PC Connection, Inc. (CNXN) financial statements: income statement, balance sheet and cash flow

PC Connection, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), PC Connection, Inc. reported revenue of $2.9B (+2.5% year on year) and net income of $83.7M (-3.9% year on year).

Income statement

PC Connection, Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net sales	$2.9B	$2.8B	$2.9B	$3.1B
Cost of sales	$2.3B	$2.3B	$2.3B	$2.6B
Gross profit	$539.3M	$519.8M	$511.7M	$526.2M
Selling, general and administrative expenses	$434.0M	$422.3M	$405.9M	$405.6M
Severance expenses and other charges	$6.0M	—	—	—
Income from operations	$99.3M	$97.1M	$103.2M	$120.6M
Interest income, net	$14.4M	$18.7M	—	—
Other income	$76.0K	$1.7M	—	—
Income before taxes	$113.7M	$117.5M	$113.1M	$121.6M
Income tax provision	($30.0M)	($30.4M)	($29.8M)	($32.4M)
Net income	$83.7M	$87.1M	$83.3M	$89.2M
Basic	$3.28	$3.31	$3.17	$3.40
Diluted	$3.27	$3.29	$3.15	$3.37
Basic	25.5M	26.3M	26.3M	26.3M
Diluted	25.6M	26.5M	26.4M	26.4M

PC Connection, Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net sales	$854.0M	$721.9M	$709.1M	$759.7M
Cost of sales	$696.5M	$589.1M	$570.4M	$621.9M
Gross profit	$157.5M	$132.7M	$138.6M	$137.8M
Selling, general and administrative expenses	$114.5M	$109.5M	$108.4M	$106.9M
Income from operations	$43.0M	$20.2M	$30.3M	$30.9M
Interest income, net	$2.5M	$3.4M	$3.7M	$3.2M
Income before taxes	$45.5M	$23.6M	$34.0M	$34.1M
Income tax provision	($12.4M)	($6.4M)	($9.2M)	($9.3M)
Net income	$33.2M	$17.2M	$24.7M	$24.8M
Basic	$1.31	$0.68	$0.98	$0.98
Diluted	$1.31	$0.68	$0.97	$0.97
Basic	25.2M	25.2M	25.4M	25.4M
Diluted	25.3M	25.3M	25.5M	25.5M

Balance sheet

PC Connection, Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$193.2M	$178.3M	$145.0M	$122.9M
Short-term investments	$213.5M	$264.3M	$152.2M	—
Accounts receivable, net	$648.0M	$611.4M	$606.8M	$610.3M
Inventories, net	$143.6M	$95.1M	$124.2M	$208.7M
Prepaid expenses and other current assets	$22.6M	$15.4M	$16.1M	$11.9M
Total current assets	$1.2B	$1.2B	$1.0B	$953.8M
Property and equipment, net	$46.9M	$52.5M	$56.7M	$59.2M
Right-of-use assets	$1.6M	$3.1M	$4.3M	$7.6M
Goodwill	$73.6M	$73.6M	$73.6M	$73.6M
Intangibles, net	$989.0K	$2.2M	$3.4M	$4.6M
Other assets	$7.0M	$1.1M	$1.7M	$1.1M
Total Assets	$1.4B	$1.3B	$1.2B	$1.1B
Accounts payable	$338.2M	$300.2M	$263.7M	$232.6M
Accrued payroll	$30.9M	$23.3M	$20.4M	$24.1M
Accrued expenses and other liabilities	$51.3M	$47.6M	$43.8M	$53.8M
Total current liabilities	$420.4M	$371.2M	$328.0M	$310.5M
Deferred income taxes	$19.9M	$15.1M	$15.8M	$18.0M
Non-current operating lease liabilities	$498.0K	$1.6M	$3.2M	$5.0M
Total Liabilities	$440.8M	$388.4M	$347.6M	$333.7M
Common stock, $0.01 par value, 100,000 shares authorized at December 31, 2025 and 2024; 29,525 issued and 25,221 outstanding at December 31, 2025 and 29,390 issued and 26,300 outstanding at December 31, 2024	295.0K	294.0K	293.0K	291.0K
Additional paid-in capital	$144.6M	$137.0M	$130.9M	$125.8M
Retained earnings	$905.9M	$837.5M	$760.9M	$686.0M
Accumulated other comprehensive income	$78.0K	$174.0K	$81.0K	—
Treasury stock at cost, 4,304 and 3,090 shares at December 31, 2025 and 2024, respectively	-140.7M	-64.0M	-51.4M	-45.9M
Total Stockholders' Equity	$910.1M	$911.0M	$840.8M	$766.2M
Total Liabilities and Stockholders' Equity	$1.4B	$1.3B	$1.2B	$1.1B

