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PC Connection, Inc.

CNXN Technology Electronics & Computer Distribution

PC Connection, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.9 billion, up 2.52% from fiscal 2024.

Revenue
+23.3%
EPS
+27.2%
Free cash flow
−87.7%

Quarter to September 2026, against a year earlier

79.15 0.52 −0.65%
Market cap
$2.0B
P/E
19.5×
Fwd P/E
18.1×
Dividend yield
0.95%
F-score
5/9
Altman Z
6.02
Beneish M
−2.43
Dividend safety
85/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 19.27
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — 2 4 4 2 2 1
Insider Ownership 55.83%

Capital & Financial Ratios $m

Size
Market Cap 2,010.00
Revenue ttm 3,153.11
Net income ttm 102.56
Free cash flow ttm (20.58)
Net debt Q (343.31)
Valuation
P/E 19.50
Forward P/E 18.10
Price / sales 0.63
Forward P/S Powerpack
Price / FCF 0.00
Price / book 2.04
Financial health
Current ratio Q 2.72 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 2,117.60
Growth
Revenue growth Q +23.30% (above 0%: growing)
Operating income growth Q +35.40% (above 0%: growing)
EPS, this year +29.65% (at or above 15%: strong)
EPS, next year A +7.06%
Revenue, next year A +14.84% (at or above 10%: strong)
EPS, past 5 yrs +9.05%
EPS, next 5 yrs A +14.40%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.5×, against a ten-year median of 0.4×; over the ten years it ranged from 0.2× in 2016 to 0.6× in 2026.
P/E against its own 10 years 74.49%
10-year low 10-year high
P/S against its own 10 years 90.98%
10-year low 10-year high
P/B against its own 10 years 84.71%
10-year low 10-year high
EV/Sales against its own 10 years 93.62%
10-year low 10-year high

Dividends raised every year since 2023

Yield
0.95%
Annual rate
0.75
Payout ratio
18.5%
Growth, 2023–26
+35.7%/yr
  1. 0.32 ’23
  2. 0.40 ’24 +25
  3. 0.60 ’25 +50
  4. 0.80 ’26 +33
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 297 443 407 343
Receivables 611 611 648 790
Inventory 124 95 144 227
Other — — — —
1,049 1,167 1,221 1,383
2023 2024 2025 Q'26
Payables 264 300 338 413
ST’ Debt — — — —
Other — — — —
328 371 420 508

Compound Annual Growth %

10y 5y 3y
Sales 1.10% 2.09% (2.77%)
Cash Flow 7.81% 12.63% 23.32%
Earnings 5.98% 8.47% (2.10%)
Book Value 8.78% 7.42% 5.91%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.04 Actual 1.24

