TD Synnex (SNX)
Market Price (4/11/2026): $199.73 | Market Cap: $16.0 BilSector: Information Technology | Industry: Technology Distributors
TD Synnex (SNX)
Market Price (4/11/2026): $199.73Market Cap: $16.0 BilSector: Information TechnologyIndustry: Technology Distributors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%, FCF Yield is 7.8% Stock buyback supportStock Buyback 3Y Total is 1.9 Bil Low stock price volatilityVol 12M is 31% Megatrend and thematic driversMegatrends include Cloud Computing, Cybersecurity, and Artificial Intelligence. Themes include Hybrid Cloud Solutions, Show more. | Trading close to highsDist 52W High is -0.3%, Dist 3Y High is -0.3% | Key risksSNX key risks include [1] vulnerability from structurally thin operating margins amid intense competition and [2] an over-reliance on a concentrated number of key suppliers and customers. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%, FCF Yield is 7.8% |
| Stock buyback supportStock Buyback 3Y Total is 1.9 Bil |
| Low stock price volatilityVol 12M is 31% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Cybersecurity, and Artificial Intelligence. Themes include Hybrid Cloud Solutions, Show more. |
| Trading close to highsDist 52W High is -0.3%, Dist 3Y High is -0.3% |
| Key risksSNX key risks include [1] vulnerability from structurally thin operating margins amid intense competition and [2] an over-reliance on a concentrated number of key suppliers and customers. |
Qualitative Assessment
AI Analysis | Feedback
TD Synnex (SNX) stock has gained about 35% since 12/31/2025 because of the following key factors:
1. Record-breaking fiscal Q1 2026 financial performance significantly exceeded market expectations.
TD Synnex reported robust results for its fiscal first quarter ended February 28, 2026, on March 31, 2026. The company's non-GAAP diluted earnings per share (EPS) reached $4.73, surpassing the consensus estimate of $3.24 by $1.49, marking a 68.9% increase year-over-year. Revenue for the quarter climbed to $17.2 billion, an 18.1% rise from the previous year, notably exceeding analysts' projections of approximately $15.6 billion. This strong performance, which included a 25.5% increase in gross profit to $1.25 billion and a 60.7% surge in operating income to $489 million, was largely driven by robust demand across both its core distribution and Hyve Solutions businesses. These results demonstrate effective cost management and strong execution within the IT ecosystem, particularly in AI infrastructure and cloud computing solutions. The stock gained approximately 21.73% from December 31, 2025, to April 6, 2026, with year-to-date returns reported around 24.45% to 24.82% by early April 2026.
2. Strong fiscal Q2 2026 guidance and sustained demand for high-growth technology solutions fueled investor confidence.
Following its impressive Q1 results, TD Synnex provided an optimistic outlook for fiscal Q2 2026, guiding for revenue between $16.1 billion and $16.9 billion and non-GAAP diluted EPS of $3.75 to $4.25. This guidance indicated continued profitability and growth, even considering typical seasonal patterns. The company highlighted strong demand for hyperscaler services, advancements in AI infrastructure, and expanding cloud-based offerings as key drivers of its performance. Additionally, the strategic realignment of its reportable segments to better reflect its global distribution business and Hyve Solutions further supported its ability to capitalize on these evolving technology trends.
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1. Record-breaking fiscal Q1 2026 financial performance significantly exceeded market expectations.
TD Synnex reported robust results for its fiscal first quarter ended February 28, 2026, on March 31, 2026. The company's non-GAAP diluted earnings per share (EPS) reached $4.73, surpassing the consensus estimate of $3.24 by $1.49, marking a 68.9% increase year-over-year. Revenue for the quarter climbed to $17.2 billion, an 18.1% rise from the previous year, notably exceeding analysts' projections of approximately $15.6 billion. This strong performance, which included a 25.5% increase in gross profit to $1.25 billion and a 60.7% surge in operating income to $489 million, was largely driven by robust demand across both its core distribution and Hyve Solutions businesses. These results demonstrate effective cost management and strong execution within the IT ecosystem, particularly in AI infrastructure and cloud computing solutions. The stock gained approximately 21.73% from December 31, 2025, to April 6, 2026, with year-to-date returns reported around 24.45% to 24.82% by early April 2026.
