Revenue growth reaccelerated sharply to 17.3% in Q4 2026, driving operating income growth of 43.5% and demonstrating meaningful operating leverage as gross margin expanded to a period-high of 13.8%.
ScanSource, Inc. (SCSC) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 | Jun'97 | Jun'96 |
|---|
| Sales/Revenue | 3.23B | 3.04B | 3.26B | 3.79B | 3.53B | 3.15B | 3.05B | 3.87B | 3.85B | 3.57B | 3.54B | 3.22B | 2.91B | 2.88B | 3.02B | 2.67B | 2.11B | 1.85B | 2.18B | 1.99B | 1.67B | 1.47B | 1.19B | 991.19M | 841.89M | 630.74M | 497.42M | 297.7M | 182.8M | 93.9M | 55.7M |
| Revenue Growth % | 6.09% | -6.72% | -13.94% | 7.3% | 12.03% | 3.38% | -21.31% | 0.7% | 7.79% | 0.79% | 9.99% | 10.47% | 1.27% | -4.59% | 13.08% | 26.08% | 14.45% | -15.05% | 9.49% | 19.29% | 13.38% | 23.24% | 20.27% | 17.73% | 33.48% | 26.8% | 67.09% | 62.86% | 94.68% | 68.58% | 62.87% |
| Cost of Goods Sold | 2.79B | 2.63B | 2.86B | 3.34B | 3.1B | 2.8B | 2.69B | 3.42B | 3.41B | 3.18B | 3.18B | 2.89B | 2.61B | 2.58B | 2.71B | 2.39B | 1.9B | 1.64B | 1.95B | 1.78B | 1.5B | 1.32B | 1.06B | 879.31M | 750.31M | 556.92M | 441.19M | 262.8M | 158.6M | 81M | 47.7M |
| COGS % of Revenue | - | 86.56% | 87.76% | 88.14% | 87.92% | 88.87% | 88.33% | 88.31% | 88.66% | 89.25% | 89.96% | 89.84% | 89.67% | 89.82% | 89.98% | 89.71% | 89.65% | 88.7% | 89.54% | 89.4% | 89.89% | 89.81% | 88.95% | 88.71% | 89.12% | 88.3% | 88.69% | 88.28% | 86.76% | 86.26% | 85.64% |
| Gross Profit | 437.35M | 408.65M | 399.05M | 449.24M | 426.52M | 350.72M | 355.57M | 452.57M | 436.13M | 383.6M | 355.44M | 327.09M | 301.1M | 292.87M | 302.02M | 274.31M | 218.93M | 208.85M | 227.62M | 210.67M | 168.35M | 149.73M | 131.78M | 111.88M | 91.58M | 73.83M | 56.24M | 34.9M | 24.2M | 12.9M | 8M |
| Gross Margin % | 13.56% | 13.44% | 12.24% | 11.86% | 12.08% | 11.13% | 11.67% | 11.68% | 11.34% | 10.75% | 10.04% | 10.16% | 10.33% | 10.18% | 10.02% | 10.29% | 10.35% | 11.3% | 10.46% | 10.6% | 10.11% | 10.19% | 11.05% | 11.29% | 10.88% | 11.7% | 11.31% | 11.72% | 13.24% | 13.74% | 14.36% |
| Gross Profit Growth % | - | 2.4% | -11.17% | 5.33% | 21.62% | -1.36% | -21.43% | 3.77% | 13.69% | 7.92% | 8.67% | 8.63% | 2.81% | -3.03% | 10.1% | 25.3% | 4.83% | -8.25% | 8.04% | 25.14% | 12.44% | 13.62% | 17.78% | 22.17% | 24.05% | 31.28% | 61.13% | 44.21% | 87.6% | 61.25% | 66.67% |
| Operating Expenses | 338.73M | 323.45M | 308.73M | 313.35M | 304.36M | 289.23M | 420.54M | 347.41M | 331.44M | 290.15M | 257.27M | 222.98M | 192.49M | 191.22M | 188.39M | 161.2M | 143.15M | 134.73M | 133.65M | 135.34M | 104.76M | 90.98M | 82.52M | 71.36M | 59.77M | 45.03M | 33.36M | 22.6M | 16.5M | 8.4M | 5.3M |
