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DCF valuation

What is TD Synnex Corp worth?

With the base-case assumptions below, a discounted cash flow model on TD Synnex Corp's reported free cash flow gives $526.57 per share. The share price was $263.03 on September 25, 2026, 50% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$1.39B
Average free cash flow, last 5 years
$868.9M
Cash
$1.09B
balance sheet of May 31, 2026
Debt
$3.59B
balance sheet of May 31, 2026
Diluted shares, fiscal 2025
82,430,000
Revenue growth per year, last 5 years
25.6%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$308.05+17%
Base15.0%9.0%2.5%9.0%$526.57+100%
Bull20.0%11.5%3.0%8.0%$933.48+255%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$692.03$743.61$806.67$885.48$986.82
8.0%$567.74$601.19$640.73$688.18$746.16
9.0%$477.31$500.18$526.57$557.37$593.76
10.0%$408.74$425.00$443.44$464.51$488.82
11.0%$355.08$367.01$380.34$395.33$412.33

Where the presets come from

Base: years 1 to 5 grow at TD Synnex Corp's revenue growth rate over the last 5 fiscal years (25.6% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

TD Synnex Corp company page