2. Strong fiscal Q2 2026 guidance and sustained demand for high-growth technology solutions fueled investor confidence.
Following its impressive Q1 results, TD Synnex provided an optimistic outlook for fiscal Q2 2026, guiding for revenue between $16.1 billion and $16.9 billion and non-GAAP diluted EPS of $3.75 to $4.25. This guidance indicated continued profitability and growth, even considering typical seasonal patterns. The company highlighted strong demand for hyperscaler services, advancements in AI infrastructure, and expanding cloud-based offerings as key drivers of its performance. Additionally, the strategic realignment of its reportable segments to better reflect its global distribution business and Hyve Solutions further supported its ability to capitalize on these evolving technology trends.
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Stock Movement Drivers
Fundamental Drivers
The 33.3% change in SNX stock from 12/31/2025 to 4/10/2026 was primarily driven by a 19.4% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 149.75 | 199.69 | 33.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 60,974 | 65,138 | 6.8% |
| Net Income Margin (%) | 1.3% | 1.5% | 19.4% |
| P/E Multiple | 15.8 | 16.2 | 2.5% |
| Shares Outstanding (Mil) | 82 | 80 | 2.0% |
| Cumulative Contribution | 33.3% |
Market Drivers
12/31/2025 to 4/10/2026| Return | Correlation | |
|---|---|---|
| SNX | 33.3% | |
| Market (SPY) | -5.4% | 60.2% |
| Sector (XLK) | -0.9% | 57.9% |
Fundamental Drivers
The 22.7% change in SNX stock from 9/30/2025 to 4/10/2026 was primarily driven by a 25.3% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 162.76 | 199.69 | 22.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 60,007 | 65,138 | 8.5% |
| Net Income Margin (%) | 1.2% | 1.5% | 25.3% |
| P/E Multiple | 18.5 | 16.2 | -12.7% |
| Shares Outstanding (Mil) | 83 | 80 | 3.3% |
| Cumulative Contribution | 22.7% |
Market Drivers
9/30/2025 to 4/10/2026| Return | Correlation | |
|---|---|---|
| SNX | 22.7% | |
| Market (SPY) | -2.9% | 61.8% |
| Sector (XLK) | 1.4% | 59.8% |
Fundamental Drivers
The 94.7% change in SNX stock from 3/31/2025 to 4/10/2026 was primarily driven by a 29.1% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 102.57 | 199.69 | 94.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 58,452 | 65,138 | 11.4% |
| Net Income Margin (%) | 1.2% | 1.5% | 28.5% |
| P/E Multiple | 12.5 | 16.2 | 29.1% |
| Shares Outstanding (Mil) | 84 | 80 | 5.3% |
| Cumulative Contribution | 94.7% |
Market Drivers
3/31/2025 to 4/10/2026| Return | Correlation | |
|---|---|---|
| SNX | 94.7% | |
| Market (SPY) | 16.3% | 69.0% |
| Sector (XLK) | 38.8% | 68.2% |
Fundamental Drivers
The 115.1% change in SNX stock from 3/31/2023 to 4/10/2026 was primarily driven by a 45.0% change in the company's Net Income Margin (%).| (LTM values as of) | 3312023 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 92.83 | 199.69 | 115.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 62,344 | 65,138 | 4.5% |
| Net Income Margin (%) | 1.0% | 1.5% | 45.0% |
| P/E Multiple | 13.5 | 16.2 | 19.7% |
| Shares Outstanding (Mil) | 95 | 80 | 18.6% |
| Cumulative Contribution | 115.1% |
Market Drivers
3/31/2023 to 4/10/2026| Return | Correlation | |
|---|---|---|
| SNX | 115.1% | |
| Market (SPY) | 63.3% | 53.3% |
| Sector (XLK) | 92.6% | 49.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SNX Return | 41% | -16% | 15% | 11% | 30% | 33% | 161% |
| Peers Return | 30% | -5% | 38% | -7% | -18% | 14% | 48% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| SNX Win Rate | 67% | 42% | 67% | 58% | 58% | 75% | |
| Peers Win Rate | 72% | 45% | 68% | 47% | 35% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SNX Max Drawdown | -1% | -28% | -8% | -8% | -18% | -2% | |
| Peers Max Drawdown | -3% | -20% | -6% | -15% | -26% | -8% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CDW, ARW, AVT, NSIT, CNXN. See SNX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/10/2026 (YTD)
How Low Can It Go
| Event | SNX | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -37.2% | -25.4% |
| % Gain to Breakeven | 59.3% | 34.1% |
| Time to Breakeven | 602 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -56.1% | -33.9% |
| % Gain to Breakeven | 127.6% | 51.3% |
| Time to Breakeven | 201 days | 148 days |
| 2018 Correction | ||
| % Loss | -47.9% | -19.8% |
| % Gain to Breakeven | 92.0% | 24.7% |
| Time to Breakeven | 409 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -67.3% | -56.8% |
| % Gain to Breakeven | 205.5% | 131.3% |
| Time to Breakeven | 168 days | 1,480 days |
Compare to CDW, ARW, AVT, NSIT, CNXN
In The Past
TD Synnex's stock fell -37.2% during the 2022 Inflation Shock from a high on 8/30/2021. A -37.2% loss requires a 59.3% gain to breakeven.
