SYNNEX Corp.

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SNX : NYSE : Distribution Services
$120.63 -0.5 | -0.41%
Today's Range: 120.235 - 121.56
Avg. Daily Volume: 226100.0
02/16/18 - 4:02 PM ET

Financial Analysis


SYNNEX CORP's gross profit margin for the fourth quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago. SYNNEX CORP has weak liquidity. Currently, the Quick Ratio is 0.84 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

During the same period, stockholders' equity ("net worth") has increased by 15.58% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q4 FY17 Q4 FY16
Net Sales ($mil)5311.883886.9
EBITDA ($mil)214.59175.34
EBIT ($mil)163.0137.11
Net Income ($mil)91.0785.32


Balance Sheet Q4 FY17 Q4 FY16
Cash & Equiv. ($mil)562.0392.09
Total Assets ($mil)7698.535223.26
Total Debt ($mil)1911.0963.58
Equity ($mil)2283.71975.78


Profitability Q4 FY17 Q4 FY16
Gross Profit Margin9.6710.73
EBITDA Margin4.034.51
Operating Margin3.073.53
Sales Turnover2.212.69
Return on Assets3.914.49
Return on Equity13.1811.89
Debt Q4 FY17 Q4 FY16
Current Ratio1.421.63
Debt/Capital0.460.33
Interest Expense19.189.11
Interest Coverage8.515.05


Share Data Q4 FY17 Q4 FY16
Shares outstanding (mil)39.6739.48
Div / share0.30.25
EPS2.262.13
Book value / share57.5650.05
Institutional Own % n/a n/a
Avg Daily Volume213993.0197716.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 45.70 for the Electronic Equipment, Instruments & Components industry and a discount compared to the S&P 500 average of 25.51. To use another comparison, its price-to-book ratio of 2.10 indicates a discount versus the S&P 500 average of 3.26 and a significant discount versus the industry average of 4.01. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, SYNNEX CORP proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
SNX 16.15 Peers 45.70   SNX 27.19 Peers 21.32

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

SNX is trading at a significant discount to its peers.

 

Premium. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

SNX is trading at a significant premium to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
SNX 10.85 Peers 23.07   SNX 0.42 Peers 1.35

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

SNX is trading at a significant discount to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

SNX trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
SNX 2.10 Peers 4.01   SNX 27.55 Peers 60.38

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

SNX is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, SNX is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
SNX 0.28 Peers 3.56   SNX 21.21 Peers 14.19

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

SNX is trading at a significant discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

SNX has a sales growth rate that significantly exceeds its peers.

 

 

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