Td Synnex Corporation · NYSE:SNX
Td Synnex — Investor Day (April 2025)
29 slides from Td Synnex's investor day presentation, Apr 10, 2025
Slide 1: Financial Priorities and Value Creation
© TD SYNNEX Financial Priorities = =~ and Value Creation
Slide 2: Forward-looking statements
Statements in this Presentation regarding TD SYNNEX that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements are inherently uncertain, and sto
Slide 3: Non-GAAP information and no offer or solicitation
During these presentations, we also will be referring to certain non-GAAP financial information. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of GAAP to non-GAAP results are included in today’s slide presentations. In addition,
Slide 4: Global leader with sustainable competitive advantages
• Global leader with sustainable competitive advantages, serving a large addressable market • Diversified business model with unparalleled customer and vendor relationships • Significant cash flow generation with key focus on return on invested capital • Experienced management team committed to driv
Slide 5: 2021 2022 2023 2024 2021 2022 2023 2024 2021 2 2023 2024 2021 2022
2021 2022 2023 2024 2021 2022 2023 2024 63 96 93 86 2021 2022 2023 2024 2021 2022 2023 2024
Slide 6: Grow faster than the market by extending our reach and broadening capabilities
Grow faster than the market by extending our reach and broadening capabilities Strengthen partnerships, optimize productivity and pricing, and expand service offerings to grow margins Non-GAAP Diluted EPS1 growth driven by improved mix and prudent cost management Non-GAAP Net Income1 to FCF1 convers
Slide 7: FY25E to FY28E Advanced Solutions and Endpoint Solutions
FY25E Advanced Solutions Endpoint Solutions FY28E • GDP+ growth • Attach services • Expand in LATAM & APJ • Expand demand gen and • Leverage specialist GTM to accelerate marketing services growth in higher margin segments • Leading AS Distributor Globally • Attach services and expand • Expand AI, Se
Slide 8: Augment workforce and optimize processes through automation and AI
Augment workforce and optimize processes through automation and AI Simplify organizational structure and drive greater agility in decision-making Optimize and enhance business processes to drive greater efficiency Finalize ERP standardization in regions and optimize functionalities 2023 2024 Future
Slide 9: Gross billings growth, margin accretion and SG&A efficiencies
FY25E Non-GAAP Gross Margin Accretion Share FY28E Billings1 Growth and SG&A Efficiencies Repurchases • Leverage specialist go to market to accelerate growth in higher margin segments • Drive accretive margins by accelerating services growth • Disciplined cost management with the goal to grow adjuste
Slide 10: Operating profit growth and cash efficiency
FY21 FY22 FY23 FY24 FY25E • Drive Non-GAAP operating profit1 growth via improved mix and operational excellence • Improve cash days via business mix and continued efficiencies in Hyve • Disciplined capex management that prioritizes long term ROI FY21 FY22 FY23 FY24
Slide 11: Maximize shareholder returns through dividends and buybacks
• Maximize shareholder returns through dividends and buybacks • Execute against authorized share repurchase plan • Complete additional buybacks at favorable valuations • Disciplined M&A that accelerates our strategy • Strategic internal levers • Work to maintain IG rating & 2x gross leverage floor •
Slide 12: By product
By product1 % of total Software Server and Storage PCs Networking Peripherals + Print Services Mobile % Margin ODM/CM
Slide 13: Grow faster than the market by extending our reach and capturing market share
Grow faster than the market Non-GAAP Diluted EPS growth Maximize shareholder returns by extending our reach and driven by gross margin improvement through dividends and capturing market share and disciplined cost management share repurchases
Slide 14: Appendix
© TD SYNNEX Appendix a ¢ ¢ / ‘ / ‘ / / i
Slide 15: Non-GAAP financial measures
Non-GAAP financial measures In addition to the financial results presented in accordance with GAAP, TD SYNNEX uses and refers to: • Non-GAAP gross billings which adjusts revenues to exclude costs related to sales of third-party supplier service contracts, adjustments required for such reconciliation
Slide 16: Reconciliation of GAAP to Non-GAAP financial measures
Reconciliation of GAAP to Non-GAAP financial measures TD SYNNEX (Currency in thousands) (Amounts may not add or compute due to rounding) Year Ended Gross profit as a % of non-GAAP gross billings November 30, 2024 November 30, 2023 November 20, 2022 Revenue $ 58,452,436 $ 57,555,416 $ 62,343,810 Cost