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.86 0.91 Beat by 0.05
Q1 FY26 0.62 0.77 Beat by 0.15
Q2 FY26 1.04 1.31 Beat by 0.27
Q3 FY26 1.04 1.24 Beat by 0.20
Q4 FY26 1.15 — Reports 3 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.68 1.31 1.24 — —
’25 0.51 0.97 0.97 0.82 3.27
’24 0.50 0.99 1.02 0.78 3.29
’23 0.54 0.75 0.97 0.90 3.15
’22 0.83 0.96 0.88 0.71 3.37
’21 0.39 0.66 0.76 0.85 2.65
’20 0.56 0.29 0.64 0.62 2.12
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 722 854 874 — —
’25 701 760 709 703 2,873
’24 632 736 725 709 2,802
’23 728 734 693 696 2,851
’22 788 829 776 732 3,125
’21 637 704 751 800 2,893
’20 712 550 653 676 2,590
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 14 (64) 10 — —
’25 (52) 26 64 27 65
’24 57 38 53 25 174
’23 20 116 50 12 198
’22 (38) 30 24 19 35
’21 6 26 (23) 49 58
’20 45 58 (56) (10) 36
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 12 (66) 8 — —
’25 (54) 25 62 25 58
’24 56 37 51 23 166
’23 18 113 48 10 188
’22 (41) 28 22 17 26
’21 4 24 (25) 46 48
’20 40 54 (57) (12) 25
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,693 2,912 2,699 2,820 2,590 2,893 3,125 2,851 2,802 2,873 3,153 +0.7% 3,299 3,422 3,654 +8.3%
Gross margin, % 13.78 13.12 15.23 16.00 16.17 16.06 16.84 17.95 18.55 18.77 18.64 +5.0 pt
EBT 80 78 89 113 73 97 122 113 117 114 140 +3.9%
EBT margin, % 2.99 2.67 3.28 4.00 2.83 3.34 3.89 3.97 4.19 3.96 4.43 +1.0 pt
Net income 48 55 65 82 56 70 89 83 87 84 103 +6.3%
Per share, $
Per share, $ Revenue 101.50 108.77 101.04 107.08 99.03 110.42 118.92 108.44 106.46 112.61 124.92 +1.2%
Earnings 1.81 2.05 2.42 3.12 2.13 2.67 3.40 3.17 3.31 3.28 4.06 +6.8%
Cash flow 1.27 0.72 3.25 1.39 1.38 2.20 1.33 7.53 6.61 2.57 (0.49) +8.2%
Capex (0.45) (0.44) (0.79) (0.97) (0.42) (0.39) (0.35) (0.36) (0.29) (0.29) (0.32) (4.7%)
Free cash flow 0.82 0.28 2.46 0.42 0.96 1.81 0.98 7.17 6.32 2.28 (0.82) +12.0%
Book value 16.34 18.01 19.68 22.68 24.33 26.05 29.16 31.98 34.61 35.68 38.87 +9.1%
Shares, m 27 27 27 26 26 26 26 26 26 26 25 (0.4%)
Valuation, ×
Valuation, × P/E 15.35 12.82 12.29 15.97 22.20 16.15 14.79 20.73 20.93 17.50 19.50 16.9
P/S 0.27 0.24 0.29 0.46 0.48 0.39 0.42 0.60 0.65 0.51 0.63 0.4
P/B 1.70 1.46 1.51 2.19 1.94 1.66 1.72 2.05 2.00 1.62 2.04 1.8
EV/Sales 0.26 0.22 0.26 0.43 0.44 0.35 0.38 0.50 0.49 0.37 0.52 0.4
EV/FCF 33.08 98.77 10.87 121.29 47.27 21.93 48.15 7.60 8.35 18.68 (77.01) 41.6
Cash, $m
Cash, $m Operating cash flow 34 19 87 37 36 58 35 198 174 65 (12) +7.7%
Capex (12) (12) (21) (26) (11) (10) (9) (10) (8) (7) (8) (5.1%)
Free cash flow 22 8 66 11 25 48 26 188 166 58 (21) +11.6%
Balance, $m
Balance, $m Working capital 329 368 409 467 517 558 643 721 796 800 875 +10.4%
Net debt (49) (50) (92) (90) (96) (108) (123) (297) (443) (407) (343) +26.5%
Shareholders’ equity 433 482 526 597 636 682 766 841 911 910 981 +8.6%
Returns, %
Returns, % ROA 7.26 7.65 8.32 9.42 5.71 6.66 8.17 7.28 7.00 6.32 7.27 (0.9) pt
ROIC 13.10 11.21 12.33 13.80 8.33 10.51 11.71 11.86 12.95 12.33 12.52 (0.8) pt
ROE 11.65 11.98 12.81 14.62 9.04 10.60 12.32 10.36 9.94 9.19 10.89 (2.5) pt
People
People Employees 2,501 2,505 2,513 2,609 2,598 2,542 2,685 2,703 2,580 2,525 — +0.1%
Revenue/emp, $m 1.08 1.16 1.07 1.08 1.00 1.14 1.16 1.05 1.09 1.14 — +0.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

