Pc Connection Inc Financials
This page shows Pc Connection Inc (CNXN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
PC Connection runs a thin-margin distribution model where working-capital swings matter more than small changes in profit.
FY2025 produced almost the same net income as FY2024, yet operating cash flow fell from$173.9M to$65.4M ; the cash shortfall showed up in a rebuild of receivables and inventory rather than in weaker reported margins. That means free cash flow here is driven heavily by balance-sheet movement inside the business, so stable earnings can still mask a much weaker cash year.
Across FY2023-FY2025, gross margin rose from
Even with net income below FY2024, diluted EPS barely moved because the share count fell to 25.2M. With no long-term debt reported, a 2.9x current ratio, and
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Pc Connection Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Pc Connection Inc has an operating margin of 3.5%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 63/100, indicating healthy but not exceptional operating efficiency. This is up from 3.5% the prior year.
Pc Connection Inc's revenue grew a modest 2.5% year-over-year to $2.9B. This slow but positive growth earns a score of 33/100.
Pc Connection Inc has a moderate D/E ratio of 0.48. This balance of debt and equity financing earns a leverage score of 61/100.
With a current ratio of 2.90, Pc Connection Inc holds $2.90 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.
Pc Connection Inc has a free cash flow margin of 2.0%, earning a moderate score of 44/100. The company generates positive cash flow after capital investments, but with room for improvement.
Pc Connection Inc earns a strong 9.2% return on equity (ROE), meaning it generates $9 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 77/100. This is down from 9.6% the prior year.
Pc Connection Inc scores 6.64, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Pc Connection Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Pc Connection Inc generates $0.78 in operating cash flow ($65.4M OCF vs $83.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Pc Connection Inc generated $2.9B in revenue in fiscal year 2025. This represents an increase of 2.5% from the prior year.
Pc Connection Inc's EBITDA was $109.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 0.9% from the prior year.
Pc Connection Inc reported $83.7M in net income in fiscal year 2025. This represents a decrease of 3.9% from the prior year.
Pc Connection Inc earned $3.27 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 0.6% from the prior year.
Cash & Balance Sheet
Pc Connection Inc generated $58.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 65.1% from the prior year.
Pc Connection Inc held $193.2M in cash against $0 in long-term debt as of fiscal year 2025.
Pc Connection Inc had 25M shares outstanding in fiscal year 2025. This represents a decrease of 3.7% from the prior year.
Margins & Returns
Pc Connection Inc's gross margin was 18.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the prior year.
Pc Connection Inc's operating margin was 3.5% in fiscal year 2025, reflecting core business profitability. This is up 0.0 percentage points from the prior year.
Pc Connection Inc's net profit margin was 2.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.
Pc Connection Inc's ROE was 9.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.4 percentage points from the prior year.
Capital Allocation
Pc Connection Inc spent $76.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 516.3% from the prior year.