| OpEx % of Revenue | - | 10.64% | 9.47% | 8.27% | 8.62% | 9.18% | 13.8% | 8.97% | 8.62% | 8.13% | 7.27% | 6.93% | 6.61% | 6.65% | 6.25% | 6.05% | 6.77% | 7.29% | 6.14% | 6.81% | 6.29% | 6.19% | 6.92% | 7.2% | 7.1% | 7.14% | 6.71% | 7.59% | 9.03% | 8.95% | 9.52% |
| Selling, General & Admin | 313.18M | 286.93M | 277.43M | 0 | 275.44M | 0 | 0 | 314.52M | 297.48M | 265.18M | 257.27M | 222.98M | 192.49M | 191.22M | 188.39M | 161.2M | 143.15M | 134.73M | 133.65M | 135.34M | 104.76M | 90.98M | 82.52M | 71.36M | 58.93M | 44.86M | 30.68M | 21.4M | 15.6M | 7.9M | 5M |
| SG&A % of Revenue | - | 9.44% | 8.51% | - | 7.8% | - | - | 8.12% | 7.73% | 7.43% | 7.27% | 6.93% | 6.61% | 6.65% | 6.25% | 6.05% | 6.77% | 7.29% | 6.14% | 6.81% | 6.29% | 6.19% | 6.92% | 7.2% | 7% | 7.11% | 6.17% | 7.19% | 8.53% | 8.41% | 8.98% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | 36.51M | 31.3M | 313.35M | 28.91M | 289.23M | 420.54M | 32.89M | -1.28M | 11.14M | -2.19M | 0 | -312K | 520K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 840K | 170K | 2.68M | 1.2M | 900K | 500K | 300K |
| Operating Income | 98.63M | 85.2M | 90.32M | 135.89M | 122.17M | 61.48M | -64.97M | 89.96M | 67.64M | 88.24M | 96.88M | 101.44M | 121.79M | 51.04M | 113.52M | 113.11M | 75.78M | 74.12M | 93.97M | 75.33M | 63.59M | 58.75M | 49.26M | 40.52M | 31.81M | 28.8M | 22.87M | 12.3M | 7.7M | 4.5M | 2.7M |
| Operating Margin % | 3.06% | 2.8% | 2.77% | 3.59% | 3.46% | 1.95% | -2.13% | 2.32% | 1.76% | 2.47% | 2.74% | 3.15% | 4.18% | 1.77% | 3.76% | 4.24% | 3.58% | 4.01% | 4.32% | 3.79% | 3.82% | 4% | 4.13% | 4.09% | 3.78% | 4.57% | 4.6% | 4.13% | 4.21% | 4.79% | 4.85% |
| Operating Income Growth % | - | -5.67% | -33.53% | 11.23% | 98.7% | 194.64% | -172.21% | 33.01% | -23.35% | -8.92% | -4.5% | -16.71% | 138.59% | -55.03% | 0.36% | 49.27% | 2.24% | -21.12% | 24.73% | 18.46% | 8.25% | 19.27% | 21.55% | 27.39% | 10.46% | 25.9% | 85.96% | 59.74% | 71.11% | 66.67% | 68.75% |
| EBITDA | 121.06M | 115.39M | 118.33M | 164.5M | 152.08M | 94.99M | -29.64M | 123.62M | 105.11M | 113.21M | 114.03M | 113.44M | 129.16M | 59.5M | 123.44M | 119.77M | 81.84M | 80.9M | 101.09M | 82.26M | 69.36M | 64.25M | 54.61M | 45.55M | 36.47M | 33.23M | 25.55M | 13.5M | 8.6M | 5M | 3M |
| EBITDA Margin % | 3.75% | 3.79% | 3.63% | 4.34% | 4.31% | 3.01% | -0.97% | 3.19% | 2.73% | 3.17% | 3.22% | 3.52% | 4.43% | 2.07% | 4.09% | 4.49% | 3.87% | 4.38% | 4.65% | 4.14% | 4.16% | 4.37% | 4.58% | 4.6% | 4.33% | 5.27% | 5.14% | 4.53% | 4.7% | 5.32% | 5.39% |
| EBITDA Growth % | 4.91% | -2.48% | -28.07% | 8.17% | 60.1% | 420.49% | -123.98% | 17.61% | -7.16% | -0.72% | 0.52% | -12.17% | 117.08% | -51.8% | 3.06% | 46.35% | 1.16% | -19.97% | 22.89% | 18.6% | 7.95% | 17.67% | 19.89% | 24.91% | 9.73% | 30.06% | 89.27% | 56.98% | 72% | 66.67% | 76.47% |
