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PC CONNECTION INC

CNXN Clue Score45
United States Fiscal year ends December CIK 0001050377
$92.81 +2.11% Close, 9 Oct 2026
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Price $92.81 +109.79% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2,692.6Operating income80.5Net income48.1EPS, diluted1.80Fiscal year 2017Revenue2,911.9 +8.1%Operating income77.5Net income54.9 +14.0%EPS, diluted2.04 +13.3%Fiscal year 2018Revenue2,699.5 −7.3%Operating income85.7Net income64.6 +17.7%EPS, diluted2.41 +18.1%Fiscal year 2019Revenue2,820.0 +4.5%Operating income112.0Net income82.1 +27.1%EPS, diluted3.10 +28.6%Fiscal year 2020Revenue2,590.3 −8.1%Operating income72.1Net income55.8 −32.1%EPS, diluted2.12 −31.6%Fiscal year 2021Revenue2,892.6 +11.7%Operating income96.5Net income69.9 +25.4%EPS, diluted2.65 +25.0%Fiscal year 2022Revenue3,125.0 +8.0%Operating income120.6Net income89.2 +27.6%EPS, diluted3.37 +27.2%Fiscal year 2023Revenue2,850.6 −8.8%Operating income103.2Net income83.3 −6.7%EPS, diluted3.15 −6.5%Fiscal year 2024Revenue2,802.1 −1.7%Operating income97.1Net income87.1 +4.6%EPS, diluted3.29 +4.4%Fiscal year 2025Revenue2,872.7 +2.5%Operating income99.3Net income83.7 −3.9%EPS, diluted3.27 −0.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2,692.6 2,911.9 2,699.5 2,820.0 2,590.3 2,892.6 3,125.0 2,850.6 2,802.1 2,872.7
Growth +8.1% −7.3% +4.5% −8.1% +11.7% +8.0% −8.8% −1.7% +2.5%
Operating income 80.5 77.5 85.7 112.0 72.1 96.5 120.6 103.2 97.1 99.3
Net income 48.1 54.9 64.6 82.1 55.8 69.9 89.2 83.3 87.1 83.7
Growth +14.0% +17.7% +27.1% −32.1% +25.4% +27.6% −6.7% +4.6% −3.9%
EPS, diluted 1.80 2.04 2.41 3.10 2.12 2.65 3.37 3.15 3.29 3.27
Growth +13.3% +18.1% +28.6% −31.6% +25.0% +27.2% −6.5% +4.4% −0.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin13.8%Operating margin3.0%Net margin1.8%Free cash flow margin0.8%Fiscal year 2017Gross margin13.1%Operating margin2.7%Net margin1.9%Free cash flow margin0.3%Fiscal year 2018Gross margin15.2%Operating margin3.2%Net margin2.4%Fiscal year 2019Gross margin16.0%Operating margin4.0%Net margin2.9%Fiscal year 2020Gross margin16.2%Operating margin2.8%Net margin2.2%Fiscal year 2021Gross margin16.1%Operating margin3.3%Net margin2.4%Fiscal year 2022Gross margin16.8%Operating margin3.9%Net margin2.9%Fiscal year 2023Gross margin18.0%Operating margin3.6%Net margin2.9%Free cash flow margin6.6%Fiscal year 2024Gross margin18.6%Operating margin3.5%Net margin3.1%Free cash flow margin5.9%Fiscal year 2025Gross margin18.8%Operating margin3.5%Net margin2.9%Free cash flow margin2.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 13.8% 13.1% 15.2% 16.0% 16.2% 16.1% 16.8% 18.0% 18.6% 18.8%
Operating margin 3.0% 2.7% 3.2% 4.0% 2.8% 3.3% 3.9% 3.6% 3.5% 3.5%
Net margin 1.8% 1.9% 2.4% 2.9% 2.2% 2.4% 2.9% 2.9% 3.1% 2.9%
Free cash flow margin 0.8% 0.3% n/a n/a n/a n/a n/a 6.6% 5.9% 2.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow33.6Capital expenditure−11.9Free cash flow21.7Dividends paid−9.0Fiscal year 2017Operating cash flow19.3Capital expenditure−11.8Free cash flow7.5 −65.4%Dividends paid−9.1Fiscal year 2018Operating cash flow86.8Buybacks−15.4Dividends paid−8.5Fiscal year 2019Operating cash flow36.6Buybacks−4.5Dividends paid−8.4Fiscal year 2020Operating cash flow36.1Buybacks−10.2Dividends paid−8.4Fiscal year 2021Operating cash flow57.8Dividends paid−26.2Fiscal year 2022Operating cash flow34.9Dividends paid−8.9Fiscal year 2023Operating cash flow198.0Capital expenditure−9.6Free cash flow188.4Buybacks−5.4Dividends paid−8.4Fiscal year 2024Operating cash flow173.9Capital expenditure−7.6Free cash flow166.3 −11.7%Buybacks−12.4Dividends paid−10.5Fiscal year 2025Operating cash flow65.4Capital expenditure−7.4Free cash flow58.0 −65.1%Buybacks−76.3Dividends paid−15.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 33.6 19.3 86.8 36.6 36.1 57.8 34.9 198.0 173.9 65.4
Capital expenditure −11.9 −11.8 n/a n/a n/a n/a n/a −9.6 −7.6 −7.4
Free cash flow 21.7 7.5 n/a n/a n/a n/a n/a 188.4 166.3 58.0
Growth −65.4% −11.7% −65.1%
Buybacks n/a n/a −15.4 −4.5 −10.2 n/a n/a −5.4 −12.4 −76.3
Dividends paid −9.0 −9.1 −8.5 −8.4 −8.4 −26.2 −8.9 −8.4 −10.5 −15.3

