.1% | -0.1 points |
| Q4 2024 | 2% | +0.1 points |
SNX's operating margin was 3% last quarter, up 0.5 points from the same quarter a year ago.
SNX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$975.6M | -556% |
| Q2 2026 | -$332.4M | -161% |
| Q1 2026 | -$929M | -$139.5M |
| Q4 2025 | $1.4B | +177% |
| Q3 2025 | $213.9M | -37% |
| Q2 2025 | $542.9M | +$695.5M |
| Q1 2025 | -$789.5M | -330% |
| Q4 2024 | $512.9M | +205% |
SNX's free cash flow has turned negative after years in the green: −$815M over the past year.
SNX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -342K shares |
| 1 year | -3% | -2.5M shares |
| 3 years | -15% | -13.5M shares |
| 5 years | +54% | +27.7M shares |
| Available history | -22% | -22.5M shares |
SNX has 79M diluted shares, down 3% from a year ago, with $465M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $100.3M |
| Q2 2026 | $112.4M |
| Q1 2026 | $79.7M |
| Q4 2025 | $173M |
| Q3 2025 | $173.8M |
| Q2 2025 | $148.8M |
| Q1 2025 | $100.5M |
| Q4 2024 | $102M |
SNX spent $465M buying back its own shares over the past year, down 11% from the year before.
SNX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 1.6x | Healthy |
| Q1 2026 | 1.6x | Healthy |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | 1.9x | Healthy |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 2.4x | Moderate |
| Q4 2024 | 1.8x | Healthy |
SNX's net debt is about 1.9 years of its operating earnings (EBITDA), about the same as a year ago.
SNX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.0 | Neutral |
| Stochastic | 17.1 | Oversold |
SNX's weekly RSI is 50 (neutral) and its Stochastic is 17 (oversold).
SNX PE vs Technology Sector
| Metric | SNX | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 28x | 47% below |
| PE % | 30 | 35 | 5 pts below |
SNX is trading at 15x earnings, a 47% discount to the Technology sector's median of 28x.
SNX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $250.8 | 3.3% below |
| 20 week MA | $252.9 | 4.1% below |
| 50 week MA | $216.8 | 12% above |
| 100 week MA | $176.2 | 38% above |
| 200 week MA | $141.2 | 72% above |
SNX has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 72% above its 200-week average.
SNX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $64.6 | $82.7 | +28% |
| 2021 | $82.7 | $113.2 | +37% |
| 2022 | $113.2 | $95.2 | -16% |
| 2023 | $95.2 | $107.6 | +13% |
| 2024 | $107.6 | $118.3 | +10% |
| 2025 | $118.3 | $154.9 | +31% |
| 2026 YTD | $154.9 | $242.5 | +57% |
SNX has finished higher in five of the last six years. It's up 57% so far in 2026.