Intrinsic value of Tech Data - TECD

Previous Close

$73.72

  Intrinsic Value

$382.65

stock screener

  Rating & Target

str. buy

+419%

Previous close

$73.72

 
Intrinsic value

$382.65

 
Up/down potential

+419%

 
Rating

str. buy

We calculate the intrinsic value of TECD 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 2.8

 

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, %
  21.70
  20.03
  18.53
  17.17
  15.96
  14.86
  13.88
  12.99
  12.19
  11.47
  10.82
  10.24
  9.72
  9.24
  8.82
  8.44
  8.09
  7.79
  7.51
  7.26
  7.03
  6.83
  6.64
  6.48
  6.33
  6.20
  6.08
  5.97
  5.87
  5.79
Revenue, $m
  44,755
  53,720
  63,672
  74,608
  86,513
  99,369
  113,157
  127,853
  143,437
  159,889
  177,194
  195,340
  214,320
  234,134
  254,785
  276,285
  298,649
  321,899
  346,063
  371,173
  397,267
  424,390
  452,589
  481,917
  512,433
  544,198
  577,280
  611,750
  647,684
  685,163
Variable operating expenses, $m
  44,218
  53,034
  62,822
  73,575
  85,283
  97,926
  111,485
  125,938
  141,263
  157,442
  174,254
  192,099
  210,764
  230,249
  250,558
  271,701
  293,694
  316,559
  340,321
  365,015
  390,677
  417,349
  445,080
  473,922
  503,931
  535,169
  567,702
  601,600
  636,938
  673,795
Fixed operating expenses, $m
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
Total operating expenses, $m
  44,220
  53,036
  62,824
  73,577
  85,285
  97,928
  111,487
  125,940
  141,265
  157,444
  174,257
  192,102
  210,767
  230,252
  250,561
  271,704
  293,697
  316,562
  340,324
  365,018
  390,680
  417,352
  445,083
  473,925
  503,934
  535,173
  567,706
  601,604
  636,942
  673,799
Operating income, $m
  535
  684
  849
  1,030
  1,227
  1,441
  1,669
  1,913
  2,172
  2,445
  2,937
  3,238
  3,553
  3,882
  4,224
  4,581
  4,952
  5,338
  5,738
  6,155
  6,588
  7,038
  7,505
  7,992
  8,498
  9,025
  9,574
  10,146
  10,742
  11,363
EBITDA, $m
  844
  1,013
  1,201
  1,408
  1,633
  1,876
  2,136
  2,414
  2,708
  3,019
  3,346
  3,689
  4,048
  4,422
  4,812
  5,218
  5,641
  6,080
  6,537
  7,011
  7,505
  8,017
  8,550
  9,104
  9,681
  10,281
  10,906
  11,557
  12,236
  12,945
Interest expense (income), $m
  -22
  123
  286
  469
  672
  895
  1,138
  1,400
  1,681
  1,981
  2,299
  2,634
  2,987
  3,357
  3,744
  4,149
  4,570
  5,008
  5,464
  5,939
  6,432
  6,944
  7,476
  8,029
  8,604
  9,203
  9,825
  10,473
  11,148
  11,851
  12,584
Earnings before tax, $m
  412
  398
  380
  358
  333
  303
  270
  232
  191
  146
  303
  251
  196
  137
  76
  11
  -56
  -127
  -200
  -277
  -356
  -438
  -524
  -612
  -705
  -800
  -899
  -1,002
  -1,109
  -1,220
Tax expense, $m
  111
  107
  103
  97
  90
  82
  73
  63
  52
  39
  82
  68
  53
  37
  20
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  301
  290
  277
  262
  243
  221
  197
  169
  139
  107
  221
  183
  143
  100
  55
  8
  -56
  -127
  -200
  -277
  -356
  -438
  -524
  -612
  -705
  -800
  -899
  -1,002
  -1,109
  -1,220

