CDW Corp (CDW)

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Commercial, Government, and Education. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security. It also provides hardware products comprising notebooks/mobile devices, tablets, network communications, collaboration hardware, data storage and servers, desktop computers, and other hardware; and software products, such as cloud solutions, software assurance, application suites, security, virtualization, collaboration and productivity applications, operating systems, and network management. In addition, the company offers advisory and design, software development, implementation, and managed services, as well as warranties. It serves business, government, education, and healthcare customers. The company was formerly known as CDW Computer Centers, Inc. and changed its name to CDW Corporation in June 2003. CDW Corporation was founded in 1984 and is based in Vernon Hills, Illinois.

Symbol: CDW
Exchange: Nasdaq
Sector: Technology
Industry: Information Technology Services
Market cap: $16.70B
52 week range: 97.12 - 162.47

Valuation

Share price: $133.29 (close of 2026-10-02)
P/E (TTM): 15.96x
Price to book: 6.84x
Price to free cash flow: 19.42x
Enterprise value: $22.30B
Book value per share: $19.49

Price performance

Period	Change
1 day	-1.87%
5 days	-1.58%
1 month	-10.35%
3 months	-0.06%
6 months	+9.25%
Year to date	-2.14%
1 year	-16.39%
3 years	-33.68%
5 years	-28.23%
10 years	+191.47%
All time	+625.59%

Members of Congress who disclosed CDW trades

April McClain Delaney · Robert Bresnahan · Gilbert Ray Cisneros

Super investors holding CDW

Bill Nygren (Harris Associates LP) · Richard Pzena (Pzena Investment Management) · Stanley Druckenmiller (Duquesne Family Office) · Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates)

Profitability and growth

Return on equity: 40.93%
Return on invested capital: 16.65%
Return on assets: 6.65%
Return on capital employed: 18.81%
Gross margin: 21.73%
Net margin: 4.76%
EBITDA margin: 8.70%
Revenue growth: 6.79%
Net income growth: -1.04%
Free cash flow growth: -5.77%

Cash flow and balance sheet

Free cash flow yield (TTM): 5.15%
Current ratio: 1.17x
Net debt to EBITDA: 2.83x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $22.42B
Cost of revenue: $17.55B
Gross profit: $4.87B
EBITDA: $1.95B
Net income: $1.07B
Earnings per share: $8.13
Shares outstanding: 131.30M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$22.42B	$4.87B	$1.07B	$8.13
2024-12-31	$21.00B	$4.60B	$1.08B	$8.06
2023-12-31	$21.38B	$4.65B	$1.10B	$8.20
2022-12-31	$23.75B	$4.69B	$1.11B	$8.24
2021-12-31	$20.82B	$3.57B	$988.60M	$7.14
2020-12-31	$18.47B	$3.21B	$788.50M	$5.53
2019-12-31	$18.03B	$3.04B	$736.80M	$5.08
2018-12-31	$16.24B	$2.71B	$643.00M	$4.26
2017-12-31	$14.83B	$2.45B	$523.10M	$3.37
2016-12-31	$13.67B	$2.33B	$425.10M	$2.60

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	21.73%	4.76%	40.93%	16.65%
2024-12-31	21.92%	5.13%	45.81%	16.96%
2023-12-31	21.76%	5.17%	54.07%	18.38%
2022-12-31	19.73%	4.69%	69.51%	18.44%
2021-12-31	17.14%	4.75%	140.09%	14.75%
2020-12-31	17.38%	4.27%	60.79%	24.08%
2019-12-31	16.86%	4.09%	76.73%	21.49%
2018-12-31	16.67%	3.96%	65.94%	19.85%
2017-12-31	16.52%	3.53%	53.07%	17.88%
2016-12-31	17.03%	3.11%	40.57%	14.23%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$618.70M	$4.62B
2024-12-31	$717.70M	$5.61B
2023-12-31	$588.70M	$5.03B
2022-12-31	$315.20M	$5.87B
2021-12-31	$258.10M	$6.76B
2020-12-31	$1.41B	$3.86B
2019-12-31	$154.00M	$3.28B
2018-12-31	$205.80M	$3.18B
2017-12-31	$144.20M	$3.21B
2016-12-31	$263.70M	$3.22B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$1.09B	$83.60M
2024-12-31	$1.15B	$64.70M
2023-12-31	$1.45B	$93.70M
2022-12-31	$1.21B	$91.10M
2021-12-31	$684.60M	$72.60M
2020-12-31	$1.16B	$42.50M
2019-12-31	$790.90M	$48.50M
2018-12-31	$819.80M	$40.70M
2017-12-31	$696.60M	$43.70M
2016-12-31	$540.50M	$39.20M

Dividend history

Most recent payment: 2026-08-25
Paid in the last twelve months: $2.52

Payment date	Dividend per share
2026-08-25	$0.63
2026-05-22	$0.63
2026-02-25	$0.63
2025-11-25	$0.63
2025-08-25	$0.63
2025-05-23	$0.63
2025-02-25	$0.63
2024-11-25	$0.63

Investor relations

Next earnings report

Next confirmed report: 2026-11-03
Consensus EPS estimate: $2.77

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-05	Jun/2026	$2.66
2026-05-06	Mar/2026	$2.15
2026-02-04	Dec/2025	$2.31
2025-11-04	Sep/2025	$2.53
2025-08-06	Jun/2025	$2.39
2025-05-07	Mar/2025	$1.89
2025-02-05	Dec/2024	$2.22
2024-10-30	Sep/2024	$2.68

Filings and sources

Company website: cdw.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

Similar companies

Leidos Holdings, Inc. (LDOS) · Fidelity National Information Services, Inc. (FIS) · CACI International Inc (CACI) · Broadridge Financial Solutions, Inc. (BR) · Gartner Inc (IT) · Fiserv Inc (FISV) · Jack Henry & Associates Inc (JKHY) · Cognizant Technology Solutions Corp (CTSH)

All Technology companies

Understanding these figures

Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

Explore

Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades