PC Connection Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	83.72	87.1	83.27	89.22	69.91
Depreciation & Amortization	11.7	12.98	12.65	11.98	12.2
Loss (Gain) From Sale of Assets	0.04	0.06	0.57	0.02	-0.04
Loss (Gain) From Sale of Investments	0.49	-4.24	-1.52	-	-
Stock-Based Compensation	9.34	8.48	7.02	5.68	4.23
Provision & Write-off of Bad Debts	1.86	1.91	1.85	3.25	3.31
Other Operating Activities	4.84	-0.78	-2.15	-1.31	0.75
Change in Accounts Receivable	-38.45	-6.51	1.6	-6	-1.32
Change in Inventory	-48.51	29.13	84.5	-2.13	-65.69
Change in Accounts Payable	38.08	36.45	31.15	-49.06	14.81
Change in Other Net Operating Assets	2.32	9.29	-20.99	-16.76	19.58
Operating Cash Flow	65.44	173.87	197.95	34.89	57.75
Operating Cash Flow Growth	-62.36%	-12.17%	467.38%	-39.59%	59.99%
Capital Expenditures	-7.39	-7.58	-9.6	-9.08	-10.3
Sale of Property, Plant & Equipment	-	-	-	-	0.07
Investment in Securities	50.22	-107.71	-150.61	-	-
Other Investing Activities	-	-	-	-	1.5
Investing Cash Flow	42.83	-115.29	-160.2	-9.08	-8.73
Short-Term Debt Issued	0.73	26.05	88.2	36.46	-
Total Debt Issued	0.73	26.05	88.2	36.46	-
Short-Term Debt Repaid	-0.73	-26.05	-88.2	-36.46	-
Total Debt Repaid	-0.73	-26.05	-88.2	-36.46	-
Issuance of Common Stock	1.23	1.11	1.09	-	-
Repurchase of Common Stock	-79.31	-15.8	-8.41	-2.24	-1.77
Common Dividends Paid	-15.3	-10.53	-8.41	-	-34.6
Financing Cash Flow	-93.37	-25.22	-15.73	-11.19	-36.37
Net Cash Flow	14.9	33.36	22.02	14.62	12.66
Free Cash Flow	58.05	166.29	188.36	25.81	47.45
Free Cash Flow Growth	-65.09%	-11.71%	629.73%	-45.60%	89.32%
Free Cash Flow Margin	2.02%	5.93%	6.61%	0.83%	1.64%
Free Cash Flow Per Share	2.27	6.27	7.13	0.98	1.80
Cash Interest Paid	-	0.01	0.02	0	-
Cash Income Tax Paid	-	29.3	41.67	33.69	21.47
Levered Free Cash Flow	40.45	145.12	174.34	13.3	38.98
Unlevered Free Cash Flow	40.5	145.19	174.36	13.3	38.98
Change in Working Capital	-46.57	68.35	96.26	-73.94	-32.61

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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