Upside case
Bull case
$701+199.6%
SNX would need investors to value it at roughly 42x earnings — about 28x more generous than today's 14x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
TD SYNNEX Corporation (SNX) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
24
analysts
18 bullish · 1 bearish · 24 covering SNX
Strong Buy
1
Buy
17
Hold
5
Sell
1
Strong Sell
0
Consensus Target
$177
-24.4% vs today
Scenario Range
$184 – $701
Model bear to bull value window
Coverage
24
Published analyst ratings
Valuation Context
14.0x
Forward P/E · Market cap $18.9B
SNX price targets
Three scenarios for where SNX stock could go
Current
~$234
Confidence
58 / 100
Updated
May 1, 2026
Where we are now
Current · $234
Bear
$184
Base
$325
Bull
$701
Market caseClosest to today
Base case
$325+38.8%
At 19x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$184-21.2%
If investor confidence fades or macro conditions deteriorate, a 3x multiple contraction could push SNX down roughly 21% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
TD SYNNEX Corporation
SNX · NYSETechnologyTechnology DistributorsNovember year-end
TD SYNNEX is a global technology distributor and solutions aggregator that connects technology vendors with resellers and system integrators. It generates revenue primarily through product distribution — selling hardware, software, and cloud services — supplemented by logistics, financing, and marketing services that create additional value streams. The company's scale and extensive partner ecosystem — with thousands of vendor relationships and tens of thousands of reseller customers — create significant network effects and operational efficiencies that serve as its competitive moat.
Market Cap
$18.9B
Revenue TTM
$62.5B
Net Income TTM
$828M
Net Margin
1.3%
SNX Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
75%Exceptional
12 quarters tracked
Revenue Beat Rate
50%Exceptional
vs consensus estimates
Avg EPS Surprise
+8.6%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q1 2026
Q1 2026
Last 4 Quarters
EPS beats: 4 of 4Q2 2025
EPS
$2.99/$2.71
Revenue
$14.9B/$14.3B
Q3 2025
EPS
$3.58/$3.05
Revenue
$15.7B/$15.1B
Q1 2026
EPS
$3.83/$3.68
Revenue
$17.4B/$17.0B
Q1 2026
EPS
$4.73/$3.29
Revenue
$17.2B/$15.6B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $2.99/$2.71 | +10.3% | $14.9B/$14.3B | +4.4% |
| Q3 2025 | $3.58/$3.05 | +17.4% | $15.7B/$15.1B | +3.6% |
| Q1 2026 | $3.83/$3.68 | +4.1% | $17.4B/$17.0B | +2.5% |
| Q1 2026 | $4.73/$3.29 | +43.8% | $17.2B/$15.6B | +10.1% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$67.9B
+8.7% YoY
FY2
$73.3B
+7.9% YoY
EPS Outlook
FY1
$12.60
+23.2% YoY
FY2
$13.81
+9.6% YoY
Trailing FCF (TTM)$1.4B
FCF Margin: 2.2%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
SNX beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
SNX Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $57.9B
Product Mix
Latest annual revenue by segment or product family
Segment breakdown not available for this company.
Geographic Mix
Latest annual revenue by reported region
Americas Segment
62.5%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Americas Segment is the largest reported region at 62.5%, with no year-over-year comparison yet.
SNX Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fairly Valued
Fair value est. $218 — implies -4.3% from today's price.
Premium to Fair Value
4.3%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
SNX
23.5x
vs
S&P 500
25.2x
7% discount
vs Technology Trailing P/E
SNX
23.5x
vs
Technology
27.5x
14% discount
vs SNX 5Y Avg P/E
Today
23.5x
vs
5Y Average
15.3x
+53% premium
Forward PE
14.0x
S&P 500
19.1x
-27%
Technology
21.7x
-36%
5Y Avg
—
—
Trailing PE
23.5x
S&P 500
25.2x
-7%
Technology
27.5x
-14%
5Y Avg
15.3x
+53%
PEG Ratio
—
S&P 500
1.75x
—
Technology
1.47x
—
5Y Avg
—
—
EV/EBITDA
11.5x
S&P 500
15.3x
-25%
Technology
17.4x
-34%
5Y Avg
8.4x
+37%
Price/FCF
13.6x
S&P 500
21.3x
-36%
Technology
19.8x
-31%
5Y Avg
8.7x
+57%
Price/Sales
0.3x
S&P 500
3.1x
-90%
Technology
2.4x
-87%
5Y Avg
0.2x
+68%
Dividend Yield
0.76%
S&P 500
1.88%
-60%
Technology
1.18%
-36%
5Y Avg
1.18%
-36%
| Metric | SNX | S&P 500 | Technology | 5Y Avg SNX |
|---|---|---|---|---|
| Forward PE | 14.0x | 19.1x-27% | 21.7x-36% | — |
| Trailing PE | 23.5x | 25.2x | 27.5x-14% | 15.3x+53% |
| PEG Ratio | — | 1.75x | 1.47x | — |
| EV/EBITDA | 11.5x | 15.3x-25% | 17.4x-34% | 8.4x+37% |
| Price/FCF | 13.6x | 21.3x-36% | 19.8x-31% | 8.7x+57% |
| Price/Sales | 0.3x | 3.1x-90% | 2.4x-87% | 0.2x+68% |
| Dividend Yield | 0.76% | 1.88% | 1.18% | 1.18% |
SNX trades above S&P 500 benchmarks on 0 of 5 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolSNX Financial Health
Verdict
Adequate
SNX returns 4.1% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$62.5B
Revenue Growth
TTM vs prior year
+6.9%
Gross Margin
Gross profit as a share of revenue
6.5%
Operating Margin
Operating income divided by revenue
2.4%
Net Margin
Net income divided by revenue
1.3%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$10.23
Free Cash Flow (TTM)
Cash generation after capex
$1.4B
FCF Margin