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About TD Synnex (SNX)
TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products. It also provides systems design and integration solutions, build-to-order, and configure-to-order assembly capabilities; logistics services that comprise outsourced fulfillment, virtual distribution, and direct ship to end-users; cloud services; online services; and financing services comprising net terms, third party leasing, floor plan financing, and letters of credit backed financing and arrangements. In addition, the company offers marketing services, such as direct mail, external media advertising, reseller product training, targeted telemarketing campaigns, trade shows, trade groups, database analysis, print on demand services, and web-based marketing. It serves resellers, system integrators, and retailers. The company was formerly known as SYNNEX Corporation and changed its name to TD SYNNEX Corporation in September 2021. TD SYNNEX Corporation was incorporated in 1980 and is headquartered in Fremont, California.
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Here are 1-2 brief analogies for TD Synnex:
- Sysco for technology: Just as Sysco distributes a vast array of food products and supplies to restaurants and institutions, TD Synnex distributes a comprehensive range of technology hardware, software, and services to IT resellers, system integrators, and retailers.
- Amazon for the B2B technology supply chain: Similar to how Amazon provides extensive distribution, logistics, and an array of services for consumers and businesses, TD Synnex acts as a critical, behind-the-scenes partner, managing the entire supply chain for technology products and solutions for businesses that then serve end-users.
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- Technology Hardware Distribution: Distributes a broad range of hardware including PC systems, mobile phones, printers, peripherals, consumer electronics, and IT systems like servers, storage, networking, and security equipment.
- Software Distribution: Provides endpoint technology software and other IT system software.
- IT Solution Services: Offers systems design and integration solutions, including build-to-order and configure-to-order assembly capabilities.
- Logistics & Fulfillment Services: Delivers outsourced fulfillment, virtual distribution, and direct shipping to end-users.
- Cloud & Online Services: Provides cloud and various online services to support businesses.
- Financing Solutions: Offers financial services such as net terms, third-party leasing, floor plan financing, and letters of credit.
- Marketing Support Services: Provides comprehensive marketing services including advertising, reseller product training, telemarketing campaigns, and web-based marketing.
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TD Synnex (SNX) primarily sells to other companies.
Based on the provided company description, its major customers fall into the following categories of businesses:
- Resellers
- System Integrators
- Retailers
The background information does not provide specific names of individual customer companies or their public symbols within these categories.
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- HP Inc. (HPQ)
- Intel Corporation (INTC)
- Microsoft Corporation (MSFT)
- Apple Inc. (AAPL)
- Cisco Systems, Inc. (CSCO)
- Dell Technologies Inc. (DELL)
- Alphabet Inc. (GOOGL)
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Patrick Zammit, Chief Executive Officer
Patrick Zammit was named Chief Operating Officer in November 2023, effective January 1, and subsequently became Chief Executive Officer of TD SYNNEX on September 1, 2024, succeeding Rich Hume. Prior to this, he served as President, Europe & APJ for TD SYNNEX. Before joining Tech Data (which merged to form TD SYNNEX), Mr. Zammit held various management roles at Avnet, including Global President and President, EMEA Marketing, and was a Senior Consultant at Arthur Andersen. He was involved with Tech Data when it went private in partnership with Apollo Asset Management before its merger with SYNNEX.
David Jordan, Executive Vice President and Chief Financial Officer
David Jordan was appointed Executive Vice President and Chief Financial Officer of TD SYNNEX on October 2, 2025, succeeding Marshall Witt. Mr. Jordan joined TD SYNNEX in 2014 and has held a variety of senior finance roles, including Americas CFO since 2021. He brings strong commercial acumen, M&A experience, and a focus on capital optimization to the role.