PC Connection, Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$123.7M	$196.3M	$187.8M	$186.7M
Short-term investments	$217.0M	$215.2M	$211.4M	$159.3M
Accounts receivable, net	$726.8M	$661.5M	$616.7M	$637.0M
Inventories, net	$205.1M	$194.3M	$135.0M	$133.5M
Prepaid expenses and other current assets	$21.5M	$23.4M	$23.2M	$22.4M
Total current assets	$1.3B	$1.3B	$1.2B	$1.1B
Property and equipment, net	$45.8M	$46.5M	$48.1M	$48.3M
Right-of-use assets	$7.3M	$7.2M	$1.8M	$2.2M
Goodwill	$73.6M	$73.6M	$73.6M	$73.6M
Intangibles, net	$473.0K	$684.0K	$1.3M	$1.6M
Other assets	$6.3M	$6.4M	$6.7M	$4.5M
Total Assets	$1.4B	$1.4B	$1.3B	$1.3B
Accounts payable	$377.6M	$396.5M	$312.8M	$303.8M
Accrued payroll	$25.0M	$28.1M	$30.5M	$23.4M
Accrued expenses and other liabilities	$46.8M	$52.6M	$40.8M	$41.1M
Total current liabilities	$449.3M	$477.2M	$384.1M	$368.3M
Deferred income taxes	$19.0M	$19.7M	$18.3M	$15.0M
Non-current operating lease liabilities	$6.7M	$6.4M	$437.0K	$634.0K
Total Liabilities	$475.0M	$503.3M	$402.8M	$384.5M
Common stock	$296.0K	$296.0K	$295.0K	$294.0K
Additional paid-in capital	$149.5M	$146.6M	$143.4M	$141.4M
Retained earnings	$946.2M	$918.1M	$889.0M	$868.0M
Accumulated other comprehensive (loss) income	($208.0K)	($88.0K)	$85.0K	($53.0K)
Treasury stock, at cost	($143.2M)	($143.2M)	($130.0M)	($124.8M)
Total Stockholders' Equity	$952.6M	$921.7M	$902.7M	$884.8M
Total Liabilities and Stockholders' Equity	$1.4B	$1.4B	$1.3B	$1.3B

Cash flow statement

PC Connection, Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$83.7M	$87.1M	$83.3M	$89.2M
Depreciation and amortization	$11.7M	$13.0M	$12.7M	$12.0M
Adjustments to credit losses reserve	$1.9M	$1.9M	$1.8M	$3.3M
Stock-based compensation expense	$9.3M	$8.5M	$7.0M	$5.7M
Deferred income taxes	$4.8M	($777.0K)	($2.1M)	($1.3M)
Amortization of discount on short-term investments, net	($569.0K)	($4.2M)	($1.5M)	—
Gain on sale of short-term investments	($76.0K)	—	—	—
Loss on disposal of fixed assets	$44.0K	$58.0K	$572.0K	$17.0K
Accounts receivable	($38.4M)	($6.5M)	$1.6M	($6.0M)
Inventories	($48.5M)	$29.1M	$84.5M	($2.1M)
Prepaid expenses and other current assets	($4.3M)	—	($8.5M)	($1.9M)
Other non-current assets	($4.1M)	$618.0K	($659.0K)	($145.0K)
Accounts payable	$38.1M	$36.5M	$31.1M	($49.1M)
Accrued expenses and other liabilities	$10.7M	$6.0M	($11.8M)	($14.7M)
Net cash provided by operating activities	$65.4M	$173.9M	$198.0M	$34.9M
Purchases of short-term investments	($264.1M)	($358.3M)	($150.6M)	—
Proceeds from sale of short-term investments	$108.8M	—	—	—
Maturities of short-term investments	$205.6M	$250.6M	—	—
Purchases of property and equipment	($7.4M)	—	—	—
Net cash provided by (used in) investing activities	$42.8M	($115.3M)	($160.2M)	($9.1M)
Proceeds from short-term borrowings	$732.0K	$26.1M	$88.2M	$36.5M
Repayment of short-term borrowings	($732.0K)	($26.1M)	($88.2M)	($36.5M)
Purchase of treasury shares	-76.3M	-12.4M	-5.4M	—
Payments for excise tax on treasury purchases	($36.0K)	—	—	—
Dividend payments	($15.3M)	($10.5M)	($8.4M)	($8.9M)
Issuance of stock under Employee Stock Purchase Plan	$1.2M	$1.1M	$1.1M	—
Payment of payroll taxes on stock-based compensation through shares withheld	-3.0M	-3.4M	-3.0M	-2.2M
Net cash used in financing activities	($93.4M)	($25.2M)	($15.7M)	($11.2M)
Increase in cash and cash equivalents	$14.9M	$33.4M	$22.0M	$14.6M
Cash and cash equivalents, beginning of year	$178.3M	$145.0M	$122.9M	$108.3M
Cash and cash equivalents, end of year	$193.2M	$178.3M	—	—
Accrued purchases of property and equipment	$85.0K	$200.0K	$90.0K	$192.0K
Accrued purchase of treasury shares	58.0K	240.0K	—	—
Accrued excise tax on treasury purchases	$678.0K	$36.0K	$54.0K	—
Income taxes paid	$29.7M	$29.3M	$41.7M	$33.7M

