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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. In the quarter to June 2026, revenue grew 12.4%, EPS grew 33.7% and free cash flow fell 366.8%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

92.45 1.56 +1.72%
Market cap
$2.3B
P/E
24.4×
Fwd P/E
18.8×
Dividend yield
0.81%
F-score
5/9
Altman Z
6.02
Beneish M
−2.43
Dividend safety
85/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 16.69
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — 2 4 4 2 1
Insider Ownership 55.88%

Capital & Financial Ratios $m

Market Cap 2,290.00
Revenue 2,987.87
Net Income 95.84
Free Cash Flow 34.05
Net Debt (340.69)
Current Ratio 2.88 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 24.39
Fwd P/E 18.80
P/S ratio 0.78
P/B ratio 2.45
Past 5Y EPS Growth 9.05%
This Y EPS Growth 21.37% (at or above 15%: strong)
Next Y EPS Growth 6.95%
Next Y revenue growth 8.22%
Next 5Y EPS Growth 10.63%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.7×, against a ten-year median of 0.4×; over the ten years it ranged from 0.2× in 2016 to 0.7× in 2026.
P/E against its own 10 years 98.45%
10-year low 10-year high
P/S against its own 10 years 99.96%
10-year low 10-year high
P/B against its own 10 years 99.96%
10-year low 10-year high
EV/Sales against its own 10 years 99.96%
10-year low 10-year high
EV/FCF against its own 10 years 85.57%
10-year low 10-year high

Dividends

Payout Ratio 0.20
Annual Dividend Rate 0.75
Annual Dividend Yield 0.81%
total individual payouts
2026 0.60
0.20
0.20
0.20
2025 0.60
0.15
0.15
0.15
0.15
2024 0.40
0.10
0.10
0.10
0.10
2023 0.32
0.08
0.08
0.08
0.08
2022 0.00
0.34
2021 0.32
0.32
1.00
2020 Powerpack
2019 0.00
0.32
2017 0.00
0.34
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 297 443 407 341
Receivables 611 611 648 727
Inventory 124 95 144 205
Other — — — —
1,049 1,167 1,221 1,294
2023 2024 2025 Q'26
Payables 264 300 338 378
ST’ Debt — — — —
Other — — — —
328 371 420 449

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%

Revenue $m

Mar Jun Sep Dec Year
’26 722 854 — — —
’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) — — —
’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) — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.68 1.31 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 19.19 23.52 22.66 29.45 30.10 40.91 40.08 37.76 57.47 54.97

