CDW Corporation (CDW)

Nasdaq Information Technology Technology Distributors S&P 500

$157.00

-1.39 (-0.88%)

Close of Nov 06, 2026 · end-of-day data

Source: CDW Corporation's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$13.67B	$14.83B	$16.24B	$18.03B	$18.47B	$20.82B	$23.75B	$21.38B	$21.00B	$22.42B
Cost of revenue	$11.34B	$12.38B	$13.53B	$14.99B	$15.26B	$17.25B	$19.06B	$16.72B	$16.40B	$17.55B
Gross profit	$2.33B	$2.45B	$2.71B	$3.04B	$3.21B	$3.57B	$4.69B	$4.65B	$4.60B	$4.87B
Selling, general & admin	$1.35B	$1.41B	$1.72B	$1.91B	$2.03B	$2.15B	$2.95B	$2.97B	$2.95B	$3.22B
Operating income	$820.00M	$866.50M	$987.30M	$1.13B	$1.18B	$1.42B	$1.74B	$1.68B	$1.65B	$1.66B
Pre-tax income	$673.20M	$660.70M	$840.50M	$949.70M	$1.00B	$1.30B	$1.49B	$1.45B	$1.44B	$1.43B
Income tax	$248.10M	$137.60M	$197.50M	$212.90M	$213.80M	$309.20M	$373.30M	$345.90M	$357.60M	$360.80M
Net income	$425.10M	$523.10M	$643.00M	$736.80M	$788.50M	$988.60M	$1.11B	$1.10B	$1.08B	$1.07B
EBITDA	$1.07B	$1.13B	$1.25B	$1.40B	$1.60B	$1.61B	$2.03B	$1.95B	$1.93B	$1.95B
EPS (basic)	$2.60	$3.37	$4.26	$5.08	$5.53	$7.14	$8.24	$8.20	$8.06	$8.13
EPS (diluted)	$2.56	$3.31	$4.19	$4.99	$5.45	$7.04	$8.13	$8.10	$7.97	$8.08
Diluted shares	166.00M	158.20M	153.60M	147.80M	144.80M	140.50M	137.00M	136.30M	135.20M	132.10M
Gross margin	17.0%	16.5%	16.7%	16.9%	17.4%	17.1%	19.7%	21.8%	21.9%	21.7%
Operating margin	6.0%	5.8%	6.1%	6.3%	6.4%	6.8%	7.3%	7.9%	7.9%	7.4%
Net margin	3.1%	3.5%	4.0%	4.1%	4.3%	4.7%	4.7%	5.2%	5.1%	4.8%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$263.70M	$144.20M	$205.80M	$154.00M	$1.41B	$258.10M	$315.20M	$588.70M	$503.50M	$618.70M
Short-term investments	—	—	—	—	—	—	—	$0	$214.20M	$0
Receivables	$2.17B	$2.33B	$2.67B	$3.00B	$3.21B	$4.50B	$4.46B	$4.57B	$5.14B	$6.31B
Inventory	$423.90M	$411.50M	$454.30M	$611.20M	$760.00M	$927.60M	$800.20M	$668.10M	$605.30M	$563.40M
Total current assets	$3.25B	$3.40B	$3.80B	$4.33B	$5.95B	$6.48B	$6.56B	$6.71B	$7.37B	$8.50B
Goodwill	$2.46B	$2.48B	$2.46B	$2.55B	$2.60B	$4.38B	$4.34B	$4.41B	$4.62B	$4.66B
Total assets	$6.96B	$6.97B	$7.17B	$8.00B	$9.34B	$13.20B	$13.13B	$13.28B	$14.68B	$16.03B
Total current liabilities	$2.29B	$2.52B	$2.80B	$3.49B	$3.90B	$5.10B	$4.95B	$5.44B	$5.47B	$7.23B
Short-term debt	$18.50M	$25.50M	$25.30M	$34.10M	$70.90M	$102.70M	$56.30M	$613.10M	$235.80M	$1.01B
Long-term debt	$3.22B	$3.21B	$3.18B	$3.28B	$3.86B	$6.76B	$5.87B	$5.03B	$5.61B	$4.62B
Total debt	$3.23B	$3.24B	$3.21B	$3.32B	$3.93B	$6.86B	$5.92B	$5.64B	$5.84B	$5.63B
Total liabilities	$5.91B	$5.98B	$6.19B	$7.04B	$8.05B	$12.49B	$11.53B	$11.24B	$12.33B	$13.42B