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
  15,726
  18,875
  22,373
  26,215
  30,398
  34,915
  39,760
  44,924
  50,400
  56,180
  62,261
  68,637
  75,306
  82,268
  89,524
  97,078
  104,936
  113,106
  121,596
  130,419
  139,588
  149,118
  159,026
  169,331
  180,054
  191,215
  202,839
  214,951
  227,577
  240,746
Adjusted assets (=assets-cash), $m
  15,726
  18,875
  22,373
  26,215
  30,398
  34,915
  39,760
  44,924
  50,400
  56,180
  62,261
  68,637
  75,306
  82,268
  89,524
  97,078
  104,936
  113,106
  121,596
  130,419
  139,588
  149,118
  159,026
  169,331
  180,054
  191,215
  202,839
  214,951
  227,577
  240,746
Revenue / Adjusted assets
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
  2.846
Average production assets, $m
  940
  1,128
  1,337
  1,567
  1,817
  2,087
  2,376
  2,685
  3,012
  3,358
  3,721
  4,102
  4,501
  4,917
  5,350
  5,802
  6,272
  6,760
  7,267
  7,795
  8,343
  8,912
  9,504
  10,120
  10,761
  11,428
  12,123
  12,847
  13,601
  14,388
Working capital, $m
  1,566
  1,880
  2,229
  2,611
  3,028
  3,478
  3,960
  4,475
  5,020
  5,596
  6,202
  6,837
  7,501
  8,195
  8,917
  9,670
  10,453
  11,266
  12,112
  12,991
  13,904
  14,854
  15,841
  16,867
  17,935
  19,047
  20,205
  21,411
  22,669
  23,981
Total debt, $m
  3,811
  6,249
  8,955
  11,929
  15,167
  18,664
  22,413
  26,410
  30,648
  35,123
  39,829
  44,764
  49,926
  55,314
  60,931
  66,778
  72,860
  79,183
  85,754
  92,583
  99,680
  107,056
  114,725
  122,702
  131,001
  139,639
  148,636
  158,011
  167,784
  177,976
Total liabilities, $m
  12,172
  14,610
  17,316
  20,290
  23,528
  27,025
  30,774
  34,771
  39,009
  43,484
  48,190
  53,125
  58,287
  63,675
  69,292
  75,139
  81,221
  87,544
  94,115
  100,944
  108,041
  115,417
  123,086
  131,063
  139,362
  148,000
  156,997
  166,372
  176,144
  186,337
Total equity, $m
  3,554
  4,266
  5,056
  5,925
  6,870
  7,891
  8,986
  10,153
  11,390
  12,697
  14,071
  15,512
  17,019
  18,592
  20,232
  21,940
  23,716
  25,562
  27,481
  29,475
  31,547
  33,701
  35,940
  38,269
  40,692
  43,215
  45,842
  48,579
  51,432
  54,409
Total liabilities and equity, $m
  15,726
  18,876
  22,372
  26,215
  30,398
  34,916
  39,760
  44,924
  50,399
  56,181
  62,261
  68,637
  75,306
  82,267
  89,524
  97,079
  104,937
  113,106
  121,596
  130,419
  139,588
  149,118
  159,026
  169,332
  180,054
  191,215
  202,839
  214,951
  227,576
  240,746
Debt-to-equity ratio
  1.070
  1.460
  1.770
  2.010
  2.210
  2.370
  2.490
  2.600
  2.690
  2.770
  2.830
  2.890
  2.930
  2.980
  3.010
  3.040
  3.070
  3.100
  3.120
  3.140
  3.160
  3.180
  3.190
  3.210
  3.220
  3.230
  3.240
  3.250
  3.260
  3.270
Adjusted equity ratio
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226
  0.226