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash49.2Shareholders’ equity433.4Fiscal year 2017Cash50.0Shareholders’ equity482.3Fiscal year 2018Cash91.7Shareholders’ equity525.9Fiscal year 2019Cash90.1Shareholders’ equity597.3Fiscal year 2020Cash95.7Shareholders’ equity636.3Fiscal year 2021Cash108.3Shareholders’ equity682.5Fiscal year 2022Cash122.9Shareholders’ equity766.2Fiscal year 2023Cash145.0Shareholders’ equity840.8Fiscal year 2024Cash178.3Shareholders’ equity911.0Fiscal year 2025Cash193.2Shareholders’ equity910.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 49.2 50.0 91.7 90.1 95.7 108.3 122.9 145.0 178.3 193.2
Shareholders’ equity 433.4 482.3 525.9 597.3 636.3 682.5 766.2 840.8 911.0 910.1

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
13.8% 13.1% 15.2% 16.0% 16.2% 16.1% 16.8% 18.0% 18.6% 18.8%
3.0% 2.7% 3.2% 4.0% 2.8% 3.3% 3.9% 3.6% 3.5% 3.5%
3.0% 2.7% 3.3% 4.0% 2.8% 3.3% 3.9% 4.0% 4.2% 4.0%
1.8% 1.9% 2.4% 2.9% 2.2% 2.4% 2.9% 2.9% 3.1% 2.9%
0.8% 0.3% n/a n/a n/a n/a n/a 6.6% 5.9% 2.0%
Spending
10.7% 10.3% 12.0% 12.0% 13.3% 12.7% 13.0% 14.2% 15.1% 15.1%
0.4% 0.4% n/a n/a n/a n/a n/a 0.3% 0.3% 0.3%
40.2% 29.3% 27.1% 27.1% 23.8% 27.6% 26.7% 26.4% 25.9% 26.4%
Returns
11.1% 11.4% 12.3% 13.7% 8.8% 10.2% 11.6% 9.9% 9.6% 9.2%
7.0% 7.3% 8.0% 8.8% 5.5% 6.5% 8.1% 7.0% 6.7% 6.2%
Balance and payout
36.8% 35.5% 34.7% 36.3% 37.3% 37.0% 30.3% 29.3% 29.9% 32.6%
18.8% 16.6% 13.1% 10.3% 15.0% 37.5% 10.0% 10.1% 12.1% 18.3%
41.7% 121.4% n/a n/a n/a n/a n/a 7.3% 13.8% 157.7%