PC CONNECTION INC CNXN
We are a Fortune 1000 Global Solutions Provider that simplifies IT, guiding the connection between people and technology. Our dedicated account managers partner with customers to design, deploy, and support cutting-edge IT environments using the latest hardware, software, and services. We provide a wide range of IT solutions, from the desktop to the cloud—including computer systems, data center solutions, security, artificial intelligence, or AI, software and peripheral equipment, networking communications, and other products and accessories that we develop internally and secure from manufacturers, distributors, and other suppliers. Our Technology Solutions and Services Organization, or TSSO, and state-of-the-art ISO 9001:2015 SOC 2 Type 2 certified Technology Integration and Distribution Center, or TIDC, offer end-to-end services related to the design, configuration, and implementation of IT solutions. Our team also provides a comprehensive portfolio of managed services and professional services. These services are performed by our personnel and by third-party providers. Our GlobalServe offering ensures worldwide coverage for our multinational customers, delivering global procurement solutions through our network of in-country suppliers in over 150 countries.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.87B | $2.80B | $2.85B | $3.12B | $2.89B | $2.59B | $2.82B | $2.70B | $2.91B | $2.69B |
| Cost of revenue | $2.33B | $2.28B | $2.34B | $2.60B | $2.43B | $2.17B | $2.37B | $2.29B | $2.53B | $2.32B |
| Gross profit | $539.3M | $519.8M | $511.7M | $526.2M | $464.6M | $418.8M | $451.3M | $411.1M | $382.1M | $371.2M |
| SG&A | $434.0M | $422.3M | $405.9M | $405.6M | $368.1M | $345.7M | $338.6M | $324.4M | $300.9M | $287.2M |
| Operating income | $99.3M | $97.1M | $103.2M | $120.6M | $96.5M | $72.1M | $112.0M | $85.7M | $77.5M | $80.5M |
| Interest expense | — | — | — | — | — | $107.0K | $107.0K | $145.0K | $98.0K | $67.0K |
| Pre-tax income | $113.7M | $117.5M | $113.1M | $121.6M | $96.5M | $73.2M | $112.7M | $88.7M | $77.6M | $80.5M |
| Income tax | $30.0M | $30.4M | $29.8M | $32.4M | $26.6M | $17.4M | $30.6M | $24.1M | $22.8M | $32.3M |
| Net income | $83.7M | $87.1M | $83.3M | $89.2M | $69.9M | $55.8M | $82.1M | $64.6M | $54.9M | $48.1M |
| EPS, basic | 3.28 | 3.31 | 3.17 | 3.40 | 2.67 | 2.13 | 3.12 | 2.42 | 2.05 | 1.81 |
| EPS, diluted | 3.27 | 3.29 | 3.15 | 3.37 | 2.65 | 2.12 | 3.10 | 2.41 | 2.04 | 1.80 |
| Shares, diluted (wtd. avg.) | $25.6M | $26.5M | $26.4M | $26.4M | $26.4M | $26.3M | $26.5M | $26.9M | $26.9M | $26.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $193.2M | $178.3M | $145.0M | $122.9M | $108.3M | $95.7M | $90.1M | $91.7M | $50.0M | $49.2M |
| Short-term investments | $213.5M | $264.3M | $152.2M | — | — | — | — | — | — | — |
| Receivables | $648.0M | $611.4M | $606.8M | $610.3M | $607.5M | $611.0M | $549.6M | $447.7M | $449.7M | $411.9M |
| Inventory | $143.6M | $95.1M | $124.2M | $208.7M | $206.6M | $140.9M | $124.7M | $119.2M | $106.8M | $90.5M |
| Total current assets | $1.22B | $1.17B | $1.05B | $953.8M | $932.4M | $859.0M | $776.4M | $669.2M | $616.1M | $559.2M |
| Property, plant and equipment | $46.9M | $52.5M | $56.7M | $59.2M | $61.0M | $61.5M | $64.2M | $51.8M | $41.5M | $39.4M |
| Goodwill | $73.6M | $73.6M | $73.6M | $73.6M | $73.6M | $73.6M | $73.6M | $73.6M | $73.6M | $73.6M |
| Other intangibles | $989.0K | $2.2M | $3.4M | $4.6M | $5.9M | $7.1M | $8.3M | $9.6M | $11.0M | $12.1M |
| Total assets | $1.35B | $1.30B | $1.19B | $1.10B | $1.08B | $1.02B | $937.3M | $805.4M | $747.9M | $686.1M |
| Accounts payable | $338.2M | $300.2M | $263.7M | $232.6M | $281.8M | $266.8M | $235.6M | $201.6M | $194.3M | $177.9M |
| Total current liabilities | $420.4M | $371.2M | $328.0M | $310.5M | $374.6M | $342.3M | $308.9M | $259.8M | $248.0M | $230.3M |
| Total liabilities | $440.8M | $388.4M | $347.6M | $333.7M | $400.9M | $379.0M | $340.0M | $279.5M | $265.6M | $252.7M |
| Retained earnings | $905.9M | $837.5M | $760.9M | $686.0M | $605.8M | $562.1M | $514.7M | $441.0M | $383.7M | $337.9M |
| Total equity | $910.1M | $911.0M | $840.8M | $766.2M | $682.5M | $636.3M | $597.3M | $525.9M | $482.3M | $433.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $65.4M | $173.9M | $198.0M | $34.9M | $57.8M | $36.1M | $36.6M | $86.8M | $19.3M | $33.6M |
| Depreciation and amortisation | $10.5M | $11.8M | $11.4M | $10.8M | $11.0M | $12.4M | $12.1M | $12.6M | $10.3M | $9.2M |
| Stock-based compensation | $9.3M | $8.5M | $7.0M | $5.7M | $4.2M | $2.7M | $1.9M | $1.1M | $741.0K | $1.0M |
| Capital expenditure | $7.4M | $7.6M | $9.6M | — | — | — | — | — | $11.8M | $11.9M |
| Investing cash flow | $42.8M | -$115.3M | -$160.2M | -$9.1M | -$8.7M | -$11.0M | -$25.7M | -$21.2M | -$11.8M | -$54.9M |
| Financing cash flow | -$93.4M | -$25.2M | -$15.7M | -$11.2M | -$36.4M | -$19.5M | -$12.6M | -$23.9M | -$6.7M | -$9.7M |
| Dividends paid | $15.3M | $10.5M | $8.4M | $8.9M | $26.2M | $8.4M | $8.4M | $8.5M | $9.1M | $9.0M |
| Buybacks | $76.3M | $12.4M | $5.4M | — | — | $10.2M | $4.5M | $15.4M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-019108.
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