15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 2.1% per year over the past 5 years.
Net income has grown faster than revenue (8.5% vs 2.1% per year).
Operating margin has been roughly flat, at 3.5% in the latest year.
Free cash flow has declined 44.5% per year over the past 5 years.
Shareholder returns
Dividends have been paid for 10 consecutive years, consuming 18.3% of earnings and 26.4% of free cash flow.
The dividend has grown 12.7% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$2.9B
$84M
18.8%
3.5%
9.2%
6.2%
$58M
—
$193M
2024
$2.8B
$87M
18.6%
3.5%
9.6%
6.7%
$166M
—
$178M
2023
$2.9B
$83M
18.0%
3.6%
9.9%
7.0%
$188M
—
$145M
2022
$3.1B
$89M
16.8%
3.9%
11.6%
8.1%
—
—
$123M
2021
$2.9B
$70M
16.1%
3.3%
10.2%
6.5%
—
—
$108M
2020
$2.6B
$56M
16.2%
2.8%
8.8%
5.5%
—
—
$96M
2019
$2.8B
$82M
16.0%
4.0%
13.7%
8.8%
—
—
$90M
2018
$2.7B
$65M
15.2%
3.2%
12.3%
8.0%
—
—
$92M
2017
$2.9B
$55M
13.1%
2.7%
11.4%
7.3%
$8M
—
$50M
2016
$2.7B
$48M
13.8%
3.0%
11.1%
7.0%
$22M
—
$49M
2015
—
$47M
—
—
11.9%
7.3%
$19M
—
$80M
2014
—
$43M
—
—
12.1%
7.9%
—
—
$61M
2013
—
$36M
—
—
11.2%
7.1%
$12M
—
$43M
2012
—
$33M
—
—
11.4%
7.1%
$60M
—
$40M
2011
—
$29M
—
—
10.5%
6.2%
-$16M
—
$5M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Sep '26
$874M
$31M
18.5%
4.7%
3.2%
2.1%
$8M
—
$125M
Jun '26
$854M
$33M
18.4%
5.0%
3.5%
2.3%
-$66M
—
$124M
Mar '26
$722M
$17M
18.4%
2.8%
1.9%
1.2%
$12M
—
$196M
Dec '25
$703M
$21M
19.3%
3.4%
2.3%
1.5%
$25M
—
$193M
Sep '25
$709M
$25M
19.6%
4.3%
2.7%
1.9%
$62M
—
$188M
Jun '25
$760M
$25M
18.1%
4.1%
2.8%
2.0%
$25M
—
$187M
Mar '25
$701M
$13M
18.2%
2.1%
1.5%
1.1%
-$54M
—
$182M
Dec '24
$709M
$21M
18.3%
3.2%
2.3%
1.6%
$23M
—
$178M
Sep '24
$725M
$27M
18.7%
4.1%
3.0%
2.1%
$51M
—
$168M
Jun '24
$736M
$26M
18.5%
4.2%
3.0%
2.0%
$37M
—
$128M
Mar '24
$632M
$13M
18.7%
2.1%
1.5%
1.1%
$56M
—
$148M
Dec '23
$696M
$24M
18.6%
4.0%
2.8%
2.0%
—
—
$145M
Sep '23
$693M
$26M
19.0%
4.6%
3.1%
2.2%
$48M
—
$241M
Jun '23
$734M
$20M
17.4%
3.4%
2.5%
1.7%
$113M
—
$244M
Mar '23
$728M
$14M
16.8%
2.5%
1.8%
1.3%
$18M
—
$135M
Dec '22
$732M
$19M
17.0%
3.3%
2.5%
1.7%
—
—
$123M
Sep '22
$776M
$23M
17.6%
4.1%
3.1%
2.0%
$22M
—
$116M
Jun '22
$829M
$25M
16.5%
4.2%
3.5%
2.3%
—
—
$95M
Mar '22
$788M
$22M
16.3%
3.8%
3.1%
2.0%
—
—
$67M
Dec '21
$800M
$22M
15.9%
3.9%
3.3%
2.1%
—
—
$108M
Valuation over time
How the market has priced CNXN against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 12.7× (Mar '23) to 26.2× (Nov '26).
The price-to-sales ratio has risen from 0.4× (Mar '23) to 0.8× (Nov '26).
The dividend yield has fallen from 0.8% (Mar '23) to 0.7% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is CNXN growing its revenue and profit?
Over the past 5 years, Pc Connection Inc's revenue has grown 2.1% per year, and net income grown 8.5% per year. These are computed facts, not advice.
How much debt does CNXN have?
As of FY2025, Pc Connection Inc reported — of total debt against $193M of cash.
What is CNXN's profit margin?
In FY2025, gross margin was 18.8%, operating margin 3.5%, and net margin 2.9%.
What is CNXN's P/E ratio?
Pc Connection Inc's P/E (TTM) is 21.37 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the CNXN stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 26.2× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.