SYNNEX (SNX) Stock Forecast & Price Target

TD Synnex Corp reported a robust fiscal Q3/25, with non-GAAP gross billings increasing by 12% year-over-year, showcasing strong financial performance and growth momentum. The company's fiscal Q4/25 guidance anticipates non-GAAP gross billings in the range of $23.0-24.0 billion, reflecting an 11% year-over-year growth at the midpoint, alongside projected revenue and non-GAAP EPS growth of 7% and 20%, respectively, at the midpoint. This positive financial outlook underscores the company's solid position within the IT distribution and solutions aggregation market.

TD Synnex Corp's fiscal 2025 free cash flow projections have been significantly revised downward to $800 million, a decrease from the previously anticipated $1.1 billion. Revenue across its geographical segments, including the Americas, Europe, and Asia-Pacific, experienced declines of 7%, 2%, and 9%, respectively, due to a higher percentage of sales being reported on a net basis, which negatively affected overall financial performance. Despite trading at a discount to its peer group, the combination of reduced cash flow expectations and declining revenue suggests underlying challenges that contribute to a negative outlook on the stock.