$4.1 B

SNX Mkt cap, 14-Dec-2018

$4.9 B

Synnex Revenue Q3, 2018
Synnex Gross profit (Q3, 2018)741.5 M
Synnex Gross profit margin (Q3, 2018), %15.1%
Synnex Net income (Q3, 2018)69.3 M
Synnex EBIT (Q3, 2018)116.9 M
Synnex Cash, 31-Aug-2018204 M
Synnex EV5 B

Synnex Revenue

Synnex revenue was $17.05 b in FY, 2017 which is a 21.2% year over year increase from the previous period.

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Synnex Revenue Breakdown

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Synnex revenue breakdown by business segment: 88.3% from Technology Solutions and 11.7% from Concentrix

Synnex revenue breakdown by geographic segment: 9.9% from Canada, 73.3% from United States and 16.8% from Others

Synnex Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

13.8b13.3b14.1b17.0b

Revenue growth, %

28%(4%)5%21%

Cost of goods sold

12.7b12.1b12.8b15.5b

Gross profit

1.1b1.2b1.3b1.6b

Gross profit Margin, %

8%9%9%9%

General and administrative expense

837.2m903.4m1.0b

Operating expense total

837.2m903.4m1.0b

EBIT

3.1b354.6m379.6m509.0m

EBIT margin, %

22%3%3%3%

Interest expense

26.3m29.0m45.4m

Pre tax profit

284.3m327.2m356.1m464.7m

Income tax expense

(104.1m)118.6m121.1m163.6m

Net Income

180.2m208.6m235.0m301.2m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

2.7b3.0b3.5b3.5b3.2b3.3b3.3b3.1b3.4b3.7b3.5b3.9b4.3b4.6b9.5b4.9b

Cost of goods sold

2.6b2.8b3.2b3.2b2.9b3.0b3.0b4.2b

Gross profit

164.3m206.6m279.0m299.7m288.2m300.1m290.8m741.5m

Gross profit Margin, %

6%7%8%8%9%9%9%15%

General and administrative expense

100.8m144.7m210.9m220.9m209.3m210.7m209.5m208.6m218.7m227.9m240.0m247.1m252.7m302.0m607.2m316.3m

Operating expense total

100.8m144.7m210.9m220.9m209.3m210.7m209.5m208.6m218.7m227.9m240.0m247.1m252.7m302.0m607.2m316.3m

EBIT

75.6m75.3m98.0m101.8m125.1m122.2m111.9m235.9m116.9m

EBIT margin, %

2%2%3%3%3%3%2%2%2%

Pre tax profit

73.4m69.7m90.1m93.3m116.0m114.3m93.3m199.4m96.0m

Income tax expense

(26.0m)(22.0m)(22.1m)(25.6m)(26.3m)(30.1m)(26.2m)(26.8m)(25.4m)(31.4m)(31.5m)(42.8m)(39.2m)(68.9m)(81.3m)(26.7m)

Net Income

46.6m38.5m39.6m45.0m46.3m51.9m48.2m46.6m44.4m58.7m61.8m73.1m75.2m24.4m118.1m69.3m

