TD SYNNEX CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TD SYNNEX CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	14,062	17,046	20,054	19,070	19,977	31,614	62,344	57,555	58,452	62,508
Cost of revenue	963	1,233	1,514	17,913	18,783	29,725	58,444	53,599	54,471	58,139
Gross profit	1,283	1,549	1,927	1,157	1,194	1,890	3,900	3,957	3,981	4,369
Selling, general and administrative	903	1,042	1,377	637	665	1,154	2,627	2,673	2,716	2,947
Operating income	380	507	550	519	521	623	1,051	1,078	1,194	1,415
Interest expense	31.1	47.4	92.9	173	133			288	319	357
Other non-operating income	5.46	1.12	-8.98	28.1	-6.17	1.1	-1.17	-0.21	-8.72	-1.06
Pre-tax income	356	463	457	473	436	466	827	790	866	1,057
Income tax	121	163	157	111	102	71.4	176	163	177	230
Income from continuing operations				362	335	395	651
Net income to minority interests	0.06	0
Net income	235	300	300	501	529	395	651	627	689	828
EBITDA	501	667	776	892	863	775	1,514	1,496	1,602	1,829
EPS, basic	5.91	7.52	7.21	9.79	10.28	6.28	6.79	6.72	7.99	9.99
EPS, diluted	5.88	7.48	7.17	9.74	10.21	6.24	6.77	6.70	7.95	9.95
Shares, basic (weighted)	39.3	39.6	41.2	50.7	50.9	62.2	95.2	92.6	85.5	82.1
Shares, diluted (weighted)	39.5	39.8	41.5	50.9	51.2	62.7	95.5	92.9	85.9	82.4
Dividend per share	0.85	1.05	1.40	1.50	0.40	0.80	1.20	1.40	1.60	1.76

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	381	551	455	226	1,412	994	523	1,034	1,059	2,435
Short-term investments	5.11	5.48	2.58
Receivables	1,756	2,846	3,640	3,927	2,792	8,310	9,421	10,298	10,342	11,708
Inventory	1,742	2,163	2,393	2,547	2,684	6,643	9,067	7,146	8,287	9,504
Other current assets	105	169	323	385	174	668	672	642	679	669
Total current assets	3,995	5,740	7,163	7,453	8,769	17,734	20,501	20,084	21,325	25,289
Property, plant and equipment	313	347	571	570	158	483	421	450	457	496
Lease right-of-use assets					70.6	447	406	451	472	441
Goodwill	486	873	2,203	2,254	424	3,917	3,804	3,904	3,895	4,099
Intangible assets	299	583	1,377	1,162	186	4,913	4,423	4,244	3,912	3,775
Other non-current assets	64.2	125	152	161	178	618	585	730	685	591
Total assets	5,215	7,756	11,543	11,698	13,469	27,666	29,734	29,413	30,274	34,251
Accounts payable	1,683	2,627	3,048	3,149	3,751	12,035	13,989	13,347	15,084	17,624
Accrued liabilities	217	354	673	724	768	2,017	2,172	2,408	1,966	2,318
Short-term debt	363	805	833	299	125	181	268	984	171	1,018
Total current liabilities	2,477	4,041	4,954	4,607	5,630	14,233	16,429	16,739	17,221	20,961
Long-term debt	601	1,136	2,623	2,718	1,497	3,955	3,836	3,099	3,736	3,592
Lease liabilities					53.1	353	334	373	391	362
Other non-current liabilities	103	124	325	362	130	556	502	499	469	448
Total liabilities	3,239	5,415	8,108	7,910	9,130	19,760	21,708	21,230	22,239	25,800
Total debt	967	1,136	2,623	2,718	1,497	3,955	3,836	3,099	3,736	3,592
Paid-in capital	441	468	1,512	1,545	1,592	7,271	7,374	7,435	7,438	7,431
Retained earnings	1,695	1,955	2,199	2,625	3,133	1,172	1,708	2,205	2,756	3,437
Treasury stock	-67.3	-77.1	-150	-173	-191	-201	-337	-950	-1,513	-2,039
Other comprehensive income	-93.1	-61.9	-126	-209	-195	-336	-720	-507	-645	-379
Shareholders' equity	1,976	2,287	3,435	3,788	4,339	7,906	8,026	8,183	8,035	8,450
Minority interests	0.02	0
Total equity	1,976	2,287	3,435	3,788	4,339	7,906	8,026	8,183	8,035	8,450
Total liabilities and equity	5,215	7,699	11,543	11,698	13,469	27,666	29,734	29,413	30,274	34,251