Shareholders' equity	$1.05B	$985.60M	$975.20M	$960.30M	$1.30B	$705.70M	$1.60B	$2.04B	$2.35B	$2.61B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$604.00M	$777.70M	$905.90M	$1.03B	$1.31B	$784.60M	$1.34B	$1.60B	$1.28B	$1.21B
Capital expenditures	$63.50M	$81.10M	$86.10M	$236.30M	$158.00M	$100.00M	$127.80M	$148.20M	$122.60M	$117.10M
Free cash flow	$540.50M	$696.60M	$819.80M	$790.90M	$1.16B	$684.60M	$1.21B	$1.45B	$1.15B	$1.09B
Investing cash flow	-$65.90M	-$81.10M	-$86.10M	-$331.40M	-$201.00M	-$2.77B	-$164.50M	-$229.60M	-$659.20M	$70.20M
Financing cash flow	-$304.60M	-$818.70M	-$754.80M	-$749.80M	$138.80M	$832.80M	-$1.10B	-$1.10B	-$686.90M	-$1.18B
Dividends paid	$78.70M	$106.90M	$139.40M	$183.40M	$219.60M	$234.80M	$282.60M	$321.50M	$332.10M	$328.60M
Share buybacks	$367.40M	$534.00M	$522.30M	$657.20M	$340.60M	$1.50B	$0	$500.00M	$500.00M	$653.00M
Stock-based compensation	$39.20M	$43.70M	$40.70M	$48.50M	$42.50M	$72.60M	$91.10M	$93.70M	$64.70M	$83.60M
Depreciation & amortization	$254.50M	$260.90M	$265.60M	$267.10M	$425.60M	$191.20M	$290.60M	$270.70M	$275.30M	$295.60M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$5.02B	$4.87B	$5.42B	$5.52B	$5.19B	$5.20B	$5.98B	$5.74B	$5.51B	$5.68B	$6.57B	$6.75B
Cost of revenue	$3.86B	$3.81B	$4.24B	$4.32B	$4.03B	$4.08B	$4.74B	$4.48B	$4.26B	$4.49B	$5.25B	$5.37B
Gross profit	$1.15B	$1.06B	$1.18B	$1.20B	$1.16B	$1.12B	$1.24B	$1.26B	$1.25B	$1.19B	$1.32B	$1.39B
Selling, general & admin	$718.80M	$735.30M	$750.00M	$719.10M	$746.70M	$760.90M	$821.00M	$812.20M	$823.70M	$814.00M	$891.20M	$895.80M
Operating income	$435.00M	$328.00M	$433.10M	$481.60M	$408.60M	$361.40M	$420.20M	$443.30M	$430.70M	$376.00M	$428.60M	$489.50M
Pre-tax income	$380.70M	$276.60M	$379.70M	$427.60M	$351.50M	$304.00M	$364.90M	$389.40M	$369.10M	$319.00M	$372.90M	$423.90M
Income tax	$84.60M	$60.50M	$98.60M	$111.20M	$87.30M	$79.10M	$93.70M	$98.40M	$89.60M	$83.60M	$98.50M	$114.10M
Net income	$296.10M	$216.10M	$281.10M	$316.40M	$264.20M	$224.90M	$271.20M	$291.00M	$279.50M	$235.40M	$274.40M	$309.80M
EBITDA	$503.10M	$395.30M	$502.50M	$550.70M	$478.10M	$436.30M	$493.50M	$516.60M	$504.80M	$450.90M	$503.90M	$564.60M
EPS (basic)	$2.20	$1.61	$2.10	$2.37	$1.99	$1.70	$2.06	$2.22	$2.15	$1.82	$2.16	$2.48
EPS (diluted)	$2.18	$1.59	$2.07	$2.34	$1.97	$1.69	$2.05	$2.21	$2.14	$1.82	$2.15	$2.46
Diluted shares	-100.00K	136.00M	135.60M	134.90M	-300.00K	133.50M	132.40M	131.80M	-500.00K	129.50M	127.40M	125.70M
Gross margin	23.0%	21.8%	21.8%	21.8%	22.3%	21.6%	20.8%	21.9%	22.8%	21.0%	20.1%	20.5%
Operating margin	8.7%	6.7%	8.0%	8.7%	7.9%	7.0%	7.0%	7.7%	7.8%	6.6%	6.5%	7.2%
