Synnex (SNX) financial statements
Synnex reported revenue of $62.5B in fiscal 2025, up 18.0% a year over 9 years.
Net income was $828M and the operating margin 2.3%, against 2.7% in 2016.
Free cash flow was $1.4B, and the company returned $146M in dividends and $596M in net buybacks.
The diluted share count rose 109% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Synnex's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.1B | $16.8B | $19.8B | $19.1B | $20.0B | $31.6B | $62.3B | $57.6B | $58.5B | $62.5B |
| Cost of revenue | $963M | $1.2B | $1.5B | $17.9B | $18.8B | $29.7B | $58.4B | $53.6B | $54.5B | $58.1B |
| Gross profit | $1.3B | $1.5B | $1.9B | $1.2B | $1.2B | $1.9B | $3.9B | $4.0B | $4.0B | $4.4B |
| Selling, general and admin | $903M | $1.0B | $1.4B | $637M | $665M | $1.2B | $2.6B | $2.7B | $2.7B | $2.9B |
| Operating income | $380M | $507M | $550M | $519M | $521M | $623M | $1.1B | $1.1B | $1.2B | $1.4B |
| Interest expense | $31M | $47M | $93M | $173M | $133M | — | — | $288M | $319M | $357M |
| Pre-tax income | $356M | $463M | $457M | $473M | $436M | $466M | $827M | $790M | $866M | $1.1B |
| Income tax | $121M | $163M | $157M | $111M | $102M | $71M | $176M | $163M | $177M | $230M |
| Net income | $235M | $300M | $300M | $501M | $529M | $395M | $651M | $627M | $689M | $828M |
| EPS (diluted) | $5.88 | $7.48 | $7.17 | $9.74 | $10.21 | $6.24 | $6.77 | $6.70 | $7.95 | $9.95 |
| Diluted shares | 40M | 40M | 41M | 51M | 51M | 63M | 96M | 93M | 86M | 82M |
| Gross margin | 9.1% | 9.2% | 9.7% | 6.1% | 6.0% | 6.0% | 6.3% | 6.9% | 6.8% | 7.0% |
| Operating margin | 2.7% | 3.0% | 2.8% | 2.7% | 2.6% | 2.0% | 1.7% | 1.9% | 2.0% | 2.3% |
| Net margin | 1.7% | 1.8% | 1.5% | 2.6% | 2.6% | 1.2% | 1.0% | 1.1% | 1.2% | 1.3% |
Balance sheet
Fiscal years, from Synnex's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $386M | $556M | $457M | $226M | $1.4B | $994M | $523M | $1.0B | $1.1B | $2.4B |
| Receivables | $1.8B | $2.8B | $3.6B | $3.9B | $2.8B | $8.3B | $9.4B | $10.3B | $10.3B | $11.7B |
| Inventory | $1.7B | $2.2B | $2.4B | $2.5B | $2.7B | $6.6B | $9.1B | $7.1B | $8.3B | $9.5B |
| Total current assets | $4.0B | $5.7B | $7.2B | $7.5B | $8.8B | $17.7B | $20.5B | $20.1B | $21.3B | $25.3B |
| Property, plant and equipment | $313M | $347M | $571M | $570M | $158M | $483M | $421M | $450M | $457M | $496M |
| Goodwill | $486M | $873M | $2.2B | $2.3B | $424M | $3.9B | $3.8B | $3.9B | $3.9B | $4.1B |
| Total assets | $5.2B | $7.8B | $11.5B | $11.7B | $13.5B | $27.7B | $29.7B | $29.4B | $30.3B | $34.3B |
| Total current liabilities | $2.5B | $4.0B | $5.0B | $4.6B | $5.6B | $14.2B | $16.4B | $16.7B | $17.2B | $21.0B |
| Long-term debt | $601M | $1.1B | $2.6B | $2.7B | $1.5B | $4.0B | $3.8B | $3.1B | $3.7B | $3.6B |
| Total liabilities | $3.2B | $5.4B | $8.1B | $7.9B | $9.1B | $19.8B | $21.7B | $21.2B | $22.2B | $25.8B |
| Shareholders' equity | $2.0B | $2.3B | $3.4B | $3.8B | $4.3B | $7.9B | $8.0B | $8.2B | $8.0B | $8.5B |
| Net debt | $583M | $1.4B | $3.0B | $2.8B | $210M | $3.1B | $3.6B | $3.0B | $2.8B | $2.2B |
Cash flow
Fiscal years, from Synnex's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $325M | $177M | $101M | $550M | $1.8B | $810M | -$50M | $1.4B | $1.2B | $1.5B |
| Capital spending | $123M | $98M | $125M | $137M | $198M | $55M | $117M | $150M | $175M | $142M |
| Free cash flow | $201M | $79M | -$25M | $412M | $1.6B | $755M | -$167M | $1.3B | $1.0B | $1.4B |
| Stock-based compensation | $14M | $17M | $23M | $28M | $33M | $53M | $91M | $85M | $69M | $66M |
| Dividends paid | $34M | $42M | $60M | $77M | $21M | $50M | $115M | $130M | $138M | $146M |
| Share buybacks (net) | -$7M | $0 | -$66M | -$15M | -$3M | $0 | -$125M | -$621M | -$612M | -$596M |
| Net borrowing | — | — | — | — | -$1.3B | -$2.3B | -$129M | -$74M | -$1.5B | -$599M |
| Free cash flow margin | 1.4% | 0.5% | -0.1% | 2.2% | 8.2% | 2.4% | -0.3% | 2.2% | 1.8% | 2.2% |
| Dividends per share | $0.85 | $1.05 | $1.44 | $1.50 | $0.41 | $0.80 | $1.20 | $1.40 | $1.61 | $1.78 |
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Open SNX in InvestinglyQuestions
What was Synnex's revenue in 2025?
$62.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Synnex generate?
$1.4B in fiscal 2025 (operating cash flow minus capital spending).
From Synnex's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.