Climb Global Solutions
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Yellow, because the core business holds up but one significant question is open: is the effective margin decline since 2024 a temporary investment phase (Interworks integration, Fortinet ramp-up, IT infrastructure spend) or a structural problem? Red would need more evidence — the balance sheet and liquidity are healthy, there's no debt, no going-concern language, and three straight years of profitable growth. Green is out of reach because of reliability: the no-notice dividend cut, the delayed disclosure of the Fortinet restriction, and the quiet rewording of the SG&A target right at its widest miss are communication patterns that justify extra scrutiny, even though none of them is a standalone solvency risk. That a single analyst covers the stock plays no role in this rating — that's a market-data characteristic, not a quality argument. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Climb Global Solutions is the reliability trap in its purest form: a dependable dividend for years, a management team that answers every analyst question directly, net sales that grew 40 percent in 2025. Yet effective margin has been falling since 2024 (43.5 to 37.5 percent), the dividend was cut without warning in 2026, and ten earnings calls read in full show a pattern of restated rather than openly corrected targets. The balance sheet is clean and the business is growing — but reliability, lately, isn't quite what it used to be. Not investment advice.
Business Model & Growth
Value-added IT distribution with a diversified vendor portfolio (45 vendors generating more than $10 million each in 2026, up from 22 in 2022, per management). Net sales grew 40 percent to $652.5 million in 2025, double digits for three straight years and profitable throughout.
Margin Trend
Effective margin fell from 43.5 percent (2024) to 40.7 percent (2025) to 37.5 percent in the second quarter of 2026 (Form 10-Q filed July 30, 2026). The SG&A ratio ran above the company's own roughly 3 percent target in both quarters of 2026 (3.7 and 3.5 percent), a target cited since 2024. Part of the break is a base effect — management says the year-ago quarter contained a $30 million single transaction — yet earnings per share still decline once adjusted.
Customer Concentration
The top five customers accounted for roughly 55 percent of net sales in 2025, up from 51 percent in 2023 (Form 10-K, Item 1A) — a rising concentration among reseller partners; not existential, but a real and growing dependency.
Balance Sheet & Capital Allocation
Genuinely healthy balance sheet: $56.6 million cash (June 30, 2026), zero debt, undrawn $50 million credit facility. At the same time, a regime change: the dividend was suspended starting Q1 2026 without lead time, and management is now openly considering debt for future acquisitions.
Management Communication
Ten earnings calls read in full (2024-2026) reveal a recurring pattern: a stricter SG&A target was revealed and then missed by the widest margin in the whole series the very next quarter; a Fortinet sales restriction stayed out of two straight earnings calls; vendor growth forecasts (Darktrace, Fortinet) were quietly walked back. Hard, dated commitments (the ERP rollout) were kept, by contrast.
Valuation
Market capitalization roughly $510 million (August 25, 2026), price-to-sales roughly 0.7, EV/EBITDA roughly 11.9 — neither a bargain nor a growth premium. Only one analyst covers the stock with a published price target ($32.67), a statistically thin basis.
Worth Noting
This stock came onto our radar through Climb's first Investor Day at the Nasdaq MarketSite (July 2026) and the target announced there — more than doubling adjusted EBITDA from 2025 to 2030 — a five-year promise on a metric the company itself doesn't reconcile to GAAP net income.
Naming note: the company traded as Wayside Technology Group, Inc. (same CIK, 0000945983) through October 2022, and as Programmers Paradise Inc. before that (through 2006). Older references under those names refer to the same company.
Data as of: balance sheet and earnings figures come from the fiscal 2025 Form 10-K (filed February 27, 2026) and the Form 10-Q for the quarter ended June 30, 2026 (filed July 30, 2026). Price, market cap, and analyst data are as of August 25, 2026. Some data feeds still showed an expected forward dividend at research time, even though payments have been suspended since the first quarter of 2026 per the annual report — the SEC filing governs.
Stock Watch
This analysis is as of August 28, 2026. Stock Watch will tell you what's changed at CLMB since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 16.70 $ to 143.40 $ · Last price: 27.80 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Electronics & Computer Distribution
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Climb Global Solutions CLMB | 0.5 | – | 12.3 | 15.8 | – | 40.1 | -14.6 |
| Synnex Corporation SNX | 21.4 | 17.9 | 11.0 | 7.0 | 2.7 | 6.9 | 79.9 |
| Arrow Electronics Inc ARW | 11.5 | 14.3 | 9.4 | 11.3 | 4.2 | 10.5 | 80.6 |
| Avnet Inc AVT | 7.6 | 33.7 | 12.8 | 10.4 | 3.1 | -6.6 | 81.7 |
| Insight Enterprises Inc NSIT | 4.5 | – | 12.1 | 22.1 | 5.2 | -5.2 | 29.5 |
| PC Connection Inc CNXN | 2.1 | – | 12.9 | 18.9 | – | 2.5 | 39.1 |
| ScanSource Inc SCSC | 1.2 | 17.1 | 8.9 | 13.6 | 3.1 | -6.7 | 31.2 |
| Median of companies shown | 4.5 | 17.5 | 12.1 | 13.6 | 3.1 | 2.5 | 39.1 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 418 | 9 | 6 | 0.33 | -1 | 38 | 114 |
| 2017 | 449 | 8 | 5 | 0.29 | -2 | 39 | 103 |
| 2018 | 181 | 4 | 4 | 0.20 | 14 | 41 | 108 |
| 2019 | 209 | 8 | 7 | 0.38 | 3 | 45 | 126 |
| 2020 | 252 | 5 | 4 | 0.26 | 38 | 45 | 166 |
| 2021 | 283 | 12 | 9 | 0.54 | 5 | 52 | 191 |
| 2022 | 304 | 18 | 12 | 0.70 | 5 | 61 | 232 |
| 2023 | 352 | 16 | 12 | 0.70 | 42 | 75 | 335 |
| 2024 | 466 | 28 | 19 | 1.04 | 34 | 91 | 469 |
| 2025 | 653 | 29 | 21 | 1.18 | 17 | 117 | 460 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.38 | 32.10 | 162 | 51.50 | 4.20 | 16 | 14 |
| 2025: Q1 | 0.20 | 33.10 | 138 | 49.40 | 2.70 | 9 | 8 |
| 2025: Q2 | 0.33 | 76.00 | 159 | 73.00 | 3.70 | -2 | -3 |
| 2025: Q3 | 0.26 | -12.90 | 161 | 35.20 | 2.90 | 22 | 22 |
| 2025: Q4 | 0.38 | 1.20 | 194 | 19.80 | 3.60 | -12 | -12 |
| 2026: Q1 | 0.18 | -10.60 | 182 | 32.10 | 1.80 | 17 | 16 |
| 2026: Q2 | 0.30 | -9.10 | 174 | 9.40 | 3.20 | 15 | 15 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 6 of our scanner strategies — each hit links to the scanner.