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  301
  290
  277
  262
  243
  221
  197
  169
  139
  107
  221
  183
  143
  100
  55
  8
  -56
  -127
  -200
  -277
  -356
  -438
  -524
  -612
  -705
  -800
  -899
  -1,002
  -1,109
  -1,220
Depreciation, amort., depletion, $m
  309
  330
  353
  378
  405
  435
  467
  501
  537
  575
  409
  451
  495
  540
  588
  638
  689
  743
  799
  857
  917
  979
  1,044
  1,112
  1,183
  1,256
  1,332
  1,412
  1,495
  1,581
Funds from operations, $m
  610
  620
  630
  639
  648
  656
  664
  670
  676
  681
  630
  634
  637
  641
  643
  646
  633
  616
  598
  580
  561
  541
  521
  500
  478
  456
  433
  410
  386
  361
Change in working capital, $m
  279
  314
  348
  383
  417
  450
  483
  514
  545
  576
  606
  635
  664
  693
  723
  752
  783
  814
  846
  879
  913
  949
  987
  1,026
  1,068
  1,112
  1,158
  1,206
  1,258
  1,312
Cash from operations, $m
  330
  306
  282
  257
  231
  206
  181
  156
  131
  105
  24
  -1
  -27
  -53
  -80
  -107
  -150
  -198
  -247
  -299
  -353
  -408
  -466
  -527
  -590
  -656
  -725
  -797
  -872
  -951
Maintenance CAPEX, $m
  -85
  -103
  -124
  -147
  -172
  -200
  -229
  -261
  -295
  -331
  -369
  -409
  -451
  -495
  -540
  -588
  -638
  -689
  -743
  -799
  -857
  -917
  -979
  -1,044
  -1,112
  -1,183
  -1,256
  -1,332
  -1,412
  -1,495
New CAPEX, $m
  -167
  -188
  -209
  -230
  -250
  -270
  -290
  -309
  -327
  -345
  -363
  -381
  -399
  -416
  -434
  -451
  -470
  -488
  -507
  -527
  -548
  -570
  -592
  -616
  -641
  -667
  -695
  -724
  -755
  -787
Cash from investing activities, $m
  -252
  -291
  -333
  -377
  -422
  -470
  -519
  -570
  -622
  -676
  -732
  -790
  -850
  -911
  -974
  -1,039
  -1,108
  -1,177
  -1,250
  -1,326
  -1,405
  -1,487
  -1,571
  -1,660
  -1,753
  -1,850
  -1,951
  -2,056
  -2,167
  -2,282
Free cash flow, $m
  79
  15
  -51
  -120
  -191
  -263
  -338
  -414
  -492
  -571
  -708
  -791
  -876
  -964
  -1,054
  -1,146
  -1,257
  -1,375
  -1,498
  -1,625
  -1,757
  -1,895
  -2,038
  -2,187
  -2,343
  -2,506
  -2,675
  -2,853
  -3,039
  -3,233
Issuance/(repayment) of debt, $m
  2,173
  2,438
  2,707
  2,974
  3,238
  3,497
  3,750
  3,997
  4,238
  4,474
  4,706
  4,935
  5,162
  5,389
  5,616
  5,847
  6,082
  6,323
  6,572
  6,829
  7,097
  7,376
  7,669
  7,976
  8,299
  8,639
  8,997
  9,374
  9,773
  10,193
Issuance/(repurchase) of shares, $m
  332
  422
  513
  607
  702
  800
  898
  998
  1,098
  1,200
  1,153
  1,258
  1,364
  1,473
  1,585
  1,699
  1,832
  1,973
  2,119
  2,271
  2,428
  2,592
  2,763
  2,941
  3,128
  3,322
  3,526
  3,739
  3,963
  4,197
Cash from financing (excl. dividends), $m  
  2,505
  2,860
  3,220
  3,581
  3,940
  4,297
  4,648
  4,995
  5,336
  5,674
  5,859
  6,193
  6,526
  6,862
  7,201
  7,546
  7,914
  8,296
  8,691
  9,100
  9,525
  9,968
  10,432
  10,917
  11,427
  11,961
  12,523
  13,113
  13,736
  14,390
Total cash flow (excl. dividends), $m
  2,583
  2,874
  3,168
  3,461
  3,749
  4,033
  4,310
  4,580
  4,845
  5,103
  5,151
  5,402
  5,650
  5,898
  6,148
  6,400
  6,657
  6,921
  7,193
  7,475
  7,768
  8,074
  8,394
  8,730
  9,084
  9,456
  9,848
  10,261
  10,697
  11,157
Retained Cash Flow (-), $m
  -633
  -712
  -790
  -868
  -945
  -1,021
  -1,095
  -1,167
  -1,238
  -1,306
  -1,374
  -1,441
  -1,507
  -1,573
  -1,640
  -1,707
  -1,832
  -1,973
  -2,119
  -2,271
  -2,428
  -2,592
  -2,763
  -2,941
  -3,128
  -3,322
  -3,526
  -3,739
  -3,963
  -4,197
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
  1,951
  2,162
  2,378
  2,592
  2,804
  3,012
  3,215
  3,413
  3,607
  3,797
  3,777
  3,961
  4,143
  4,325
  4,508
  4,693
  4,825
  4,948
  5,074
  5,204
  5,340
  5,482
  5,631
  5,789
  5,956
  6,133
  6,322
  6,522
  6,734
  6,960
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  1,870
  1,979
  2,069
  2,135
  2,174
  2,186
  2,172
  2,133
  2,072
  1,990
  1,794
  1,690
  1,575
  1,452
  1,323
  1,193
  1,050
  911
  781
  661
  552
  455
  369
  295
  232
  179
  136
  101
  74
  52
Current shareholders' claim on cash, %
  89.5
  79.7
  70.9
  63.1
  56.2
  50.1
  44.9
  40.2
  36.2
  32.6
  29.8
  27.3
  25.0
  23.0
  21.1
  19.4
  17.9
  16.5
  15.2
  14.0
  12.9
  11.9
  10.9
  10.1
  9.3
  8.6
  7.9
  7.3
  6.7
  6.2

Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services. It operates in two geographic segments: the Americas and Europe. It provides resellers training and technical support suite of electronic commerce tools customized shipping documents product configuration or integration services and access to financing programs. Its customers include value-added resellers, direct marketers, retailers and corporate resellers who support the diverse technology needs of end users. It sells its products to customers in approximately 100 countries throughout North America, South America, Europe, the Middle East and Africa.

FINANCIAL RATIOS  of  Tech Data (TECD)

Valuation Ratios
P/E Ratio 13.3
Price to Sales 0.1
Price to Book 1.2
Price to Tangible Book
Price to Cash Flow 4
Price to Free Cash Flow 4.2
Growth Rates
Sales Growth Rate -0.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 14.7%
Cap. Spend. - 3 Yr. Gr. Rate 5.4%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 45.6%
Total Debt to Equity 62.8%
Interest Coverage -11
Management Effectiveness
Return On Assets 2.5%
Ret/ On Assets - 3 Yr. Avg. 3%
Return On Total Capital 6.6%
Ret/ On T. Cap. - 3 Yr. Avg. 8.4%
Return On Equity 9.3%
Return On Equity - 3 Yr. Avg. 10.5%
Asset Turnover 3.7
Profitability Ratios
Gross Margin 5%
Gross Margin - 3 Yr. Avg. 5%
EBITDA Margin 0.9%
EBITDA Margin - 3 Yr. Avg. 1%
Operating Margin 1.1%
Oper. Margin - 3 Yr. Avg. 1.2%
Pre-Tax Margin 1%
Pre-Tax Margin - 3 Yr. Avg. 1.1%
Net Profit Margin 0.7%
Net Profit Margin - 3 Yr. Avg. 0.8%
Effective Tax Rate 24.1%
Eff/ Tax Rate - 3 Yr. Avg. 27.1%
Payout Ratio 0%

TECD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TECD stock intrinsic value calculation we used $36775.011 million for the last fiscal year's total revenue generated by Tech Data. The default revenue input number comes from 0001 income statement of Tech Data. 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 TECD stock valuation model: a) initial revenue growth rate of 21.7% 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 4.3%, whose default value for TECD is calculated based on our internal credit rating of Tech Data, 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 Tech Data.
    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 TECD stock the variable cost ratio is equal to 98.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2 million in the base year in the intrinsic value calculation for TECD 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 7.5% for Tech Data.

