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

TH0981010000

How to read the ranks

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 39 (worse than 61% compared with investment alternatives), Synnex (Thailand) (Technology Distributors, Thailand) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Synnex (Thailand) are a good value (attractively priced) with a consolidated Value Rank of 61 (better than 61% of alternatives) but show below-average growth (Growth Rank of 35), and are riskily financed (Safety Rank of 48), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 39, is a hold recommendation based on Synnex (Thailand)'s financial characteristics. As the company Synnex (Thailand)'s key financial metrics exhibit good value (Obermatt Value Rank of 61) but low growth (Obermatt Growth Rank of 35) and risky financing practices (Obermatt Safety Rank of 48), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 61% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. 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	61
Growth Rank	35
Safety Rank	48
Combined Rank	39

Country	Thailand
Industry	Technology Distributors
Index
Size class	Large

This stock has achievements: Gold Winner CEO.

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

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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	61
GROWTH
GROWTH	57	75	33	35
SAFETY
SAFETY	37	69	62	48
SENTIMENT
SENTIMENT	n/a	43	36	^new
360° VIEW
360° VIEW	n/a	65	53	^new

Most recent update of the stock research: 25-Apr-2024. Financial reporting date used for calculating ranks: 31-Dec-2023. 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	61
GROWTH
GROWTH	57	75	33	35
SAFETY
SAFETY	37	69	62	48
COMBINED
COMBINED	50	75	64	39

Last update of combined financial performance: 25-Apr-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 61 (better than 61% compared with alternatives), Synnex (Thailand) shares are more attractively priced than the majority of comparable stocks. 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 78, which means that the stock price compared with what market professionals expect for future sales is lower than for 78% 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 76, which means that dividends are expected to be higher than for 76% 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 52% of alternatives (only 48% 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 51% 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 61, is a buy 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	78
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	45	23	55	49
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	14	13	51	48
DIVIDEND YIELD
DIVIDEND YIELD	78	82	90	76
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	64	41	75	61

Last update of Value Rank: 25-Apr-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 35 (better than 35% compared with alternatives), Synnex (Thailand) shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four metrics below average for Synnex (Thailand). While Profit Growth has a good rank of 75, as professionals currently expect the company to grow its profits more than 75% of its competitors, all other growth indicators are below market averages. Sales Growth has a rank of 23, which means that currently professionals expect the company to grow less than 77% of its competitors, while Capital Growth has a rank of 21 and Stock Returns have been below market median, with a rank of 45 (55% of alternative investments were better). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 35, is a hold recommendation for growth and momentum investors. While revenue growth and capital growth are good growth momentum indicators, profit is less reliable, because profits may increase due to cost-cutting measures which typically indicate negative growth momentum. "You can save a dollar only once" is the saying about such situations. Growth Investors should look at company priorities closely if they are interested in growth, because the increase in profits is not usually an indicator of growth, and stock prices have been below market, too. 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, especially since the growth performance is limited here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	24	34	46	23
PROFIT GROWTH
PROFIT GROWTH	40	51	21	75
CAPITAL GROWTH
CAPITAL GROWTH	n/a	51	94	21
STOCK RETURNS
STOCK RETURNS	92	100	9	45
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	57	75	33	35

Last update of Growth Rank: 25-Apr-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 48 (better than 48% 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 71, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 71% of its competitors. Liquidity is also good at 55, meaning the company generates more profit to service its debt than 55% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 20, which means the company has an above-average debt-to-equity ratio. It has more debt than 80% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 48 (worse than 52% 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	20
REFINANCING
REFINANCING	67	51	77	71
LIQUIDITY
LIQUIDITY	26	78	78	55
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	37	69	62	48

Last update of Safety Rank: 25-Apr-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: 25-Apr-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Synnex (Thailand).
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