| D&A (Non-Cash Add-back) | 17.82M | 30.2M | 28.01M | 28.61M | 29.91M | 33.51M | 35.33M | 33.65M | 37.47M | 24.97M | 17.15M | 12M | 7.38M | 8.46M | 9.92M | 6.66M | 6.06M | 6.78M | 7.13M | 6.93M | 5.77M | 5.5M | 5.35M | 5.02M | 4.66M | 4.43M | 2.68M | 1.2M | 900K | 500K | 300K |
| EBIT | 108.54M | 102.41M | 112.87M | 135.89M | 125.15M | 71.26M | 63.35M | 118.89M | 70.07M | 93.45M | 98.47M | 104.11M | 108.61M | 53.8M | 112.85M | 113.61M | 77.21M | 77.83M | 95.69M | 75.33M | 63.31M | 58.75M | 49.26M | 40.52M | 31.81M | 28.8M | 22.87M | 12.3M | 7.7M | 4.8M | 2.8M |
| Net Interest Income | 5.67M | 3.23M | -3.65M | -12.37M | -2.19M | -3.83M | -6.4M | -11.34M | -5.41M | 2.11M | 1.32M | 841K | 1.63M | 1.46M | 1.25M | -511K | -85K | -771K | -3.96M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 12.26M | 11.25M | 9.38M | 7.41M | 4.33M | 3.1M | 5.83M | 1.82M | 3.71M | 5.33M | 3.45M | 2.64M | 2.36M | 2.24M | 2.89M | 1.21M | 1.39M | 1.41M | 1.51M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 6.59M | 8.01M | 13.03M | 19.79M | 6.52M | 6.93M | 12.22M | 13.16M | 9.15M | 3.21M | 2.12M | 1.8M | 731K | 775K | 1.64M | 1.72M | 1.47M | 2.18M | 5.47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 5.12M | 9.2M | 9.52M | -14.04M | -3.54M | -3.95M | -6.81M | -11.1M | -8.08M | 13.26M | -867K | -1.53M | 1.32M | 1.98M | -2.31M | -1.22M | -35K | 1.54M | -3.75M | -6.66M | -1.23M | -798K | -437K | -1.9M | -1.43M | -2.24M | -639K | -400K | -200K | -700K | 400K |
| Pretax Income | 103.74M | 94.4M | 99.84M | 121.85M | 118.62M | 57.53M | -71.78M | 77.91M | 60.92M | 101.5M | 96.01M | 99.91M | 123.11M | 53.03M | 111.21M | 111.89M | 75.74M | 75.65M | 90.22M | 68.67M | 62.08M | 57.95M | 48.82M | 38.62M | 30.38M | 26.56M | 22.23M | 11.9M | 7.5M | 4.1M | 3.1M |
| Pretax Margin % | 3.22% | 3.1% | 3.06% | 3.22% | 3.36% | 1.83% | -2.36% | 2.01% | 1.58% | 2.84% | 2.71% | 3.1% | 4.23% | 1.84% | 3.69% | 4.2% | 3.58% | 4.09% | 4.15% | 3.46% | 3.73% | 3.94% | 4.1% | 3.9% | 3.61% | 4.21% | 4.47% | 4% | 4.1% | 4.37% | 5.57% |
| Income Tax | 24.87M | 22.85M | 22.78M | 33.76M | 29.93M | 12.15M | 7.45M | 20.31M | 27.77M | 32.25M | 32.39M | 34.49M | 41.32M | 18.36M | 36.92M | 38.36M | 26.93M | 27.97M | 34.59M | 25.99M | 21.75M | 21.93M | 18.7M | 16.05M | 11.27M | 10.09M | 8.45M | 4.4M | 2.7M | 1.6M | 1.2M |
| Effective Tax Rate % | 23.97% | 24.2% | 22.82% | 27.7% | 25.23% | 21.11% | -10.38% | 26.07% | 45.58% | 31.77% | 33.74% | 34.52% | 33.56% | 34.63% | 33.2% | 34.29% | 35.55% | 36.97% | 38.34% | 37.84% | 35.03% | 37.84% | 38.3% | 41.55% | 37.09% | 38.01% | 38% | 36.97% | 36% | 39.02% | 38.71% |