Synnex Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

151.6m180.1m336.1m380.7m550.7m

Accounts Receivable

1.6b2.1b1.8b1.8b2.8b

Inventories

1.1b1.4b1.3b1.7b2.2b

Current Assets

2.9b3.9b3.6b4.0b5.7b

PP&E

133.2m200.8m248.6m312.7m346.6m

Goodwill

188.5m314.2m298.8m486.2m872.6m

Total Assets

3.3b4.7b4.4b5.2b7.7b

Accounts Payable

1.4b1.6b1.4b1.7b2.6b

Short-term debt

362.9m805.5m

Current Liabilities

1.8b2.7b1.9b2.5b4.0b

Long-term debt

65.4m264.2m638.8m601.1m1.1b

Total Debt

65.4m264.2m638.8m964.0m1.9b

Total Liabilities

3.2b5.4b

Common Stock

41.0k41.0k

Additional Paid-in Capital

286.3m384.6m411.7m440.7m467.9m

Retained Earnings

1.1b1.3b1.5b1.7b2.0b

Total Equity

1.4b1.7b1.8b2.0b2.3b

Debt to Equity Ratio

0 x0.2 x0.4 x0.5 x0.9 x

Debt to Assets Ratio

0 x0.1 x0.1 x0.2 x0.3 x

Financial Leverage

2.4 x2.8 x2.5 x2.6 x3.4 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

139.4m148.4m204.6m127.7m169.8m215.5m308.1m447.6m589.0m223.3m210.1m305.6m243.3m372.3m354.2m204.0m

Accounts Receivable

1.3b1.6b1.8b1.9b1.6b1.7b1.6b1.5b1.5b1.7b1.7b1.8b1.9b2.6b2.7b3.0b

Inventories

1.0b1.2b1.4b1.4b1.3b1.2b1.3b1.3b1.4b1.6b1.9b2.1b2.2b2.3b2.1b2.0b

Current Assets

2.6b3.1b3.6b3.6b3.3b3.3b3.4b3.4b3.6b3.6b3.9b4.3b4.5b5.5b5.4b5.4b

PP&E

124.1m168.5m187.5m197.2m212.9m222.5m236.2m263.7m277.7m315.2m315.3m321.0m329.9m346.7m344.3m343.5m

Goodwill

188.1m376.4m376.5m373.9m315.8m312.9m306.8m294.8m298.9m519.7m488.9m485.6m536.3m871.1m861.5m853.9m

Total Assets

3.0b3.9b4.5b4.5b4.1b4.1b4.2b4.2b4.4b4.8b5.1b5.5b5.7b7.5b7.3b7.3b

Accounts Payable

1.1b1.3b1.5b1.4b1.1b1.2b1.3b1.2b1.4b1.5b1.5b1.7b1.8b2.4b2.3b2.2b

Current Liabilities

1.5b2.0b2.5b2.5b2.1b1.7b1.7b1.6b1.8b2.1b2.3b2.7b2.8b3.7b3.6b3.6b

Long-term debt

68.2m281.8m278.9m274.6m260.3m654.6m647.6m635.3m624.5m620.5m590.4m579.0m564.1m1.1b1.1b1.1b

Total Debt

68.2m281.8m278.9m274.6m260.3m654.6m647.6m635.3m624.5m620.5m590.4m579.0m564.1m1.1b1.1b1.1b

Total Liabilities

1.6b2.4b2.9b2.9b2.4b2.4b2.5b2.4b2.6b2.9b3.1b3.4b3.5b5.1b5.0b4.9b

Additional Paid-in Capital

279.2m364.3m370.5m376.6m391.4m398.4m404.8m419.5m427.2m432.9m447.4m452.8m458.9m474.7m481.6m488.5m

Retained Earnings

1.1b1.2b1.2b1.3b1.3b1.4b1.4b1.5b1.6b1.6b1.7b1.8b1.9b2.0b2.0b2.1b

Total Equity

1.4b1.5b1.6b1.6b1.7b1.7b1.7b1.8b1.9b1.9b2.0b2.1b2.2b2.3b2.3b2.3b

Debt to Equity Ratio

0 x0.2 x0.2 x0.2 x0.2 x0.4 x0.4 x0.3 x0.3 x0.3 x0.3 x0.3 x0.3 x0.5 x0.5 x0.5 x

Debt to Assets Ratio

0 x0.1 x0.1 x0.1 x0.1 x0.2 x0.2 x0.2 x0.1 x0.1 x0.1 x0.1 x0.1 x0.2 x0.2 x0.2 x

Financial Leverage

2.2 x2.6 x2.8 x2.8 x2.4 x2.4 x2.4 x2.3 x2.4 x2.5 x2.5 x2.6 x2.6 x3.2 x3.2 x3.1 x

Synnex Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

152.3m180.2m208.6m235.0m301.2m

Depreciation and Amortization

103.5m121.3m159.9m

Accounts Receivable

(187.5m)(527.9m)291.2m95.0m(478.3m)

