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NASDAQ NMS - GLOBAL MARKET · Electrical Equipment · CIK 0001050377
$88.51
+0.89% · delayed ~15 min
Last price from Oct 22, 2026
$2.23B market value
From PC CONNECTION INC's FY2025 10-K, filed Feb 24, 2026 · read the filing
PC CONNECTION distributes goods wholesale to other businesses. It took in $2.87B last year, which makes it a mid-sized company. Of every dollar it sells, about 3 cents is left as profit.
The financial picture is led by debt, with profitability and growth worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Recent open-market selling by BEFFA NEGRINI DAVID, not under a pre-arranged plan.
$405.3K sold in the last 120 days · Read the filing
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Generally healthy, with a few things to watch.
From PC CONNECTION INC's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Free cash flow
$166.3M → $58.0M
Dividends paid
$10.5M → $15.3M
Cash
$178.3M → $193.2M
Shares in issue
26.3M → 25.2M
Measured against FY2024, from the 10-K filed Feb 24, 2026
Deteriorated: -65.1%
$166.3M to $58.0MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
How the latest move compares (quote delayed ~15 min), and what was published around it
CNXN rose 0.89% on the latest quote. The S&P 500 moved −1.04%. That is 1.9 points above the market.
No filing from CNXN and no news item about it appeared in the last 3 days.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 6 analysts covering this company, as of . Their views, not this site's.
Of 6 analysts publishing on this company, 3 say hold, 1 say sell and 2 say strong sell. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 3 cents of every dollar of sales as profit, earning $83.7M last year.
Barely. Sales were roughly flat, up 2.5%.
It does not appear so. For every $1 it owes, it owns $3.06 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 18 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 23% of the cash its operations generated. It has paid in each of the last 12 years.
GoodFigures from the FY2025 annual filing
Last year it earned $83.7M and generated $65.4M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 24, 2026Filing for FY2025 | FY202410-K · Feb 24, 2026Filing for FY2024 | FY202310-K · Feb 24, 2026Filing for FY2023 | FY202210-K · Mar 6, 2023Filing for FY2022 | FY202110-K · Mar 14, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $2.87B | $2.80B | $2.85B | $3.12B | $2.89B | +2.5% |
| Cost of revenue | $2.33B | $2.28B | $2.34B | $2.60B | $2.43B | +2.2% |
| Gross profit | $539.3M | $519.8M | $511.7M | $526.2M | $464.6M | +3.8% |
| Gross marginGross profit ÷ revenueWhat is this? | 18.8% | 18.6% | 18.0% | 16.8% | 16.1% | +0.2 pts |
| Selling, general and administrative | $434.0M | $422.3M | $405.9M | $405.6M | $368.1M | +2.8% |
| Operating income | $99.3M | $97.1M | $103.2M | $120.6M | $96.5M | +2.3% |
| Operating marginOperating income ÷ revenueWhat is this? | 3.5% | 3.5% | 3.6% | 3.9% | 3.3% | −0.0 pts |
| Income before tax | $113.7M | $117.5M | $113.1M | $121.6M | $96.5M | −3.2% |
| Net income | $83.7M | $87.1M | $83.3M | $89.2M | $69.9M | −3.9% |
| Net marginNet income ÷ revenueWhat is this? | 2.9% | 3.1% | 2.9% | 2.9% | 2.4% | −0.2 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $3.32 | $3.31 | $3.16 | $3.39 | $2.66 | +0.2% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Sold on the open market — 7,925 shares at $86.56 ($686.0K)
Holds 6,906,462 shares after this filing.
Sold on the open market
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Had a director or senior officer leave or join
Read the filingQuarterly report for Q2 FY2026
Revenue +12.4% · Operating income +39.2% · Profit +33.8% — against Q2 FY2025
Read the filingWrite down why you are following PC CONNECTION INC, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
PC Connection, Inc. (CNXN) to Release Third Quarter Results for 2026
Yahoo ·
Matt Zafirovski Joins Connection as President and Chief Operating Officer
Yahoo ·
Connection Appoints Matt Zafirovski President, COO, Effective Oct. 12
Benzinga ·
1 Surging Stock with Impressive Fundamentals and 2 That Underwhelm
Yahoo ·
A Look Back at IT Distribution & Solutions Stocks’ Q2 Earnings: Connection (NASDAQ:CNXN) Vs The Rest Of The Pack
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from CNXN's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 24, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 7.3 | 4/8 | 10-K, filed Feb 24, 2026 |
| FY2024 | 6.0 | 6/8 | 10-K, filed Feb 24, 2025 |
| FY2023 | 6.0 | 6/8 | 10-K, filed Mar 7, 2024 |
| FY2022 | 7.3 | 7/8 | 10-K, filed Mar 6, 2023 |
| FY2021 | 7.3 | 5/8 | 10-K, filed Mar 14, 2022 |
| FY2020 | 6.0 | 4/8 | 10-K, filed Mar 16, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
4 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
8.73
In the safe zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Changed: +45.3%
$10.5M to $15.3MCritical
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Improved: +8.4%
$178.3M to $193.2MNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -4.1%
26.3M to 25.2MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Jul 29, 2026 — read it.