Growth
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 1.40 | 1.32 – 1.49 | 733 | 10.5% | 3 |
| 12/31/2027 | 1.75 | 1.46 – 1.93 | 801 | 24.5% | 3 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 1.1% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $41.0M |
|---|---|
| Market cap | $507.0M |
| Free cash flow in year ten | $45.8M |
| Terminal value as a share of market value | 47.6% |
For comparison: over the past five years free cash flow shrank by 17.4% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Climb Global Solutions setzt laut Geschäftsbericht KI-Technologie in eigenen Angeboten und im Geschäftsbetrieb ein, verkauft aber keine eigenen KI-Produkte und weist keinen KI-Umsatz aus — die Firma bleibt IT-Value-Added-Distributor.
View the full file — quotes, sources, reviewed filings
„We currently incorporate AI technology in certain offerings and in our business operations."
Wir integrieren derzeit KI-Technologie in bestimmte Angebote und in unseren Geschäftsbetrieb.
10-K · 2026-02-27 · View SEC filing
„Technologies used in or integrated into our operations, such as cloud-based services, artificial intelligence, and automation, may cause an adverse shift in the way our existing business operations are conducted."
Technologien, die in unserem Betrieb eingesetzt oder integriert werden — etwa cloudbasierte Dienste, künstliche Intelligenz und Automatisierung — könnten zu einer nachteiligen Verschiebung der Art und Weise führen, wie unser bestehender Geschäftsbetrieb geführt wird.
10-K · 2025-03-11 · View SEC filing
Filings Reviewed: 10-K 2026-02-27 · 10-K 2025-03-11 · 10-Q 2026-07-30 · 10-Q 2026-04-30 · 10-Q 2025-10-30 · 10-Q 2025-07-31
Rated on August 26, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 28.9%
- More than 10% revenue growth is expected for the coming year 8.2%
- Share count grows by less than 3% a year 1.5%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 42.4%
- Gross margin at 40% or higher and without meaningful erosion 16.1%
- Goodwill from acquisitions does not grow faster than revenue 8.0%
- Net debt below twice EBITDA 33 m net cash
- Operating cash flow covers the profits of the last three years 40 m
- Return on capital at 15% or higher, or up versus two years ago 23.8%
- Insiders hold at least 10% or are net buyers 11.7%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
9/10 Quality stockThe AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 5.1%
- Exp. sales growth 3Y > 5% 10.8%
- EBIT growth 10Y > 5% 14.5%
- Exp. EBIT growth 3Y > 5% 21.7%
- Net debt < 4x EBIT -1.1x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 51.7%
- Return on equity > 15% 44.9%
- ROCE > 15% 23.8%
- Expected return > 10% 25.2%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | Bass Charles Edward | Chief Alliance Officer | Other | 746 | 26.78 | 19,978 |
| Aug 5, 2026 | Sullivan Matthew M | Chief Financial Officer | Other | 646 | 26.78 | 17,300 |
| Aug 5, 2026 | Foster Dale Richard | Chief Executive Officer | Other | 1,015 | 26.78 | 27,182 |
| Aug 5, 2026 | Popovich Timothy | Chief Operating Officer | Other | 222 | 26.78 | 5,945 |
| Jul 28, 2026 | Bell Peter W | Director | Other | 5,855 | 0.00 | – |
The company
About the Company
Climb Global Solutions, Inc. operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, and the United Kingdom.
- Employees
- 392
- Headquarters
- Eatontown, NJ
- Address
- 4 Industrial Way West, 07724 Eatontown, United States
- Phone
- 732 389 0932
- Website
- climbglobalsolutions.com
- IPO Date
- 07/18/1995
- ISIN
- US9467601053
- Stock Split
- 4:1 on 03/23/2026
Management
| Name | Title | Birth Year |
|---|---|---|
| Dale Richard Foster | CEO & Director | 1964 |
| Timothy Popovich | President & COO | 1979 |
| Matthew Sullivan | VP & CFO | 1988 |
| Charles Edward Bass | VP & Chief Alliances Officer | 1965 |
| Vishal Pushpa | Chief Information Officer | – |
| Gerard Brophy | Managing Director | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.