TD SYNNEX (SNX) Q4 2025 Earnings
How Did SNX Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: +0.38%.
Did SNX Beat Earnings? Q4 2025 Results
Yes. TD SYNNEX reported Q4 2025 earnings of $3.83 a share on Jan 8, 2026, beating the $3.73 consensus estimate by 2.7%. Revenue was $17.4B against a $17.0B estimate.
TD SYNNEX capped its fiscal year on a strong note, with fourth-quarter results beating Wall Street expectations on both the top and bottom lines as robust demand across its IT distribution business drove broad-based gains. Revenue climbed 9.7% year over year to $17.38 billion, ahead of the $16.95 billion consensus, while non-GAAP diluted EPS of $3.83 topped the $3.73 estimate by 2.71%, representing a 24.0% jump from the $3.09 posted in the year-ago quarter. A key driver of the outperformance was Europe, where revenue surged 18.1% to $6.49 billion and non-GAAP operating income jumped 30.5%, complementing steady Americas growth and accelerating momentum in Asia-Pacific and Japan. Cash generation was particularly notable, with free cash flow reaching $1.42 billion in the quarter. Goldman Sachs initiated coverage with a Buy rating following the print, projecting 10% billings growth in fiscal 2026. Looking ahead, TD SYNNEX guided fiscal Q1 2026 revenue of $15.10 billion to $15.90 billion and non-GAAP diluted EPS of $3.00 to $3.50.
- Growth in both Advanced Solutions and Endpoint Solutions portfolios
- Non-GAAP gross billings grew 14.7% YoY driven by strong demand across all regions
- Greater percentage of sales presented on net basis due to product mix impacted revenue by approximately 5% but improved gross margin by approximately 30 basis points
- Europe revenue grew 18.1% YoY (11.2% constant currency) as the fastest-growing region
- APJ revenue grew 24.7% YoY (26.1% constant currency)
- Cash conversion cycle improved to 16 days from 18 days year over year
- ROIC improved to 9.7% from 8.5%; Adjusted ROIC improved to 10.5% from 10.0%
“In the fourth quarter, our non-GAAP gross billings grew 15% year-over-year and non-GAAP diluted earnings per share grew 24% year-over-year, which established new records for our company and demonstrated the value of our diversified business model and the successful execution of our long-term strategy.”
TD SYNNEX CEO, on the earnings call
What Was TD SYNNEX's Outlook in Q4 2025?
For fiscal Q1 2026 (three months ending February 28, 2026), TD SYNNEX guided revenue of $15.1 billion to $15.9 billion, non-GAAP gross billings of $22.7 billion to $23.7 billion, GAAP net income of $166 million to $206 million, non-GAAP net income of $243 million to $283 million, GAAP diluted EPS of $2.05 to $2.55, and non-GAAP diluted EPS of $3.00 to $3.50. Estimated outstanding diluted weighted average shares are 80.1 million.
SNX YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $17.4B | $15.8B | +9.7% |
| Gross Profit | $1.2B | $902.3M | +32.4% |
| Operating Income | $398.7M | $289.7M | +37.6% |
| Net Income | $248.4M | $194.8M | +27.5% |
SNX Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.