| Net Income | 78.87M | 71.55M | 77.06M | 89.81M | 88.8M | 10.79M | -192.65M | 57.6M | 33.15M | 69.25M | 63.62M | 65.42M | 81.79M | 34.66M | 74.29M | 73.52M | 48.81M | 47.69M | 55.63M | 42.63M | 40.11M | 35.73M | 29.98M | 22.57M | 19.94M | 16.46M | 13.79M | 7.5M | 4.8M | 2.5M | 1.9M |
| Net Margin % | 2.44% | 2.35% | 2.36% | 2.37% | 2.52% | 0.34% | -6.32% | 1.49% | 0.86% | 1.94% | 1.8% | 2.03% | 2.81% | 1.2% | 2.46% | 2.76% | 2.31% | 2.58% | 2.56% | 2.15% | 2.41% | 2.43% | 2.52% | 2.28% | 2.37% | 2.61% | 2.77% | 2.52% | 2.63% | 2.66% | 3.41% |
| Net Income Growth % | 10.24% | -7.15% | -14.2% | 1.14% | 722.58% | 105.6% | -434.49% | 73.73% | -52.12% | 8.84% | -2.75% | -20.01% | 135.96% | -53.34% | 1.04% | 50.62% | 2.36% | -14.28% | 30.51% | 6.28% | 12.25% | 19.18% | 32.82% | 13.2% | 21.12% | 19.43% | 83.8% | 56.25% | 92% | 31.58% | 26.67% |
| Net Income (Continuing) | 78.87M | 71.55M | 77.06M | 88.09M | 88.7M | 45.39M | -79.23M | 64.86M | 35.46M | 69.25M | 63.62M | 65.42M | 81.79M | 34.66M | 74.29M | 73.52M | 48.81M | 47.69M | 55.63M | 42.69M | 40.33M | 36.02M | 29.98M | 22.57M | 19.11M | 16.46M | 13.79M | 7.5M | 4.8M | 2.8M | 1.9M |
| Discontinued Operations | 0 | 0 | 0 | 1.72M | 100K | -34.59M | -113.43M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 516K | 910K | 1.09M | 1.07M | 1.67M | 1.44M | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.64 | 3.00 | 3.06 | 3.47 | 3.44 | 1.78 | -3.12 | 2.24 | 1.29 | 2.71 | 2.38 | 2.27 | 2.86 | 1.24 | 2.68 | 2.70 | 1.82 | 1.79 | 2.10 | 1.63 | 1.53 | 1.37 | 1.13 | 0.87 | 0.80 | 0.67 | 0.58 | 0.33 | 0.24 | 0.19 | 0.13 |
| EPS Growth % | 22.15% | -1.96% | -11.82% | 0.87% | 93.26% | 157.05% | -239.29% | 73.64% | -52.4% | 13.87% | 4.85% | -20.63% | 130.65% | -53.73% | -0.74% | 48.35% | 1.68% | -14.76% | 28.83% | 6.54% | 11.68% | 21.24% | 29.89% | 8.75% | 19.4% | 15.52% | 75.76% | 37.5% | 26.32% | 46.15% | 0% |
| EPS (Basic) | - | 3.05 | 3.10 | 3.50 | 3.48 | 1.79 | -3.12 | 2.25 | 1.30 | 2.74 | 2.40 | 2.29 | 2.89 | 1.25 | 2.72 | 2.74 | 1.83 | 1.80 | 2.13 | 1.65 | 1.56 | 1.41 | 1.17 | 0.89 | 0.87 | 0.73 | 0.62 | 0.34 | 0.25 | 0.20 | 0.14 |
| Diluted Shares Outstanding | 21.69M | 23.84M | 25.22M | 25.36M | 25.76M | 25.52M | 25.38M | 25.73M | 25.62M | 25.52M | 26.69M | 28.8M | 28.6M | 27.99M | 27.75M | 27.25M | 26.87M | 26.59M | 26.45M | 26.21M | 26.03M | 25.93M | 25.77M | 24.57M | 24.86M | 24.5M | 23.88M | 22.73M | 20.14M | 14.93M | 14.55M |
| Basic Shares Outstanding | 21.38M | 23.44M | 24.87M | 25.14M | 25.5M | 25.42M | 25.38M | 25.64M | 25.52M | 25.32M | 26.47M | 28.56M | 28.34M | 27.77M | 27.36M | 26.87M | 26.61M | 26.45M | 26.1M | 25.77M | 25.49M | 25.25M | 24.97M | 24.03M | 23.05M | 22.73M | 22.22M | 21.9M | 19.33M | 14M | 14.55M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying SCSC stock.