PC Connection, Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$50.4M	$17.2M	$63.0M	$38.3M
Depreciation and amortization	$5.5M	$2.8M	$8.9M	$6.0M
Adjustments to credit losses reserve	$1.8M	$239.0K	$1.2M	$1.1M
Stock-based compensation expense	$5.3M	$2.6M	$7.1M	$4.7M
Deferred income taxes	($848.0K)	($166.0K)	$3.2M	—
Amortization of discount on short-term investments, net	($1.4M)	($889.0K)	($1.6M)	($1.7M)
Loss on disposal of fixed assets	$74.0K	$50.0K	$30.0K	$20.0K
Accounts receivable	($80.6M)	($13.7M)	($6.5M)	($26.7M)
Inventories	($61.5M)	($50.7M)	($40.0M)	($38.4M)
Prepaid expenses and other current assets	$1.1M	($775.0K)	($4.9M)	($4.1M)
Other non-current assets	$640.0K	$574.0K	($3.8M)	($1.6M)
Accounts payable	$39.3M	$58.1M	$11.9M	$3.4M
Accrued expenses and other liabilities	($9.3M)	($1.1M)	($485.0K)	($6.9M)
Net cash used in operating activities	($49.5M)	$14.3M	$38.0M	($26.1M)
Purchases of short-term investments	($105.7M)	($54.3M)	($155.6M)	($52.4M)
Maturities of short-term investments	$103.2M	$53.2M	$101.3M	$50.0M
Purchases of property and equipment	($3.9M)	($2.0M)	($5.2M)	($3.3M)
Net cash (used in) provided by investing activities	($6.3M)	($3.0M)	$49.3M	$103.1M
Purchase of common stock for treasury shares	-2.5M	-2.5M	-65.5M	-60.5M
Payments for excise tax on purchase of common stock for treasury shares	-678.0K	—	-36.0K	-36.0K
Dividend payments	($10.1M)	($5.0M)	($11.5M)	($7.7M)
Issuance of common stock under Employee Stock Purchase Plan	$602.0K	—	$619.0K	$619.0K
Payment of payroll taxes on stock-based compensation through shares withheld	-971.0K	-671.0K	-1.3M	-918.0K
Net cash used in financing activities	($13.6M)	($8.2M)	($77.8M)	($68.5M)
(Decrease) increase in cash and cash equivalents	($69.5M)	$3.0M	$9.5M	$8.4M
Cash and cash equivalents, beginning of period	$193.2M	$193.2M	$178.3M	$178.3M
Cash and cash equivalents, end of period	$123.7M	$196.3M	$187.8M	$186.7M
Accrued purchases of property and equipment	$111.0K	$278.0K	$866.0K	$346.0K

PC Connection, Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.