Intrinsic value of SYNNEX - SNX

Previous Close

$98.60

  Intrinsic Value

$10,417

stock screener

  Rating & Target

str. buy

+999%

Previous close

$98.60

 
Intrinsic value

$10,417

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of SNX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  21.20
  19.58
  18.12
  16.81
  15.63
  14.57
  13.61
  12.75
  11.97
  11.28
  10.65
  10.08
  9.58
  9.12
  8.71
  8.34
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
  6.60
  6.44
  6.29
  6.16
  6.05
  5.94
  5.85
  5.76
Revenue, $m
  20,660
  24,705
  29,182
  34,087
  39,415
  45,156
  51,301
  57,842
  64,767
  72,071
  79,745
  87,786
  96,192
  104,963
  114,101
  123,612
  133,503
  143,785
  154,470
  165,574
  177,114
  189,109
  201,582
  214,555
  228,055
  242,110
  256,750
  272,006
  287,913
  304,505
Variable operating expenses, $m
  2,717
  3,220
  3,778
  4,388
  5,051
  5,766
  6,530
  7,344
  8,206
  9,115
  9,925
  10,926
  11,972
  13,063
  14,201
  15,385
  16,616
  17,895
  19,225
  20,607
  22,043
  23,536
  25,089
  26,703
  28,383
  30,133
  31,955
  33,853
  35,833
  37,898
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,717
  3,220
  3,778
  4,388
  5,051
  5,766
  6,530
  7,344
  8,206
  9,115
  9,925
  10,926
  11,972
  13,063
  14,201
  15,385
  16,616
  17,895
  19,225
  20,607
  22,043
  23,536
  25,089
  26,703
  28,383
  30,133
  31,955
  33,853
  35,833
  37,898
Operating income, $m
  17,943
  21,485
  25,404
  29,699
  34,364
  39,390
  44,771
  50,497
  56,561
  62,955
  69,820
  76,861
  84,220
  91,899
  99,900
  108,227
  116,887
  125,890
  135,245
  144,967
  155,071
  165,573
  176,493
  187,852
  199,672
  211,978
  224,795
  238,153
  252,079
  266,607
EBITDA, $m
  18,264
  21,840
  25,798
  30,135
  34,844
  39,920
  45,353
  51,134
  57,257
  63,713
  70,498
  77,607
  85,038
  92,791
  100,870
  109,278
  118,022
  127,112
  136,558
  146,375
  156,576
  167,180
  178,207
  189,676
  201,610
  214,036
  226,978
  240,465
  254,527
  269,195
Interest expense (income), $m
  18
  105
  167
  236
  313
  397
  488
  587
  692
  804
  923
  1,048
  1,180
  1,318
  1,462
  1,612
  1,769
  1,932
  2,102
  2,278
  2,461
  2,651
  2,849
  3,055
  3,269
  3,491
  3,723
  3,964
  4,215
  4,476
  4,749
Earnings before tax, $m
  17,838
  21,318
  25,168
  29,387
  33,967
  38,902
  44,184
  49,805
  55,757
  62,032
  68,772
  75,681
  82,903
  90,437
  98,288
  106,458
  114,955
  123,788
  132,967
  142,506
  152,419
  162,724
  173,438
  184,583
  196,181
  208,255
  220,832
  233,938
  247,603
  261,858
Tax expense, $m
  4,816
  5,756
  6,795
  7,934
  9,171
  10,504
  11,930
  13,447
  15,054
  16,749
  18,568
  20,434
  22,384
  24,418
  26,538
  28,744
  31,038
  33,423
  35,901
  38,477
  41,153
  43,935
  46,828
  49,837
  52,969
  56,229
  59,625
  63,163
  66,853
  70,702
Net income, $m
  13,022
  15,562
  18,373
  21,452
  24,796
  28,399
  32,254
  36,358
  40,702
  45,283
  50,203
  55,247
  60,519
  66,019
  71,750
  77,715
  83,917
  90,365
  97,066
  104,029
  111,266
  118,788
  126,610
  134,746
  143,212
  152,026
  161,207
  170,775
  180,750
  191,156

