Financials Synnex Technology International Corporation

Equities

2347

TW0002347002

Computer Hardware

End-of-day quote Taiwan S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
79 TWD +3.27% Intraday chart for Synnex Technology International Corporation +0.38% +12.54%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 62,548 78,394 110,418 98,742 117,090 131,768 -
Enterprise Value (EV) 1 93,879 120,275 158,441 147,524 179,277 181,341 178,508
P/E ratio 9.17 x 9.61 x 6.4 x 6.27 x 16.1 x 15.7 x 14.9 x
Yield 6.93% 7.02% 7.55% 5.91% 4.27% 4.56% 4.81%
Capitalization / Revenue 0.18 x 0.23 x 0.27 x 0.23 x 0.3 x 0.3 x 0.28 x
EV / Revenue 0.28 x 0.36 x 0.39 x 0.35 x 0.45 x 0.41 x 0.38 x
EV / EBITDA 14 x 15.2 x 15.9 x 15.1 x 19.3 x 16.7 x 15.6 x
EV / FCF 5.14 x -21.2 x -15.3 x -9.58 x 11.9 x -33.2 x 27.5 x
FCF Yield 19.4% -4.73% -6.54% -10.4% 8.43% -3.01% 3.63%
Price to Book 1.26 x 1.44 x 1.74 x 1.36 x 1.63 x 1.7 x 1.64 x
Nbr of stocks (in thousands) 1,667,947 1,667,947 1,667,947 1,667,947 1,667,947 1,667,947 -
Reference price 2 37.50 47.00 66.20 59.20 70.20 79.00 79.00
Announcement Date 3/12/20 3/14/21 3/8/22 3/8/23 3/15/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 339,995 334,201 408,812 424,550 395,991 438,820 464,763
EBITDA 1 6,708 7,908 9,988 9,758 9,307 10,843 11,470
EBIT 1 5,979 7,234 9,333 9,138 8,634 9,562 10,138
Operating Margin 1.76% 2.16% 2.28% 2.15% 2.18% 2.18% 2.18%
Earnings before Tax (EBT) 1 8,890 10,501 23,232 20,275 10,517 11,343 12,090
Net income 1 6,815 8,159 17,272 15,749 7,289 8,389 8,828
Net margin 2% 2.44% 4.22% 3.71% 1.84% 1.91% 1.9%
EPS 2 4.090 4.890 10.35 9.440 4.370 5.030 5.290
Free Cash Flow 1 18,255 -5,685 -10,368 -15,392 15,113 -5,455 6,488
FCF margin 5.37% -1.7% -2.54% -3.63% 3.82% -1.24% 1.4%
FCF Conversion (EBITDA) 272.15% - - - 162.38% - 56.56%
FCF Conversion (Net income) 267.85% - - - 207.33% - 73.49%
Dividend per Share 2 2.600 3.300 5.000 3.500 3.000 3.600 3.800
Announcement Date 3/12/20 3/14/21 3/8/22 3/8/23 3/15/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 101,570 123,931 100,865 103,353 108,793 111,538 88,600 98,234 114,207 103,400 105,906 111,208 118,306 110,920
EBITDA - - 2,314 2,073 - - - - - - - - - -
EBIT 1 2,322 2,810 2,295 1,987 2,005 2,851 2,065 1,916 2,625 2,431 2,171 2,230 2,730 2,656
Operating Margin 2.29% 2.27% 2.28% 1.92% 1.84% 2.56% 2.33% 1.95% 2.3% 2.35% 2.05% 2.01% 2.31% 2.39%
Earnings before Tax (EBT) 1 12,440 3,891 3,243 3,030 10,616 3,385 2,396 2,426 3,000 2,702 2,773 2,827 3,206 -
Net income 1 8,348 3,051 2,545 2,378 8,362 2,464 1,731 1,699 2,160 2,188 2,030 2,027 2,145 2,357
Net margin 8.22% 2.46% 2.52% 2.3% 7.69% 2.21% 1.95% 1.73% 1.89% 2.12% 1.92% 1.82% 1.81% 2.12%
EPS 2 5.000 1.820 1.530 1.430 5.010 1.480 1.040 1.020 1.300 1.310 1.215 1.215 1.290 1.410
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 11/12/21 3/8/22 5/4/22 8/4/22 11/3/22 3/8/23 5/8/23 11/7/23 3/15/24 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 31,331 41,882 48,023 48,781 62,187 49,573 46,740
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 4.671 x 5.296 x 4.808 x 4.999 x 6.682 x 4.572 x 4.075 x
Free Cash Flow 1 18,255 -5,685 -10,368 -15,392 15,113 -5,455 6,488
ROE (net income / shareholders' equity) 14% 15.6% 29.2% 23.1% 10.1% 10.8% 10.9%
ROA (Net income/ Total Assets) 4.62% 5.31% 9.56% 7.44% 3.34% 3.74% 3.87%
Assets 1 147,602 153,682 180,680 211,590 217,942 224,305 228,409
Book Value Per Share 2 29.90 32.70 38.10 43.50 43.10 46.40 48.20
Cash Flow per Share - - - - - - -
Capex 1 258 763 445 304 999 459 469
Capex / Sales 0.08% 0.23% 0.11% 0.07% 0.25% 0.1% 0.1%
Announcement Date 3/12/20 3/14/21 3/8/22 3/8/23 3/15/24 - -
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
79 TWD
Average target price
73.37 TWD
Spread / Average Target
-7.13%
Consensus
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