MARKETS / NASDAQ / CNXN

NASDAQ · WHOLESALE-COMPUTERS & PERIPHERAL EQUIPMENT & SOFTWARE · LARGE CAP

PC Connection Inc. CNXN

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$2.9B

▲ 2.5% YoY

Net income

$83.7M

▼ 3.9% YoY

Free cash flow

$58.0M

▼ 65.1% YoY

In brief

What this company does

The company provides a range of IT solutions, from the desktop to the cloud, including computer systems, data center solutions, security, artificial intelligence, software and peripheral equipment, networking communications, and other products and accessories that it develops internally and secures from manufacturers, distributors, and other suppliers. As of December 31, 2025, the company employed 2,525 persons on a full-time equivalent basis. It operates through three segments: Connection Enterprise Solutions, serving large enterprise customers; Connection Business Solutions, serving small- to medium-sized businesses; and Connection Public Sector Solutions, serving federal, state, and local government and educational institutions. Through a custom-designed web-based system, its Enterprise Solutions segment offers larger corporate customers a method of sourcing, evaluating, purchasing, and tracking IT products and services. Its Business Solutions segment targets SMB customers and reaches them through a combination of outbound inside sales, including on-site sales solicitation by business development managers, and internet sales through customized Internet Business Accounts. Its Public Sector Solutions segment targets four market sectors: federal government, higher educational institutions, school grades K-12, and state and local governments. The company was founded in 1982.

Written from the business description in PC CONNECTION INC's annual report to the U.S. Securities and Exchange Commission, filed 24 February 2026. Every sentence was checked against that document before publication.

Growth

USD 2.9B

Revenue, FY2025 · full 17-year series below

Revenue $B Net income $B

FY2025 · Revenue 2.9 · Net income 0.1

Compound annual growth

Revenue

−2.8%

+2.1%

+1.1%

+2.5%

Net income

−2.1%

+8.5%

+6.0%

+9.0%

EPS, diluted

−1.0%

+9.1%

+6.4%

+9.4%

Dividend / share

+2.0%

+0.0%

−1.1%

Returned to shareholders

+117.1%

+37.5%

+24.1%

+28.3%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +2.1% a year over five years — but profit grew faster: net income at +8.5%, earnings per share at +9.1%.

The share count fell from 0.03B to 0.03B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

3 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 3.5% · Net 2.9%

ROE

FY2025 · ROE 9.2%

Gross margin18.8%

Operating margin3.5%

Net margin2.9%

Return on assets6.3%

EBITDAUSD 109.8M

Each USD of equity produced 9 cents of profit this year.

Cash & shareholders

USD 91.6M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 58.0

Net buybacks $M Dividends $M

FY2025 · Dividends 15.3 · Net buybacks 76.3

Dividends paidUSD 15.3M

Net buybacksUSD 76.3M

Share of profit109.4%

Consecutive raises—

USD 15.3M in dividends and USD 76.3M in buybacks — 109% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 1.4B

EquityUSD 910.1M

CashUSD 193.2M

Current ratio2.90×

Equity funds 67% of total assets.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	2.9	2.8	2.9	3.1	2.9	2.6	2.8	2.7	2.9	2.7	2.6	2.5	2.2	2.2	2.1	2.0	1.6
Operating income $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	−0.0
EBITDA $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0
Income tax $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net income $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	−0.0
Free cash flow $B	0.1	0.2	0.2	·	·	·	·	·	0.0	0.0	0.0	0.0	0.0	0.1	−0.0	−0.0	0.0
EPS, diluted $	3.27	3.29	3.15	3.37	2.65	2.12	3.10	2.41	2.04	1.80	1.76	1.61	1.35	1.24	1.07	0.85	−0.05
Dividend / sh $	·	·	·	0.34	1.00	0.32	0.32	0.32	0.34	0.34	0.40	0.40	0.40	0.38	·	·	·
Payout %	18	12	10	10	38	15	10	13	17	19	23	25	29	30	37	·	·
ROE %	9.2	9.9	10.4	12.3	10.6	9.0	14.6	12.8	12.0	11.7	12.5	12.7	11.7	11.7	10.8	9.3	−0.5
Shares out B	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 83 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityWholesale-Computers & Peripheral Equipment & Software

Listed onNASDAQ

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2009