SNX · CIK 1177394
What TD SYNNEX Corporation told the SEC could break it.
TD SYNNEX's disclosures cluster on customer and China concentration. One customer was 11% of total revenue in fiscal 2025, and its systems design and integration line in particular carries heavy customer concentration on contracts that often offer limited volume guarantees or end-of-life protection, so losing a major customer would hurt results. Separately, a significant portion of its IT systems support and software development sits in China, and that footprint — together with its IT-product flows — is exposed to U.S.-China geopolitical tensions: trade disputes, tariffs, sanctions, import/export and investment restrictions, plus Chinese cybersecurity and data-transfer laws that could disrupt its China operations and access to personnel.
3 self-disclosed vulnerabilities, pulled from its own filings — each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- one customer = 11% of revenue; systems-design/integration line concentrationmedium
One customer accounted for 11% of TD SYNNEX's total revenue in fiscal 2025 (12% in 2024); its systems design and integration solutions line has significant customer concentration with contracts that often offer limited volume guarantees or end-of-life protection, so losing a significant customer could adversely impact the business.
“One customer accounted for 11%, 12% and 11% of our total revenue in fiscal years 2025, 2024 and 2023, respectively. The loss of one of our significant customers could result in an adverse impact on our business. For example, our systems design and integration solutions product line has significant customer concentration, requires investments in working capital and infrastructure, and has customer contracts that often offer limited or no volume guarantees or protection for end-of-life investments.”
SEC filing →As of 2026
Geographic concentration
- IT systems support & software development concentrated in Chinamedium
A significant portion of TD SYNNEX's IT systems support and software development (plus systems-integration facilities and G&A) is located in China; China's controlled FX, extensive regulation, uncertain legal system and data/cybersecurity laws expose its global operations to China-specific risk.
“A significant portion of our IT systems support and software development activities are located in China. We rely on our China-based IT operations and personnel in ongoing software development, maintenance and customer-specific customization work.”
Regulatory & policy
- US-China geopolitical tensions, tariffs and trade/export restrictionsmedium
TD SYNNEX's China operations and IT-product flows are exposed to US-China geopolitical tensions — trade disputes, tariffs, sanctions, import/export and investment restrictions — and Chinese cybersecurity/data-transfer laws that could materially harm its China-based operations and access to personnel.
“Geopolitical tensions, including with respect to trade disputes or barriers, tariffs, sanctions, import/export restrictions, investment restrictions, or other governmental actions could materially and negatively impact our China-based operations and our access to our China-based personnel.”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings — including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
Its suppliers
“Total revenue from the Company's largest distributor TD Synnex Corporation, and its global affiliates ("TD Synnex"), accounted for 14%, 33%, and 39% of Autodesk's net revenue for fiscal years ended January 31, 2026, 2025 and 2024, respectively. The majority of the net revenue from sales to TD Synnex is from sales made outside of the United States. No other customer accounted for more than 10% of Autodesk's total net revenue or trade accounts receivable for each of the respective periods.”
Cited →“2023 Apple, Inc. 12 % 12 % 11 % HP Inc. 10 % N/A ( 1 ) N/A ( 1 ) __________________ (1) Revenue generated from products purchased from this vendor was less than 10% of consolidated revenue during the period presented.”
Cited →“One customer, TD Synnex Corp, accounted for 12 % of HP's net revenue for fiscal year 2025. No single customer represented 10% or more of HP's net revenue in fiscal year 2024 or 2023.”
Cited →Vistance Networks, Inc. (formerly CommScope Holding)
“TD Synnex is a customer of the RUCKUS segment.”
Cited →“2023 Apple, Inc. 12 % 12 % 11 % HP Inc. 10 % N/A ( 1 ) N/A ( 1 ) __________________ (1) Revenue generated from products purchased from this vendor was less than 10% of consolidated revenue during the period presented.”
Cited →
In the MyPRIA app, this is checked against the companies you actually own.
← World Watch