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PC Connection (CNXN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · PC Connection (CNXN) Q3 2026 earnings results →
Q3 2026 Revenue up 23% year over year to $874M · 4¢ of every $1 of revenue kept as net profit · operating margin 4.7%
PC Connection made $874M in Q3 2026 (+23% Y/Y): Notebooks/Mobility $283M, Desktops $121M, Software $117M. Operating margin 4.7%, net earnings $31.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $874.3M in Q3 2026, up 23% year over year and up 2% from the previous quarter. Notebooks/Mobility was the largest line at 32% of revenue. Notebooks/Mobility added $44.0M year over year (up 18%), 27% of the total change.
Gross margin was 18.5%, down 1.0 points from Q3 2025. Operating profit was $41.0M, a 4.7% margin (up 0.4 points year over year). Of the extra revenue versus Q3 2025, 6% reached operating profit, above the 4% margin then. Operating expenses grew 12% against revenue growth of 23%. Net earnings were $31.5M, up 27% year over year. The effective tax rate was 27.6%.
Operating cash flow was $9.7M (down 85% year over year), 31% of net earnings. Non-cash charges added back $2.6M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items used $27.0M. Capital expenditures of $2.1M left free cash flow of $7.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $874M | +23% | 4.7% | $31.5M | $9.7M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $854M | +12% | 5.0% | $33.2M | −$63.8M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $722M | +3% | 2.8% | $17.2M | $14.3M |
| Q4 2025 | 10-K | Feb 24, 2026 | $703M | -0.8% | 3.4% | $20.7M | $27.4M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $709M | -2% | 4.3% | $24.7M | $64.1M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $760M | +3% | 4.1% | $24.8M | $26.3M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $701M | +11% | 2.1% | $13.5M | −$52.4M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
- SNX — 25% of the supplier’s revenue · Stated in 10-K (sentence) · source
- INGM — 21% of the supplier’s revenue · Stated in 10-K (sentence) · source
- MSFT — 13% of the supplier’s revenue · Stated in 10-K (sentence) · source
- HPQ — 13% of the supplier’s revenue · Stated in 10-K (sentence) · source
- DELL — 12% of the supplier’s revenue · Stated in 10-K (sentence) · source
About PC Connection
We are a Fortune 1000 Global Solutions Provider that simplifies IT, guiding the connection between people and technology. Our dedicated account managers partner with customers to design, deploy, and support cutting-edge IT environments using the latest hardware, software, and services. We provide a wide range of IT solutions, from the desktop to the cloud—including computer systems, data center solutions, security, artificial intelligence, or AI, software and peripheral equipment, networking communications, and other products and accessories that we develop internally and secure from manufacturers, distributors, and other suppliers.
In its own words, from its 10-K, filed Feb 24, 2026.
PC Connection against its Wholesale-Computers & Peripheral Equipment & Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +23% against the peers' median +30%. Operating margin: 4.7% against the peers' median 4.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CNXN PC Connection | Q3 2026 | $874M | +23% | 4.7% |
| SNX TD Synnex | Q3 FY26 | $21.6B | +38% | 3.0% |
| INGM Ingram Micro Holding | Q3 2026 | $15.2B | +21% | 1.9% |
| SCSC Scansource | Q1 FY27 | $962M | +30% | 1.3% |
| PLUS Eplus | Q2 FY27 | $668M | +10% | 8.5% |
| CLMB Climb Global Solutions | Q3 2026 | $220M | +36% | 4.5% |
Source: PC Connection 10-Q on SEC EDGAR · CIK 1050377 · Wholesale-Computers & Peripheral Equipment & Software
13F: who owns CNXN and who is buying
More on CNXN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- PC Connection gross margin by quarter
- PC Connection operating margin by quarter
- PC Connection net income by quarter
- PC Connection free cash flow by quarter
- PC Connection capital expenditures by quarter
- PC Connection Notebooks/Mobility revenue by quarter
- PC Connection Desktops revenue by quarter
- PC Connection Software revenue by quarter