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  9,331
  11,159
  13,181
  15,396
  17,803
  20,396
  23,171
  26,125
  29,253
  32,552
  36,019
  39,651
  43,447
  47,409
  51,536
  55,832
  60,299
  64,944
  69,770
  74,785
  79,997
  85,415
  91,049
  96,908
  103,006
  109,354
  115,967
  122,857
  130,042
  137,536
Adjusted assets (=assets-cash), $m
  9,331
  11,159
  13,181
  15,396
  17,803
  20,396
  23,171
  26,125
  29,253
  32,552
  36,019
  39,651
  43,447
  47,409
  51,536
  55,832
  60,299
  64,944
  69,770
  74,785
  79,997
  85,415
  91,049
  96,908
  103,006
  109,354
  115,967
  122,857
  130,042
  137,536
Revenue / Adjusted assets
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
  2.214
Average production assets, $m
  1,756
  2,100
  2,480
  2,897
  3,350
  3,838
  4,361
  4,917
  5,505
  6,126
  6,778
  7,462
  8,176
  8,922
  9,699
  10,507
  11,348
  12,222
  13,130
  14,074
  15,055
  16,074
  17,134
  18,237
  19,385
  20,579
  21,824
  23,121
  24,473
  25,883
Working capital, $m
  -578
  -692
  -817
  -954
  -1,104
  -1,264
  -1,436
  -1,620
  -1,813
  -2,018
  -2,233
  -2,458
  -2,693
  -2,939
  -3,195
  -3,461
  -3,738
  -4,026
  -4,325
  -4,636
  -4,959
  -5,295
  -5,644
  -6,008
  -6,386
  -6,779
  -7,189
  -7,616
  -8,062
  -8,526
Total debt, $m
  3,087
  4,371
  5,793
  7,351
  9,042
  10,865
  12,817
  14,893
  17,092
  19,411
  21,848
  24,401
  27,070
  29,855
  32,757
  35,777
  38,918
  42,182
  45,575
  49,101
  52,765
  56,574
  60,534
  64,654
  68,940
  73,403
  78,052
  82,896
  87,946
  93,215
Total liabilities, $m
  6,560
  7,844
  9,266
  10,824
  12,515
  14,338
  16,289
  18,366
  20,565
  22,884
  25,321
  27,874
  30,543
  33,328
  36,230
  39,250
  42,391
  45,655
  49,048
  52,574
  56,238
  60,047
  64,007
  68,127
  72,413
  76,876
  81,525
  86,369
  91,419
  96,688
Total equity, $m
  2,771
  3,314
  3,915
  4,573
  5,287
  6,058
  6,882
  7,759
  8,688
  9,668
  10,698
  11,776
  12,904
  14,080
  15,306
  16,582
  17,909
  19,288
  20,722
  22,211
  23,759
  25,368
  27,041
  28,782
  30,593
  32,478
  34,442
  36,489
  38,622
  40,848
Total liabilities and equity, $m
  9,331
  11,158
  13,181
  15,397
  17,802
  20,396
  23,171
  26,125
  29,253
  32,552
  36,019
  39,650
  43,447
  47,408
  51,536
  55,832
  60,300
  64,943
  69,770
  74,785
  79,997
  85,415
  91,048
  96,909
  103,006
  109,354
  115,967
  122,858
  130,041
  137,536
Debt-to-equity ratio
  1.110
  1.320
  1.480
  1.610
  1.710
  1.790
  1.860
  1.920
  1.970
  2.010
  2.040
  2.070
  2.100
  2.120
  2.140
  2.160
  2.170
  2.190
  2.200
  2.210
  2.220
  2.230
  2.240
  2.250
  2.250
  2.260
  2.270
  2.270
  2.280
  2.280
Adjusted equity ratio
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297
  0.297

