Company Quick10K Filing
PC Connection
10-Q 2020-03-31 Filed 2020-04-30
10-K 2019-12-31 Filed 2020-02-06
10-Q 2019-09-30 Filed 2019-10-30
10-Q 2019-06-30 Filed 2019-08-01
10-Q 2019-03-31 Filed 2019-05-02
10-K 2018-12-31 Filed 2019-02-07
10-Q 2018-09-30 Filed 2018-11-01
10-Q 2018-06-30 Filed 2018-08-02
10-Q 2018-03-31 Filed 2018-05-09
10-K 2017-12-31 Filed 2018-03-09
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-04
10-Q 2017-03-31 Filed 2017-05-08
10-K 2016-12-31 Filed 2017-03-03
10-Q 2016-09-30 Filed 2016-11-04
10-Q 2016-06-30 Filed 2016-08-05
10-Q 2016-03-31 Filed 2016-05-06
10-K 2015-12-31 Filed 2016-03-03
10-Q 2015-09-30 Filed 2015-11-06
10-Q 2015-06-30 Filed 2015-08-07
10-Q 2015-03-31 Filed 2015-05-08
10-K 2014-12-31 Filed 2015-03-06
10-Q 2014-09-30 Filed 2014-10-31
10-Q 2014-06-30 Filed 2014-08-05
10-Q 2014-03-31 Filed 2014-05-09
10-K 2013-12-31 Filed 2014-03-10
10-Q 2013-09-30 Filed 2013-11-04
10-Q 2013-06-30 Filed 2013-08-02
10-K 2012-12-31 Filed 2013-03-04
10-Q 2012-09-30 Filed 2012-11-07
10-Q 2012-06-30 Filed 2012-08-08
10-Q 2012-03-31 Filed 2012-05-07
10-K 2011-12-31 Filed 2012-02-28
10-Q 2011-09-30 Filed 2011-11-08
10-Q 2011-06-30 Filed 2011-08-11
10-Q 2011-03-31 Filed 2011-05-12
10-K 2010-12-31 Filed 2011-03-11
10-Q 2010-09-30 Filed 2010-11-10
10-Q 2010-06-30 Filed 2010-08-06
10-Q 2010-03-31 Filed 2010-05-11
10-K 2009-12-31 Filed 2010-03-15
8-K 2020-04-29 Earnings, Exhibits
8-K 2020-02-04 Earnings, Exhibits
8-K 2019-12-17 Other Events, Exhibits
8-K 2019-10-30 Earnings, Exhibits
8-K 2019-08-01 Earnings, Exhibits
8-K 2019-05-22 Officers, Shareholder Vote, Exhibits
8-K 2019-05-02 Earnings, Exhibits
8-K 2019-02-28 Officers, Exhibits
8-K 2019-02-07 Earnings, Exhibits
8-K 2018-12-17 Other Events, Exhibits
8-K 2018-11-01 Earnings, Exhibits
8-K 2018-10-18 Earnings, Exhibits
8-K 2018-09-27 Regulation FD, Exhibits
8-K 2018-08-02 Earnings, Exhibits
8-K 2018-05-30 Officers, Shareholder Vote, Exhibits
8-K 2018-05-03 Earnings, Exhibits
8-K 2018-03-26 Officers, Exhibits
8-K 2018-02-15 Earnings, Exhibits

PC Connection Financials

CNXN Metrics, Comps, Filings

Quarterly | Annual

Business

We are a national solutions provider of a wide range of information technology, or IT, solutions. We help our customers design, enable, manage, and service their IT environments. We provide IT products, including computer systems, data center solutions, software and peripheral equipment, networking communications, and other products and accessories that we purchase from manufacturers, distributors, and other suppliers. We also offer services involving design, configuration, and implementation of IT solutions. These services are performed by our personnel and by third-party providers. We have three operating segments, which serve primarily: (a) small- to medium-sized businesses, or SMBs, in our Business Solutions segment, through our PC Connection Sales subsidiary, (b) large enterprise customers, in our Enterprise Solutions segment, through our MoreDirect subsidiary, and (c) federal, state, and local government and educational institutions, in our Public Sector Solutions segment, through our GovConnection subsidiary. Financial results for each of our segments are included in the financial statements attached hereto. We generate sales through (i) outbound telemarketing and field sales contacts by sales representatives focused on the business, educational, healthcare, and government markets, (ii) our websites, and (iii) direct responses from customers responding to our advertising media. We offer a broad selection of over 425,000 products at competitive prices, including products from vendors like Apple, Cisco Systems, Dell, EMC, Hewlett-Packard, Lenovo, Microsoft, and VMWare, and we partner with more than 1,600 suppliers. We typically leverage our state-of-the art logistic capabilities to ship product to customers the same day the order is received.

