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TD SYNNEX
TD SYNNEX (SNX) investor relations material
TD SYNNEX Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary8 Jan, 2026
Executive summary
Achieved record Q4 and FY results with non-GAAP gross billings up 15% YoY to $24.3B, non-GAAP diluted EPS up 24% YoY to $3.83, and robust free cash flow of $1.4B, surpassing guidance and prior records.
Growth was broad-based across all regions and segments, with Asia-Pacific and Japan leading, and strong performance in Europe and Latin America.
Hyve delivered double-digit gross billings growth, exceeding expectations and diversifying its customer base.
Disciplined capital allocation supported strong shareholder returns, with $742M returned in FY25 via dividends and share repurchases.
Quarterly dividend raised 9% to $0.48 per share, payable January 30, 2026.
Financial highlights
Q4 gross billings up 15% YoY to $24.3B; net revenue $17.4B, up 10% YoY and above guidance.
Gross profit increased 15% YoY to $1.2B; gross margin as a percentage of gross billings was 5% (flat YoY), while reported gross margin improved to 6.9%.
Non-GAAP operating income up 18% YoY to $497M; GAAP operating income $399M, up 23%.
Non-GAAP net income $313M; non-GAAP diluted EPS $3.83, up 24% YoY; GAAP diluted EPS $3.04, up 33%.
Free cash flow for the year was $1.4B, exceeding expectations.
Outlook and guidance
Q1 FY26 non-GAAP gross billings expected at $22.7–$23.7B; net revenue guidance: $15.1–$15.9B.
Non-GAAP net income forecasted at $243M–$283M; non-GAAP diluted EPS: $3.00–$3.50.
Quarterly dividend of $0.48 per share declared, payable January 30, 2026.
Anticipates Q1 cash outflow due to seasonality and timing; expects cumulative free cash flow for FY25–26 to align with 95% net income conversion.
Long-term outlook remains consistent with multi-year growth targets.
How did net basis sales impact Q4 revenue?
APJ operating margin decline despite revenue growth?
What is the Q4 Cash Conversion Cycle trend?
Hyve: new customer acquisition progress?
Memory price impact on volume demand?
Gross-to-net: FY26 mix shift implications?
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Next TD SYNNEX earnings date
Q1 202626 Mar, 2026
TD SYNNEX
Next TD SYNNEX earnings date
Q1 202626 Mar, 2026
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Frequently asked questions
TD SYNNEX Corporation is a global distributor of technology products, services, and solutions. The company offers IT distribution, logistics, and supply chain services, supporting original equipment manufacturers, system integrators, and resellers. TD SYNNEX serves diverse industries including healthcare, finance, retail, and public sector organizations. The company is headquartered in Fremont, California, and its shares are listed on the NYSE.
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