Sergio Farache, Chief Strategy and Technology Officer
Sergio Farache serves as the Chief Strategy and Technology Officer for TD SYNNEX. He previously held the position of Tech Data Executive Vice President, Strategy, and NextGen (Cloud, Security, Data & IoT), where he provided global leadership for the company's overall strategy, innovation, and strategic next-generation technology business. Earlier in his career at Tech Data, he was the Senior Vice President, Strategy, and Global Cloud Solutions.
Miriam Murphy, President, Europe
Miriam Murphy is the President of Europe for TD SYNNEX, driving growth across the European segment. She led Tech Data's European region from 2017 until the TD SYNNEX merger.
Reyna Thompson, President, North America
Reyna Thompson serves as the President, North America, managing TD SYNNEX's largest regional market.
AI Analysis | Feedback
The key risks to TD Synnex's business include intense competitive pressures leading to margin compression, significant dependence on a limited number of suppliers, and the cyclical nature of IT spending influenced by macroeconomic conditions.
Key Risks to TD Synnex (SNX)
- Competitive Pressures and Margin Compression: TD Synnex operates in a highly competitive global IT distribution market, facing rivalry from major international distributors and niche specialists. This intense competition can lead to price wars, which pressure pricing, credit terms, and logistics, potentially resulting in margin compression and affecting profitability. The business is characterized by low gross profit and operating margins as a percentage of revenue.
- Supplier Dependence and Potential Disintermediation: The company relies heavily on a limited number of OEM suppliers for the products it distributes. A deterioration of these critical relationships, consolidation among suppliers, or an increasing trend of suppliers selling directly to end-users (bypassing distributors) could materially impact TD Synnex's gross billings and overall business.
- Economic Cyclicality and Fluctuations in IT Spending: TD Synnex's revenue and operating results are significantly influenced by general economic conditions and the overall level of IT spending. The IT industry is cyclical, and demand for products and services is often tied to broader economic health, making the company susceptible to economic downturns or delays in technology refresh cycles.
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TD Synnex (symbol: SNX) operates within several significant addressable markets for its main products and services. These include the broader IT distribution market, cloud services, and IT professional services.
IT Distribution
- The global technology distributors sector generated total revenues of $207.6 billion in 2022, with projections extending to 2027.
- In North America, sales through the IT distribution channel reached a record $24.3 billion in Q4 2025, contributing to full-year 2025 revenues that rose by 6.2%. North American IT distribution revenues were $19.9 billion in Q1 2025 and $21.8 billion in Q2 2025.
- TD Synnex itself holds an estimated over 25% distribution market share for core IT infrastructure products in North America.
Cloud Services
- The global cloud services market was valued at approximately $618.04 billion in 2024, with forecasts indicating growth to about $2,726.94 billion by 2034, at a Compound Annual Growth Rate (CAGR) of 16.00% from 2025 to 2034. Another estimate places the global cloud services market at $773.29 billion in 2024, projected to reach $3,152.63 billion by 2033 with a CAGR of 16.9% from 2026.
- Worldwide end-user spending on public cloud services is anticipated to reach $675.4 billion in 2024.
- In North America, the cloud computing market was valued at approximately $353.56 billion in 2024. The North America public cloud market generated revenues of $362.33 billion in 2025. The U.S. Cloud Services Market alone is projected at $210.8 billion in 2024.
IT Professional Services and Systems Integration
- The global IT professional services market was estimated at $924.87 billion in 2024 and is projected to grow to approximately $1.6 trillion by 2030, at a CAGR of 9.5% from 2025. Another source indicates the global IT professional services market size was $1,044.97 billion in 2025, expected to reach around $2,565.16 billion by 2035.
- North America represented the largest segment of the global IT professional services market in 2024, accounting for 36.6% of the total market. The North America IT professional services market size reached $362.54 billion in 2025.
Logistics Services for IT (High-tech Logistics)
- The global high-tech logistics market was valued at $47.7 billion in 2024, with a projected CAGR of 14.5% between 2025 and 2034. The U.S. market accounted for a 75% revenue share in this sector in 2024.
