Climb Global Solutions
Climb Global Solutions' revenue rose 40.1% to $652 million in fiscal 2025. Its operating margin was 4.5%, down from 6.0% a year earlier. It paid out $5 million in dividends and buybacks. The diluted share count rose 1.3%.
Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.
Charts show fiscal years, from the 10-K filings.
What Climb Global Solutions does
Climb Global Solutions is a distributor of information technology products. Its larger Distribution segment, sold under the name Climb Channel Solutions, buys software, maintenance agreements and networking, storage and security products from vendors and sells them to resellers, consultants and systems integrators worldwide. It carries products from software makers such as Adobe, Microsoft, Fortinet and Sophos.
The Distribution segment is the company's main business and accounts for most of its net sales. Its margins are low as a percentage of gross billings and it faces price competition. It says most of the products it sells are digital, or hardware that the vendor ships directly to the end customer. Its smaller Solutions segment, Grey Matter, sells software, hardware and services directly to end users.
The company has grown partly through acquisitions in the United States, the United Kingdom and Ireland. It operates distribution facilities in Millersville, Maryland, and Dublin, Ireland, and was incorporated in Delaware in 1982.
Its biggest risks, as it describes them
- Depending on its vendor partners for products, marketing funds and incentives.
- Lower demand for the IT products it sells from changes in the industry or the economy.
- Sales on a purchase order basis, with no long-term or minimum purchase commitments from customers.
- Competitors offering better or different products and services.
- Selling shares or convertible securities that could dilute existing owners.
Income statement
From fiscal 2016 to 2025, earnings per share grew 15.7% a year and net income 15.3% a year, with the share count about the same.
Returns on capital
Balance sheet
Five years at a glance
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | 29 | 20 | 36 | 30 | 37 |
| Debt incl. finance leases | 0 | 2 | 1 | 0 | 0 |
| Net debt (negative means net cash) | −29 | −18 | −35 | −30 | −37 |
| Net debt to EBITDA | −2.1x | −0.9x | −1.8x | −0.9x | −1.0x |
| Debt to equity | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x |
| Interest coverage | 280.3x | 346.3x | 91.6x | 132.0x | 205.5x |
| Current ratio | 1.2x | 1.1x | 1.1x | 1.0x | 1.1x |
| Quick ratio | 1.2x | 1.1x | 1.1x | 1.0x | 1.1x |
Cash flow
Projections
Project Climb Global Solutions' revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them, or value it with a discounted cash flow model. Every projected figure is yours: it is not a forecast of ours.
Insider trades
Over the 12 months between November 7, 2025 and November 6, 2026, 1 insider bought $75,320 of Climb Global Solutions shares on the open market, and 1 insider sold $684,250.
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 4, 2026 | John R McCarthyDirector | Bought | 4,000 | $18.83 | $75,320 | Form 4 |
| Mar 16, 2026 | Dale Richard FosterChief Executive Officer, Director | Sold | 8,500 | $80.50 | $684,250 | Form 4 |
Indicators
Four widely used measures, worked out from the company's filings. The cutoffs are the ones their authors or users go by, not a verdict of ours.
| Indicator | FY23 | FY24 | FY25 |
|---|---|---|---|
| Piotroski F-score | 5 of 9 | 6 of 9 | 5 of 9 |
| Rule of 40 | — | — | — |
| Altman Z'' | 1.51 | 1.26 | 1.92 |
| Accruals ratio | −10.5% | −3.8% | 1.0% |
The nine F-score tests
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | Pass | Pass | Pass |
| Cash from operations is positive | Pass | Pass | Pass |
| Return on assets rose | Fail | Pass | Fail |
| Cash from operations exceeds net income | Pass | Pass | Fail |
| Debt fell relative to assets | Pass | Pass | Pass |
| Current ratio rose | Fail | Fail | Pass |
| Share count didn't rise | Fail | Fail | Fail |
| Gross margin rose | Pass | Pass | Fail |
| Revenue rose relative to assets | Fail | Fail | Pass |
| F-score | 5 of 9 | 6 of 9 | 5 of 9 |
Compare
Put Climb Global Solutions side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.
