What is PC Connection's net debt?

PC Connection (CNXN) reported net debt of -$188.88M in Q1 2026.

How has PC Connection's net debt changed year-over-year?

PC Connection's net debt decreased by 5.3% year-over-year, from -$179.42M to -$188.88M.

What is the long-term trend for PC Connection's net debt?

Over 5 years (2020 to 2025), PC Connection's net debt has grown at a 18.5% compound annual growth rate (CAGR), from -$82.1M to -$191.43M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

PC Connection CNXN Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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-0.4×—

ANI PharmaceuticalsANIP

-0×-2.5×

Global Net LeaseGNL

-0.2×-0.1×

Healthcare Services GroupHCSG

-1.3×-22.6×

Global PartnersGLP

1.7×+0.2×

Ivanhoe ElectricIE

-19.6×—

Other financials

Income statement

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Revenue$721.9M+3.0%

Gross profit$132.7M+4.3%

Operating income$20.2M+39.3%

Net income$17.2M+27.8%

EPS (diluted)$0.68+33.3%

Balance sheet

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Cash & equivalents$196.3M+7.6%

Total debt$7.4M+143%

Total equity$921.7M+5.1%

Total assets$1.4B+14.2%

Cash flow

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Operating cash flow$14.3M+127%

CapEx$2.0M+16.0%

Free cash flow$12.3M+123%

Valuation

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Market cap$1.78B-8.7%

Enterprise value$1.59B-10.5%

P/E20.3×-2.0×

P/S0.6×-0.1×

Profitability

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Gross margin18.8%+0.4pp

Operating margin3.6%+0.2pp

Net margin3%0.0pp

FCF margin4.3%+2.3pp

Returns & leverage

See full

Return on equity9.7%-0.4pp

Debt / equity0×0.0×

Current ratio2.7×-0.5×

Where this comes from

Calculated from PC Connection’s reported figures.

$7.4Mtotal debt−$196.3Mcash and equivalents=-$188.88M

The official record: PC Connection’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is PC Connection's net debt?: PC Connection (CNXN) reported net debt of -$188.88M in Q1 2026.
How has PC Connection's net debt changed year-over-year?: PC Connection's net debt decreased by 5.3% year-over-year, from -$179.42M to -$188.88M.
What is the long-term trend for PC Connection's net debt?: Over 5 years (2020 to 2025), PC Connection's net debt has grown at a 18.5% compound annual growth rate (CAGR), from -$82.1M to -$191.43M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.