Since our founding in 1982, we have consistently served our customers’ needs by providing innovative, reliable, and timely service and technical support, and by offering an extensive assortment of branded products through knowledgeable, well-trained sales and support teams. Our strategy’s effectiveness is reflected in the recognition we have received, including being named to the Fortune 1000 and the CRN Solution Provider 500 for eighteen straight years. Over the past few years, we have received numerous awards, including the Microsoft Excellence in Operations—Double Gold Level Award for delivering market-leading operational excellence, as well as being recently named to the CRN Tech Elite 250 for the third year. We believe that our ability to understand our customers’ needs and provide comprehensive and effective IT solutions has resulted in strong brand name recognition and a broad and loyal customer base. We also believe that through our strong vendor relationships we can provide an efficient supply chain and be an effective IT solution provider for our multiple customer segments.

We strive to identify the unique needs of our corporate, government, healthcare, educational, and small business customers, and have designed our business processes to enable our customers to effectively manage their IT systems. We provide value by offering our customers efficient design, integration, deployment, and support of their IT environments. As of December 31, 2018, we employed 823 sales representatives, whose average tenure exceeded six years. Sales representatives are responsible for managing enterprise, commercial, and public sector accounts, as specialization and a deep understanding of unique customer environments are more important than ever. These sales representatives focus on current and prospective customers and are supported by an increasing number of engineering, technical, and administrative staff. We believe that increasing our salesforce productivity is important to our future success, and we have increased our headcount and investments in this area accordingly.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Amazon (AMZN) 862,877 41% 27.1 5% 225,248 163,188 280,522 114,986 11,588 30,726 831,270
CDW (CDW) 18,049 17% 19.8 9% 7,703 6,768 17,570 2,956 710 1,070 21,186
Wayfair (W) 10,553 24% -20.6 -22% 3,008 3,690 6,594 1,570 -654 -519 10,694
Baozun (BZUN) 5,475 0% 4,016 1,821 0 0 0 0 4,961
Insight Enterprises (NSIT) 1,911 15% 9.9 4% 3,982 2,880 7,183 1,054 163 263 2,605
Stitch Fix (SFIX) 1,863 45% 39.4 3% 797 389 1,656 739 26 43 1,711
Nutri System (NTRI) 1,304 53% 14.6 29% 204 58 691 366 59 84 1,222
PC Connection (CNXN) 978 16% 7.0 9% 871 288 2,813 442 81 125 879
Vipshop (VIPS) 728 0% 43,563 26,352 0 0 0 0 -9,310
Overstock.com (OSTK) 396 19% -2.7 -34% 400 231 1,541 298 -137 -115 310
PCM (PCMI) 333 16% 10.5 2% 776 608 2,157 344 19 43 445
LightInTheBox (LITB) 172 0% 104 111 0 0 0 0 132
Youngevity (YGYI) 134 50% -8.6 -14% 141 85 144 73 -20 -16 138
Blue Apron (APRN) 113 0% -7.4 -12% 320 233 361 0 -39 -15 110
Evine Live (EVLV) 47 32% -3.6 -17% 222 187 536 173 -38 -28 100
Netshoes (NETS) 47 0% 994 838 0 0 0 0 25
iMedia Brands (IMBI)
Qurate Retail (QRTEA) 0% 26.1 -2% 16,979 12,210 13,661 0 -286 265 6,927
Reebonz Holding (RBZ) 0% 79 101 0 0 0 0 59
Revolve Group (RVLV) 55% -1.6 10% 222 101 316 173 22 31 -51

Balance Sheet ($MM)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash55405506354405964774365606661807277809147674966286250716910292937098
Accounts Receivable241270295242254270267236256251283261295274293285333331356288388358412378426383450408464401448434501479
Inventory7573776375657060777679719783917199103103971121029110011810710786107105119138176126
PP&E2122232425259227272799272828972830329832343410839404099444648120555962
Assets461471468448484480468447490496501490547521540534603610639570670648686676713692748704781750805828912871
Accounts Payable13513913111213812812695125125125110153109125116162161167114191160178172187165194152201165202204260198
Long-Term Debt
Liabilities192194194169196182177148181176181163207169186171227221247169255219253234256222266212271227279291352288
Stockholders' Equity269276274278288298291299309320320327339352354363376389392402415429433443457470482492510523526538560583
Income Statement ($MM)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue513576553499543561556505557580579560633640631581628681684572676708736671750729762625707659710633741729
Cost of Revenue446505484432471489485439483504503487549556548504545592592490582612637584650633663529599558603534624611
Gross Profit677069677272726774777673848483788389928294979887100961009610710010799117119
R&D
SG&A54555756595657575959596167636363636769677375767578747881838180818686
Tax56446664677588898998999499548785129
Net Income79759109691110711121291213149121413714132111181421132424
Cash Flow ($MM)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating-11-285517-8619814-2224-38721-59623-623-62538-93744018-1537
Cash Investing-2-2-3-2-2-2-2-3-1-3-1-2-2-2-2-3-4-3-2-38-3-12-1-3-4-5-5-6-7-7-7
Cash Financing-3-5-7-10-1710-1-10000-1001-00-110-01-7-01-11-2-0-10-2-1