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	235	300	300	501	529	395	651	627	689	828
Depreciation and amortization	121	160	225	372	342	152	463	418	408	414
Stock-based compensation	14	17.4	22.7	28	33.2	53.2	91.2	85	69.2	66.4
Deferred income tax	-7.41	-25.9	-47.1	-6.82	-16.5	-0.32	-92.4	-91.6	-28.8	-46.8
Change in receivables	95	-376	-451	-327	12.7	-517	-1,498	-657	-196	-1,118
Change in inventory	-410	-261	-366	-153	-129	-1,030	-2,637	2,032	-1,215	-1,052
Change in payables	266	342	382	98.4	685	1,855	2,376	-972	1,930	2,176
Cash from operations	325	177	101	550	1,834	810	-49.6	1,407	1,218	1,532
Capital expenditures	-123	-97.5	-125	-137	-26.6	-39.7	-65.3	-150	-175	-142
Acquisitions	-415	-527	-1,070	-9.43	-5.56	-907	0	0	-43.7	-83.7
Purchases of investments	-92.3	-12.9	-0.07
Sales and maturities of investments	92.5	10.6
Cash from investing	-532	-654	-1,180	-147	-209	-952	-116	-156	-194	-221
Debt repaid					-1,304	-2,278	-129	-74.4	-1,486	-599
Stock issued	5.16	1.4	1.56	1.91	9.02	10.5	3.22	4.45	6.68	19.6
Share buybacks	-6.92	0	-66	-15.2	-3.41	0	-125	-621	-612	-596
Dividends paid	-33.7	-41.8	-59.7	-76.6	-20.8	-50.3	-115	-130	-138	-146
Cash from financing	180	639	1,001	-632	-292	-393	-276	-786	-953	-32.9
Exchange rate effect	-10.4	8.41	-17	-2.27	4.55	-38.8	-31.4	45.8	-45.2	98.3
Net change in cash	-37.5	170	-94.7	-231	1,338	-574	-472	511	25.6	1,376
Free cash flow	201	79.2	-24.6	412	1,808	770	-115	1,257	1,043	1,389
Interest paid	21.9	36.8	88.6	156	121	117	221	318	359	374
Income taxes paid	102	137	145	236	180	174	178	283	241	223

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to May 31, 2026; growth uses fiscal years. Valuation uses the share price of $263.03 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	7.0%	Gross profit / revenue.
Operating margin	2.6%	Operating income / revenue.
EBITDA margin	3.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.1%	Pre-tax income / revenue.
Net margin	1.6%	Net income / revenue.
FCF margin	0.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	0.8%	Cash from operations / revenue.
Effective tax rate	22.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.0%	Net income / average total assets.
Return on invested capital (ROIC)	12.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	4.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.2%	Capital expenditures / revenue.
D&A / revenue	0.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	25.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	29.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	18.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	10.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	22.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	14.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	6.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	16.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	20.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	8.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	9.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	25.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	13.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-0.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	25.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-3.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	33.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-5.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	10.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	13.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	34.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	5.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	1.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	14.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	13.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	20.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-4.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	10.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.20x	Current assets / current liabilities.
Quick ratio	0.57x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.04x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.40x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	9.3%	Total debt / total assets.
Liabilities / assets	76.8%	Total liabilities / total assets.
Net debt	$2.50B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.13x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$4.92B	Current assets - current liabilities.
Goodwill and intangibles / assets	20.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.19B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.81x	Revenue / average total assets.
Fixed asset turnover	129x	Revenue / average property, plant and equipment.
Inventory turnover	4.67x	Cost of revenue / average inventory.
Days inventory	78 days	365 x average inventory / cost of revenue.
Receivables turnover	5.37x	Revenue / average receivables.
Days sales outstanding	68 days	365 x average receivables / revenue.
Days payables	119 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	27 days	Days inventory + days sales outstanding - days payables.
FCF conversion	33.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	31.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$14.25	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$874.76	Revenue / diluted weighted shares.
FCF per share	$4.70	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.83	Cash from operations / diluted weighted shares.
Book value per share	$112.22	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.94	Tangible book value / shares outstanding.
Cash per share	$13.72	(Cash + short-term investments) / shares outstanding.
Payout ratio	13.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	39.9%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	143.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$21.03B	Share price x shares outstanding.
Enterprise value	$23.53B	Market cap + total debt - cash - short-term investments.
P/E	18.5x	Market cap / net income. Only when net income is positive.
P/S	0.30x	Market cap / revenue.
P/B	2.35x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	17.7x	Market cap / tangible book value, when positive.
P/FCF	56.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	38.6x	Market cap / cash from operations, when positive.
EV/Sales	0.34x	Enterprise value / revenue.
EV/EBIT	13.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	62.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	1.8%	Free cash flow / market cap.
Earnings yield	5.4%	Net income / market cap (the inverse of P/E).
Dividend yield	0.7%	Dividends paid over the period / market cap.
Shareholder yield	3.3%	(Dividends paid + share buybacks) / market cap.
PEG	1.35x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was TD SYNNEX CORP's revenue in fiscal 2025?

TD SYNNEX CORP reported revenue of $62.51B for fiscal 2025, 6.9% higher than the year before.

Was TD SYNNEX CORP profitable in fiscal 2025?

Yes. Net income was $827.7M, a net margin of 1.3%.

How much free cash flow did TD SYNNEX CORP generate in fiscal 2025?

Cash from operations of $1.53B minus capital expenditures of $142.3M left free cash flow of $1.39B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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