Pc Connection Inc invested $7.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 2.5% from the prior year.
CNXN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $721.9M+2.7% | $702.9M-0.9% | $709.1M-6.7% | $759.7M+8.4% | $701.0M-1.1% | $708.9M-2.2% | $724.7M-1.6% | $736.5M |
| Cost of Revenue | $589.1M+3.8% | $567.3M-0.5% | $570.4M-8.3% | $621.9M+8.4% | $573.7M-0.9% | $579.1M-1.7% | $589.3M-1.8% | $599.9M |
| Gross Profit | $132.7M-2.1% | $135.6M-2.2% | $138.6M+0.6% | $137.8M+8.2% | $127.3M-1.9% | $129.8M-4.2% | $135.4M-0.8% | $136.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $109.5M+0.5% | $108.9M+0.5% | $108.4M+1.4% | $106.9M-2.7% | $109.9M+2.5% | $107.1M+1.7% | $105.4M+0.1% | $105.2M |
| Operating Income | $20.2M-14.3% | $23.6M-22.0% | $30.3M-2.0% | $30.9M+112.8% | $14.5M-35.9% | $22.6M-24.6% | $30.0M-2.8% | $30.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $6.4M-1.3% | $6.5M-30.0% | $9.2M-1.2% | $9.3M+85.8% | $5.0M-23.9% | $6.6M-30.8% | $9.5M+1.2% | $9.4M |
| Net Income | $17.2M-16.8% | $20.7M-16.3% | $24.7M-0.2% | $24.8M+83.9% | $13.5M-34.9% | $20.7M-23.4% | $27.1M+3.4% | $26.2M |
| EPS (Diluted) | $0.68 | N/A | $0.970.0% | $0.97+90.2% | $0.51 | N/A | $1.02+3.0% | $0.99 |
CNXN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B+5.5% | $1.4B+3.5% | $1.3B+2.9% | $1.3B+1.7% | $1.2B-4.0% | $1.3B+1.1% | $1.3B+0.2% | $1.3B |
| Current Assets | $1.3B+5.7% | $1.2B+4.0% | $1.2B+3.1% | $1.1B+2.0% | $1.1B-4.3% | $1.2B+1.3% | $1.2B+0.4% | $1.1B |
| Cash & Equivalents | $196.3M+1.6% | $193.2M+2.9% | $187.8M+0.6% | $186.7M+2.3% | $182.5M+2.3% | $178.3M+6.5% | $167.5M+30.7% | $128.2M |
| Inventory | $194.3M+35.3% | $143.6M+6.3% | $135.0M+1.1% | $133.5M-12.1% | $151.8M+59.7% | $95.1M-16.4% | $113.7M-16.8% | $136.6M |
| Accounts Receivable | $661.5M+2.1% | $648.0M+5.1% | $616.7M-3.2% | $637.0M+5.5% | $604.0M-1.2% | $611.4M+4.5% | $585.1M-2.3% | $598.8M |
| Goodwill | $73.6M0.0% | $73.6M0.0% | $73.6M0.0% | $73.6M0.0% | $73.6M0.0% | $73.6M0.0% | $73.6M0.0% | $73.6M |
| Total Liabilities | $503.3M+14.2% | $440.8M+9.4% | $402.8M+4.8% | $384.5M+3.8% | $370.5M-4.6% | $388.4M0.0% | $388.4M-4.9% | $408.6M |
| Current Liabilities | $477.2M+13.5% | $420.4M+9.5% | $384.1M+4.3% | $368.3M+4.1% | $353.9M-4.7% | $371.2M+1.0% | $367.5M-5.5% | $388.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $921.7M+1.3% | $910.1M+0.8% | $902.7M+2.0% | $884.8M+0.9% | $877.0M-3.7% | $911.0M+1.5% | $897.4M+2.6% | $874.9M |
| Retained Earnings | $918.1M+1.3% | $905.9M+1.9% | $889.0M+2.4% | $868.0M+2.5% | $847.0M+1.1% | $837.5M+2.2% | $819.4M+3.1% | $794.9M |
CNXN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $14.3M-48.0% | $27.4M-57.3% | $64.1M+144.3% | $26.3M+150.1% | -$52.4M-307.5% | $25.2M-52.3% | $52.9M+37.9% | $38.4M |
| Capital Expenditures | $2.0M-9.3% | $2.2M+17.0% | $1.9M+15.4% | $1.6M-5.3% | $1.7M-27.5% | $2.4M+32.0% | $1.8M-1.7% | $1.8M |
| Free Cash Flow | $12.3M-51.3% | $25.2M-59.5% | $62.3M+152.8% | $24.6M+145.5% | -$54.1M-336.4% | $22.9M-55.3% | $51.2M+39.9% | $36.6M |
| Investing Cash Flow | -$3.0M+53.1% | -$6.5M+87.9% | -$53.8M-3218.4% | -$1.6M-101.5% | $104.7M+1968.5% | -$5.6M+10.5% | -$6.3M+87.9% | -$51.8M |
| Financing Cash Flow | -$8.2M+47.4% | -$15.6M-67.5% | -$9.3M+54.4% | -$20.4M+57.7% | -$48.2M-445.0% | -$8.8M-19.6% | -$7.4M-24.4% | -$5.9M |
| Dividends Paid | $5.0M+33.4% | $3.8M-0.5% | $3.8M-0.3% | $3.8M-2.6% | $3.9M+48.8% | $2.6M-0.1% | $2.6M-0.2% | $2.6M |
| Share Buybacks | $2.5M-76.9% | $10.7M+111.9% | $5.1M-69.7% | $16.7M-61.8% | $43.7M+842.0% | $4.6M+12.7% | $4.1M+20.2% | $3.4M |
CNXN Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.4%-0.9pp | 19.3%-0.3pp | 19.6%+1.4pp | 18.1%-0.0pp | 18.2%-0.2pp | 18.3%-0.4pp | 18.7%+0.1pp | 18.5% |
