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CDW (CDW) Financials

CDW logo
$185.72 +3.56 (+1.95%)
Closing price 05/27/2025 04:00 PM Eastern
Extended Trading
$185.71 -0.01 (0.00%)
As of 05/27/2025 06:08 PM Eastern
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Annual Income Statements for CDW

Annual Income Statements for CDW

This table shows CDW's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders		 1,078 1,104 1,115 989 789 737 643 523 425 403
Consolidated Net Income / (Loss)		 1,078 1,104 1,115 989 789 737 643 523 425 403
Net Income / (Loss) Continuing Operations		 1,078 1,104 1,115 989 789 737 643 523 425 403
Total Pre-Tax Income 		1,435 1,450 1,488 1,298 1,002 950 841 661 673 647
Total Operating Income		 1,651 1,681 1,735 1,419 1,179 1,134 987 867 820 742
Total Gross Profit		 4,602 4,652 4,687 3,569 3,210 3,040 2,707 2,450 2,328 2,116
Total Revenue		 20,999 21,376 23,749 20,821 18,468 18,032 16,241 14,833 13,673 12,989
Operating Revenue		 20,999 21,376 23,749 20,821 18,468 18,032 16,241 14,833 13,673 12,989
Total Cost of Revenue		 16,396 16,724 19,062 17,252 15,257 14,993 13,534 12,383 11,344 10,873
Operating Cost of Revenue		 16,396 16,724 19,062 17,252 15,257 14,993 13,534 12,383 11,344 10,873
Total Operating Expenses		 2,951 2,972 2,951 2,150 2,031 1,906 1,720 1,584 1,508 1,374
Selling, General & Admin Expense		 2,951 2,972 2,951 2,150 2,031 1,906 1,720 1,410 1,345 1,226
Total Other Income / (Expense), net		 -216 -231 -247 -121 -177 -184 -147 -206 -147 -95
Interest & Investment Income		 -215 -227 -236 - - - - - - -
Other Income / (Expense), net		 -1.40 -4.10 -12 30 -22 -25 1.80 -55 1.80 89
Income Tax Expense		 358 346 373 309 214 213 198 138 248 244
Basic Earnings per Share		 $8.06 $8.20 $8.24 $7.14 $5.53 $5.08 $4.26 $3.37 $2.60 $2.37
Weighted Average Basic Shares Outstanding		 133.80M 134.60M 135.20M 138.50M 142.60M 145.10M 150.90M 155.40M 163.60M 170.30M
Diluted Earnings per Share		 $7.97 $8.10 $8.13 $7.04 $5.45 $4.99 $4.19 $3.31 $2.56 $2.35
Weighted Average Diluted Shares Outstanding		 135.20M 136.30M 137M 140.50M 144.80M 147.80M 153.60M 158.20M 166M 171.80M
Weighted Average Basic & Diluted Shares Outstanding		 132.49M 134.22M 135.59M 134.94M 140.99M 142.77M 147.06M 155.20M 163.20M 170.10M
Cash Dividends to Common per Share		 $2.49 $2.39 $2.09 $1.70 $1.54 $1.27 $0.93 $0.69 $0.48 $0.31

