Here are 1-3 brief analogies for Arrow Electronics:

• The Sysco for the electronics and enterprise IT industries.
• The Grainger for high-tech components and enterprise computing solutions.

• Electronic Components Distribution: Providing global distribution and technical support for a wide range of semiconductors, passive, and electromechanical components to original equipment manufacturers.
• Enterprise Computing Solutions Distribution: Offering value-added distribution of IT hardware, software, cloud services, and security solutions from leading vendors to a network of channel partners.
• Design and Engineering Services: Assisting customers with product design, component selection, and integration to accelerate time-to-market for new electronic devices.
• Supply Chain Management: Delivering comprehensive logistics, inventory management, and global fulfillment services to optimize the supply chain for electronic components and IT solutions.
• Cloud Enablement Services: Supporting partners and customers in adopting, integrating, and managing cloud-based technologies and services.

Arrow Electronics (ARW) primarily sells to other companies (B2B).

Due to the highly diversified nature of its business, Arrow Electronics does not disclose the names of specific major customers. Its customer base is vast, comprising hundreds of thousands of businesses globally, and no single customer typically accounts for a material percentage of its consolidated net sales. Instead, Arrow serves a broad range of companies across two main business segments:

• Original Equipment Manufacturers (OEMs) and Electronics Manufacturing Services (EMS) providers: These customers purchase electronic components (such as semiconductors, passive components, and electromechanical products) and associated design and supply chain services from Arrow. They integrate these components into their own products, which range across industries like automotive, industrial, communications, aerospace & defense, and consumer electronics.
• Value-Added Resellers (VARs), Managed Service Providers (MSPs), and System Integrators: These customers procure enterprise computing solutions (including servers, storage, networking, software, and cybersecurity solutions) and related services from Arrow. They typically bundle these products with their own services and expertise to provide complete IT solutions to their end-user clients.

• Texas Instruments (TXN)
• Intel (INTC)
• Qualcomm (QCOM)
• NXP Semiconductors (NXPI)
• Cisco Systems (CSCO)
• Hewlett Packard Enterprise (HPE)
• Dell Technologies (DELL)

William F. Austen, Interim President and Chief Executive Officer

William F. Austen was appointed Interim President and CEO of Arrow Electronics, Inc. effective September 16, 2025. He has served on Arrow's Board of Directors since May 2020. Prior to joining Arrow, Mr. Austen spent over 19 years at Bemis Company, where he most recently served as president and chief executive officer after holding the role of chief operating officer.

Raj Agrawal, Senior Vice President and Chief Financial Officer

Raj Agrawal serves as the Senior Vice President and Chief Financial Officer of Arrow Electronics, Inc. Before joining Arrow, he was the executive vice president and chief financial officer for Western Union since 2014. During his time at Western Union, he also intermittently held positions as head of mergers and acquisition strategy and global operations. Earlier in his career, Mr. Agrawal held senior roles with Deluxe Corp., General Mills, Inc., Chrysler Corp., and General Motors Corp.

Eric Nowak, President, Global Enterprise Computing Solutions

Eric Nowak is the President of Arrow's global enterprise computing solutions business, which provides data center solutions, services, and support. He joined Arrow in 2005 through the Logix Group acquisition. Previously, he served as president of the company's enterprise computing solutions business segment in the Europe, Middle East, Africa (EMEA), Australia, and New Zealand regions, and before that, as vice president of sales in EMEA for that business.

Kirk Schell, President, Global Components

Kirk Schell serves as President of Arrow's global components business, which provides sales, marketing, engineering, and supply chain services. Prior to joining Arrow, Mr. Schell spent nearly 25 years at Dell Technologies, where he was most recently responsible for global online B2B sales. His career at Dell also included leading sales for the client solutions portfolio in the Asia-Pacific region and serving as the general manager of Dell's displays group.

