Group 1: Core Insights - Goldman Sachs has resumed coverage of several companies in the IT hardware and distribution sector, assigning "buy" ratings to Dell Technologies, HPE, SYNNEX, and Penguin Solutions, while giving "sell" ratings to HP and Super Micro Computer, and a "neutral" rating to Insight Enterprises [1] - The IT hardware and distribution industry experienced a modest return of only 4% in 2025, compared to a 16% increase in the S&P 500, with expectations for continued volatility in 2026 due to fluctuating AI market enthusiasm and rising input costs [1][2] Group 2: Investment Themes - Analysts believe that patient investors will be rewarded, as the industry presents stock-picking opportunities, particularly for stocks with upward consensus expectations and attractive performance in three key investor topics: sustainability of AI demand, the stage of upgrade cycles for PCs, servers, storage, and campus networks, and the impact of higher input costs on margins and demand [2] - The rationale for the "buy" ratings on Dell Technologies, HPE, SYNNEX, Penguin Solutions, and NetApp includes Dell's strong earnings growth potential related to AI, HPE's attractive business transformation, NetApp's undervalued high-margin public cloud business, SYNNEX's resilient distribution model, and Penguin Solutions' accelerated profit growth through portfolio transformation [2] Group 3: Market Outlook - In terms of AI infrastructure demand, analysts expect strong growth in new cloud (GPU-as-a-service) demand, despite potential quarterly fluctuations due to product transitions and an expanding XPU ecosystem [3] - For traditional servers and enterprise storage, there is cautious optimism for revenue growth driven by data center modernization trends in 2026, while closely monitoring demand elasticity in an inflationary pricing environment and anticipating that higher DRAM/NAND costs will largely be passed on to customers [3] - The outlook for personal computers in 2026 is expected to be weaker than current market expectations due to diminished upgrade incentives and rising prices, with the impact of rising input costs on margins and demand being a key issue for 2026 [3]

Group 1 - TD Synnex Corp. (SNX) has been previously rated as a buy due to the acceleration of its Hyve growth engine and the core business moving up the value chain [1] - The company is experiencing new growth tailwinds that are expected to positively impact its performance [1] Group 2 - The author of the article is an individual investor focused on managing personal capital, utilizing a blend of fundamental, technical, and momentum investing strategies [1] - The purpose of writing on Seeking Alpha is to track investment ideas and connect with like-minded investors [1]

Core Viewpoint - TD Synnex Corp. (SNX) is experiencing growth driven by the Hyve growth engine, an upward movement in its core business value chain, and new growth tailwinds [1] Group 1: Company Performance - The Hyve growth engine is accelerating, indicating strong performance and potential for future growth [1] - The core business is moving up the value chain, suggesting an improvement in product offerings and services [1] Group 2: Investment Strategy - The investment approach includes fundamental, technical, and momentum investing, highlighting a diversified strategy to enhance investment decisions [1] - The platform is utilized to track investment ideas and connect with like-minded investors, emphasizing community engagement in investment strategies [1]

Core Insights - TD SYNNEX's international operations are crucial for understanding its financial strength and growth potential, especially given its extensive global presence [1][2] Group 1: Financial Performance - The company's total revenue for the quarter ending November 2025 was $17.38 billion, reflecting a 9.7% increase from the same quarter last year [4] - Revenue from Asia-Pacific and Japan was $1.38 billion, accounting for 7.9% of total revenue, which was a surprise increase of 10.98% compared to analysts' expectations of $1.24 billion [5] - Europe generated $6.49 billion in revenue, making up 37.4% of total revenue, exceeding Wall Street's projection of $5.69 billion by 14.15% [6] Group 2: Future Revenue Expectations - Analysts predict total revenue of $15.44 billion for the current fiscal quarter, indicating a 6.2% increase from the prior year, with Asia-Pacific and Japan expected to contribute $1.08 billion (7%) and Europe $5.15 billion (33.4%) [7] - For the full year, total revenue is anticipated to reach $64.32 billion, a 2.9% increase from the previous year, with Asia-Pacific and Japan expected to contribute $4.75 billion (7.4%) and Europe $21.25 billion (33%) [8] Group 3: Market Dynamics - The reliance on international markets presents both opportunities and challenges for TD SYNNEX, necessitating close monitoring of its international revenue trends to project future directions [9] - In the context of increasing international interdependencies and geopolitical tensions, analysts are focused on these trends to refine earnings predictions [10]

Group 1 - TD SYNNEX Corporation reported fourth-quarter revenue of $17.4 billion, exceeding analysts' expectations of $16.9 billion, representing a 9.7% year-over-year increase [1] - The company achieved adjusted EPS of $3.83 for the quarter, surpassing the forecasted $3.73 per share, reflecting a 24.0% year-over-year growth [1] - CEO Patrick Zammit expressed confidence in the company's positioning for sustainable growth, supported by a specialized business model and a focus on customer experiences [2] Group 2 - TD SYNNEX projects adjusted EPS for the next quarter to be between $3.00 and $3.50, compared to the consensus estimate of $3.21, with sales expected to range from $15.1 billion to $15.9 billion [2] - The company anticipates adjusted gross billings for the next quarter to be between $22.7 billion and $23.7 billion [2] Group 3 - Following the earnings announcement, TD SYNNEX shares rose 0.5% to $148.32 [3] - Analysts have adjusted their price targets for TD SYNNEX, with Morgan Stanley lowering it from $177 to $172, Barclays from $164 to $163, and UBS raising it from $187 to $193 [4]

