SYNEX (THAILAND) Plc. (SYNEX): Earnings Miss On Six-Year Low GPM
SYNEX reported 4Q25 core profit of Bt161mn (+39% YoY, -10% QoQ), 19% below our and market estimates due to the lowest GPM in six years.
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SYNNEX (THAILAND) Plc. (SYNEX): 4Q25E Profit To Reach An All-Time High
We expect SYNEX’s 4Q25E profit at Bt199mn (+72% YoY, +12% QoQ), marking a new record high, supported by iPhone 17 sales.
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SYNNEX (THAILAND) Plc. (SYNEX): Profit In Line With Our Estimate But 10% Below Concensus
SYNEX posted 3Q25 revenue of Bt12.1bn (+13% YoY, +4% QoQ). 9M25 core profit reached 82% of our full-year Bt603mn forecast (+18% YoY).
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SYNNEX (THAILAND) Plc. (SYNEX): 3Q25 Profit Rises Despite A Five-Year Low P/E
SYNEX’s 3Q25 core profit is expected at Bt174mn (+22% YoY, +5% QoQ), supported by record-high revenue from full-quarter NSW2 sales.
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Commerce IT: Compelling Opportunity for the Sector's Next Upcycle - Overweight
We believe IT retail stocks are still in the early stages of a new upward cycle, driven by the sharp increase in IT product prices. Companies in...
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