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
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
FCF
Total debt
Cash
2025
$2.9B
$84M
18.8%
3.5%
$58M
—
$193M
2024
$2.8B
$87M
18.6%
3.5%
$166M
—
$178M
2023
$2.9B
$83M
18.0%
3.6%
$188M
—
$145M
2022
$3.1B
$89M
16.8%
3.9%
—
—
$123M
2021
$2.9B
$70M
16.1%
3.3%
—
—
$108M
2020
$2.6B
$56M
16.2%
2.8%
—
—
$96M
2019
$2.8B
$82M
16.0%
4.0%
—
—
$90M
2018
$2.7B
$65M
15.2%
3.2%
—
—
$92M
2017
$2.9B
$55M
13.1%
2.7%
$8M
—
$50M
2016
$2.7B
$48M
13.8%
3.0%
$22M
—
$49M
2015
—
$47M
—
—
$19M
—
$80M
2014
—
$43M
—
—
—
—
$61M
2013
—
$36M
—
—
$12M
—
$43M
2012
—
$33M
—
—
$60M
—
$40M
2011
—
$29M
—
—
-$16M
—
$5M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$722M
$17M
18.4%
2.8%
$12M
—
$196M
Dec '25
$703M
$21M
19.3%
3.4%
$25M
—
$193M
Sep '25
$709M
$25M
19.6%
4.3%
$62M
—
$188M
Jun '25
$760M
$25M
18.1%
4.1%
$25M
—
$187M
Mar '25
$701M
$13M
18.2%
2.1%
-$54M
—
$182M
Dec '24
$709M
$21M
18.3%
3.2%
$23M
—
$178M
Sep '24
$725M
$27M
18.7%
4.1%
$51M
—
$168M
Jun '24
$736M
$26M
18.5%
4.2%
$37M
—
$128M
Mar '24
$632M
$13M
18.7%
2.1%
$56M
—
$148M
Dec '23
$696M
$24M
18.6%
4.0%
—
—
$145M
Sep '23
$693M
$26M
19.0%
4.6%
$48M
—
$241M
Jun '23
$734M
$20M
17.4%
3.4%
$113M
—
$244M
Mar '23
$728M
$14M
16.8%
2.5%
$18M
—
$135M
Dec '22
$732M
$19M
17.0%
3.3%
—
—
$123M
Sep '22
$776M
$23M
17.6%
4.1%
$22M
—
$116M
Jun '22
$829M
$25M
16.5%
4.2%
—
—
$95M
Mar '22
$788M
$22M
16.3%
3.8%
—
—
$67M
Dec '21
$800M
$22M
15.9%
3.9%
—
—
$108M
Sep '21
$751M
$20M
16.1%
3.6%
—
—
$90M
Jun '21
$704M
$17M
16.5%
3.4%
—
—
$116M
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 21.4× (Jun '26).
The price-to-sales ratio has risen from 0.4× (Mar '23) to 0.6× (Jun '26).
The dividend yield has risen from 0.8% (Mar '23) to 0.9% (Jun '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?
As of Jun '26, Pc Connection Inc traded at a price-to-earnings ratio of about 21.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.