- The global digital logistics market is projected to grow from $43.89 billion in 2026 to $155.29 billion by 2034. North America held the largest share of the global digital logistics market, with 35.40% in 2025.
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Below are the expected drivers of future revenue growth for TD Synnex (SNX) over the next 2-3 years:- Increasing Demand for Strategic Technologies: TD Synnex is poised to benefit from the ongoing digital transformation, with an anticipated increase in demand for cloud computing, Artificial Intelligence (AI), data analytics, and cybersecurity solutions. The company is actively expanding its Advanced Solutions portfolio and leveraging marketplaces like StreamOne/Cloud Marketplace to capitalize on these high-growth areas.
- Growth in Hyperscale Data Center and AI Infrastructure (Hyve): The Hyve segment, which focuses on designing and building hyperscale data center infrastructure, is an accelerating growth driver. This growth is fueled by robust demand from hyperscalers and the continuous build-out of AI and cloud infrastructure.
- Ongoing PC Refresh Cycle, including AI PCs: The company anticipates continued revenue growth from the sustained PC refresh cycle, particularly driven by the increasing demand for AI-enabled personal computers within its Endpoint Solutions segment.
- Expansion of Services and Solutions Aggregation: TD Synnex is strategically shifting towards offering higher-value services and subscription-based models, transitioning from a traditional distributor to a solutions aggregator. This includes providing digital enablement and focusing on "as-a-service" offerings, which are expected to contribute significantly to future revenue.
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Share Repurchases
- In March 2024, TD Synnex authorized a new $2.0 billion share repurchase program.
- The company repurchased 4.4 million shares for $596.1 million in fiscal 2025.
- As of November 30, 2025, TD Synnex completed the repurchase of 6,286,433 shares for $811.98 million under a buyback announced in March 2024.
Share Issuance
- The formation of TD SYNNEX in September 2021 involved former SYNNEX shareholders owning 55% and Apollo Global Management, the previous owner of Tech Data, owning 45% of the combined company.
- In April 2024, a secondary public offering of 5,309,299 shares owned by Apollo Global Management affiliates was announced, marking their exit as stockholders, with TD Synnex not selling any shares or receiving proceeds.
- In January 2024, a secondary public offering of 7.625 million shares held by Apollo Global Management affiliates was announced, with TD Synnex repurchasing 1.375 million shares as part of this offering.
Inbound Investments
- The merger in September 2021 that created TD SYNNEX resulted in Apollo Global Management, the former owner of Tech Data, holding a 45% ownership stake in the newly combined company.
Outbound Investments
- TD Synnex acquired Apptium Technologies for approximately $105.1 million to enhance its technology solutions orchestration strategy.
- In January 2026, TD SYNNEX completed the acquisition of the AV, unified communications, and gaming business divisions from Exclusive Networks Poland.
- The company plans to continue its strategic acquisition strategy to enhance its capabilities and expand its geographic footprint.
Capital Expenditures
- In the last 12 months (as of March 2026), capital expenditures for TD Synnex were -$142.28 million.
- TD SYNNEX invested $38.3 million in capital expenditures in Q4 2025, which was an 18.8% increase from the prior quarter.
- The company is expected to invest in the global hybrid cloud market and artificial intelligence for future net sales growth.
