Synnex Corp

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SNX : NYSE : Services
$128.06 -0.31 | -0.24%
Today's Range: 127.975 - 131.35
Avg. Daily Volume: 223900.0
06/26/17 - 12:50 PM ET

Financial Analysis


SYNNEX CORP's gross profit margin for the second quarter of its fiscal year 2017 has increased 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 0.79 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

During the same period, stockholders' equity ("net worth") has increased by 12.90% 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 Q2 FY17 Q2 FY16
Net Sales ($mil)3936.273379.5
EBITDA ($mil)160.61108.37
EBIT ($mil)125.1379.87
Net Income ($mil)73.1544.36


Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)314.98598.38
Total Assets ($mil)5528.924442.82
Total Debt ($mil)1089.75704.22
Equity ($mil)2116.211874.39


Profitability Q2 FY17 Q2 FY16
Gross Profit Margin10.369.54
EBITDA Margin4.083.2
Operating Margin3.182.36
Sales Turnover2.723.01
Return on Assets5.044.52
Return on Equity13.1810.73
Debt Q2 FY17 Q2 FY16
Current Ratio1.621.97
Debt/Capital0.340.27
Interest Expense0.07.21
Interest Coverage0.011.08


Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)39.5239.3
Div / share0.250.2
EPS1.831.11
Book value / share53.5547.7
Institutional Own % n/a n/a
Avg Daily Volume222519.0181347.0

Valuation


BUY. This stock's P/E ratio indicates a discount compared to an average of 26.58 for the Electronic Equipment, Instruments & Components industry and a discount compared to the S&P 500 average of 25.75. For additional comparison, its price-to-book ratio of 2.28 indicates a discount versus the S&P 500 average of 3.09 and a discount versus the industry average of 3.44. 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 17.48 Peers 26.58   SNX NA Peers 16.91

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.

 

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

Ratio not available.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
SNX 14.38 Peers 20.69   SNX 0.50 Peers 0.90

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 2.28 Peers 3.44   SNX 38.01 Peers 146.17

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 0.32 Peers 3.11   SNX 12.15 Peers 7.97

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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