Intrinsic value of SYNNEX - SNX

Previous Close

$94.36

  Intrinsic Value

$381.94

stock screener

  Rating & Target

str. buy

+305%

Previous close

$94.36

 
Intrinsic value

$381.94

 
Up/down potential

+305%

 
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 0001), $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 3.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  26.30
  24.17
  22.25
  20.53
  18.97
  17.58
  16.32
  15.19
  14.17
  13.25
  12.43
  11.68
  11.02
  10.41
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
  7.33
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.11
  6.00
Revenue, $m
  21,529
  26,732
  32,681
  39,390
  46,864
  55,101
  64,093
  73,828
  84,288
  95,458
  107,321
  119,860
  133,064
  146,921
  161,427
  176,577
  192,376
  208,828
  225,946
  243,744
  262,243
  281,467
  301,445
  322,208
  343,792
  366,239
  389,591
  413,896
  439,205
  465,571
Variable operating expenses, $m
  20,565
  25,500
  31,142
  37,505
  44,594
  52,407
  60,936
  70,168
  80,090
  90,684
  101,790
  113,683
  126,206
  139,349
  153,107
  167,477
  182,461
  198,065
  214,300
  231,182
  248,727
  266,961
  285,908
  305,601
  326,073
  347,363
  369,512
  392,564
  416,568
  441,576
Fixed operating expenses, $m
  241
  246
  252
  257
  263
  269
  275
  281
  287
  293
  300
  306
  313
  320
  327
  334
  342
  349
  357
  365
  373
  381
  389
  398
  407
  416
  425
  434
  444
  453
Total operating expenses, $m
  20,806
  25,746
  31,394
  37,762
  44,857
  52,676
  61,211
  70,449
  80,377
  90,977
  102,090
  113,989
  126,519
  139,669
  153,434
  167,811
  182,803
  198,414
  214,657
  231,547
  249,100
  267,342
  286,297
  305,999
  326,480
  347,779
  369,937
  392,998
  417,012
  442,029
Operating income, $m
  723
  986
  1,287
  1,627
  2,007
  2,425
  2,883
  3,379
  3,912
  4,481
  5,231
  5,871
  6,545
  7,252
  7,993
  8,766
  9,573
  10,414
  11,288
  12,198
  13,143
  14,126
  15,147
  16,209
  17,312
  18,460
  19,655
  20,898
  22,193
  23,542
EBITDA, $m
  991
  1,284
  1,619
  1,998
  2,420
  2,886
  3,395
  3,946
  4,539
  5,172
  5,845
  6,556
  7,305
  8,092
  8,915
  9,776
  10,673
  11,607
  12,580
  13,591
  14,642
  15,734
  16,870
  18,050
  19,277
  20,553
  21,881
  23,263
  24,703
  26,203
Interest expense (income), $m
  18
  105
  182
  271
  373
  488
  616
  757
  911
  1,078
  1,258
  1,449
  1,653
  1,868
  2,094
  2,332
  2,580
  2,840
  3,111
  3,393
  3,687
  3,992
  4,309
  4,639
  4,981
  5,337
  5,707
  6,092
  6,493
  6,909
  7,343
Earnings before tax, $m
  618
  804
  1,016
  1,254
  1,519
  1,809
  2,126
  2,467
  2,833
  3,223
  3,782
  4,219
  4,677
  5,158
  5,661
  6,186
  6,733
  7,303
  7,895
  8,511
  9,152
  9,817
  10,509
  11,228
  11,975
  12,753
  13,563
  14,406
  15,284
  16,199
Tax expense, $m
  167
  217
  274
  339
  410
  489
  574
  666
  765
  870
  1,021
  1,139
  1,263
  1,393
  1,529
  1,670
  1,818
  1,972
  2,132
  2,298
  2,471
  2,651
  2,837
  3,031
  3,233
  3,443
  3,662
  3,890
  4,127
  4,374
Net income, $m
  451
  587
  742
  916
  1,109
  1,321
  1,552
  1,801
  2,068
  2,353
  2,761
  3,080
  3,414
  3,766
  4,133
  4,516
  4,915
  5,331
  5,764
  6,213
  6,681
  7,166
  7,671
  8,196
  8,742
  9,310
  9,901
  10,516
  11,157
  11,825