Gretchen K. Zech, Senior Vice President and Chief Governance, Sustainability, and Human Resources Officer

Gretchen K. Zech is the Senior Vice President and Chief Governance, Sustainability, and Human Resources Officer for Arrow Electronics, Inc. She is responsible for leading the company's global Environmental, Social, and Governance (ESG) strategy and oversees several global functions, including corporate affairs, real estate and environmental sustainability, legal and compliance, human resources, and payroll. She previously served as Senior Vice President and Chief Human Resources Officer for more than five years.

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Arrow Electronics operates in two primary markets: the distribution of electronic components and global enterprise computing solutions.

• For its core distribution business of electronic components, Arrow Electronics identifies its total addressable market (DTAM) as over $250 billion globally. Broader market estimates for the global distribution of electronic components indicate a market size of approximately $418.2 billion in 2025, projected to grow to $871 billion by 2035.
• The global enterprise tech ecosystem market, which encompasses enterprise computing solutions, was valued at $405.26 billion in 2025 and is projected to reach $728.58 billion by 2035. North America holds approximately 38% of this market share, with Europe accounting for 28%.

Expected Drivers of Future Revenue Growth for Arrow Electronics (ARW)

Over the next 2-3 years, Arrow Electronics (ARW) is expected to drive future revenue growth through several key initiatives and market trends:

1. Recovery in the Global Components Business: While the global components business has experienced a prolonged market correction, there are indications of stabilization and an anticipated recovery. Management and analysts foresee a gradual improvement in key sectors, with the Asia-Pacific region leading growth and the Americas and Europe expected to follow. This segment is crucial as it constitutes approximately 70-72% of Arrow's total revenue.

2. Growth in Enterprise Computing Solutions (ECS), particularly Hybrid Cloud and AI-related Solutions: The Enterprise Computing Solutions segment has consistently demonstrated year-over-year revenue growth. This growth is largely fueled by the increasing demand for hybrid cloud and AI-related infrastructure and software solutions. Arrow is unifying its go-to-market strategy in this segment to capitalize on these high-growth trends.

3. Expansion of Value-Added Services and Recurring Revenue Streams: Arrow is strategically shifting towards a higher-margin service mix, expanding its offerings in supply chain management, engineering, design services, and integration solutions. These value-added services provide customers with outsourced logistics and design support, especially for complex, AI-related infrastructure projects, and are becoming increasingly central to Arrow's business model. The ArrowSphere cloud commerce platform is also a significant contributor to gaining momentum in enterprise technology distribution and generating recurring revenue streams.

4. Increased Demand in Key End-Markets: The company is well-positioned to benefit from rising demand in specific industrial, transportation, and aerospace/defense sectors. The growing trend of electrification and connected infrastructure within these long-lived end-markets is expected to support continued revenue expansion as these sectors recover and evolve.

Share Repurchases

• Arrow Electronics repurchased 2.0 million shares for $250 million in 2024 under its share-repurchase program.
• As of December 31, 2024, approximately $324.1 million remained available for repurchase under the share-repurchase program, with a total authorized dollar value of $1.6 billion of which $1.3 billion has been utilized.
• The company repurchased 6.1 million shares for $745.9 million in 2023 and 9.3 million shares for $1.0 billion in 2022.

Share Issuance

• The number of diluted shares outstanding has declined over the past few years, from 65 million in 2022 to 57 million in 2023, and further to 54 million in 2024.
• Shareholders have not been meaningfully diluted in the past year.

Outbound Investments

• Arrow Electronics plans to continue evaluating strategic acquisitions to broaden its product and service offerings and expand its geographic reach.
• The company made payments for businesses acquired in 2024.

Capital Expenditures

• Capital expenditures were $92.7 million in 2024 and $83.3 million in 2023.
• Arrow Electronics anticipates capital expenditures of approximately $100 million for fiscal year 2025.
• The capital expenditures support general corporate purposes, including funding working capital, potential acquisitions, and investments in IT for automation and real estate consolidation as part of an operating expense efficiency plan.