Synnex announced its 2025 financial results, reporting consolidated revenue of NT$411.2 billion for the full year, the third-highest level in its history. Net profit after tax reached NT$8.5 billion, with earnings per share (EPS) of NT$5.08. The board also approved a dividend of NT$4.2 per share. Implying a dividend yield of about 6.1% based on the recent closing price.
Synnex said its 2025 performance demonstrated resilience, characterized by a “dip before a rebound.” In the first half of the year, earnings were temporarily pressured by external factors including reciprocal tariffs and the appreciation of the New Taiwan dollar. The high comparison base from the previous year, together with the company's prudent financial strategy, under which it recognized a significant one-off provision for high-risk accounts receivable, also weighed on profitability. As these headwinds gradually eased, however, the rollout of AI applications, a recovery in the memory market, and the emergence of a new PC replacement cycle helped drive stronger operating momentum in the second half. The fourth quarter marked a clear peak, with revenue, gross profit, and operating income all reaching highs for a single quarter.
For the full year, Synnex reported gross profit of NT$17.5 billion and operating income of NT$8.6 billion. Overseas joint ventures in Thailand, Vietnam, India, the Middle East, and Africa delivered strong results, lifting joint venture income by 28% year over year. Profit before tax totaled NT$11.8 billion, while net profit after tax was NT$8.5 billion, equivalent to EPS of NT$5.08. The board approved a dividend of NT$4.2 per share.
In the fourth quarter, operating momentum strengthened significantly. Consolidated revenue rose to a record NT$126.2 billion, up 11% year over year, while gross profit also reached a new high of NT$5.4 billion. Supported by ongoing digital transformation initiatives and improved operational efficiency, the operating expense ratio declined to 1.72%, the lowest quarterly level on record. This helped lift operating income to a record NT$3.2 billion. Net profit after tax for the quarter reached NT$2.8 billion, with EPS of NT$1.66.
Looking ahead to 2026, Synnex has begun the year with solid growth momentum. Revenue for the first two months totaled NT$70.3 billion, up 23% year over year and a record for the same period. All four major business segments recorded growth. The company said the strong performance since the fourth quarter of last year reflects the effectiveness of its strategy to expand AI-related applications and develop higher-value business segments. Going forward, Synnex will continue to deepen its regional presence, increase the share of Enterprise Solutions businesses, and focus on higher value-added areas to further strengthen operational resilience and long-term profitability.