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TD SYNNEX SNX reported non-GAAP earnings of $3.83 per share for the fourth quarter of fiscal 2025, which beat the Zacks Consensus Estimate by 4.1%. The bottom line increased 24% year over year.
SNX’s revenues increased 9.7% year over year to $17.4 billion and beat the consensus mark by 7.9%. On a constant-currency (cc) basis, revenues represented 7.5% year-over-year growth, driven by advancements in the Endpoint Solutions and Advanced Solutions portfolios.
SNX’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 7.8%.
Categorically, revenues from Endpoint Solutions reached $9.0 billion, reflecting 12% year-over-year growth. Revenues from Advanced Solutions reached $8.3 billion, reflecting 7% year-over-year growth.
The non-GAAP gross profit increased 14.8% year over year to $1.19 billion, whereas the gross margin expanded 30 basis points (bps) to 6.87%.
Adjusted SG&A expenses increased to $697.72 million from the year-ago quarter’s $619.41 million. As a percentage of revenues, SG&A expenses expanded 5 bps on a year-over-year basis to 4.56%.
The fiscal fourth-quarter non-GAAP operating income was up 17.9% to $497 million. The non-GAAP operating margin expanded 20 bps on a year-over-year basis to 2.86%.
Non-GAAP gross billings were $24.3 billion in the fiscal fourth quarter, up 14.7% on a year-over-year basis. On a cc basis, non-GAAP gross billings increased 12.6% from the prior-year quarter.
As of Nov. 30, 2025, TD SYNNEX’s cash and cash equivalents were $2.43 billion compared with $874.35 million as of Aug. 31, 2025.
The long-term debt was $3.59 billion for the reported quarter, up from the prior quarter’s debt of $3.04 billion.
The company reported $1.5 billion of cash provided by operational activities in the fiscal fourth quarter compared with $246 million in the previous quarter. SNX reported free cash flow of $1.4 billion in the fiscal fourth quarter compared with $214 million in the previous quarter.
In the fourth quarter of fiscal 2025, SNX returned $209 million to its stockholders with $173 million of share repurchases and $36 million of dividend payments.
For the fourth quarter of fiscal 2025, TD SYNNEX announced a 9% increase in its quarterly cash dividend, raising it to 48 cents per share. This move indicates the company's commitment to returning value to shareholders amid current financial challenges.
For the first quarter of fiscal 2026, SNX expects revenues of $15.1-$15.9 billion. Non-GAAP earnings are expected to be in the range of $3.00-$3.50 per share. The Zacks Consensus Estimate for revenues is pegged at $15.29 billion, and the consensus mark for earnings is pinned at $3.21 per share, revised downward by a penny over the past 30 days.
Non-GAAP net income is expected to be in the range of $243-$283 million.
Currently, SNX carries a Zacks Rank #4 (Sell).
Amphenol APH, Allot Ltd. ALLT and Analog Devices ADI are some better-ranked stocks that investors can consider in the broader Zacks Computer and Technology sector. Amphenol, Allot and Analog Devices sport a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Amphenol’s 2025 earnings has moved upward by 7 cents to $3.29 per share in the past 60 days, calling for a year-over-year surge of 74.1%. Amphenol shares have soared 38.8% in the past six months.
The Zacks Consensus Estimate for Allot’s 2026 earnings has been revised upward by 8 cents to 22 cents per share over the past 60 days and suggests a year-over-year increase of 450%. Allot shares have jumped 4.9% in the past six months.
The Zacks Consensus Estimate for Analog Devices’ fiscal 2026 earnings has been revised upward by 5 cents to $9.79 per share, over the past 30 days, suggesting a year-over-year increase of 25.7%. Analog Devices shares have surged 23% in the past six months.
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