C 
CDW CDW · USD
Information Technology · Electronic Equipment, Instruments & Components · US listing · 🇺🇸 United States
S&P 500
164.61
+4.85%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$22.42bn
FY2016FY2025
Net income
$1.07bn
FY2016FY2025
Free cash flow
$1.09bn
FY2016FY2025
Shareholders' equity
$2.61bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.42bn | $21.00bn | $21.38bn | $23.75bn | $20.82bn | $18.47bn | $18.03bn | $16.24bn | $14.83bn | $13.67bn |
| Gross profit | $4.87bn | $4.60bn | $4.65bn | $4.69bn | $3.57bn | $3.21bn | $3.04bn | $2.71bn | $2.45bn | $2.33bn |
| Operating income | $1.66bn | $1.65bn | $1.68bn | $1.74bn | $1.42bn | $1.18bn | $1.11bn | $987.3m | $866.5m | $820.0m |
| Net income | $1.07bn | $1.08bn | $1.10bn | $1.11bn | $988.6m | $788.5m | $736.8m | $643.0m | $523.1m | $425.1m |
| Diluted earnings per share | 8.17 | 8.02 | 8.13 | 8.11 | 7.18 | 5.43 | 5.03 | 4.23 | 3.37 | 2.60 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $16.03bn | $14.68bn | $13.28bn | $13.13bn | $13.20bn | $9.34bn | $8.00bn | $7.17bn | $6.97bn | $6.95bn |
| Cash and short-term investments | $618.7m | $717.7m | $588.7m | $315.2m | $258.1m | $1.41bn | $154.0m | $205.8m | $144.2m | $263.7m |
| Total liabilities | $13.42bn | $12.33bn | $11.24bn | $11.53bn | $12.49bn | $8.05bn | $7.04bn | $6.19bn | $5.98bn | $5.90bn |
| Debt | $5.63bn | $5.84bn | $5.64bn | $5.92bn | $6.86bn | $3.93bn | $3.19bn | $3.21bn | $3.24bn | $3.23bn |
| Shareholders' equity | $2.61bn | $2.35bn | $2.04bn | $1.60bn | $705.7m | $1.30bn | $960.3m | $975.2m | $985.6m | $1.05bn |
| Shares outstanding | 131m | 134m | 136m | 137m | 138m | 145m | 146m | 152m | 155m | 163m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $1.21bn | $1.28bn | $1.60bn | $1.34bn | $784.6m | $1.31bn | $1.03bn | $905.9m | $777.7m | $604.0m |
| Capital spending | −$117.1m | −$122.6m | −$148.2m | −$127.8m | −$100.0m | −$158.0m | −$236.3m | −$86.1m | −$81.1m | −$63.5m |
| Free cash flow | $1.09bn | $1.15bn | $1.45bn | $1.21bn | $684.6m | $1.16bn | $790.9m | $819.8m | $696.6m | $540.5m |
| Dividends paid | −$328.6m | −$332.1m | −$321.5m | −$282.6m | −$234.8m | −$219.6m | −$183.4m | −$139.4m | −$106.9m | −$78.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.57bn | $5.68bn | $5.51bn | $5.74bn | $5.98bn | $5.20bn | $5.19bn | $5.52bn |
| Gross profit | $1.32bn | $1.19bn | $1.25bn | $1.26bn | $1.24bn | $1.12bn | $1.16bn | $1.20bn |
| Operating income | $428.6m | $377.0m | $430.7m | $443.3m | $420.2m | $361.4m | $408.6m | $481.6m |
| Net income | $274.4m | $235.4m | $279.5m | $291.0m | $271.2m | $224.9m | $264.2m | $316.4m |
| Diluted earnings per share | 2.15 | 1.85 | 2.14 | 2.23 | 2.08 | 1.72 | 1.97 | 2.35 |
| Cash from operations | $219.0m | $274.0m | $433.0m | $328.0m | $155.0m | $287.0m | $345.0m | $342.0m |
| Capital spending | −$53.0m | −$26.0m | −$37.0m | −$29.0m | −$22.0m | −$26.0m | −$28.0m | −$33.0m |
| Free cash flow | $166.0m | $248.0m | $396.0m | $299.0m | $133.0m | $261.0m | $317.0m | $309.0m |
| Total assets | $17.25bn | $16.45bn | $16.03bn | $15.20bn | $15.27bn | $15.02bn | $14.68bn | $14.38bn |
| Cash and short-term investments | $361.8m | $578.6m | $618.7m | $452.9m | $481.0m | $688.1m | $717.7m | $1.16bn |
| Debt | $5.82bn | $6.00bn | $6.02bn | $5.96bn | $5.63bn | $5.85bn | $5.84bn | $6.03bn |
| Shareholders' equity | $2.44bn | $2.56bn | $2.61bn | $2.54bn | $2.47bn | $2.32bn | $2.35bn | $2.35bn |
Financial ratios
Data as of 29 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 21.7% | 21.9% | 21.8% | 19.7% | 17.1% | 17.4% |
| Operating margin | 7.4% | 7.9% | 7.9% | 7.3% | 6.8% | 6.4% |
| Net margin | 4.8% | 5.1% | 5.2% | 4.7% | 4.7% | 4.3% |
| Return on equity | 40.9% | 45.8% | 54.1% | 69.5% | 140.1% | 60.8% |
| Return on assets | 6.7% | 7.3% | 8.3% | 8.5% | 7.5% | 8.4% |
| Free cash flow yield | 7.8% | 8.0% | 9.9% | 8.2% | 4.9% | 7.8% |
| Revenue growth | 6.8% | -1.8% | -10.0% | 14.1% | 12.7% | 2.4% |
| Earnings growth | -1.0% | -2.4% | -0.9% | 12.7% | 25.4% | 7.0% |
| Current ratio | 1.18x | 1.35x | 1.23x | 1.33x | 1.27x | 1.53x |
| Debt to equity | 2.31x | 2.48x | 2.76x | 3.69x | 10.16x | 3.39x |
| Equity ratio | 16.3% | 16.0% | 15.4% | 12.2% | 5.3% | 13.9% |
| Interest coverage | 7.28x | 7.70x | 7.42x | 7.36x | 9.40x | 7.61x |
| Buybacks as a share of market value | 2.8% | 1.1% | 1.1% | 0.2% | 5.1% | 0.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.9% | 4.0% | 5.6% |
| Operating income | -1.6% | 7.0% | 8.4% |
| Net income | -1.5% | 6.2% | 10.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.8% | 21.2% | 20.0% | 18.8% |
| Operating margin | 7.6% | 7.6% | 7.3% | 6.8% |
| Net margin | 4.9% | 4.9% | 4.8% | 4.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.7 | 21.7 | 28.0 | 22.0 | 28.5 | 24.3 | 28.4 | 19.1 | 20.6 | 20.0 |
| Price to sales | 0.8 | 1.1 | 1.4 | 1.0 | 1.4 | 1.0 | 1.2 | 0.8 | 0.7 | 0.6 |
Market value over time
31 Oct 2016 to 28 Sept 2026, in USD
$7.41bn$16.60bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -17% | -23% | 26% | -5% | 43% | -9% | 79% | 14% | 32% | 30% |
Dividends and splits
Per share, in the currency the company pays
Paid for 13 years. Last went ex-dividend on 25 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.89 | 2.505 | 2.485 | 2.39 | 2.09 | 1.70 | 1.54 | 1.265 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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