Improved: +39.2%
$30.9M to $43.0MSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +33.8%
$24.8M to $33.2MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +34.8%
$0.98 to $1.31Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -33.8%
$186.7M to $123.7MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +12.4%
$759.7M to $854.0MNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +14.3%
$137.8M to $157.5MNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Jul 29, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +112.7%
$20.2M to $43.0MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +92.6%
$17.2M to $33.2MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +92.4%
$0.68 to $1.31Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +18.3%
$721.9M to $854.0MSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +18.6%
$132.7M to $157.5MSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: -37.0%
$196.3M to $123.7MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +2.2 pts
2.8% to 5.0%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +1.5 pts
2.4% to 3.9%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
9 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 2.1% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 22.3x — investors pay $22.3 for each $1 of trailing profit.
This company has not reported enough of the required figures to calculate this score.
Holds 6,906,383 shares after this filing.
Sold on the open market — 6,084 shares at $87.12 ($530.0K)
Holds 6,900,299 shares after this filing.
Sold on the open market — 1,108 shares at $87.64 ($97.1K)
Holds 6,899,191 shares after this filing.
Sold on the open market — 5,000 shares at $81.05 ($405.3K)
Holds 60,875 shares after this filing.
Sold on the open market — 5,570 shares at $92.42 ($514.8K)
Holds 6,922,189 shares after this filing.
Sold on the open market — 1,572 shares at $93.06 ($146.3K)
Holds 6,920,617 shares after this filing.
Sold on the open market — 6,174 shares at $92.07 ($568.4K)
Holds 6,914,443 shares after this filing.
Sold on the open market — 56 shares at $92.95 ($5.2K)
Holds 6,914,387 shares after this filing.
Sold on the open market — 1,799 shares at $84.42 ($151.9K)
Holds 6,940,244 shares after this filing.
Sold on the open market — 3,551 shares at $85.62 ($304.0K)
Holds 6,936,693 shares after this filing.
Sold on the open market — 1,792 shares at $86.04 ($154.2K)
Holds 6,934,901 shares after this filing.
Sold on the open market — 5,124 shares at $85.01 ($435.6K)
Holds 6,929,777 shares after this filing.
Sold on the open market — 2,018 shares at $85.61 ($172.8K)
Holds 6,927,759 shares after this filing.
Sold on the open market — 4,872 shares at $78.76 ($383.7K)
Holds 6,951,455 shares after this filing.
Sold on the open market — 2,270 shares at $79.39 ($180.2K)
Holds 6,949,185 shares after this filing.
Sold on the open market — 4,458 shares at $80.40 ($358.4K)
Holds 6,944,727 shares after this filing.
Sold on the open market — 2,684 shares at $80.88 ($217.1K)
Holds 6,942,043 shares after this filing.
Exercised stock options — 500 shares
Holds 533,758 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 85,704 shares ($7.3M) on or after .
Shares originally obtained via Acquired as an inheritance from an estate.
Filed notice to sell 50,000 shares ($4.2M) on or after .
Shares originally obtained via Vesting of restricted stock unit award.
Filed notice to sell 20,000 shares ($1.7M) on or after .
Shares originally obtained via Restricted Stock.
Filed notice to sell 2,000 shares ($167.7K) on or after .
Shares originally obtained via Shares Purchased Through Employee Stock Purchase Plan.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Published results · Made a Regulation FD disclosure
Held a shareholder vote
Read the filingQuarterly report for Q1 FY2026
Free cash flow turned positive · Operating income +39.3% · Profit +27.8% — against Q1 FY2025
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingProxy statement for a shareholder meeting
Read the filingAnnual report for FY2025
Free cash flow -65.1% · Dividends paid +45.3% · Cash +8.4% — against FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingQuarterly report for Q3 FY2025
Profit -8.6% · Earnings per share -5.2% · Cash +12.1% — against Q3 FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2025
Cash +45.7% · Profit -5.2% · Shares in issue -3.6% — against Q2 FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join · Held a shareholder vote
Read the filingHeld a shareholder vote
Read the filingQuarterly report for Q1 FY2025
Revenue +10.9% · Free cash flow turned negative · Dividends paid +48.3% — against Q1 FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingProxy statement for a shareholder meeting
Read the filingAnnual report for FY2024
Cash +23.0% · Dividends paid +25.2% · Capital spending -21.1% — against FY2023
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingYahoo ·
Primary sources and further research