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  13,022
  15,562
  18,373
  21,452
  24,796
  28,399
  32,254
  36,358
  40,702
  45,283
  50,203
  55,247
  60,519
  66,019
  71,750
  77,715
  83,917
  90,365
  97,066
  104,029
  111,266
  118,788
  126,610
  134,746
  143,212
  152,026
  161,207
  170,775
  180,750
  191,156
Depreciation, amort., depletion, $m
  321
  356
  394
  435
  481
  529
  582
  637
  696
  758
  678
  746
  818
  892
  970
  1,051
  1,135
  1,222
  1,313
  1,407
  1,505
  1,607
  1,713
  1,824
  1,938
  2,058
  2,182
  2,312
  2,447
  2,588
Funds from operations, $m
  13,343
  15,918
  18,767
  21,887
  25,276
  28,928
  32,836
  36,995
  41,398
  46,042
  50,881
  55,993
  61,336
  66,912
  72,720
  78,765
  85,052
  91,588
  98,379
  105,437
  112,772
  120,396
  128,323
  136,569
  145,150
  154,084
  163,389
  173,087
  183,198
  193,744
Change in working capital, $m
  -101
  -113
  -125
  -137
  -149
  -161
  -172
  -183
  -194
  -204
  -215
  -225
  -235
  -246
  -256
  -266
  -277
  -288
  -299
  -311
  -323
  -336
  -349
  -363
  -378
  -394
  -410
  -427
  -445
  -465
Cash from operations, $m
  13,444
  16,031
  18,892
  22,025
  25,426
  29,089
  33,008
  37,178
  41,592
  46,246
  51,096
  56,218
  61,572
  67,157
  72,976
  79,032
  85,329
  91,875
  98,678
  105,748
  113,095
  120,732
  128,673
  136,933
  145,528
  154,478
  163,799
  173,514
  183,643
  194,209
Maintenance CAPEX, $m
  -145
  -176
  -210
  -248
  -290
  -335
  -384
  -436
  -492
  -551
  -613
  -678
  -746
  -818
  -892
  -970
  -1,051
  -1,135
  -1,222
  -1,313
  -1,407
  -1,505
  -1,607
  -1,713
  -1,824
  -1,938
  -2,058
  -2,182
  -2,312
  -2,447
New CAPEX, $m
  -306
  -344
  -381
  -417
  -453
  -488
  -522
  -556
  -589
  -621
  -652
  -684
  -714
  -746
  -777
  -808
  -841
  -874
  -908
  -944
  -981
  -1,020
  -1,060
  -1,103
  -1,148
  -1,195
  -1,244
  -1,297
  -1,352
  -1,410
Cash from investing activities, $m
  -451
  -520
  -591
  -665
  -743
  -823
  -906
  -992
  -1,081
  -1,172
  -1,265
  -1,362
  -1,460
  -1,564
  -1,669
  -1,778
  -1,892
  -2,009
  -2,130
  -2,257
  -2,388
  -2,525
  -2,667
  -2,816
  -2,972
  -3,133
  -3,302
  -3,479
  -3,664
  -3,857
Free cash flow, $m
  12,993
  15,511
  18,301
  21,360
  24,683
  28,266
  32,102
  36,186
  40,512
  45,075
  49,831
  54,857
  60,111
  65,594
  71,307
  77,253
  83,438
  89,867
  96,548
  103,491
  110,706
  118,207
  126,005
  134,116
  142,557
  151,344
  160,497
  170,035
  179,979
  190,351
Issuance/(repayment) of debt, $m
  1,145
  1,284
  1,422
  1,558
  1,692
  1,823
  1,951
  2,077
  2,199
  2,319
  2,437
  2,553
  2,669
  2,785
  2,902
  3,020
  3,141
  3,265
  3,393
  3,526
  3,664
  3,809
  3,960
  4,119
  4,287
  4,463
  4,648
  4,844
  5,051
  5,269
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,145
  1,284
  1,422
  1,558
  1,692
  1,823
  1,951
  2,077
  2,199
  2,319
  2,437
  2,553
  2,669
  2,785
  2,902
  3,020
  3,141
  3,265
  3,393
  3,526
  3,664
  3,809
  3,960
  4,119
  4,287
  4,463
  4,648
  4,844
  5,051
  5,269
Total cash flow (excl. dividends), $m
  14,138
  16,796
  19,723
  22,917
  26,375
  30,089
  34,053
  38,263
  42,711
  47,394
  52,268
  57,410
  62,780
  68,379
  74,209
  80,273
  86,578
  93,131
  99,941
  107,017
  114,371
  122,015
  129,965
  138,236
  146,844
  155,807
  165,145
  174,879
  185,029
  195,620
Retained Cash Flow (-), $m
  -487
  -543
  -601
  -658
  -715
  -770
  -824
  -877
  -929
  -980
  -1,030
  -1,079
  -1,128
  -1,177
  -1,226
  -1,276
  -1,327
  -1,379
  -1,433
  -1,490
  -1,548
  -1,609
  -1,673
  -1,740
  -1,811
  -1,885
  -1,964
  -2,047
  -2,134
  -2,226
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  17
  21
  25
  29
  34
  39
  45
  51
  58
  65
  72
  80
  88
  96
  105
  114
  124
  134
  144
  154
  166
  177
  189
  202
  215
  228
  242
  257
  272
  288
Cash available for distribution, $m
  13,651
  16,253
  19,122
  22,259
  25,660
  29,318
  33,229
  37,385
  41,782
  46,414
  51,239
  56,332
  61,653
  67,202
  72,983
  78,997
  85,252
  91,752
  98,507
  105,527
  112,823
  120,406
  128,292
  136,495
  145,033
  153,922
  163,182
  172,832
  182,896
  193,394
Discount rate, %
  4.70
  4.94
  5.18
  5.44
  5.71
  6.00
  6.30
  6.61
  6.94
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.77
  11.31
  11.88
  12.47
  13.09
  13.75
  14.44
  15.16
  15.92
  16.71
  17.55
  18.42
  19.35
PV of cash for distribution, $m
  13,038
  14,760
  16,433
  18,009
  19,436
  20,670
  21,668
  22,398
  22,834
  22,962
  22,761
  22,274
  21,501
  20,468
  19,212
  17,775
  16,204
  14,549
  12,860
  11,183
  9,563
  8,035
  6,629
  5,365
  4,257
  3,308
  2,515
  1,869
  1,356
  960
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix. The Company's Technology Solutions segment distributes peripherals, information technology (IT) systems, including data center server and storage solutions, system components, software, networking/communications/security equipment, and consumer electronics (CE) and complementary products. Within its Technology Solutions segment, the Company also provides systems design and integration solutions. The Company's Concentrix segment offers a portfolio of solutions and end-to-end business services focused on customer engagement strategy, process optimization, technology innovation, front and back-office automation and business transformation.

