Analyst Consensus ?
ConsensusBuy24 ratings
Bullish1979.2%
Neutral416.7%
Bearish14.1%
TD Synnex Corp · SNX · FY2025 Q4 · Calendar Q1 2026
TD SYNNEX: HIVE Growth Broadens the FY26 Outlook
The supplied analysis supports a constructive but conditional view: resilient cloud infrastructure, PC refresh, AI, and security demand are supporting growth, while component costs, software-mix conversion pressure and macro uncertainty could limit durability.
Reported Before market openNYSETechnology
$22.26B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$3.83
Consensus $3.68
EPS surprise
+4.1%
Reported versus consensus
Reported revenue
$17.38B
Consensus $16.95B
Revenue surprise
+2.5%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-2.3%
Event window
SPY move
-0.0%
Same window
Abnormal move
-2.2%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+16.1%
Up to 20 sessions
SNXSPY benchmark
Ask FN2 about SNX FY2025 Q4
Transcript, numbers and history already loaded
Why did SNX fall 2.3% after beating EPS estimates in FY2025 Q4?What changed in SNX's guidance and outlook in FY2025 Q4?Give me the bull and bear case for SNX after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, TD SYNNEX moved from strong HIVE and AI-related momentum to record Q4 performance, with HIVE billings above 50% growth and a larger profit contribution. Management also set FY26 expectations at about 12% billings growth and similar CapEx to FY25.
Guidance delta
FY26 guidance targets about 12% billings growth, with CapEx expected to be similar to FY25; guidance sentiment was maintained.
Key takeaways
- Q4 billings grew 15% and EPS grew 24%, both setting new records
- HIVE billings grew more than 50% and became a larger operating-income driver
- Management expects about 12% FY26 billings growth while continuing HIVE and AI-related investment
Management priorities
- Expand HIVE engineering, leadership and capacity
- Scale the partner-first digital portal and AI assistant
- Maintain free-cash-flow generation while investing in AI services and partner capabilities
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$278.38Current
$130Low
$247.79Average
$379High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 7, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Sep 25, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 25, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Sep 8, 2026 |
| Barrington Research | Outperform | Outperform | Maintain | Jun 26, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jun 12, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jun 10, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | May 27, 2026 |
| B of A Securities | Buy | Buy | Maintain | Sep 26, 2025 |
| Loop Capital | Buy | Buy | Maintain | Jun 30, 2025 |
| CFRA | Buy | Buy | Maintain | Mar 28, 2025 |
| Stifel | Buy | Buy | Maintain | Sep 19, 2023 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Jun 28, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Jun 28, 2023 |
| Citigroup | Buy | Buy | Maintain | Jun 29, 2022 |
| Cross Research | Buy | Hold | Upgrade | Jan 12, 2022 |
| Stifel Nicolaus | Buy | Buy | Maintain | Oct 4, 2018 |
| Pivotal Research | Buy | Hold | Upgrade | Jan 31, 2018 |
| CLSA | Underperform | Underperform | Maintain | Sep 27, 2016 |
| Brean Capital | Buy | Buy | Maintain | Jun 24, 2016 |
| Macquarie | Outperform | Outperform | Maintain | Jan 11, 2016 |
| Needham | Hold | Buy | Downgrade | Jun 26, 2015 |
| Bank of America | Buy | Buy | Maintain | Aug 28, 2013 |
| Credit Agricole | Outperform | Buy | Maintain | Mar 28, 2013 |
| Sterne Agee | Neutral | Neutral | Maintain | Sep 26, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $278.38. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | David Vogt | $379 | $269.01 | +36.1% | Sep 25, 2026 |
| Morgan Stanley | Erik Woodring | $359 | $259.47 | +29.0% | Sep 25, 2026 |
| Morgan Stanley | Analyst unavailable | $334 | $261.12 | +20.0% | Sep 15, 2026 |
| Barclays | Guy Hardwick | $287 | $262.64 | +3.1% | Sep 8, 2026 |
| Barclays | Analyst unavailable | $278 | $261.35 | -0.1% | Jul 2, 2026 |
| Barrington | Vincent Colicchio | $325 | $265.6 | +16.7% | Jun 26, 2026 |
| RBC Capital | David Paige | $340 | $274.49 | +22.1% | Jun 26, 2026 |
| Goldman Sachs | Analyst unavailable | $330 | $277.63 | +18.5% | Jun 26, 2026 |
| UBS | Analyst unavailable | $352 | $277.63 | +26.4% | Jun 26, 2026 |