PC Connection, Inc. vs peers in Electronics & Computer Distribution (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SNX TD SYNNEX Corporation $17.2B 13.3× 11.8× +37.75% (above 0%: growing) +88.41% (above 0%: growing) −556.06% (below 0%: shrinking) 6.61% 2.98% Compare
ARW Arrow Electronics, Inc. $9.0B 9.1× 9.0× +38.97% (above 0%: growing) +196.28% (above 0%: growing) −50.11% (below 0%: shrinking) 10.82% 4.01% Compare
AVT Avnet, Inc. $6.3B 11.5× 6.6× +81.70% (above 0%: growing) +453.18% (above 0%: growing) −412.30% (below 0%: shrinking) 10.02% 4.43% Compare
NSIT Insight Enterprises, Inc. $4.5B 26.5× 19.7× +21.84% (above 0%: growing) −53.29% (below 0%: shrinking) −47.26% (below 0%: shrinking) 21.43% 2.81% Compare
CNXN PC Connection, Inc. $2.0B 19.5× 18.1× +23.30% (above 0%: growing) +27.17% (above 0%: growing) −87.72% (below 0%: shrinking) 18.51% 4.69%
SCSC ScanSource, Inc. $918.0M 13.2× 9.9× +30.10% (above 0%: growing) −52.23% (below 0%: shrinking) −312.08% (below 0%: shrinking) 12.15% 1.29% Compare
CLMB Climb Global Solutions, Inc. $743.5M 30.7× 28.2× +36.55% (above 0%: growing) +69.88% (above 0%: growing) −49.64% (below 0%: shrinking) 14.98% 4.52% Compare
TAIT Taitron Components Incorporated $6.6M 16.6× — −61.87% (below 0%: shrinking) n/m −192.59% (below 0%: shrinking) 4.72% (65.17%) Compare
IZM ICZOOM Group Inc. $1.6M 1.6× — −37.90% (below 0%: shrinking) +33.33% (above 0%: growing) +170.78% (above 0%: growing) 2.33% 0.00% Compare
Median of peers $2.7B 13.3× 10.8× +33.33% +69.88% −121.35% 10.42% 2.90%

All 10 Electronics & Computer Distribution stocks →

Pay and ownership Proxy statement filed 27 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 7.50m 5.74m 129.07
2024 5.08m 5.66m 153.36
2023 1.92m 5.36m 147.95
2022 4.79m 5.55m 102.57
2021 3.21m 2.34m 93.75

Ownership

Directors and executive officers, together 56.60%
Patricia Gallup 54.60%
PO Box 27.90% of Common Stock
50 Hudson Yards 7.30% of Common Stock
6300 Bee Cave Road, Building One 6.10% of Common Stock
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

PC Connection, Inc. (CNXN) Latest News

29 Oct

Impact 4 · · The Motley Fool transcript
Impact 3 · · Moby

28 Oct

Impact 4 · · MarketBeat
Impact 4 · · Simply Wall St.
Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · Associated Press
Impact 3 · · Business Wire

26 Oct

Impact 3 · · StockStory

14 Oct

Impact 4 · · Business Wire

2 Oct

Impact 3 · · StockStory

22 Sep

Impact 3 · · Zacks

17 Sep

Impact 3 ·

4 Sep

Impact 3 · · Zacks

20 Aug

Impact 4 ·

9 Aug

Impact 4 ·
Impact 3 ·

7 Aug

Impact 3 · · The Motley Fool transcript

4 Aug

Impact 4 ·

30 Jul

Impact 4 · transcript
Impact 3 · · Moby

29 Jul

Impact 4 ·
Impact 3 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·

10 Jun

Impact 3 · · StockStory

23 May

Impact 3 · · Simply Wall St.

4 May

Impact 3 · · Zacks

2 May

Impact 4 · · Simply Wall St.

1 May

Impact 4 · · StockStory

CNXN metrics, ten years each

stockrow.com/CNXN · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com