Filing Flows › TD Synnex (SNX) › Q2 FY26 › vs Q2 FY25
TD Synnex (SNX) Q2 FY26 vs Q2 FY25 (year over year)
TD Synnex's revenue rose $4.6B (+31%) from $14.9B in Q2 FY25 to $19.6B in Q2 FY26. The biggest changes: Americas distribution +$2.1B (+27%); Europe distribution +$1.4B (+29%); Hyve Solutions +$976M (+49%). Gross margin 6.8% against 7.0% (-0.2 pts).
TD Synnex, Q2 FY26: revenue $19.6B (+31% year over year), operating margin 2.7%, net earnings $334M, operating cash flow −$266M. The chart draws each line against Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Gross margin | 6.8% | 7.0% | -0.2 pts |
| Operating margin | 2.7% | 2.2% | +0.5 pts |
| Net margin | 1.7% | 1.2% | +0.5 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Americas distribution | $9.5B | $7.5B | $2.1B | +27% |
| Europe distribution | $6.0B | $4.7B | $1.4B | +29% |
| Hyve Solutions | $3.0B | $2.0B | $976M | +49% |
| APJ distribution | $1.0B | $794M | $226M | +29% |
| Revenue | $19.6B | $14.9B | $4.6B | +31% |
| Gross profit | $1.3B | $1.0B | $293M | +28% |
| Cost of revenue | $18.2B | $13.9B | $4.3B | +31% |
| Operating profit | $519M | $328M | $191M | +58% |
| Operating expenses | $820M | $718M | $102M | +14% |
| Pre-tax earnings | $430M | $238M | $192M | +81% |
| Other expense, net | $89.4M | $90.1M | −$632K | -0.7% |
| Net earnings | $334M | $185M | $149M | +81% |
| Income tax | $95.8M | $53.2M | $42.7M | +80% |
| Operating cash sources | $723M | −$273M | $996M | — |
| Depreciation & amortization | $105M | $104M | $1.7M | +2% |
| Share-based compensation | $17.9M | $11.9M | $5.9M | +50% |
| Cash used in operations | $266M | −$573M | $839M | — |
| Working capital & other | $723M | −$273M | $996M | — |
Questions
How much did TD Synnex's revenue grow year over year in Q2 FY26?
TD Synnex's revenue rose $4.6B (+31%) from $14.9B in Q2 FY25 to $19.6B in Q2 FY26.
What drove TD Synnex's revenue change in Q2 FY26?
Americas distribution +$2.1B (+27%); Europe distribution +$1.4B (+29%); Hyve Solutions +$976M (+49%).