Latest Trefis Analyses
Trade Ideas
Select ideas related to SNX.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | PANW | Palo Alto Networks | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 03312026 | ALKT | Alkami Technology | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03272026 | DBX | Dropbox | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 2.6% | 2.6% | 0.0% |
| 03272026 | DLB | Dolby Laboratories | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 03272026 | PTC | PTC | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 10312022 | SNX | TD Synnex | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | -1.4% | 1.6% | -4.3% |
| 03312020 | SNX | TD Synnex | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 81.1% | 214.3% | -7.5% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 97.16 |
| Mkt Cap | 6.8 |
| Rev LTM | 22,787 |
| Op Inc LTM | 776 |
| FCF LTM | 249 |
| FCF 3Y Avg | 511 |
| CFO LTM | 324 |
| CFO 3Y Avg | 605 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.9% |
| Rev Chg 3Y Avg | -3.3% |
| Rev Chg Q | 8.9% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Mgn LTM | 3.5% |
| Op Mgn 3Y Avg | 3.8% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 2.2% |
| CFO/Rev 3Y Avg | 3.8% |
| FCF/Rev LTM | 2.0% |
| FCF/Rev 3Y Avg | 3.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.8 |
| P/S | 0.3 |
| P/EBIT | 9.9 |
| P/E | 15.7 |
| P/CFO | 14.7 |
| Total Yield | 6.7% |
| Dividend Yield | 0.6% |
| FCF Yield 3Y Avg | 8.6% |
| D/E | 0.4 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 7.7% |
| 3M Rtn | 20.1% |
| 6M Rtn | 19.2% |
| 12M Rtn | 28.9% |
| 3Y Rtn | 37.8% |
| 1M Excs Rtn | 7.0% |
| 3M Excs Rtn | 22.7% |
| 6M Excs Rtn | 13.2% |
| 12M Excs Rtn | -0.4% |
| 3Y Excs Rtn | -29.2% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $199.69 | |
| Market Cap ($ Bil) | 16.1 | |
| First Trading Date | 11/25/2003 | |
| Distance from 52W High | -0.3% | |
| 50 Days | 200 Days | |
| DMA Price | $164.63 | $153.31 |
| DMA Trend | up | up |
| Distance from DMA | 21.3% | 30.3% |
| 3M | 1YR | |
| Volatility | 38.8% | 29.0% |
| Downside Capture | -0.14 | 0.42 |
| Upside Capture | 172.98 | 140.89 |
| Correlation (SPY) | 49.3% | 56.7% |
SNX Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.31 | 1.51 | 1.51 | 1.35 | 1.08 | 0.97 |
| Up Beta | 0.82 | 1.55 | 1.37 | 1.39 | 1.01 | 0.98 |
| Down Beta | 2.43 | 2.32 | 1.93 | 1.43 | 1.03 | 0.90 |
| Up Capture | 132% | 149% | 180% | 140% | 165% | 107% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 11 | 23 | 35 | 69 | 142 | 404 |
| Down Capture | 40% | 93% | 100% | 124% | 105% | 100% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 11 | 19 | 28 | 57 | 110 | 345 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SNX | |
|---|---|---|---|---|
| SNX | 108.7% | 30.7% | 2.40 | - |
| Sector ETF (XLK) | 59.7% | 25.3% | 1.80 | 65.9% |
| Equity (SPY) | 31.2% | 17.3% | 1.47 | 67.2% |
| Gold (GLD) | 60.1% | 27.8% | 1.69 | 12.3% |
| Commodities (DBC) | 29.8% | 16.6% | 1.58 | 18.7% |
| Real Estate (VNQ) | 21.3% | 15.2% | 1.07 | 38.0% |
| Bitcoin (BTCUSD) | -5.7% | 43.7% | -0.01 | 38.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SNX | |
|---|---|---|---|---|
| SNX | 12.1% | 29.2% | 0.42 | - |
| Sector ETF (XLK) | 16.5% | 24.7% | 0.60 | 56.9% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 62.9% |
| Gold (GLD) | 22.1% | 17.8% | 1.02 | 10.6% |
| Commodities (DBC) | 11.8% | 18.8% | 0.52 | 21.9% |
| Real Estate (VNQ) | 3.7% | 18.8% | 0.10 | 45.9% |
| Bitcoin (BTCUSD) | 4.0% | 56.5% | 0.29 | 23.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SNX | |
|---|---|---|---|---|
| SNX | 17.0% | 34.4% | 0.55 | - |
| Sector ETF (XLK) | 21.7% | 24.3% | 0.82 | 55.7% |