FCF as share of revenue — the primary cash quality signal
2.2%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
9.9%
ROA
Return on assets, trailing twelve months
2.4%
Cash & Equivalents
Liquid assets on the balance sheet
$2.4B
Net Debt
Total debt minus cash
$2.2B
Debt Serviceability
Net debt as a multiple of annual free cash flow
1.6× FCF
~1.6 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
9.8%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
4.1%
Dividend
0.8%
Buyback
3.3%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$627M
Dividend / Share
Annualized trailing dividend per share
$1.78
Payout Ratio
Share of earnings distributed as dividends
17.7%
Shares Outstanding
Declining as buybacks retire shares
82M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageSNX Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Vendor Dependency
TD Synnex Corporation relies heavily on partnerships with major technology vendors like Cisco, Microsoft, and Dell. The loss of a significant vendor relationship could materially impact its business.
High Risk
Concentration Risk with OEMs
The company is reliant on a few major Original Equipment Manufacturers (OEMs) like Apple and HP, which contribute a substantial portion of revenue. Changes in supplier strategies or deterioration of these relationships could significantly impact financial performance.
High Risk
Regulatory Uncertainty
Synthetix faces increasing scrutiny from regulators globally, particularly in South Korea, which has led to temporary suspensions on exchanges. Policy uncertainties in different countries could impact Synthetix's operations and viability.
High Risk
Market Volatility
Synthetix, like other cryptocurrencies, is subject to high volatility and potential price manipulation. This inherent risk can lead to significant fluctuations in the value of SNX.
Medium
IT Spending Cyclicality
TD Synnex's performance is tied to the cyclical nature of IT spending and the timing of PC refresh cycles, which can negatively affect growth. Economic downturns may lead to reduced IT budgets.
Medium
Increasing Competition
While a market leader, TD Synnex faces increasing competition in the tech industry, particularly in cloud solutions aggregation and orchestration. This competitive pressure could impact market share and profitability.
Medium
Technical Risks
Synthetix is exposed to potential network security vulnerabilities, code defects, and smart contract risks. The platform's reliance on the Ethereum blockchain also means it's susceptible to high gas fees.
Lower
Operational and Reputational Concerns
A recent materiality assessment prioritizing diversity, equity, and inclusion (DE&I), along with environmental and governance concerns, suggests potential operational and reputational risks for TD Synnex.
Lower
Short History Risk
Synthetix has a relatively short history, making long-term predictions more uncertain. This lack of historical data can complicate risk assessments and investment decisions.
Lower
Complexity and Adoption
Synthetix's complex mechanics for collateralization and synthetic asset creation can create a steeper learning curve, potentially slowing mainstream adoption of the platform.
Lower
DeFi Derivatives Risks
As a derivatives platform, Synthetix carries risks inherent to derivatives, including leverage-related risks, similar to those seen in the 2008 financial crisis.
Lower
Security Risks
Synthetix is vulnerable to hacking and other threats concerning the protocol and its supporting blockchain. Flash loan attacks are a specific risk within the DeFi ecosystem that could impact Synthetix.
Lower
Supply and Demand Risks
Factors such as supply, demand, maturity, utility, and liquidity directly influence SNX's value and the stability of the Synthetix ecosystem.
Lower
Concentration Risk
A significant portion of SNX supply is held by a small number of large investors ('whales'), which can impact market liquidity and price stability.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why SNX Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Pioneering Role in DeFi
Synthetix is a leader in the decentralized synthetic assets and derivatives space, offering exposure to real-world assets through its platform. This pioneering position allows it to capture a significant share of a rapidly growing market.
Robust Tokenomics and Utility
SNX serves as the utility, governance, and revenue-sharing token for the Synthetix ecosystem. Holders can stake SNX to collateralize synthetic assets, earn trading fees, and participate in protocol governance through voting on proposals.
Evolving Tokenomics with Buyback and Burn
Synthetix has introduced a buyback-and-burn mechanism where a portion of trading fees is used to repurchase SNX from the open market and permanently remove it from circulation. This mechanism aims to reduce supply and potentially increase value over time.
Strategic Partnerships and Ecosystem Growth
Synthetix is actively integrating with other DeFi protocols, such as Lyra and Kwenta. These partnerships expand the utility of SNX and drive fee generation for stakers and the DAO.