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
  9,724
  12,074
  14,761
  17,791
  21,167
  24,888
  28,949
  33,346
  38,071
  43,116
  48,474
  54,138
  60,101
  66,360
  72,912
  79,755
  86,891
  94,322
  102,053
  110,092
  118,448
  127,131
  136,154
  145,532
  155,281
  165,420
  175,967
  186,945
  198,376
  210,285
Adjusted assets (=assets-cash), $m
  9,724
  12,074
  14,761
  17,791
  21,167
  24,888
  28,949
  33,346
  38,071
  43,116
  48,474
  54,138
  60,101
  66,360
  72,912
  79,755
  86,891
  94,322
  102,053
  110,092
  118,448
  127,131
  136,154
  145,532
  155,281
  165,420
  175,967
  186,945
  198,376
  210,285
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
  1,119
  1,390
  1,699
  2,048
  2,437
  2,865
  3,333
  3,839
  4,383
  4,964
  5,581
  6,233
  6,919
  7,640
  8,394
  9,182
  10,004
  10,859
  11,749
  12,675
  13,637
  14,636
  15,675
  16,755
  17,877
  19,044
  20,259
  21,523
  22,839
  24,210
Working capital, $m
  2,454
  3,047
  3,726
  4,490
  5,342
  6,282
  7,307
  8,416
  9,609
  10,882
  12,235
  13,664
  15,169
  16,749
  18,403
  20,130
  21,931
  23,806
  25,758
  27,787
  29,896
  32,087
  34,365
  36,732
  39,192
  41,751
  44,413
  47,184
  50,069
  53,075
Total debt, $m
  3,363
  5,015
  6,904
  9,034
  11,407
  14,023
  16,878
  19,969
  23,290
  26,837
  30,604
  34,585
  38,778
  43,178
  47,784
  52,594
  57,611
  62,835
  68,270
  73,922
  79,796
  85,900
  92,243
  98,836
  105,689
  112,817
  120,232
  127,949
  135,985
  144,357
Total liabilities, $m
  6,836
  8,488
  10,377
  12,507
  14,880
  17,496
  20,351
  23,442
  26,764
  30,310
  34,077
  38,059
  42,251
  46,651
  51,257
  56,068
  61,084
  66,308
  71,743
  77,395
  83,269
  89,373
  95,716
  102,309
  109,163
  116,290
  123,705
  131,422
  139,458
  147,831
Total equity, $m
  2,888
  3,586
  4,384
  5,284
  6,287
  7,392
  8,598
  9,904
  11,307
  12,805
  14,397
  16,079
  17,850
  19,709
  21,655
  23,687
  25,806
  28,014
  30,310
  32,697
  35,179
  37,758
  40,438
  43,223
  46,118
  49,130
  52,262
  55,523
  58,918
  62,455
Total liabilities and equity, $m
  9,724
  12,074
  14,761
  17,791
  21,167
  24,888
  28,949
  33,346
  38,071
  43,115
  48,474
  54,138
  60,101
  66,360
  72,912
  79,755
  86,890
  94,322
  102,053
  110,092
  118,448
  127,131
  136,154
  145,532
  155,281
  165,420
  175,967
  186,945
  198,376
  210,286
Debt-to-equity ratio
  1.160
  1.400
  1.570
  1.710
  1.810
  1.900
  1.960
  2.020
  2.060
  2.100
  2.130
  2.150
  2.170
  2.190
  2.210
  2.220
  2.230
  2.240
  2.250
  2.260
  2.270
  2.280
  2.280
  2.290
  2.290
  2.300
  2.300
  2.300
  2.310
  2.310
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
  451
  587
  742
  916
  1,109
  1,321
  1,552
  1,801
  2,068
  2,353
  2,761
  3,080
  3,414
  3,766
  4,133
  4,516
  4,915
  5,331
  5,764
  6,213
  6,681
  7,166
  7,671
  8,196
  8,742
  9,310
  9,901
  10,516
  11,157
  11,825
Depreciation, amort., depletion, $m
  269
  298
  332
  371
  413
  460
  512
  567
  627
  691
  613
  685
  760
  840
  922
  1,009
  1,099
  1,193
  1,291
  1,393
  1,499
  1,608
  1,723
  1,841
  1,965
  2,093
  2,226
  2,365
  2,510
  2,660
Funds from operations, $m
  720
  885
  1,074
  1,286
  1,522
  1,781
  2,064
  2,369
  2,696
  3,044
  3,374
  3,764
  4,175
  4,605
  5,055
  5,525
  6,015
  6,524
  7,055
  7,606
  8,179
  8,775
  9,394
  10,037
  10,706
  11,403
  12,127
  12,881
  13,667
  14,486
Change in working capital, $m
  511
  593
  678
  765
  852
  939
  1,025
  1,110
  1,193
  1,273
  1,352
  1,430
  1,505
  1,580
  1,654
  1,727
  1,801
  1,876
  1,951
  2,029
  2,109
  2,192
  2,277
  2,367
  2,461
  2,559
  2,662
  2,771
  2,885
  3,006
Cash from operations, $m
  209
  292
  396
  522
  670
  842
  1,038
  1,259
  1,503
  1,771
  2,022
  2,335
  2,670
  3,025
  3,402
  3,798
  4,214
  4,649
  5,103
  5,577
  6,070
  6,583
  7,116
  7,670
  8,246
  8,844
  9,465
  10,110
  10,782
  11,480
Maintenance CAPEX, $m
  -98
  -123
  -153
  -187
  -225
  -268
  -315
  -366
  -422
  -482
  -545
  -613
  -685
  -760
  -840
  -922
  -1,009
