Revenue Analysis
Total and Operating Revenue: SNX has shown a consistent increase in total and operating revenue over the last three years, moving from approximately $13.961 billion on 2023-02-28 to about $13.975 billion by 2024-02-29. The operating revenue remaining consistent confirms steady business operations.
Gross Profit Margin: The Gross Profit has seen a slight fluctuation, peaking in 2023-05-31 at approximately $963 million, then adjusting to around $1.006 billion by 2024-02-29. This represents a slight improvement in the profit margin relative to revenue over the period.
Cost Management
Cost of Revenue: There has been a variable increase in the cost of revenue, reflecting changes possibly in the cost of goods sold or service delivery expenses, as seen from $12.94 billion in 2023-08-31 to about $12.97 billion by 2024-02-29.
Operating Expense: SNX’s operating expenses have grown from $654 million on 2023-02-28 to $671 million by 2023-11-30, which then adjusted slightly. This shows control in operating expenditures considering the increase in revenue.
Total Expenses: Overall, the total expenses have shown a rise from about $13.774 billion in 2023-02-28 to approximately $13.641 billion in 2024-02-29, indicating better expense management over time.
Profitability Analysis
EBITDA: Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) has displayed some variance but significant recovery, from $353.673 million in 2023-05-31 to $431.956 million by 2024-02-29.
Operating Income: The operating income presents improvement, from $289.712 million in 2023-05-31 to $334.221 million on 2024-02-29.
Pretax Income & Net Income: There has been a consistent enhancement in pretax and net income. Pretax income stood at roughly $174 million on 2023-05-31 and improved to about $224 million by 2024-02-29, with net income showing parallel growth.
Cash Flow Indicators
Reconciled Depreciation: Depreciation figures have been stable, suggesting sustained capital investment: about $104.9 million on 2023-05-31 to approximately $100.6 million by 2024-02-29.
Interest Expense: Interest expenses have been well managed, moving from $74.285 million in 2023-05-31 to about $75.891 million as of 2024-02-29.
Taxation
Tax Rate: The tax rate has experienced slight fluctuations but remains within a tight range of 17.4% to 23.7% over the analyzed period.
Tax Provision: Tax provisions increased correspondingly with pretax income, from about $41.347 million in 2023-05-31 to $51.669 million by 2024-02-29.
Tax Effect of Unusual Items: Negative values indicate tax relief from unusual expenses, which somewhat fluctuates but does not reflect any unusual financial maneuvers.
Shareholder Metrics
Diluted and Basic EPS: Earnings Per Share (EPS) has seen marginal growth, which is good for shareholders. Diluted EPS was recorded at 1.41 in 2023-05-31 and adjusted to 1.93 by 2024-02-29.
Average Shares: The number of average shares diluted saw a trend towards a decrease from about 93.6 million shares in 2023-05-31 to approximately 88.2 million by 2024-02-29, potentially indicating share buybacks or similar activities.
Net Income Available to Common Stockholders: This has improved slightly, indicating beneficial returns for shareholders over the period.
Conclusion
The financial trajectory of SNX shows a company that is effectively managing its revenue growth and cost, with improved profitability indicators and effective tax and financial strategies.