| Equity (SPY) | 13.8% | 17.9% | 0.66 | 60.8% |
| Gold (GLD) | 14.2% | 15.9% | 0.74 | 3.5% |
| Commodities (DBC) | 8.6% | 17.6% | 0.41 | 24.9% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.22 | 45.5% |
| Bitcoin (BTCUSD) | 67.4% | 66.9% | 1.07 | 15.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/31/2026 | 5.4% | 22.1% | |
| 1/8/2026 | -2.3% | -0.6% | 13.9% |
| 9/25/2025 | 6.2% | 9.3% | 2.3% |
| 6/24/2025 | 7.3% | 6.3% | 14.7% |
| 3/27/2025 | -14.3% | -14.9% | -11.1% |
| 1/10/2025 | 9.8% | 12.3% | 17.7% |
| 9/26/2024 | 1.2% | -0.6% | 3.3% |
| 6/25/2024 | -9.6% | -11.9% | -9.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 13 |
| # Negative | 10 | 12 | 10 |
| Median Positive | 5.6% | 10.1% | 6.9% |
| Median Negative | -5.3% | -4.2% | -6.7% |
| Max Positive | 14.6% | 22.1% | 22.0% |
| Max Negative | -14.3% | -14.9% | -11.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 04/02/2026 | 10-Q |
| 11/30/2025 | 01/27/2026 | 10-K |
| 08/31/2025 | 10/01/2025 | 10-Q |
| 05/31/2025 | 07/02/2025 | 10-Q |
| 02/28/2025 | 04/02/2025 | 10-Q |
| 11/30/2024 | 01/24/2025 | 10-K |
| 08/31/2024 | 10/03/2024 | 10-Q |
| 05/31/2024 | 07/03/2024 | 10-Q |
| 02/29/2024 | 04/04/2024 | 10-Q |
| 11/30/2023 | 01/26/2024 | 10-K |
| 08/31/2023 | 10/03/2023 | 10-Q |
| 05/31/2023 | 07/06/2023 | 10-Q |
| 02/28/2023 | 04/05/2023 | 10-Q |
| 11/30/2022 | 01/24/2023 | 10-K |
| 08/31/2022 | 10/04/2022 | 10-Q |
| 05/31/2022 | 07/07/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 3/31/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 16.10 Bil | 16.50 Bil | 16.90 Bil | 6.4% | Higher New | Guidance: 15.50 Bil for Q1 2026 | |
| Q2 2026 Non-GAAP gross billings | 24.60 Bil | 25.10 Bil | 25.60 Bil | 8.2% | Higher New | Guidance: 23.20 Bil for Q1 2026 | |
| Q2 2026 Net income | 234.00 Mil | 254.00 Mil | 274.00 Mil | 36.6% | Higher New | Guidance: 186.00 Mil for Q1 2026 | |
| Q2 2026 Non-GAAP net income | 302.00 Mil | 322.00 Mil | 342.00 Mil | 22.4% | Higher New | Guidance: 263.00 Mil for Q1 2026 | |
| Q2 2026 Diluted earnings per share | 2.9 | 3.15 | 3.4 | 37.0% | Higher New | Guidance: 2.3 for Q1 2026 | |
| Q2 2026 Non-GAAP diluted earnings per share | 3.75 | 4 | 4.25 | 23.1% | Higher New | Guidance: 3.25 for Q1 2026 | |
Prior: Q4 2025 Earnings Reported 1/8/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 15.10 Bil | 15.50 Bil | 15.90 Bil | -8.3% | Lower New | Guidance: 16.90 Bil for Q4 2025 | |
| Q1 2026 Non-GAAP gross billings | 22.70 Bil | 23.20 Bil | 23.70 Bil | -1.3% | Lower New | Guidance: 23.50 Bil for Q4 2025 | |
| Q1 2026 Net income | 166.00 Mil | 186.00 Mil | 206.00 Mil | -17.1% | Lower New | Guidance: 224.50 Mil for Q4 2025 | |
| Q1 2026 Non-GAAP net income | 243.00 Mil | 263.00 Mil | 283.00 Mil | -12.8% | Lower New | Guidance: 301.50 Mil for Q4 2025 | |
| Q1 2026 Diluted earnings per share | 2.05 | 2.3 | 2.55 | -16.4% | Lower New | Guidance: 2.75 for Q4 2025 | |
| Q1 2026 Non-GAAP diluted earnings per share | 3 | 3.25 | 3.5 | -12.2% | Lower New | Guidance: 3.7 for Q4 2025 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hume, Richard T | Direct | Sell | 1062026 | 153.77 | 5,000 | 768,853 | 7,306,406 | Form | |
| 2 | Polk, Dennis | Hyve Solutions Executive | Trust | Sell | 1062026 | 153.79 | 2,853 | 438,754 | 11,196,769 | Form |
| 3 | Saintil, Merline | Direct | Sell | 12052025 | 153.38 | 168 | 25,768 | 1,098,508 | Form | |
| 4 | Polk, Dennis | Hyve Solutions Executive | Trust | Sell | 12052025 | 155.03 | 3,000 | 465,086 | 11,729,482 | Form |
| 5 | Hume, Richard T | Direct | Sell | 12022025 | 152.11 | 5,000 | 760,547 | 7,988,026 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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