Inventories

(155.2m)(330.2m)40.1m(410.2m)(243.3m)

Accounts Payable

186.2m205.1m(23.5m)265.6m342.0m

Cash From Operating Activities

35.7m(234.8m)641.3m324.7m176.8m

Purchases of PP&E

(29.0m)(57.4m)(100.1m)(123.2m)(97.5m)

Cash From Investing Activities

(43.8m)(441.7m)(59.4m)(531.9m)(654.3m)

Long-term Borrowings

(3.1b)(3.3b)(8.4b)

Dividends Paid

(4.9m)(22.6m)(33.7m)(41.8m)

Cash From Financing Activities

(8.4m)701.9m(355.1m)180.2m638.7m

Net Change in Cash

210.2m(37.5m)169.6m

Interest Paid

8.4m15.4m19.4m21.9m36.8m

Income Taxes Paid

88.3m87.2m141.0m102.0m136.8m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

110.8m38.5m78.0m123.0m46.3m98.2m146.4m46.6m91.0m149.7m61.8m134.9m210.1m24.4m118.1m187.4m

Depreciation and Amortization

12.3m5.7m14.9m25.2m11.2m22.3m35.3m14.5m31.2m46.5m35.9m71.4m108.3m48.6m97.5m146.2m

Accounts Receivable

108.6m52.0m(200.1m)(246.1m)478.8m369.5m481.2m279.4m263.9m

Inventories

(67.0m)(136.9m)(332.1m)(355.8m)76.6m133.4m47.4m59.4m(39.0m)(224.8m)(109.1m)(368.2m)(484.6m)(154.7m)30.5m115.2m

Accounts Payable

(52.2m)(30.7m)111.1m21.8m(365.9m)(256.1m)(207.0m)(240.6m)(64.6m)

Cash From Operating Activities

118.1m(35.0m)(199.7m)(246.6m)208.2m335.6m557.4m143.7m284.9m275.3m(185.6m)(145.6m)(80.2m)(5.7m)62.7m(40.4m)

Purchases of PP&E

(15.3m)(4.3m)(20.3m)(40.2m)(22.4m)(45.3m)(71.5m)(35.9m)(67.5m)(95.2m)(21.6m)(45.3m)(72.1m)(22.4m)(50.0m)(75.5m)

Cash From Investing Activities

(32.8m)(388.7m)(402.3m)(440.4m)6.9m28.7m(63.9m)18.7m18.2m(412.2m)(22.1m)(40.1m)(124.2m)(27.9m)(50.5m)(74.4m)

Dividends Paid

(4.9m)(9.8m)(14.8m)(8.0m)(15.9m)(23.8m)(9.9m)(19.9m)(29.9m)(14.0m)(27.9m)(41.8m)

Cash From Financing Activities

(114.8m)418.6m656.2m665.8m(219.6m)(326.7m)(348.2m)(51.1m)(47.7m)23.0m32.4m101.6m55.1m(146.4m)(206.2m)(223.1m)

Synnex Ratios

USDY, 2018

EV/EBIT

42.5 x

EV/CFO

-123 x

Debt/Equity

0.5 x

Debt/Assets

0.2 x

Financial Leverage

3.1 x
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Synnex Operating Metrics

FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Distribution Centers

40 40 40

Products

30 k30 k30 k30 k30 k30 k30 k30 k30 k30 k30 k

Resellers

20 k20 k20 k20 k20 k20 k20 k20 k20 k20 k20 k
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Synnex Employee Rating

2.9237 votes
Culture & Values
2.8
Work/Life Balance
3.1
Senior Management
2.5
Salary & Benefits
2.5
Career Opportunities
2.6
Source