TD Synnex

SNX

Technology Distributors · Technology

Price

$242.62

-0.97 (-0.40%)

Market Cap

$19.40B

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+31.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 62.7M (2021) → 82.4M (2025)

TD SYNNEX is a technology distributor. It buys products like laptops, servers, software, and networking equipment from big tech companies like Cisco, HP, and Microsoft, then resells them to smaller businesses, retailers, and IT service providers. It is one of the two largest technology distributors in the world, alongside Arrow Electronics and Ingram Micro.

TD SYNNEX makes money by buying products in bulk at a discount and selling them at a slightly higher price, keeping a thin margin on each transaction. It operates across North America, Europe, and Asia-Pacific, generating roughly $58 billion in annual revenue. Its main advantage is scale — the sheer size of its distribution network makes it hard for smaller competitors to match its pricing or reach. The biggest risk is that its profit margins are very thin, meaning any slowdown in IT spending by businesses or pricing pressure from suppliers could quickly hurt earnings.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+18.1% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+104.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

8.1%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~5 months

$1.6B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

TD Synnex has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

7.3%

Thin — 7.3% gross margin

Operating Margin

2.9%

Thin — 2.9% operating margin

ROCE

4.9%

Weak — 4.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+10.4%

Steady sales growth (10.4% YoY)

EPS YoY

+50.5%

Earnings growing fast (50.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

140%

Turns 140% of profit into real cash

FCF Margin

1.9%

Thin free cash flow (1.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.13

Conservative — low debt load (0.13)

Interest Cover

4.73x

Adequate interest coverage (4.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

20.1x

Growth-priced — P/E 20.1

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+3.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (20.1 → 16.6)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

0.65%

Small dividend — 0.65% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+9.5%

Dividend growing modestly (9.5% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial