PC Connection, Inc. logo CNXN - PC Connection, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
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AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 65% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Strong
Trading 76.6% above fair value
Current Price $86.60
Bear Case $39.24 54.7% downside ($39.24 - $86.60) / $86.60 = -54.7% $3.27 × 12x P/E
Fair Value $49.05 43.4% downside ($49.05 - $86.60) / $86.60 = -43.4% $3.27 × 15x P/E
Bull Case $58.86 32.0% downside ($58.86 - $86.60) / $86.60 = -32.0% $3.27 × 18x P/E

Adjust Assumptions

15.0x
3.27$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 26.5x

Plain-Language Summary

Applying a 15x P/E to adjusted EPS of $3.27, the base-case value is $49.05 per share.

Key Risks

  • Growth DCF inappropriate — terminal value assumptions dominate
  • EV/EBITDA misleading for regulated businesses where capex is mandated
  • Regulatory risk is a fat tail not visible in normal multiples