Net margin	5.9%	4.4%	5.2%	5.7%	5.1%	4.3%	4.5%	5.1%	5.1%	4.1%	4.2%	4.6%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$588.70M	$803.80M	$665.30M	$946.70M	$503.50M	$471.40M	$481.00M	$452.90M	$618.70M	$578.60M	$361.80M	$1.54B
Short-term investments	$0	—	—	$211.70M	$214.20M	$216.70M	$0	$0	$0	—	—	—
Receivables	$4.57B	$4.31B	$4.72B	$4.89B	$5.14B	$5.33B	$5.63B	$5.79B	$6.31B	$6.47B	$7.34B	$7.77B
Inventory	$668.10M	$670.80M	$724.80M	$682.50M	$605.30M	$720.20M	$761.60M	$504.70M	$563.40M	$820.60M	$981.80M	$1.02B
Total current assets	$6.71B	$6.63B	$7.04B	$7.66B	$7.37B	$7.65B	$7.84B	$7.78B	$8.50B	$8.97B	$9.68B	$11.36B
Goodwill	$4.41B	$4.41B	$4.41B	$4.42B	$4.62B	$4.64B	$4.65B	$4.64B	$4.66B	$4.65B	$4.65B	$5.00B
Total assets	$13.28B	$13.19B	$13.64B	$14.38B	$14.68B	$15.02B	$15.27B	$15.20B	$16.03B	$16.45B	$17.25B	$19.59B
Total current liabilities	$5.44B	$5.26B	$6.21B	$5.46B	$5.47B	$5.78B	$5.81B	$5.59B	$7.23B	$7.70B	$8.30B	$8.98B
Short-term debt	$613.10M	$604.70M	$1.20B	$423.20M	$235.80M	$230.60M	$9.50M	$9.10M	$1.01B	$1.01B	$1.01B	$1.01B
Long-term debt	$5.03B	$5.03B	$4.42B	$5.61B	$5.61B	$5.62B	$5.62B	$5.62B	$4.62B	$4.64B	$4.81B	$6.12B
Total debt	$5.64B	$5.63B	$5.63B	$6.03B	$5.84B	$5.85B	$5.63B	$5.63B	$5.63B	$5.64B	$5.82B	$7.12B
Total liabilities	$11.24B	$11.05B	$11.46B	$12.03B	$12.33B	$12.70B	$12.80B	$12.66B	$13.42B	$13.90B	$14.81B	$16.95B
Shareholders' equity	$2.04B	$2.14B	$2.17B	$2.35B	$2.35B	$2.32B	$2.47B	$2.54B	$2.61B	$2.56B	$2.44B	$2.64B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$536.50M	$440.00M	$149.90M	$342.10M	$345.30M	$287.20M	$155.90M	$328.30M	$433.80M	$274.80M	-$55.10M	$398.80M
Capital expenditures	$33.50M	$29.50M	$30.90M	$33.60M	$28.60M	$26.90M	$22.50M	$29.80M	$37.90M	$26.40M	$27.50M	$26.80M
Free cash flow	$503.00M	$410.50M	$119.00M	$308.50M	$316.70M	$260.30M	$133.40M	$298.50M	$395.90M	$248.40M	-$82.60M	$372.00M
Investing cash flow	-$33.70M	-$29.70M	-$30.90M	-$244.90M	-$353.70M	-$31.90M	$186.50M	-$29.90M	-$54.50M	-$30.90M	-$27.90M	-$481.80M
Financing cash flow	-$359.00M	-$192.60M	-$257.00M	$178.90M	-$416.20M	-$294.10M	-$355.10M	-$319.50M	-$215.80M	-$273.20M	-$133.00M	$1.27B
Dividends paid	$83.10M	$83.30M	$83.00M	$82.70M	$83.10M	$82.80M	$82.30M	$81.80M	$81.70M	$81.10M	$79.80M	$78.70M
Share buybacks	$50.00M	$52.10M	$201.90M	$100.00M	$146.00M	$200.10M	$150.00M	$149.90M	$153.00M	$201.00M	$343.70M	$108.00M
Stock-based compensation	$22.10M	$19.40M	$28.70M	$2.70M	$13.90M	$20.50M	$23.50M	$27.10M	$12.50M	$22.10M	$28.10M	$26.70M
Depreciation & amortization	$68.10M	$67.30M	$69.40M	$69.10M	$69.50M	$74.90M	$73.30M	$73.30M	$74.10M	$74.90M	$75.30M	$75.10M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.