Similar companies
| Company | Year | Revenue growth | Operating margin | Free cash flow margin | Return on capital | Net debt to EBITDA | F-score | Compare |
|---|---|---|---|---|---|---|---|---|
| Climb Global Solutions | FY25 | 40.1% | 4.5% | — | 31.6% | −1.0x | 5 | |
| Richardson Electronics | FY26 | 9.4% | 2.8% | −1.6% | — | — | — | Compare |
| ePlus | FY26 | 22.1% | 6.8% | −4.9% | — | — | — | Compare |
| PC Connection | FY25 | 2.5% | 3.5% | 2.0% | — | — | — | Compare |
| ScanSource | FY26 | 6.1% | 3.1% | 3.5% | 8.2% | 0.1x | 8 | Compare |
10 years of figures
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | 418 | 449 | 181 | 209 | 252 | 283 | 304 | 352 | 466 | 652 |
| Revenue growth | 9.4% | 7.5% | −59.6% | 15.1% | 20.5% | 12.3% | 7.7% | 15.7% | 32.3% | 40.1% |
| Gross profit | 27 | 27 | 27 | 30 | 33 | 46 | 54 | 64 | 91 | 105 |
| Research and development | — | — | — | — | — | — | — | — | — | — |
| Operating income | 9 | 8 | 4 | 8 | 5 | 12 | 17 | 16 | 28 | 29 |
| Net income | 6 | 5 | 4 | 7 | 4 | 9 | 12 | 12 | 19 | 21 |
| Diluted EPS (US$) | 1.25 | 1.13 | 0.78 | 1.51 | 1.01 | 2.09 | 2.81 | 2.72 | 4.06 | 4.64 |
| Diluted shares (millions) | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Cash flow | ||||||||||
| Cash from operations | −0 | −2 | 14 | 3 | 38 | 5 | 5 | 42 | 34 | 17 |
| Capital expenditure | 1 | 0 | 0 | 0 | — | — | — | — | — | — |
| Free cash flow | −2 | −2 | 14 | 3 | — | — | — | — | — | — |
| Dividends paid | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Share buybacks | 5 | 3 | 1 | 0 | 4 | 0 | 1 | 2 | 2 | 2 |
| Acquisitions | 0 | 0 | 0 | 0 | 17 | 0 | 8 | 13 | 21 | 0 |
| Stock-based compensation | 2 | 2 | 3 | 1 | 1 | 2 | 2 | 4 | 4 | 5 |
| Balance sheet at fiscal year end | ||||||||||
| Cash and short-term investments | 14 | 6 | 15 | 15 | 29 | 29 | 20 | 36 | 30 | 37 |
| Debt incl. finance leases | — | — | — | — | — | 0 | 2 | 1 | 0 | 0 |
| Total assets | 116 | 105 | 108 | 126 | 166 | 191 | 232 | 335 | 469 | 460 |
| Total liabilities | 76 | 66 | 67 | 81 | 121 | 138 | 171 | 260 | 379 | 344 |
| Shareholders' equity | 38 | 39 | 41 | 45 | 45 | 52 | 61 | 75 | 91 | 117 |
| Margins and ratios | ||||||||||
| Gross margin | 6.5% | 6.0% | 14.8% | 14.3% | 13.1% | 16.2% | 17.8% | 18.2% | 19.6% | 16.1% |
| Operating margin | 2.1% | 1.7% | 2.3% | 4.1% | 2.1% | 4.3% | 5.7% | 4.7% | 6.0% | 4.5% |
| Net margin | 1.4% | 1.1% | 1.9% | 3.2% | 1.8% | 3.2% | 4.1% | 3.5% | 4.0% | 3.3% |
| Free cash flow margin | −0.4% | −0.5% | 7.5% | 1.5% | — | — | — | — | — | — |
| Rule of 40 (growth + FCF margin) | 9.1% | 6.9% | −52.1% | 16.6% | — | — | — | — | — | — |
| Return on capital | — | — | — | — | — | — | 40.1% | 29.6% | 41.3% | 31.6% |
| Return on equity | 15.5% | 13.3% | 8.9% | 15.8% | 9.9% | 18.9% | 22.1% | 18.2% | 22.5% | 20.6% |
| Return on assets | 5.6% | 4.6% | 3.3% | 5.8% | 3.1% | 5.2% | 5.9% | 4.3% | 4.6% | 4.6% |
| Net debt to EBITDA | — | — | — | — | — | −2.1x | −0.9x | −1.8x | −0.9x | −1.0x |