Corporate tax rate of 27% is the nominal tax rate for Tech Data. 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 TECD 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 TECD are equal to 2.1%.

Life of production assets of 9.1 years is the average useful life of capital assets used in Tech Data 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 TECD is equal to 3.5%. 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 - $2921.492 million for Tech Data - 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 38.322 million for Tech Data 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 Tech Data at the current share price and the inputted number of shares is $2.8 billion.

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COMPANY NEWS

▶ Meet John Tonnison, a 2018 CIO of the Year honoree   [Sep-05-18 03:11PM  American City Business Journals]
▶ CEO: Some workers will lose jobs as Tech Data focuses on efficiency   [Aug-30-18 08:24PM  American City Business Journals]
▶ Tech Data: Fiscal 2Q Earnings Snapshot   [07:06AM  Associated Press]
▶ Tech Data plans cost efficiencies as quarterly sales, income jump   [06:56AM  American City Business Journals]
▶ Where Tech Datas CEO sees growth ahead   [07:22AM  American City Business Journals]
▶ Tech Data Wins 2018 Global Distributor Titan Award   [Jul-24-18 08:00AM  PR Newswire]
▶ Meet the 2018 Heroes at Work honorees: Kelly Pigott   [Jul-20-18 05:30AM  American City Business Journals]
▶ Tampa Bay tech community pulls together to help displaced CareSync workers   [Jun-27-18 02:03PM  American City Business Journals]
▶ Tech Data recognizes inclusion as a core value   [05:00AM  American City Business Journals]
▶ June Undervalued Stock Opportunities   [Jun-09-18 10:02AM  Simply Wall St.]
▶ Heres what Floridas largest company will pay its new CEO   [10:28AM  American City Business Journals]
▶ Tech Data cheers its outgoing CEO   [Jun-06-18 04:55PM  American City Business Journals]
▶ What Tech Datas Q1 sales say about the economy and the future of tech in the workplace   [May-31-18 02:59PM  American City Business Journals]
▶ Demand drives gains in sales, profits at Tech Data   [07:08AM  American City Business Journals]
▶ Tech Data: Fiscal 1Q Earnings Snapshot   [06:11AM  Associated Press]
▶ Tech Datas big deal put cash in the CEOs paycheck   [Apr-27-18 11:33AM  American City Business Journals]
▶ Tech Datas new CEO will pivot toward new areas of growth, analyst says   [Apr-20-18 07:20AM  American City Business Journals]
▶ Heres the story behind the CEO change at Tech Data   [Apr-19-18 02:52PM  American City Business Journals]
▶ Tech Data names new CEO   [07:19AM  American City Business Journals]
▶ Tech Data Announces Leadership Succession   [06:00AM  PR Newswire]
▶ Local connection brings Xbox co-founder Otto Berkes to Tampa Bay tech festival   [Apr-18-18 02:41PM  American City Business Journals]
▶ Three Stocks Trading At A Massive Discount   [Mar-13-18 10:02AM  Simply Wall St.]
▶ Tech Data Corporation to Host Earnings Call   [Mar-08-18 07:30AM  ACCESSWIRE]
▶ Tech Data misses 4Q profit forecasts   [06:27AM  Associated Press]
▶ St. Pete EDC taps local attorney as its new chair   [Feb-23-18 03:05PM  American City Business Journals]
▶ Scott Black's Top 5 New Buys of the 4th Quarter   [Feb-05-18 12:50PM  GuruFocus.com]
▶ See where these 5 Tampa Bay companies rank in Fortunes most admired list   [Jan-19-18 11:20AM  American City Business Journals]

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