Fact based stock research
Synnex (Thailand) (SET:SYNEX)

TH0981010000

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Synnex (Thailand) stock research in summary

synnex.co.th

ANALYSIS: With an Obermatt Combined Rank of 64 (better than 64% compared with investment alternatives), Synnex (Thailand) (Technology Distributors, Thailand) shares have above-average financial characteristics compared with similar stocks. Shares of Synnex (Thailand) are low in value (priced high) with a consolidated Value Rank of 49 (worse than 51% of alternatives), and are riskily financed (Safety Rank of 40, which means above-average debt burdens) but show above-average growth (Growth Rank of 83). ...read more

RECOMMENDATION: A Combined Rank of 64, is a buy recommendation based on Synnex (Thailand)'s financial characteristics. As the company Synnex (Thailand) shows low value with an Obermatt Value Rank of 49 (51% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 83% of comparable companies (Obermatt Growth Rank is 83). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 40 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for Synnex (Thailand), even a low-value company (in terms of its key financial indicators) can be a good investment. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	49
Growth Rank	83
Safety Rank	40
Combined Rank	64

Country	Thailand
Industry	Technology Distributors
Index
Size class	Large

This stock has achievements: Gold Winner CEO.

14-Nov-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Why popular stocks have low ratings

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Synnex (Thailand)

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	64	41	75	49
GROWTH
GROWTH	57	75	33	83
SAFETY
SAFETY	37	69	62	40
SENTIMENT
SENTIMENT	n/a	43	36	^new
360° VIEW
360° VIEW	n/a	65	53	^new

Most recent update of the stock research: 14-Nov-2024. Financial reporting date used for calculating ranks: 30-Jun-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Synnex (Thailand) is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	64	41	75	49
GROWTH
GROWTH	57	75	33	83
SAFETY
SAFETY	37	69	62	40
COMBINED
COMBINED	50	75	64	64

Last update of combined financial performance: 14-Nov-2024. Stock analysis on combined financial performance: The higher the rank of Synnex (Thailand) the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 49 (worse than 51% compared with alternatives), Synnex (Thailand) shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, where half the indicators are below and half above average for Synnex (Thailand). Price-to-Sales (P/S) is 75, which means that the stock price compared with what market professionals expect for future sales is lower than for 75% of comparable companies, indicating a good value concerning Synnex (Thailand)'s revenue size. The same is valid for dividend yields with a Dividend Yield rank of 72, which means that dividends are expected to be higher than for 72% of comparable investments. On the other hand, the Price-to-Book Capital ratio (also referred to as market-to-book ratio) is less favorable than for 66% of alternatives (only 34% of peers have an even higher ratio). The same is valid for the Price-to-Profit (or Price / Earnings, P/E) ratio, which is higher than for 55% of comparable companies, making the stock more expensive compared with the company's expected profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 49, is a hold recommendation based on Synnex (Thailand)'s stock price compared with the company's operational size and dividend yields. This is a somewhat surprising picture, because it means that profits are low while dividends are high. One interpretation could be that profits are expected to increase, justifying the high dividend payments. But it could also mean that the company desperately keeps the high dividends to avoid a collapsing share price. This would be a rather dangerous constellation. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	84	58	77	75
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	45	23	55	45
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	14	13	51	34
DIVIDEND YIELD
DIVIDEND YIELD	78	82	90	72
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	64	41	75	49

Last update of Value Rank: 14-Nov-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Synnex (Thailand); except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 83 (better than 83% compared with alternatives) for 2024, Synnex (Thailand) shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Synnex (Thailand). Sales Growth has a rank of 81 which means that currently, professionals expect the company to grow more than 81% of its competitors. Both Profit Growth, with a rank of 73, and Stock Returns, with a rank of 89, are also above average. But Capital Growth only has a rank of 15, which means that, currently, professionals expect the company to grow its invested capital less than 85% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 83, is a buy recommendation for growth and momentum investors. That may be a good sign if the company is already well positioned and doesn't require more investments at this time. They may focus on growing the top (revenues) and bottom (profits) lines, recently rewarded with above-average stock returns for shareholders. But it may also be a sign of danger as the company is falling back with capital investment activities concerning competition. This requires further analysis of corporate communications. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	24	34	46	81
PROFIT GROWTH
PROFIT GROWTH	40	51	21	73
CAPITAL GROWTH
CAPITAL GROWTH	n/a	51	94	15
STOCK RETURNS
STOCK RETURNS	92	100	9	89
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	57	75	33	83

Last update of Growth Rank: 14-Nov-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Synnex (Thailand).

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 40 (better than 40% compared with alternatives), the company Synnex (Thailand) has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Synnex (Thailand) is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above-average for Synnex (Thailand). Refinancing is at 61, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 61% of its competitors. Liquidity is also good at 58, meaning the company generates more profit to service its debt than 58% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 19, which means the company has an above-average debt-to-equity ratio. It has more debt than 81% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 40 (worse than 60% compared with alternatives), Synnex (Thailand) has a financing structure that is riskier than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and Synnex (Thailand) could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a debt challenge with Synnex (Thailand) and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	33	66	24	19
REFINANCING
REFINANCING	67	51	77	61
LIQUIDITY
LIQUIDITY	26	78	78	58
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	37	69	62	40

Last update of Safety Rank: 14-Nov-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Synnex (Thailand) and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	16	77	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	45	27	^new
MARKET PULSE
MARKET PULSE	n/a	77	17	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	43	36	^new

Last update of Sentiment Rank: 14-Nov-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Synnex (Thailand).
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