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How TD Synnex (SNX) makes money

TD Synnex (SNX) made $21.6B of revenue in the third quarter fiscal 2026 (Q3 FY26), +38% from a year earlier. Americas distribution brought in $10.3B (48%); Europe distribution brought in $6.4B (30%); Hyve Solutions brought in $3.8B (18%). Of every dollar of revenue, 7¢ was left as gross profit, 3¢ was left as operating profit, 2¢ was left as net earnings.

Drawing the Sankey…

TD Synnex revenue by segment, Q3 FY26TD Synnex revenue by segment, Q3 FY26Americas distribution$10.3BEurope distribution$6.4BHyve Solutions$3.8BAPJ distribution$1.1B
TD Synnex: revenue by line, Q1 FY26 to Q3 FY26TD Synnex: revenue by line, Q1 FY26 to Q3 FY26Americas distributionEurope distributionHyve SolutionsAPJ distributionAmericas distribution: $10.3B latest$10.3BEurope distribution: $6.4B latest$6.4BHyve Solutions: $3.8B latest$3.8BAPJ distribution: $1.1B latestQ1 FY26Q2 FY26Q3 FY26
Europe distribution went from 36% of revenue in Q1 FY26 to 30% in Q3 FY26, the largest shift in the mix.
TD Synnex revenue by quarterTD Synnex revenue by quarter$15.8BQ4 FY24$14.9BQ2 FY25$15.7BQ3 FY25$17.4BQ4 FY25$17.2BQ1 FY26$19.6BQ2 FY26$21.6BQ3 FY26
TD Synnex: where each dollar of revenue goesTD Synnex: where each dollar of revenue goesCost of revenue93¢Gross profit7¢Operating expenses4¢Operating profit3¢Income tax1¢Net earnings2¢

Revenue by segment, Q3 FY26

SegmentRevenueShareQ/QY/Y
Americas distribution$10.3B47.9%+8%+40%
Europe distribution$6.4B29.5%+5%+30%
Hyve Solutions$3.8B17.6%+28%+52%
APJ distribution$1.1B5.0%+5%+22%

Where each dollar of revenue goes

LineQ3 FY26% of revenue
Revenue$21.6B100.0%
Cost of revenue$20.1B93.4%
Gross profit$1.4B6.6%
Operating expenses$783M3.6%
Operating profit$643M3.0%
Income tax$139M0.6%
Net earnings$416M1.9%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 FY26$21.6B+38%
Q2 FY26$19.6B+31%
Q1 FY26$17.2B+18%
Q4 FY25$17.4B+10%
Q3 FY25$15.7B+7%
Q2 FY25$14.9B+7%
Q4 FY24$15.8B+10%

From TD Synnex's 10-Q filed Oct 1, 2026 (on EDGAR).

Questions

How does TD Synnex make money?

TD Synnex (SNX) made $21.6B of revenue in the third quarter fiscal 2026 (Q3 FY26), +38% from a year earlier. Americas distribution brought in $10.3B (48%); Europe distribution brought in $6.4B (30%); Hyve Solutions brought in $3.8B (18%). Of every dollar of revenue, 7¢ was left as gross profit, 3¢ was left as operating profit, 2¢ was left as net earnings.

What is TD Synnex's biggest business?

Americas distribution: $10.3B in the third quarter fiscal 2026, 48% of revenue, +40% from a year earlier.

What is TD Synnex's profit margin?

Net earnings were $416M, 1.9% of revenue, in the third quarter fiscal 2026; the operating margin was 3.0%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.