TD SYNNEX Corporation

TD SYNNEX Corp. is a U.S.-based IT distributor and solutions aggregator formed from the combination of SYNNEX and Tech Data. It sources hardware, software, cloud, security, networking, and infrastructure products from thousands of technology vendors and sells them through a broad channel of resellers, retailers, system integrators, and service providers across the Americas, Europe, and Asia-Pacific and Japan.

2,9 %

7,0 %

1,3 %

+6,9 %

1.21

0.75

— TD SYNNEX Corporation
%
Endpoint Solutions45% Personal computing devices, mobile phones and accessories, printers, and related peripherals.
Advanced Solutions40% Data center, cloud, security, networking, storage, software, and hyperscale infrastructure.
Services and Solutions10% Financing, logistics, integration, marketing, and other value-added services.
Systems Design and Integration5% Purpose-built and customized technology solutions for enterprise and hyperscale customers.

TD SYNNEX sells primarily through the IT channel rather than directly to end consumers, so its customers are resellers...

  • Value-added resellers (VARs)primary

    Buy hardware, software, and bundled solutions to resell with integration and support.

  • Corporate resellersprimary

    Source enterprise IT products and software for business customers.

  • System integratorsprimary

    Purchase components and solutions for customized deployments and projects.

  • Retailers and direct marketerssecondary

    Buy consumer and SMB technology products for broad market distribution.

  • Managed service providerssecondary

    Buy cloud, security, and infrastructure solutions for managed offerings.

  • Government resellerssecondary

    Purchase IT products through channel programs for public-sector customers.

TD SYNNEX operates through three reportable regions: the Americas, Europe, and Asia-Pacific and Japan...

  • •Americas, Europe, and APJ are the core operating regions
  • •Global footprint supports local fulfillment and channel coverage
  • •Regional mix affects currency translation and demand patterns
  • •Distributed operations help serve multinational vendors and resellers

TD SYNNEX is focused on expanding its portfolio, customer reach, and vendor relationships across mature and developing...

01
Broaden portfolio across endpoint and advanced solutionsmedium-term

A wider catalog increases relevance with channel partners and vendor coverage.

02
Expand services and integration capabilitiesmedium-term

Services increase switching costs and improve the value proposition to vendors and resellers.

03
Grow hyperscale infrastructure manufacturingmedium-term

Purpose-built infrastructure can deepen participation in large enterprise and cloud buildouts.

04
Use acquisitions to expand geography and capabilitiesshort-term

Acquisitions can add vendor relationships, supply-chain scale, and new market access.

TD SYNNEX faces customer concentration, working-capital intensity, and execution risk because it operates a high-volume...

high

Customer concentration

A small number of large customers can represent a meaningful share of revenue.

Scope
One customer accounted for 11% of fiscal 2025 revenue.
Materiality
high
high

Working-capital and liquidity pressure

Distribution requires funding inventory and receivables before cash is collected.

Scope
Accounts receivable, inventory, and floor-plan financing needs.
Materiality
high
high

Cybersecurity and data protection

The company stores and transmits customer, employee, and vendor data.

Scope
Unauthorized access could lead to regulatory, legal, and reputational harm.
Materiality
high
medium

Acquisition integration risk

Acquisitions can disrupt operations, systems, and customer relationships.

Scope
Expansion into new markets and capabilities through acquisitions.
Materiality
medium
medium

Demand and channel volatility

Reseller demand can shift with enterprise IT budgets and inventory corrections.

Scope
Hardware, software, and infrastructure distribution volumes.
Materiality
high
Revenue recognition
Can create timing differences around shipments, returns, and software delivery
Inventory valuation
Affects gross profit and working capital
Floor-plan repurchase obligations
Creates contingent liability exposure tied to customer defaults
Goodwill and intangible impairment
Could lead to large non-cash charges if business conditions weaken
Income taxes and uncertain tax positions
Can materially affect tax expense and effective tax rate

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: 29.4.2026