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TD SYNNEX Corporation

SNX Technology Electronics & Computer Distribution

TD SYNNEX Corporation’s revenue for fiscal 2025 (year ended November 2025) was $62.5 billion, up 6.94% from fiscal 2024.

Revenue: +37.8%
EPS: +88.4%
Free cash flow: −556.1%
Total debt: +30.3%

Quarter to August 2026, against a year earlier

Dividend growth 10 yrs

218.73 3.36 +1.56%

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Market cap: $17.2B
P/E: 13.3×
Fwd P/E: 11.8×
Dividend yield: 0.88%
F-score: 7/9
Altman Z: 2.54
Beneish M: −2.54
Dividend safety: 89/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

TD SYNNEX Corporation (SNX) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2024: revenue by regions, and margins
Americas	34,792	59.52%
Europe	19,634	33.59%
APJ	4,026	6.89%
Gross margin		6.81%
Operating margin		2.04%
Pre-tax margin		1.48%

Revenue by product or service $m

Line	FY2018	FY2017	FY2016
Product	17,323 87.63%	14,796 88.22%	12,490 88.83%
Service	2,445 12.37%	1,975 11.78%	1,571 11.17%
Revenue	19,768	16,771	14,062

Gross profit by product or service $m, and margin

	FY2018	FY2017	FY2016
Product	‡	‡	‡
Service	‡	‡	‡
Gross profit	‡	‡	‡
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Revenue by segment $m

Line	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Technology Solutions	19,977 100.00%	19,070 100.00%	17,323 87.63%	14,797 88.23%	12,491 88.83%	11,937 89.49%	12,756 92.17%	10,666 98.35%	10,136 98.54%	10,275 98.71%	8,526 98.98%	7,639 98.96%
Concentrix	4,699 23.52%	4,687 24.58%	2,463 12.46%	1,990 11.87%	1,588 11.29%	1,417 10.62%	1,096 7.92%	189 1.75%	160 1.55%	163 1.57%	112 1.30%	101 1.31%
Intersegment Eliminations	—	—	—	—	(17) (0.12%)	(15) (0.11%)	(12) (0.09%)	(11) (0.10%)	(10) (0.10%)	(29) (0.28%)	(25) (0.28%)	(21) (0.27%)
Eliminations	(4,698) (23.52%)	(4,687) (24.58%)	—	—	—	—	—	—	—	—	—	—
Revenue	19,977	19,070	19,768	16,771	14,062	13,338	13,840	10,845	10,286	10,410	8,614	7,719

Operating income by segment $m, and margin

	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Technology Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Concentrix	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intersegment Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2013	FY2012	FY2011	FY2010	FY2009
Americas	34,792 59.52%	34,574 60.07%	38,791 62.22%	23,317 73.76%	17,845 89.33%	16,861 88.42%	—	—	—	—	—
Europe	19,634 33.59%	19,422 33.75%	20,289 32.54%	6,201 19.62%	700 3.51%	973 5.10%	—	—	—	—	—
APJ	4,026 6.89%	3,559 6.18%	3,263 5.23%	2,096 6.63%	1,432 7.17%	1,236 6.48%	1,189 10.96%	1,237 12.03%	1,284 12.33%	67 0.78%	61 0.80%
North America	—	—	—	—	—	—	9,520 87.78%	8,973 87.24%	9,030 86.74%	8,467 98.29%	7,571 98.08%
Segment, Geographical, Groups of Countries, Group Three	—	—	—	—	—	—	137 1.26%	76 0.74%	97 0.93%	80 0.93%	87 1.13%
Revenue	58,452	57,555	62,344	31,614	19,977	19,070	10,845	10,286	10,410	8,614	7,719

Operating income by segment $m, and margin

	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2013	FY2012	FY2011	FY2010	FY2009
Americas	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Europe	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
APJ	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Cash conversion cycle	Q4 FY2025	16.00	18.00	−11.11%
Days inventory outstanding	Q4 FY2025	53.00	51.00	+3.92%
Days payable outstanding	Q4 FY2025	98.00	93.00	+5.38%
Days sales outstanding	Q4 FY2025	61.00	60.00	+1.67%
Gross to net %	Q3 FY2026	−32.3%	−31.1%	—
Non-GAAP gross billings	Q3 FY2026	$31.8B	$22.7B	+40.02%
Non-GAAP gross billings, Americas	Q4 FY2025	$14.1B	$12.9B	+9.34%
Non-GAAP gross billings, Asia-Pacific and Japan	Q4 FY2025	$1.8B	$1.4B	+34.18%
Non-GAAP gross billings, Europe	Q4 FY2025	$8.4B	$7.0B	+20.78%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Cash conversion cycle	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Days inventory outstanding	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Days payable outstanding	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Days sales outstanding	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross to net %	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non-GAAP gross billings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non-GAAP gross billings, Americas	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non-GAAP gross billings, Asia-Pacific and Japan	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non-GAAP gross billings, Europe	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.

TD SYNNEX Corporation (SNX) revenue by segment, product and region

Where the money comes from and where it goes

Revenue by product or service $m

Gross profit by product or service $m, and margin

Revenue by segment $m

Operating income by segment $m, and margin

Revenue by region $m

Operating income by segment $m, and margin

Operating figures as reported in each quarter’s results release or filing

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