Analyst estimates 2026–2028

Powerpack
High 29.74 30.48 43.05 52.69 56.33 55.21 56.68 70.45 77.19 74.84
People
People Employees 2,501 2,505 2,513 2,609 2,598 2,542 2,685 2,703 2,580 2,525
Revenue/emp, $m 1.08 1.16 1.07 1.08 1.00 1.14 1.16 1.05 1.09 1.14
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
Gross margin, % 13.78 13.12 15.23 16.00 16.17 16.06 16.84 17.95 18.55 18.77
EBT 80 78 89 113 73 97 122 113 117 114
EBT margin, % 2.99 2.67 3.28 4.00 2.83 3.34 3.89 3.97 4.19 3.96
Net income 48 55 65 82 56 70 89 83 87 84
Depreciation 10 12 14 13 14 12 12 11 9 12
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
Earnings 1.81 2.05 2.42 3.12 2.13 2.67 3.40 3.17 3.31 3.28
Cash flow 1.27 0.72 3.25 1.39 1.38 2.20 1.33 7.53 6.61 2.57
Capex (0.45) (0.44) (0.79) (0.97) (0.42) (0.39) (0.35) (0.36) (0.29) (0.29)
Free cash flow 0.82 0.28 2.46 0.42 0.96 1.81 0.98 7.17 6.32 2.28
Book value 16.34 18.01 19.68 22.68 24.33 26.05 29.16 31.98 34.61 35.68
Shares, m 27 27 27 26 26 26 26 26 26 26
Valuation, ×
Valuation, × P/E 15.35 12.82 12.29 15.97 22.20 16.15 14.79 20.73 20.93 17.50
P/S 0.27 0.24 0.29 0.46 0.48 0.39 0.42 0.60 0.65 0.51
P/B 1.70 1.46 1.51 2.19 1.94 1.66 1.72 2.05 2.00 1.62
EV/Sales 0.26 0.22 0.26 0.43 0.44 0.35 0.38 0.50 0.49 0.37
EV/FCF 33.08 98.77 10.87 121.29 47.27 21.93 48.15 7.60 8.35 18.68
Cash, $m
Cash, $m Operating cash flow 34 19 87 37 36 58 35 198 174 65
Capex (12) (12) (21) (26) (11) (10) (9) (10) (8) (7)
Free cash flow 22 8 66 11 25 48 26 188 166 58
Balance, $m
Balance, $m Working capital 329 368 409 467 517 558 643 721 796 800
Total debt — — — 14 14 10 8 — — —
Net debt (49) (50) (92) (90) (96) (108) (123) (297) (443) (407)
Shareholders’ equity 433 482 526 597 636 682 766 841 911 910
Returns, %
Returns, % ROA 7.26 7.65 8.32 9.42 5.71 6.66 8.17 7.28 7.00 6.32
ROIC 13.10 11.21 12.33 13.80 8.33 10.51 11.71 11.86 12.95 12.33
ROE 11.65 11.98 12.81 14.62 9.04 10.60 12.32 10.36 9.94 9.19
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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 $21.3B 16.6× 20.0× +37.75% (above 0%: growing) +88.41% (above 0%: growing) −556.06% (below 0%: shrinking) 6.61% 2.98% Compare
ARW Arrow Electronics, Inc. $11.5B 14.4× 12.4× +31.82% (above 0%: growing) +46.96% (above 0%: growing) +232.38% (above 0%: growing) 11.26% 3.78% Compare
AVT Avnet, Inc. $8.2B 24.4× 12.7× +47.66% (above 0%: growing) +2,100.00% (above 0%: growing) −484.97% (below 0%: shrinking) 10.43% 2.78% Compare
NSIT Insight Enterprises, Inc. $4.7B 23.9× 14.6× +14.73% (above 0%: growing) +74.32% (above 0%: growing) +93.34% (above 0%: growing) 21.74% 5.46% Compare
CNXN PC Connection, Inc. $2.3B 24.4× 18.8× +12.41% (above 0%: growing) +33.67% (above 0%: growing) −366.82% (below 0%: shrinking) 18.44% 5.04%
SCSC ScanSource, Inc. $1.2B 16.5× 12.1× +17.25% (above 0%: growing) +41.57% (above 0%: growing) −193.39% (below 0%: shrinking) 12.57% 3.33% Compare
CLMB Climb Global Solutions, Inc. $608.3M 29.8× 18.0× +9.37% (above 0%: growing) −7.69% (below 0%: shrinking) +619.99% (above 0%: growing) 17.31% 4.24% Compare
TAIT Taitron Components Incorporated $6.6M 17.8× — −61.87% (below 0%: shrinking) n/m −192.59% (below 0%: shrinking) 4.72% (65.17%) Compare
IZM ICZOOM Group Inc. $2.2M 2.1× — −37.90% (below 0%: shrinking) +33.33% (above 0%: growing) +170.78% (above 0%: growing) 2.33% 0.00% Compare
Median of peers $3.0B 17.2× 13.6× +15.99% +46.96% −49.62% 10.85% 3.16%

All 10 Electronics & Computer Distribution stocks →

PC Connection, Inc. (CNXN) key facts

  • Concern: Net income was $83.7 million, or $3.28 per share (basic), a net margin of 2.91%.
  • Strength: PC Connection, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.9 billion, up 2.52% from fiscal 2024.
  • PC Connection, Inc. (CNXN) is an Electronics & Computer Distribution company in the Technology sector, listed on Nasdaq.
  • As of October 9, 2026, CNXN traded at $92.45, a market capitalization of $2.3 billion.
  • At that price the stock trades at 24.4× trailing-twelve-month earnings and 0.8× sales; its P/E is higher than 98% of its own readings over the past ten years.
  • PC Connection, Inc. pays an annual dividend of $0.75 per share, a yield of 0.81%, with a payout ratio of 19.8%.
  • Return on equity was 9.19% and debt-to-equity 0.00.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 6.02 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

PC Connection, Inc. (CNXN) Latest News

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stockrow.com/CNXN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com