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Resells IT hardware, software and services to business, government and education customers under the Connection brand.
Resells IT hardware, software and services to business, government and education customers under the Connection brand.
Sells hardware and software from many vendors through account managers and online, earning a small margin on each order, with services and software adding better margin but smaller amounts. Its customers are large numbers of businesses, schools and agencies. Founders Patricia Gallup and David Hall control the company.
Moat: none (scale, distribution). Low-margin IT reselling business with limited differentiation versus larger scaled competitors.
Headquarters: Merrimack, New Hampshire, United States · Founded: 1982 · Employees: 2,525
Size PC Connection (CNXN) is a United States Information Technology company (Information Technology Services) with a market value of $2.00B, the 1790th largest of 3,117 United States companies the cockpit tracks. Shares closed at $79.15 on 6 Nov 2026.
Performance Over six months the shares gained 18.8%, against -11.0% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 9.5% over the last twelve months (peer median +6.0%); the operating margin is 4.2% (peer median 8.0%).
Valuation It trades at 16.6× forward earnings against a peer median of 20.8× (6th cheapest of 17).
Capital Return on invested capital runs 7.4 points above its cost of capital (9.0% WACC).
Short interest Short interest is 2.3% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.15B | $2.87B | $2.80B | $2.85B | $3.12B |
| Revenue growth | — | +3% | -2% | -9% | — |
| Gross profit | $577M | $528M | $507M | $499M | $514M |
| EBITDA | $145M | $117M | $110M | $118M | $133M |
| Net income | $103M | $83.7M | $87.1M | $83.3M | $89.2M |
| Free cash flow | -$20.6M | $58.0M | $166M | $188M | $25.8M |
| Capital expenditure | $8.18M | $7.39M | $7.58M | $9.60M | $9.08M |
| Total debt | $7.83M | $1.79M | $3.36M | $4.91M | $8.16M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| PC Connection CNXN | $2.00B | +19% | +10% | 4% | 16.6× | n/a |
| CDW CDW | $19.6B | +51% | +11% | 7% | 12.9× | 2.6% |
| Insight Enterprises NSIT | $4.64B | +89% | +3% | 6% | 11.7× | 2.9% |
| ePlus PLUS | $2.40B | +2% | +15% | 7% | 16.1× | 4.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CNXN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.9% | -0.8% | 3rd lowest of 21 |
| 6-month return | +18.8% | -11.0% | 7th highest of 21 |
| Distance from 52-week high | -18.3% | -33.4% | 7th highest of 21 |
| Revenue growth (TTM) | +9.5% | +6.0% | 8th highest of 21 |
| Operating margin | 4.2% | 8.0% | 6th lowest of 21 |
| Forward P/E | 16.6× | 20.8× | 6th cheapest of 17 |
| ROIC minus cost of capital | +7.4 pp | -0.0 pp | 7th highest of 18 |
| Net debt / EBITDA | -2.3× | 0.4× | 2nd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PC Connection CNXN | United States | $2.00B | +19% | +10% | 4% | 16.6× | n/a | n/a |
| Atea ATEA.OL | Norway | $1.99B | +6% | +12% | 4% | 16.4× | -5.0% | -1.1% |
| Globant GLOB | United States | $2.05B | +21% | -1% | 10% | 8.0× | -1.2% | +24.7% |
| GMO Internet 9449.T | Japan | $1.94B | -4% | +6% | 21% | 13.4× | n/a | n/a |
| Kainos KNOS.L | United Kingdom | $1.92B | +57% | +17% | 11% | 23.2× | 21.7% | +12.9% |
| Beijing Teamsun Technology 600410.SS | China | $2.09B | -42% | +19% | -9% | n/a | 26.0% | +3.6% |
| Computer Age Management Services CAMS.NS | India | $1.87B | -15% | +9% | 39% | 32.3× | n/a | n/a |
| Glodon 002410.SZ | China | $2.15B | -21% | -4% | 8% | 31.6× | 5.4% | +8.8% |
| Concentrix CNXC | United States | $1.85B | +25% | +3% | 8% | 2.6× | -11.9% | +15.8% |
| Sigma Advanced Systems SIGMAADV.NS | India | $1.83B | +196% | +358% | 12% | n/a | n/a | n/a |
| A10 Networks ATEN | United States | $1.80B | -11% | +12% | 17% | 22.0× | 16.7% | +5.2% |
| Posco Dx 022100.KS | South Korea | $2.24B | -43% | -15% | 3% | 69.6× | 34.8% | +2.2% |
| Hand Enterprise Solutions 300170.SZ | China | $2.24B | -26% | +7% | 6% | 48.8× | 27.4% | +6.5% |
| CETC Cyberspace Security Technology 002268.SZ | China | $1.77B | -11% | -3% | 1% | 45.0× | n/a | n/a |
| Tieto TIETO.HE | Finland | $2.26B | -5% | -17% | 20% | 10.4× | -6.4% | -7.8% |
| Formula Systems (1985) Ltd. Sponsored ADR FORTY | United States | $1.75B | -26% | +1% | 8% | n/a | -3.4% | +6.3% |
| Transportation Telecommunication and Information Development Inc. Ltd. Zhejiang 300469.SZ | China | $1.72B | -18% | -15% | -102% | n/a | n/a | n/a |
| Shift 3697.T | Japan | $1.71B | +61% | +24% | 11% | 19.2× | -2.2% | +28.6% |
| Omnicell OMCL | United States | $1.70B | -15% | +6% | 5% | 19.5× | 11.7% | +5.8% |
| Northking Information Technology 002987.SZ | China | $1.67B | -14% | +1% | 6% | 30.6× | 16.2% | +16.1% |
| Simplex Holdings,Inc 4373.T | Japan | $1.66B | +25% | +20% | 23% | 19.4× | 12.4% | +16.3% |