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TD Synnex 8-K Report, Financial Results (Sep 25, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed September 25, 2025
Period End
September 25, 2025
Security
SNX
In the record · 2016–202610-K1110-Q338-K163

SNX filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 163 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Oct ’18Oct ’18
  2. Deal closed8-K · Dec ’20Dec ’20
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Material agreement8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed September 25, 2025. Cited figures are marked; the original filing is the authoritative source.

TD SYNNEX Corporation (NYSE: SNX) furnished an 8-K on September 25, 2025 reporting record fiscal 2025 third-quarter results for the quarter ended August 31, 2025, along with a quarterly cash dividend of $0.44a per common share.

Revenue was $15.65 billionb, up 6.6% year over year (4.4% on a constant currency basis), and above the high end of the company's outlook. Non-GAAP gross billings were $22.73 billion, up 12.1% (10.1% constant currency). GAAP diluted EPS was $2.74, compared to $2.08 a year earlier, and non-GAAP diluted EPS was $3.58, compared to $2.86.

The filing notes that a greater share of sales was presented on a net basis due to product mix, which reduced revenue growth by approximately 5% but added about 35 basis points to gross margin. Cash provided by operations was $246 millionc and free cash flow was $214 million in the quarter. The company returned $210 million to stockholders through $174 million of share repurchases and $36 million of dividends.

For the nine months ended August 31, 2025, operating cash flow was $71.3 milliond, and free cash flow was negative $32.7 million, reflecting the working capital build in accounts receivable and inventories. For the fiscal 2025 fourth quarter, management guided to revenue of $16.5 to $17.3 billion, non-GAAP gross billings of $23.0 to $24.0 billion, GAAP diluted EPS of $2.50 to $3.00, and non-GAAP diluted EPS of $3.45 to $3.95, based on an estimated 80.7 million diluted weighted average shares. The dividend is payable October 31, 2025 to holders of record on October 17, 2025.

02—Key points

Key Highlights

  1. Record fiscal Q3 2025 non-GAAP gross billings of $22.73 billion, up 12.1% year over year, and revenue of $15.65 billion, up 6.6%, both above the high end of outlook.
  2. GAAP diluted EPS of $2.74 (vs. $2.08) and non-GAAP diluted EPS of $3.58 (vs. $2.86), above the high end of outlook.
  3. Operating income of $383.7 million (vs. $302.9 million); non-GAAP operating income of $474.9 million (vs. $392.9 million).
  4. Cash from operations of $246 million and free cash flow of $214 million in the quarter; nine-month free cash flow was negative $32.7 million.
  5. Returned $210 million to stockholders in the quarter ($174 million in share repurchases and $36 million in dividends); quarterly dividend declared at $0.44 per share, up 10% year over year.
  6. Americas, Europe and APJ all grew revenue and non-GAAP gross billings; Europe non-GAAP gross billings rose 14.9% and APJ rose 29.7%.
  7. Q4 FY2025 outlook: revenue of $16.5–$17.3 billion, non-GAAP diluted EPS of $3.45–$3.95, and GAAP diluted EPS of $2.50–$3.00.

03—Questions

Frequently Asked Questions

  1. How did TD SYNNEX perform in its fiscal 2025 third quarter?

    Revenue was $15.65 billion, up 6.6% year over year, and non-GAAP gross billings were $22.73 billion, up 12.1%. Both exceeded the high end of the company's outlook. GAAP diluted EPS was $2.74 and non-GAAP diluted EPS was $3.58.

  2. Why did revenue grow less than gross billings?

    The filing states that a greater percentage of sales were presented on a net basis due to product mix, which reduced revenue compared to the prior-year quarter by approximately 5%. The same mix shift positively affected gross margin by approximately 35 basis points.

  3. What is the dividend and when is it payable?

    The Board declared a quarterly cash dividend of $0.44 per common share, up 10% year over year, payable October 31, 2025 to stockholders of record as of October 17, 2025.

  4. What is the company's outlook for the fourth quarter of fiscal 2025?

    Management expects revenue of $16.5–$17.3 billion, non-GAAP gross billings of $23.0–$24.0 billion, GAAP diluted EPS of $2.50–$3.00, and non-GAAP diluted EPS of $3.45–$3.95, based on an estimated 80.7 million diluted weighted average shares.

  5. How much cash did the company return to shareholders and how strong was its cash generation?

    In the quarter, the company returned $210 million through $174 million in share repurchases and $36 million in dividends. Cash from operations was $246 million and free cash flow was $214 million, though nine-month operating cash flow was $71.3 million and free cash flow was negative $32.7 million.

04—Continue

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