Slide 17: Reconciliation of GAAP to Non-GAAP financial measures
Reconciliation of GAAP to Non-GAAP financial measures TD SYNNEX (Currency in thousands, except per share amounts) (Amounts may not add or compute due to rounding) Twelve Months Ended Free cash flow November 30, 2024 November 30, 2023 November 30, 2022 November 30, 2021 Net cash provided by (used in)
Slide 18: Reconciliation of GAAP to Non-GAAP financial measures
Reconciliation of GAAP to Non-GAAP financial measures TD SYNNEX (Currency in thousands, except per share amounts) (Amounts may not add or compute due to rounding) Twelve Months Ended Non-GAAP net income and non-GAAP diluted EPS(1) November 30, 2024 November 30, 2023 November 30, 2022 November 30, 20
Slide 19: Calculation of financial metrics
Calculation of financial metrics TD SYNNEX (Currency in thousands) (Amounts may not add or compute due to rounding) Leverage ratio November 30, 2024 November 30, 2023 November 30, 2022 November 30, 2021 Total borrowings (a) $ 3,907,491 $ 4,082,778 $ 4,103,793 $ 4,136,432 Less: book overdraft — — — 4
Slide 20: Reconciliation of GAAP to Non-GAAP financial measures
Reconciliation of GAAP to Non-GAAP financial measures TD SYNNEX (Currency in thousands) (Unaudited) (Amounts may not add or compute due to rounding) Fiscal Year Ended November 30, November 30, November 30, 2024 2023 2022 Net income $ 689,091 $ 626,911 $ 651,307 Interest expense and finance charges,
Slide 21: TD SYNNEX results
TD SYNNEX results TD SYNNEX (Currency in millions) (Amounts may not add or compute due to rounding) Three Months Ended November 30, 2021 Revenue $ 15,611.3 Costs incurred and netted against revenue related to sales of third-party supplier service contracts, software as a service arrangements and cer
Slide 22: Legacy SYNNEX results
Legacy SYNNEX results SYNNEX CORPORATION (Currency in millions) (Unaudited) (Amounts may not add or compute due to rounding) Three Months Ended August 31, May 31, February 28, 2021 2021 2021 Revenue $ 5,207.1 $ 5,856.8 $ 4,939.0 Costs incurred and netted against revenue related to sales of third-par
Slide 23: Legacy Tech Data results
Legacy Tech Data results TIGER PARENT (AP) CORPORATION AND SUBSIDIARIES (Currency in millions) (Unaudited) (Amounts may not add or compute due to rounding) Three Months Ended August 31, May 31, February 28, 2021 2021 2021 Revenue $ 9,132.1 $ 9,570.6 $ 10,306.6 Costs incurred and netted against reven
Slide 24: Combined results
Combined results Combined (Legacy SYNNEX and Legacy Tech Data) (Currency in millions) (Unaudited) (Amounts may not add or compute due to rounding) Trailing Twelve Months for Period Ended November 30, 2021 Revenue $ 60,623.5 Costs incurred and netted against revenue related to sales of third-party su
Slide 25: Reconciliation of GAAP to Non-GAAP financial measures
Reconciliation of GAAP to Non-GAAP financial measures TD SYNNEX (Currency in thousands) (Amounts may not add or compute due to rounding) Fiscal Year Ended Adjusted selling, general and administrative expenses as a % of gross profit November 30, 2024 November 30, 2023 Gross profit $ 3,981,306 $ 3,956
Slide 26: Reconciliation of GAAP to Non-GAAP financial measures
Reconciliation of GAAP to Non-GAAP financial measures TD SYNNEX (Currency in thousands) (Amounts may not add or compute due to rounding) Trailing Twelve Months for the Period Ended Three Months Ended February 28, February 28, November 30, August 31, May 31, 2025 2025 2024 2024 2024 Net income $ 684,
Slide 27: Reconciliation of GAAP to Non-GAAP financial measures
Reconciliation of GAAP to Non-GAAP financial measures TD SYNNEX (Currency in thousands) (Unaudited) (Amounts may not add or compute due to rounding) Trailing Twelve Months for Period Ended Three Months Ended Non-GAAP gross billings February 28, 2025 February 28, 2025 November 30, 2024 August 31, 202
Slide 28: Forecast reconciliation: non-GAAP net income and EPS
Reconciliation of GAAP to Non-GAAP financial measures TD SYNNEX (Currency in millions, except per share amounts) (Amounts may not add or compute due to rounding) Forecast Fiscal Year Ending November 30, 2025 Non-GAAP net income and non-GAAP diluted EPS(1) Low High Net income $ 661 $ 701 Amortization
Slide 29: Forecast reconciliation: free cash flow
Reconciliation of GAAP to Non-GAAP financial measures TD SYNNEX (Currency in millions) (Amounts may not add or compute due to rounding) Forecast Fiscal Year Ending Free cash flow November 30, 2025 Net cash provided by operating activities $ 1,265 Purchases of property and equipment (165) Free cash f