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Connection Q4 FY19

Market Info

Reported 2/4/20 after hours

2/5/20 opening price change: -20.32%

Ticker: NASDAQ: CNXN

Shares Outstanding: 26.52M

Market Cap: $1.308B

 

Income Statement (Q4)

  • Q4 Revenue up 1.00% YoY from $709.5M to $716.6M
    • Business Solutions up 04% from $249.7M to $262.3M
    • Enterprise Solutions down 71% from $341.4M to $321.9M
    • Public Sector up 85% from $118.4M to $132.5M
  • Gross Profit up 72% YoY from $106.8M to $116.1M
    • Gross Profit Margin up 115bp from 05% to 16.20%
  • Operating Income up 49% YoY from $26.32M to $29.60M
  • Net Income up 13% YoY from $21.30M to $21.97M
  • Fully-diluted Q4 EPS up 75% YoY from $0.80 to $0.83

Income Statement (FY19)

  • FY19 Revenue up 47% YoY from $2.699B to $2.820B
  • Gross Profit up 78% YoY from $411.1M to $451.3M
    • Gross Profit Margin up 77bp from 23% to 16.00%
  • Operating Income up 68% YoY from $85.69M to $111.97M
  • Net Income up 12% YoY from $64.59M to $82.11M
  • Fully-diluted EPS up 63% YoY from $2.41 to $3.10

Balance Sheet

  • Cash $90.060M
  • Debt N/A
Connection, Inc.
Dec-19 Sep-19 Jun-19 Mar-19 Dec-18 Sep-18
Preliminary / Final/ Final/ Final/ Final/ Final/
Valuation Ratios
Price / Earnings 16.02 12.69 13.06 14.87 12.36 16.34
Price / Book Value 2.19 1.76 1.64 1.8 1.49 2.14
Dividend Yield (%)
Enterprise Value / EBITDA 9.5 7.57 7.8 8.57 6.88 10.72
Enterprise Value / Sales 0.43 0.33 0.32 0.33 0.26 0.37

Source: Factset

 

Report created 2.5.20

With questions or concerns please contact:

Max Shiner – Analyst

Email: mshiner@martinwolf.com Phone: 925.215.2740