Pulling SEC filings + quote and writing the call…

SCANSOURCE, INC.
Next earnings Aug 19, 2026 · consensus $1.16 EPS, $818M rev
Last earnings +5.8% on 2026-05-07
Cheap, shareholder-friendly distributor with shrinking revenue but expanding gross margin — a fair hold, not a table-pounder.
Sources: SEC EDGAR (CIK 0000918965, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/25/2026, 2:21:22 PM.
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Middling fundamentals and a rich price (~57% above fair value) leave little margin of safety — a wait-and-see.
ScanSource is a low-margin tech distributor in transition. The headline is ugly: FY2025 revenue fell 6.7% to $3.04B, the second straight annual decline from the FY2023 peak of $3.79B, and net income slipped 7.2% to $71.5M. Operating cash flow collapsed 69.8% to $112M, signaling working-capital release is no longer the tailwind it was. Yet underneath, the mix is quietly improving — gross margin expanded to 13.4% from 12.2% the prior year (per MD&A), reflecting the deliberate pivot from hardware reselling toward higher-margin SaaS, connectivity and cloud services through the Intelisys & Advisory segment and the Resourcive/Advantix acquisitions completed in August 2024.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $3.15B | $3.53B | $3.79B | $3.26B | $3.04B |
| Gross profit | $351M | $427M | $449M | $399M | $409M |
| Operating income | $61.5M | $122M | $136M | $90.3M | $85.2M |
| Net income | $10.8M | $88.8M | $89.8M | $77.1M | $71.5M |
| Diluted EPS | $0.42 | $3.45 | $3.54 | $3.06 | $3.00 |
| Net margin | 0.3% | 2.5% | 2.4% | 2.4% | 2.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Executive/director change disclosed; transition risk pending details on role/successor.
FY3Q26 quarterly filing; continued revenue pressure consistent with -6.7% FY trend.
FY3Q26 quarterly filing; continued revenue pressure consistent with -6.7% FY trend.
Officer/director change reported; standard governance update with limited impact.
FY2Q26 results filed amid macro/tariff headwinds on distribution volumes.
FY2Q26 results filed amid macro/tariff headwinds on distribution volumes.
Entered new credit agreement, terminated prior facility — debt refinanced/extended.
Annual meeting vote results disclosed; routine governance, no surprises.
FY1Q26 results — first quarter post-restructuring with ~$20M annualized SG&A savings.
1049 tracked peers · median
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
| 2026-06-01 | Smith Shana C Sr. EVP & Chief Legal Officer | Tax | 1.02K @ $48.13 | $49.3K |
| 2026-03-16 | BAUR MICHAEL L CEO, President, BOD Chair | Sell | 3.83K @ $35.89 | $137K |
| 2026-03-13 | BAUR MICHAEL L CEO, President, BOD Chair | Sell | 21.1K @ $35.76 | $755K |
| 2026-03-13 | BAUR MICHAEL L CEO, President, BOD Chair | Sell | 69.00 @ $36.40 | $2.51K |
| 2026-02-11 | Mathis Charles Alexander Director | Buy | 5.00K @ $35.32 | $177K |
| 2026-02-11 | Mathis Charles Alexander Director | Buy | 1.00K @ $34.63 | $34.6K |
| 2025-12-16 | BAUR MICHAEL L CEO, President, BOD Chair | Sell | 2.18K @ $41.06 | $89.4K |
| 2025-12-16 | BAUR MICHAEL L CEO, President, BOD Chair | Sell | 7.28K @ $41.53 | $302K |
| 2025-12-15 | BAUR MICHAEL L CEO, President, BOD Chair | Sell | 9.46K @ $40.81 | $386K |
| 2025-12-15 | BAUR MICHAEL L CEO, President, BOD Chair | Sell | 100.00 @ $42.05 | $4.21K |
| 2025-12-12 | BAUR MICHAEL L CEO, President, BOD Chair | Sell | 982.00 @ $42.09 | $41.3K |
| 2025-12-11 | Jones Stephen SEVP & CFO | Sell | 5.02K @ $42.30 | $212K |