Synthetix V3 Enhancements
The upcoming Synthetix V3 is designed to address liquidity fragmentation and allow protocols to create their own assets on Synthetix. This further unifies the collateral pool and incentivizes liquidity.
Strong Community Governance
SNX holders have an active voice in the project's direction through its decentralized autonomous organizations (DAOs), fostering a strong and engaged community.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
SNX Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$233.99
52W Range Position
98%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$112.27
+108.4% from the low
52-Week High
$236.00
-0.9% from the high
1 Month
+21.17%
3 Month
+36.53%
YTD
+52.5%
1 Year
+104.9%
3Y CAGR
+38.6%
5Y CAGR
+14.1%
10Y CAGR
+19.4%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
SNX vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
14.0x
vs 10.4x median
+35% above peer median
Revenue Growth
+8.7%
vs +3.5% median
+147% above peer median
Net Margin
1.3%
vs 1.9% median
-28% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
SNX SNX TD SYNNEX Corporation | $18.9B | 14.0x | +8.7% | 1.3% | Buy | -24.4% |
AVT AVT Avnet, Inc. | $6.9B | 16.8x | -1.8% | 0.9% | Hold | -5.2% |
ARW ARW Arrow Electronics, Inc. | $9.8B | 13.6x | +5.3% | 1.9% | Hold | -32.9% |
ING INGM Ingram Micro Holding Corporation | $6.2B | 8.4x | +3.6% | 0.7% | Buy | +7.2% |
CDW CDW CDW Corporation | $14.1B | 10.4x | +3.5% | 4.7% | Buy | +49.0% |
SCS SCSC ScanSource, Inc. | $886M | 10.4x | -3.9% | 2.4% | Hold | +5.1% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
SNX Dividend and Capital Return
SNX returns capital mainly through $627M/year in buybacks (3.3% buyback yield), with a modest 0.76% dividend — combining for 4.1% total shareholder yield. The dividend has grown for 5 consecutive years.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
4.1%
Dividend + buyback return per year
Buyback Yield
3.3%
Dividend Yield
0.76%
Payout Ratio
17.7%
How SNX Splits Its Return
Div 0.76%
Buyback 3.3%
Dividend 0.76%Buybacks 3.3%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$1.78
Growth Streak
Consecutive years of dividend increases
5Y
3Y Div CAGR
13.6%
5Y Div CAGR
54.4%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$627M
Estimated Shares Retired
3M
Approx. Share Reduction
3.3%
Shares Outstanding
Current diluted share count from the screening snapshot
82M
At 3.3%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.96 | — | — | — |
| 2025 | $1.76 | +10.0% | 5.0% | 6.2% |
| 2024 | $1.60 | +14.3% | 6.2% | 7.6% |
| 2023 | $1.40 | +16.7% | 7.0% | 8.4% |
| 2022 | $1.20 | +50.0% | 1.4% | 2.6% |
FAQ
7 questionsSNX Investor Questions
Common questions answered from live analyst data and company financials.
01Is TD SYNNEX Corporation (SNX) stock a buy or sell in 2026?
TD SYNNEX Corporation (SNX) is rated Buy by Wall Street analysts as of 2026. Of 24 analysts covering the stock, 18 rate it Buy or Strong Buy, 5 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $177, implying -24.4% from the current price of $234. The bear case scenario is $184 and the bull case is $701.
02What is the SNX stock price target for 2026?
The Wall Street consensus price target for SNX is $177 based on 24 analyst estimates. The high-end target is $193 (-17.5% from today), and the low-end target is $163 (-30.3%). The base case model target is $325.
03Is TD SYNNEX Corporation (SNX) stock overvalued in 2026?
SNX trades at 14.0x times forward earnings. The stock's valuation is broadly in line with the broader market. Based on current multiples versus the peer group, the relative model signals fairly valued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for TD SYNNEX Corporation (SNX) stock in 2026?
The primary risks for SNX in 2026 are: (1) Vendor Dependency — TD Synnex Corporation relies heavily on partnerships with major technology vendors like Cisco, Microsoft, and Dell. (2) Concentration Risk with OEMs — The company is reliant on a few major Original Equipment Manufacturers (OEMs) like Apple and HP, which contribute a substantial portion of revenue. (3) Regulatory Uncertainty — Synthetix faces increasing scrutiny from regulators globally, particularly in South Korea, which has led to temporary suspensions on exchanges. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is TD SYNNEX Corporation's revenue and earnings forecast?
Analyst consensus estimates SNX will report consensus revenue of $67.9B (+8.7% year-over-year) and EPS of $12.60 (+23.2% year-over-year) for the upcoming fiscal year. The following year, analysts project $73.3B in revenue.
06When does TD SYNNEX Corporation (SNX) report its next earnings?
A confirmed upcoming earnings date for SNX is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does TD SYNNEX Corporation generate?
TD SYNNEX Corporation (SNX) generated $1.4B in free cash flow over the trailing twelve months — a free cash flow margin of 2.2%. SNX returns capital to shareholders through dividends (0.8% yield) and share repurchases ($627M TTM).