FINANCIAL RATIOS  of  SYNNEX (SNX)

Valuation Ratios
P/E Ratio 16.6
Price to Sales 0.3
Price to Book 2
Price to Tangible Book
Price to Cash Flow 11.9
Price to Free Cash Flow 19.1
Growth Rates
Sales Growth Rate 5.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 23%
Cap. Spend. - 3 Yr. Gr. Rate 33.5%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 30.4%
Total Debt to Equity 48.8%
Interest Coverage 21
Management Effectiveness
Return On Assets 5.1%
Ret/ On Assets - 3 Yr. Avg. 4.9%
Return On Total Capital 8.6%
Ret/ On T. Cap. - 3 Yr. Avg. 8.3%
Return On Equity 12.5%
Return On Equity - 3 Yr. Avg. 12.1%
Asset Turnover 2.9
Profitability Ratios
Gross Margin 9.1%
Gross Margin - 3 Yr. Avg. 8.7%
EBITDA Margin 3.5%
EBITDA Margin - 3 Yr. Avg. 3.2%
Operating Margin 2.7%
Oper. Margin - 3 Yr. Avg. 2.5%
Pre-Tax Margin 2.5%
Pre-Tax Margin - 3 Yr. Avg. 2.3%
Net Profit Margin 1.7%
Net Profit Margin - 3 Yr. Avg. 1.5%
Effective Tax Rate 34%
Eff/ Tax Rate - 3 Yr. Avg. 35.6%
Payout Ratio 14.5%