| Operating Margin | 2.8%-0.6pp | 3.4%-0.9pp | 4.3%+0.2pp | 4.1%+2.0pp | 2.1%-1.1pp | 3.2%-1.0pp | 4.2%-0.1pp | 4.2% |
| Net Margin | 2.4%-0.6pp | 2.9%-0.5pp | 3.5%+0.2pp | 3.3%+1.3pp | 1.9%-1.0pp | 2.9%-0.8pp | 3.7%+0.2pp | 3.5% |
| Return on Equity | 1.9%-0.4pp | 2.3%-0.5pp | 2.7%-0.1pp | 2.8%+1.3pp | 1.5%-0.7pp | 2.3%-0.8pp | 3.0%+0.0pp | 3.0% |
| Return on Assets | 1.2%-0.3pp | 1.5%-0.4pp | 1.9%-0.1pp | 1.9%+0.9pp | 1.1%-0.5pp | 1.6%-0.5pp | 2.1%+0.1pp | 2.0% |
| Current Ratio | 2.70-0.2 | 2.90-0.2 | 3.06-0.0 | 3.09-0.1 | 3.15+0.0 | 3.140.0 | 3.13+0.2 | 2.95 |
| Debt-to-Equity | 0.55+0.1 | 0.48+0.0 | 0.45+0.0 | 0.43+0.0 | 0.420.0 | 0.430.0 | 0.43-0.0 | 0.47 |
| FCF Margin | 1.7%-1.9pp | 3.6%-5.2pp | 8.8%+5.5pp | 3.2%+11.0pp | -7.7%-11.0pp | 3.2%-3.8pp | 7.1%+2.1pp | 5.0% |
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Frequently Asked Questions
What is Pc Connection Inc's annual revenue?
Pc Connection Inc (CNXN) reported $2.9B in total revenue for fiscal year 2025. This represents a 2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pc Connection Inc's revenue growing?
Pc Connection Inc (CNXN) revenue grew by 2.5% year-over-year, from $2.8B to $2.9B in fiscal year 2025.
Is Pc Connection Inc profitable?
Yes, Pc Connection Inc (CNXN) reported a net income of $83.7M in fiscal year 2025, with a net profit margin of 2.9%.
What is Pc Connection Inc's EBITDA?
Pc Connection Inc (CNXN) had EBITDA of $109.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Pc Connection Inc's gross margin?
Pc Connection Inc (CNXN) had a gross margin of 18.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pc Connection Inc's operating margin?
Pc Connection Inc (CNXN) had an operating margin of 3.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Pc Connection Inc's net profit margin?
Pc Connection Inc (CNXN) had a net profit margin of 2.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Pc Connection Inc's return on equity (ROE)?
Pc Connection Inc (CNXN) has a return on equity of 9.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pc Connection Inc's free cash flow?
Pc Connection Inc (CNXN) generated $58.0M in free cash flow during fiscal year 2025. This represents a -65.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Pc Connection Inc's operating cash flow?
Pc Connection Inc (CNXN) generated $65.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Pc Connection Inc's total assets?
Pc Connection Inc (CNXN) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Pc Connection Inc's capital expenditures?
Pc Connection Inc (CNXN) invested $7.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Pc Connection Inc's current ratio?
Pc Connection Inc (CNXN) had a current ratio of 2.90 as of fiscal year 2025, which is generally considered healthy.
What is Pc Connection Inc's debt-to-equity ratio?
Pc Connection Inc (CNXN) had a debt-to-equity ratio of 0.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pc Connection Inc's return on assets (ROA)?
Pc Connection Inc (CNXN) had a return on assets of 6.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pc Connection Inc's Altman Z-Score?
Pc Connection Inc (CNXN) has an Altman Z-Score of 6.64, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Pc Connection Inc's Piotroski F-Score?
Pc Connection Inc (CNXN) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pc Connection Inc's earnings high quality?
Pc Connection Inc (CNXN) has an earnings quality ratio of 0.78x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Pc Connection Inc?
Pc Connection Inc (CNXN) scores 59 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.