For fiscal year 2025, ScanSource, Inc. (SCSC) reported total revenue of $3.04B. This represents a 5359.3% increase compared to $55.7M in 1996.
ScanSource, Inc. (SCSC) is profitable, generating $71.5M in net income for the fiscal year ending 2025 with a net profit margin of 2.4%.
ScanSource, Inc. (SCSC) reported an operating income of $85.2M, resulting in an operating profit margin of 2.8%. This margin reflects the operational efficiency of the business before interest and taxes.
ScanSource, Inc. (SCSC) generated $408.6M in gross profit for the year, representing a gross profit margin of 13.4%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
OEM concentration and hardware cyclicality
Metrics are mathematically derived from official filings.
Revenue Growth Reaccelerates Sharply
After four quarters of year-over-year revenue contraction, ScanSource posted a robust 17.3% growth in Q4 2026, suggesting a potential inflection point in the hardware demand cycle.
The sharp reversal from a -21.2% decline in Q4 2024 to a 17.3% increase in Q4 2026 indicates the post-pandemic digestion period for specialty hardware may be concluding. This acceleration appears driven by a recovery in enterprise capital expenditure for barcode, POS, and security systems, though the sustainability of this pace is contingent on broader IT spending trends.
Gross Margin Expansion Driven by Mix
Gross margin expanded to 13.8% in Q4 2026, the highest in the observed period, likely reflecting a favorable mix shift toward the higher-margin Modern Communications & Cloud segment.
The improvement from a trough of 12.6% in Q3 2024 suggests the Intelisys agency model is contributing a larger share of total profit. This structural mix shift is critical, as it provides a higher-margin earnings floor that is less susceptible to hardware pricing pressure, though the overall operating margin remains constrained by the personnel-intensive support model.
Operating Leverage Demonstrated in Recovery
Operating income grew 43.5% year-over-year in Q4 2026 on 17.3% revenue growth, demonstrating meaningful operating leverage as fixed costs are spread over a larger sales base.
The significant outperformance of operating income growth versus revenue growth indicates that SG&A expenses are scaling more efficiently. This suggests management has maintained cost discipline through the downturn, allowing incremental revenue to flow more directly to the bottom line, a positive sign for profitability as the cycle turns.
EPS Growth Outpaces Net Income Growth
Diluted EPS surged 43.5% in Q4 2026, matching the net income growth rate, which indicates the earnings improvement is driven by core operations rather than financial engineering or tax benefits.
The absence of stock-based compensation in the most recent quarter and the consistent tax rate implied by the net margin suggest high-quality earnings. The EPS growth is directly tied to the operational recovery in revenue and margins, providing a clearer picture of the underlying business performance without distortions from non-recurring items.
SG&A Discipline Amidst Revenue Volatility
SG&A expenses as a percentage of revenue have trended down from 9.2% in Q4 2024 to 8.6% in Q4 2026, indicating effective overhead management despite fluctuating sales volumes.
The reduction in SG&A intensity, even as the company invested in the Intelisys platform, suggests a focus on operational efficiency. However, the operating margin of 3.2% remains thin, highlighting that the business model is highly sensitive to volume; any sustained revenue softness could quickly pressure profitability if fixed costs cannot be adjusted proportionally.
Sustainability of Hardware Recovery in Question
The strong Q4 growth follows a period of significant contraction, raising questions about whether this represents a sustainable recovery or merely a temporary restocking cycle in a volatile hardware market.
The historical volatility, with revenue growth swinging from -21.2% to +17.3% over two years, underscores the cyclical nature of the Specialty Technology Solutions segment. Investors should be cautious about extrapolating the recent acceleration, as it may be driven by pent-up demand rather than a fundamental shift in long-term growth rates, especially given the ongoing risks from OEM concentration and potential reseller credit tightening.