  -1,099
  -1,193
  -1,291
  -1,393
  -1,499
  -1,608
  -1,723
  -1,841
  -1,965
  -2,093
  -2,226
  -2,365
  -2,510
New CAPEX, $m
  -230
  -271
  -309
  -349
  -389
  -428
  -468
  -506
  -544
  -581
  -617
  -652
  -687
  -721
  -754
  -788
  -822
  -856
  -890
  -926
  -962
  -1,000
  -1,039
  -1,080
  -1,122
  -1,167
  -1,214
  -1,264
  -1,316
  -1,371
Cash from investing activities, $m
  -328
  -394
  -462
  -536
  -614
  -696
  -783
  -872
  -966
  -1,063
  -1,162
  -1,265
  -1,372
  -1,481
  -1,594
  -1,710
  -1,831
  -1,955
  -2,083
  -2,217
  -2,355
  -2,499
  -2,647
  -2,803
  -2,963
  -3,132
  -3,307
  -3,490
  -3,681
  -3,881
Free cash flow, $m
  -119
  -101
  -66
  -14
  56
  146
  256
  386
  537
  708
  860
  1,070
  1,298
  1,544
  1,808
  2,087
  2,383
  2,694
  3,020
  3,360
  3,715
  4,085
  4,469
  4,868
  5,282
  5,712
  6,158
  6,620
  7,101
  7,599
Issuance/(repayment) of debt, $m
  1,421
  1,652
  1,889
  2,130
  2,373
  2,616
  2,855
  3,091
  3,322
  3,547
  3,767
  3,982
  4,192
  4,400
  4,606
  4,811
  5,016
  5,224
  5,435
  5,651
  5,874
  6,104
  6,343
  6,593
  6,854
  7,127
  7,415
  7,717
  8,036
  8,372
Issuance/(repurchase) of shares, $m
  153
  111
  56
  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  
  1,574
  1,763
  1,945
  2,130
  2,373
  2,616
  2,855
  3,091
  3,322
  3,547
  3,767
  3,982
  4,192
  4,400
  4,606
  4,811
  5,016
  5,224
  5,435
  5,651
  5,874
  6,104
  6,343
  6,593
  6,854
  7,127
  7,415
  7,717
  8,036
  8,372
Total cash flow (excl. dividends), $m
  1,455
  1,662
  1,879
  2,116
  2,430
  2,762
  3,111
  3,477
  3,859
  4,255
  4,626
  5,051
  5,491
  5,944
  6,413
  6,898
  7,399
  7,918
  8,455
  9,012
  9,589
  10,189
  10,812
  11,461
  12,136
  12,839
  13,573
  14,338
  15,137
  15,971
Retained Cash Flow (-), $m
  -604
  -698
  -798
  -900
  -1,003
  -1,105
  -1,206
  -1,306
  -1,403
  -1,498
  -1,591
  -1,682
  -1,771
  -1,859
  -1,946
  -2,032
  -2,119
  -2,207
  -2,296
  -2,388
  -2,482
  -2,579
  -2,680
  -2,785
  -2,896
  -3,011
  -3,133
  -3,260
  -3,395
  -3,537
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
  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 available for distribution, $m
  851
  964
  1,081
  1,216
  1,427
  1,657
  1,905
  2,171
  2,455
  2,757
  3,035
  3,369
  3,719
  4,086
  4,468
  4,866
  5,280
  5,711
  6,159
  6,624
  7,108
  7,610
  8,133
  8,676
  9,240
  9,828
  10,440
  11,077
  11,742
  12,434
Discount rate, %
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
  796
  838
  868
  894
  954
  998
  1,026
  1,035
  1,025
  997
  940
  883
  815
  737
  654
  570
  486
  406
  333
  266
  208
  159
  119
  86
  61
  42
  28
  18
  11
  7
Current shareholders' claim on cash, %
  96.1
  93.9
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0
  93.0

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 15.9
Price to Sales 0.3
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow 11.4
Price to Free Cash Flow 18.3
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 $17045.7 million for the last fiscal year's total revenue generated by SYNNEX. The default revenue input number comes from 0001 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 26.3% 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 6.9%, 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 95.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $236 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%.

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 5.2%.

Life of production assets of 9.1 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 11.4%. 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 - $2283.695 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 39.69 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 $3.7 billion.

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COMPANY NEWS

▶ Heres how much Convergys CEO, other execs will be paid when the company is sold   [Sep-05-18 11:06AM  American City Business Journals]
▶ 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]

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