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TD Synnex Corp key statistics and ratios

In fiscal 2025, TD Synnex Corp had return on equity of 10.0%, an operating margin of 2.3%, debt equal to 54.8% of equity and a current ratio of 1.21. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Nov 20092010Nov 20102011Nov 20112012Nov 20122013Nov 20132014Nov 20142015Nov 20152016Nov 20162017Nov 20172018Nov 20182019Nov 20192020Nov 20202021Nov 20212022Nov 20222023Nov 20232024Nov 20242025Nov 2025LTMAug 2026
Gross margin5.5%5.7%6.1%6.4%6.0%7.9%8.9%9.1%9.1%9.6%6.1%6.0%6.0%6.3%6.9%6.8%7.0%6.9%
Operating margin1.9%2.3%2.5%2.5%2.2%2.2%2.7%2.7%3.0%2.7%2.7%2.6%2.0%1.7%1.9%2.0%2.3%2.7%
Net margin1.2%1.5%1.4%1.5%1.4%1.3%1.6%1.7%1.8%1.5%2.6%2.6%1.2%1.0%1.1%1.2%1.3%1.8%
Free-cash-flow margin3.1%−0.9%1.7%2.2%0.1%−2.1%4.1%1.4%0.5%−0.1%2.2%9.0%2.4%−0.2%2.2%1.8%2.2%−1.1%
Return on equity10.7%14.0%14.0%12.2%11.2%11.7%12.1%12.4%14.1%10.5%13.9%13.0%6.5%8.2%7.7%8.5%10.0%14.9%
Return on assets4.3%5.6%5.6%5.2%4.8%4.5%4.6%4.9%4.6%3.1%4.3%4.2%1.9%2.3%2.1%2.3%2.6%3.5%
Asset turnover3.683.753.903.553.453.442.912.912.632.081.641.591.542.171.951.961.941.99
Current ratio—1.681.781.731.641.431.901.611.421.451.621.561.251.251.201.241.211.19
Debt to equity0.0%38.9%33.1%20.9%22.5%59.3%40.6%48.9%85.1%100.9%79.9%64.0%52.9%51.4%50.1%48.9%54.8%59.4%
Interest cover (operating income ÷ interest)5.8x8.8x8.9x9.2x11.8x11.0x12.7x12.2x10.7x5.9x3.0x3.9x——3.7x3.7x4.0x6.4x
Effective tax rate36.4%36.4%34.5%35.5%36.0%36.6%36.2%34.0%35.2%34.3%23.5%23.3%15.3%21.3%20.6%20.4%21.7%22.9%
SG&A as % of revenue3.5%3.4%3.6%3.9%3.8%5.7%6.3%6.4%6.1%6.9%3.3%3.3%3.7%4.2%4.6%4.6%4.7%4.2%
Capital spending as % of revenue0.3%0.1%0.4%0.1%0.3%0.4%0.8%0.9%0.6%0.6%0.7%0.1%0.1%0.1%0.3%0.3%0.2%0.3%
Free cash flow ÷ net income264.3%−61.4%119.1%150.8%4.4%−162.3%259.6%85.8%26.4%−8.2%82.4%341.6%194.9%−17.6%200.6%151.3%167.9%−61.5%
Dividends ÷ net income———0.0%0.0%2.7%10.8%14.4%13.9%19.9%15.3%3.9%12.7%17.6%20.8%20.0%17.7%11.4%
Dividends and buybacks ÷ free cash flow0.0%—0.9%3.4%27.9%—5.8%20.2%52.8%—22.3%1.3%6.5%—59.7%71.9%53.4%—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 7 checks passed · August 31, 2026
What it owns · $41.8bn
Short-term assets $32.9bnLonger-term assets $9.0bn
What it owes, and who funded it · $41.8bn
Short-term liabilities $27.6bnLonger-term liabilities $4.9bnShareholders' equity $9.3bn
  • Short-term assets cover short-term liabilities $32.9bn of assets due within a year against $27.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $32.9bn short-term assets against $4.9bn of longer-dated liabilities.
  • More cash than debt $749m of cash against $5.5bn of debt.
  • Debt below 40% of shareholders' equity Debt is 59% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 49% to 59% over five years.
  • A year's operating cash flow covers at least 20% of debt −$618m of operating cash flow against $5.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of $2.1bn against $321m of interest.

From TD Synnex Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

31 /100

Weak moat

How hard TD Synnex's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Cash operating profit has been a median 3.3% of total assets over 10 years.

  • Pricing power 7 / 20

    Gross margin has been a median 6.9%, moving by 3.1 percentage points (standard deviation) across 10 years.

  • Durability 9 / 20

    Operating margin has been a median 2.4%; its worst year was 1.5%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 8 of 10 years, at a median 0.8% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 56.6% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (36 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from TD Synnex Corp's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to TD Synnex Corp.