Core Insights - TD SYNNEX (SNX) reported non-GAAP earnings of $3.83 per share for Q4 fiscal 2025, exceeding the Zacks Consensus Estimate by 4.1% and reflecting a 24% year-over-year increase [1][10] - Revenues for SNX increased by 9.7% year-over-year to $17.4 billion, surpassing the consensus mark by 7.9% [1][10] - The company anticipates Q1 fiscal 2026 revenues between $15.1 billion and $15.9 billion, with non-GAAP earnings projected to be in the range of $3.00 to $3.50 per share [9][10] Revenue Breakdown - Endpoint Solutions revenues reached $9.0 billion, marking a 12% year-over-year growth [3] - Advanced Solutions revenues totaled $8.3 billion, reflecting a 7% year-over-year growth [3] Profitability Metrics - Non-GAAP gross profit increased by 14.8% year-over-year to $1.19 billion, with gross margin expanding by 30 basis points to 6.87% [3] - Non-GAAP operating income rose by 17.9% to $497 million, with operating margin expanding by 20 basis points to 2.86% [4] Expenses and Cash Flow - Adjusted SG&A expenses increased to $697.72 million from $619.41 million year-over-year, with SG&A as a percentage of revenues expanding by 5 basis points to 4.56% [4] - Cash provided by operational activities was $1.5 billion in Q4, compared to $246 million in the previous quarter, with free cash flow of $1.4 billion [7] Shareholder Returns - The company returned $209 million to shareholders in Q4, including $173 million in share repurchases and $36 million in dividends [7] - A 9% increase in the quarterly cash dividend was announced, raising it to 48 cents per share [8] Balance Sheet Overview - As of November 30, 2025, cash and cash equivalents stood at $2.43 billion, up from $874.35 million as of August 31, 2025 [6] - Long-term debt increased to $3.59 billion from $3.04 billion in the prior quarter [6]

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

Core Insights - TD SYNNEX Corporation (NYSE: SNX) is a prominent distributor and solutions provider in the IT industry, competing with major players like Ingram Micro and Tech Data, and has recently reported strong financial results that positively impacted its stock performance [1] Financial Performance - On January 8, 2026, SNX reported an EPS of $3.83, surpassing the estimated $3.68, and marking a significant increase from the previous year's EPS of $3.09, reflecting strong operational performance and strategic initiatives [2][6] - The company achieved a revenue of approximately $17.38 billion, exceeding the estimated $16.95 billion, representing a 9.7% increase from the previous year, driven by advancements in Advanced Solutions and Endpoint Solutions, with a constant-currency growth of 7.5% year over year [3][6] - Adjusted gross billings rose by 14.7% year over year to $24.3 billion, indicating strong demand for SNX's offerings [4][6] Regional Performance - Revenue growth was observed across all regions, with the Americas seeing a 2.9% increase to $9.5 billion, Europe experiencing an 18.1% rise to $6.5 billion, and Asia-Pacific and Japan surging by 24.7% to $1.4 billion [4] Financial Metrics - The company has a price-to-earnings (P/E) ratio of approximately 14.51, indicating the market's valuation of its earnings, and a price-to-sales ratio of about 0.20, suggesting the market's valuation relative to its revenue [5] - SNX's debt-to-equity ratio is approximately 0.12, indicating a relatively low level of debt compared to its equity, which is favorable for its financial stability [5]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Core Insights - TD SYNNEX reported record results for fiscal 2025, with non-GAAP gross billings of $24.3 billion, reflecting a 15% year-over-year increase, and non-GAAP diluted EPS of $3.83, up 24% year over year [3][6][4] Financial Performance - The distribution business, excluding Hyve, showed a 10% year-over-year increase in gross billings, with double-digit growth in both gross profit and operating income [2][6] - Hyve achieved over 50% year-over-year growth in gross billings, contributing significantly to the overall performance [2][6] - Free cash flow for the quarter was $1.4 billion, with a total of $1.4 billion for the fiscal year, exceeding expectations [16][6] Regional Trends - North America experienced steady growth driven by demand across key customer segments and increased security requirements [7] - Europe outperformed expectations, with growth attributed to infrastructure software and PC upgrades despite a challenging macroeconomic environment [7][8] - The Asia-Pacific and Japan region remained a key growth engine, supported by rapid cloud expansion and AI development [8] Strategic Priorities - For fiscal 2026, the company emphasized investments in omnichannel/AI tools and specialized go-to-market efforts, alongside scaling Hyve [5][21] - Q1 fiscal 2026 guidance anticipates non-GAAP gross billings of $22.7 billion to $23.7 billion, indicating about 12% growth at the midpoint [20][5] Portfolio Performance - Endpoint Solutions saw a 12% year-over-year increase in gross billings, driven by sustained demand for PCs linked to the Windows 11 refresh [19] - Advanced Solutions reported a 17% year-over-year increase in gross billings, with growth in Cloud, Security, and Software [19] Shareholder Returns - The company returned $742 million to shareholders in FY25, including $173 million in Q4 repurchases [16][6] - A quarterly cash dividend of $0.48 per share was approved, payable on January 30, 2026 [22]