| Morgan Stanley | Erik Woodring | $374 | $277.63 | +34.3% | Jun 26, 2026 |
| Morgan Stanley | Erik Woodring | $341 | $283.26 | +22.5% | Jun 23, 2026 |
| Goldman Sachs | Katherine Murphy | $300 | $277.09 | +7.8% | Jun 11, 2026 |
| RBC Capital | David Paige | $315 | $278.1 | +13.2% | Jun 10, 2026 |
| UBS | Analyst unavailable | $265 | $233.31 | -4.8% | May 5, 2026 |
| Goldman Sachs | Katherine Murphy | $180 | $150.3 | -35.3% | Jan 13, 2026 |
| UBS | Analyst unavailable | $193 | $146.03 | -30.7% | Jan 9, 2026 |
| Morgan Stanley | Analyst unavailable | $172 | $146.63 | -38.2% | Jan 9, 2026 |
| Barclays | Tim Long | $163 | $146.94 | -41.4% | Jan 9, 2026 |
| Morgan Stanley | Analyst unavailable | $177 | $150.65 | -36.4% | Dec 17, 2025 |
| Barrington | Analyst unavailable | $182 | $164.64 | -34.6% | Sep 29, 2025 |
| UBS | Analyst unavailable | $187 | $164.58 | -32.8% | Sep 29, 2025 |
| RBC Capital | Analyst unavailable | $180 | $161.22 | -35.3% | Sep 26, 2025 |
| Morgan Stanley | Analyst unavailable | $181 | $159.69 | -35.0% | Sep 26, 2025 |
| Barclays | Analyst unavailable | $164 | $164.5 | -41.1% | Sep 26, 2025 |
| Goldman Sachs | Michael Ng | $164 | $159.69 | -41.1% | Sep 25, 2025 |
| Raymond James | Analyst unavailable | $175 | $159.69 | -37.1% | Sep 25, 2025 |
| Morgan Stanley | Erik Woodring | $173 | $150.26 | -37.9% | Sep 18, 2025 |
| RBC Capital | David Paige | $165 | $149.82 | -40.7% | Aug 22, 2025 |
| RBC Capital | David Paige | $145 | $137.79 | -47.9% | Jun 25, 2025 |
| Morgan Stanley | Analyst unavailable | $155 | $137.79 | -44.3% | Jun 25, 2025 |
| Barclays | George Wang | $140 | $136.88 | -49.7% | Jun 24, 2025 |
| Barrington | Analyst unavailable | $156 | $129.58 | -44.0% | Mar 20, 2025 |
| Goldman Sachs | Michael Ng | $144 | $119.67 | -48.3% | Sep 27, 2024 |
| Barclays | Tim Long | $118 | $117.29 | -57.6% | Sep 26, 2024 |
| RBC Capital | Ashish Sabadra | $140 | $115.09 | -49.7% | Jul 15, 2024 |
| UBS | David Vogt | $150 | $116.12 | -46.1% | Jun 26, 2024 |
| RBC Capital | Ashish Sabadra | $135 | $130.61 | -51.5% | Jun 11, 2024 |
| UBS | David Vogt | $145 | $111.7 | -47.9% | Apr 16, 2024 |
| Loop Capital Markets | Ananda Baruah | $150 | $118.23 | -46.1% | Apr 4, 2024 |
| RBC Capital | Analyst unavailable | $118 | $113.69 | -57.6% | Mar 27, 2024 |
| Stifel Nicolaus | Matthew Sheerin | $130 | $112.27 | -53.3% | Mar 26, 2024 |
| RBC Capital | Ashish Sabadra | $110 | $105.01 | -60.5% | Mar 22, 2024 |
| Stifel Nicolaus | Matthew Sheerin | $120 | $102.04 | -56.9% | Sep 19, 2023 |
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Start freeCompany context
Snapshot as of publicationTD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem in the United States, Europe, and internationally. It offers endpoint solutions, including personal computing devices and peripherals, mobile phones and accessories, printers, and supplies; and advanced solutions comprising data center technologies, such as hybrid cloud, security, storage, networking, servers, software, converged and hyper-converged infrastructure, and hyperscale infrastructure. The company also provides design, integration, test and other production value-added solutions, such as thermal testing, power-draw efficiency testing, burn-in, quality, and logistics support; logistics and field services; depot repair and customer management services; and cloud services, including public cloud solutions in productivity and collaboration, infrastructure as a service, platform as a service, software as a service…
Historical context
All SNX earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ACN Accenture plc | FY2026 Q4 · Calendar Q4 2026 | +3.5% | +15.8% | Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks |
| JBL Jabil Inc. | FY2026 Q4 · Calendar Q3 2026 | +8.1% | -10.0% | Jabil enters FY2027 with AI-led growth and capacity risks |
| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
Latest beats and misses
Who reports nextBeat on EPS
- RPMFY2027 Q1 · October 6, 2026+1.5% EPS+3.2% move
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
Get the SNX recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-07T03:30:45.156060+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-07T03:30:45.153657+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-07. For educational purposes only; not investment advice.