SNX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SNX stock intrinsic value calculation we used $17046 million for the last fiscal year's total revenue generated by SYNNEX. The default revenue input number comes from 2017 income statement of SYNNEX. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SNX stock valuation model: a) initial revenue growth rate of 21.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.7%, whose default value for SNX is calculated based on our internal credit rating of SYNNEX, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of SYNNEX.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SNX stock the variable cost ratio is equal to 13.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SNX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for SYNNEX.

Corporate tax rate of 27% is the nominal tax rate for SYNNEX. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SNX stock is equal to 0.1%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SNX are equal to 8.5%.

Life of production assets of 10 years is the average useful life of capital assets used in SYNNEX operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SNX is equal to -2.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2284 million for SYNNEX - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 40 million for SYNNEX is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of SYNNEX at the current share price and the inputted number of shares is $3.9 billion.

RELATED COMPANIES Price Int.Val. Rating
SCSC Scansource 41.50 46.43  buy
TECD Tech Data 85.52 949.25  str.buy
ARW Arrow Electron 76.77 256.57  str.buy
AVT Avnet 43.61 31.59  sell
XRX Xerox 25.09 18.69  sell
BSQR BSQUARE 2.50 0.52  str.sell
CVG Convergys 24.98 29.96  buy
PLUS ePlus 101.50 18.35  str.sell

COMPANY NEWS

▶ WeissLaw LLP Investigates Convergys Corporation   [Jun-29-18 07:23PM  PR Newswire]
▶ [$$] Synnex to Buy Convergys for About $2.4 Billion   [Jun-28-18 08:21PM  The Wall Street Journal]
▶ Convergys to be sold for $2.8 billion   [06:02PM  American City Business Journals]
▶ [$$] Synnex to Buy Convergys   [05:57PM  The Wall Street Journal]
▶ Synnex: Fiscal 2Q Earnings Snapshot   [04:36PM  Associated Press]
▶ Sunex SA (WSE:SNX): A Fundamentally Attractive Investment   [Jun-27-18 05:18AM  Simply Wall St.]
▶ Should You Buy SYNNEX Corporation (NYSE:SNX) Now?   [Jun-25-18 10:20AM  Simply Wall St.]
▶ Tech Datas new CEO will pivot toward new areas of growth, analyst says   [Apr-20-18 07:20AM  American City Business Journals]
▶ Company News For April 3, 2018   [Apr-03-18 10:13AM  Zacks]
▶ Best Undervalued Stock in April   [10:02AM  Simply Wall St.]
▶ SYNNEX (SNX) Q1 2018 Earnings Conference Call Transcript   [Apr-02-18 05:35PM  Motley Fool]
▶ Synnex beats Street 1Q forecasts   [04:34PM  Associated Press]
▶ Top Ranked Value Stocks to Buy for February 2nd   [Feb-02-18 07:03AM  Zacks]
▶ Top Ranked Value Stocks to Buy for January 31st   [Jan-31-18 06:52AM  Zacks]
▶ Largest Insider Trades of the Week   [Jan-19-18 04:00PM  GuruFocus.com]
▶ Synnex tops Street 4Q forecasts   [04:38PM  Associated Press]
▶ Synnex's Earnings Preview   [11:21AM  Benzinga]
▶ /C O R R E C T I O N -- SYNNEX Corporation/   [Dec-22-17 04:51PM  PR Newswire]
▶ SYNNEX Corp. Value Analysis (NYSE:SNX) : December 8, 2017   [Dec-08-17 02:12PM  Capital Cube]
▶ Bull of the Day: SYNNEX (SNX)   [06:18AM  Zacks]
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.