Synnex Technology International (TWSE:2347) 2023 full year results

Main financial results

  • Revenue: NT$396 billion (down 6.7% from FY2022).
  • Net profit: NT$7.29 billion (down 54% from FY2022).
  • Profit margin: 1.8% (down from 3.7% in FY2022). The decrease in margin was due to a decrease in revenue.
  • EPS: NT$4.37 (down from NT$9.44 in FY2022).
TWSE:2347 Breakdown of Revenue and Expenses March 18, 2024

All numbers shown in the chart above are for the trailing 12 month (TTM) period.

Synnex Technology's international revenue exceeded expectations

Sales exceeded analysts' expectations by 1.5%. Earnings per share (EPS) were roughly in line with analyst forecasts.

The main revenue driver for the past 12 months was the Distribution Business Group segment, which contributed total revenue of NT$275.4 billion (70% of total revenue). In particular, the cost of goods sold, worth NT$378.4 billion, accounted for 96% of total revenue, highlighting the impact on revenue. The largest operating expense was sales and marketing expenses, amounting to NT$7.28 billion (71% of total expenses). Find out how 2347's income and expenses form its bottom line.

Looking ahead, revenue is expected to increase by an average of 6.0% per year over the next two years, compared to a growth forecast of 11% for Taiwan's electronics industry.

performance of Taiwan's electronic industry.

The company's stock price rose 6.4% from the previous week.

risk analysis

For example, Synnex Technology International needs to be aware of risks. 3 warning signs (And the one that makes me feel a little uncomfortable) I think you should know about.

Valuation is complex, but we help make it simple.

Check out our comprehensive analysis, including below, to see if Synnex Technology International is potentially overvalued or undervalued. Fair value estimates, risks and caveats, dividends, insider trading, and financial health.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodologies, and articles are not intended to be financial advice. This is not a recommendation to buy or sell any stock, and does not take into account your objectives or financial situation. We aim to provide long-term, focused analysis based on fundamental data. Note that our analysis may not factor in the latest announcements or qualitative material from price-sensitive companies. Simply Wall St has no position in any stocks mentioned.

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