Quarterly Income Statements for CDW

This table shows CDW's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 225 264 316 281 216 296 316 263 230 287 298
Consolidated Net Income / (Loss)		 225 264 316 281 216 296 316 263 230 287 298
Net Income / (Loss) Continuing Operations		 225 264 316 281 216 296 316 263 230 287 298
Total Pre-Tax Income 		304 352 428 380 277 381 420 353 296 381 399
Total Operating Income		 361 409 482 433 328 435 478 412 355 447 466
Total Gross Profit		 1,122 1,155 1,201 1,183 1,063 1,154 1,228 1,182 1,089 1,181 1,233
Total Revenue		 5,199 5,186 5,517 5,423 4,873 5,019 5,628 5,626 5,103 5,438 6,216
Operating Revenue		 5,199 5,186 5,517 5,423 4,873 5,019 5,628 5,626 5,103 5,438 6,216
Total Cost of Revenue		 4,077 4,031 4,316 4,240 3,809 3,865 4,401 4,445 4,014 4,257 4,982
Operating Cost of Revenue		 4,077 4,031 4,316 4,240 3,809 3,865 4,401 4,445 4,014 4,257 4,982
Total Operating Expenses		 761 747 719 750 735 719 749 769 734 735 767
Selling, General & Admin Expense		 761 747 719 750 735 719 749 769 734 735 767
Total Other Income / (Expense), net		 -57 -57 -54 -53 -51 -54 -59 -59 -59 -65 -67
Interest & Investment Income		 -57 - -54 - - - -57 - - - -
Other Income / (Expense), net		 -0.30 -0.60 0.40 -1.10 -0.10 -1.00 -1.20 -0.60 -1.30 -6.00 -4.80
Income Tax Expense		 79 87 111 99 61 85 104 91 66 94 101
Basic Earnings per Share		 $1.70 $1.98 $2.37 $2.10 $1.61 $2.20 $2.35 $1.95 $1.70 $2.12 $2.20
Weighted Average Basic Shares Outstanding		 132.50M 133.80M 133.50M 134.10M 134.40M 134.60M 134.10M 134.60M 135.60M 135.20M 135.30M
Diluted Earnings per Share		 $1.69 $1.97 $2.34 $2.07 $1.59 $2.18 $2.32 $1.92 $1.68 $2.09 $2.17
Weighted Average Diluted Shares Outstanding		 133.50M 135.20M 134.90M 135.60M 136M 136.30M 135.90M 136.10M 137.30M 137M 137.10M
Weighted Average Basic & Diluted Shares Outstanding		 131.69M 132.49M 133.26M 133.58M 134.40M 134.22M 267.92M 268.10M 134.79M 135.59M 135.39M
Cash Dividends to Common per Share		 $0.63 - $0.62 $0.62 $0.62 - $0.59 $0.59 $0.59 - $0.50

Annual Cash Flow Statements for CDW

This table details how cash moves in and out of CDW's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents		 -81 274 57 -1,152 1,256 -52 62 -120 226 -307
Net Cash From Operating Activities		 1,277 1,599 1,336 785 1,314 1,027 906 778 604 278
Net Cash From Continuing Operating Activities		 1,277 1,599 1,336 785 1,314 1,027 906 778 604 278
Net Income / (Loss) Continuing Operations		 1,078 1,104 1,115 989 789 737 643 523 425 403
Consolidated Net Income / (Loss)		 1,078 1,104 1,115 989 789 737 643 523 425 403
Depreciation Expense		 275 271 291 191 426 267 266 261 255 227
Non-Cash Adjustments To Reconcile Net Income		 97 109 99 67 73 49 42 44 41 -29
Changes in Operating Assets and Liabilities, net		 -173 115 -169 -462 27 -26 -44 -50 -117 -330
Net Cash From Investing Activities		 -659 -230 -165 -2,770 -201 -331 -86 -81 -66 -354
Net Cash From Continuing Investing Activities		 -659 -230 -165 -2,770 -201 -331 -86 -81 -66 -354
Purchase of Property, Plant & Equipment		 -123 -148 -128 -100 -158 -236 -86 -81 -64 -90
Acquisitions		 -324 -76 -37 -2,706 -43 -95 0.00 - - -264
Purchase of Investments		 -211 0.00 0.00 - - - - - -2.40 -0.50
Other Investing Activities, net		 -1.60 -5.00 0.00 0.00 - - - - - -
Net Cash From Financing Activities		 -687 -1,099 -1,102 833 139 -750 -755 -819 -305 -227
Net Cash From Continuing Financing Activities		 -687 -1,099 -1,102 833 139 -750 -755 -819 -305 -228
Repayment of Debt		 -1,243 -409 -3,144 -2,787 -1,735 -2,967 -687 -3,697 -1,824 -879
Repurchase of Common Equity		 -500 -500 0.00 -1,500 -341 -657 -522 -534 -367 -241
Payment of Dividends		 -332 -322 -283 -235 -220 -183 -139 -107 -79 -53
Issuance of Debt		 1,492 208 2,301 5,537 2,333 3,046 695 3,653 1,822 840
Other Financing Activities, net		 -104 -76 23 -182 102 12 -101 -134 144 98
Other Net Changes in Cash		 -12 - - - 4.10 - -3.40 2.60 - -
Cash Interest Paid		 218 233 224 134 139 154 149 149 144 155
Cash Income Taxes Paid		 399 401 362 351 246 272 261 276 329 300

Quarterly Cash Flow Statements for CDW

This table details how cash moves in and out of CDW's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 -32 -439 281 -139 215 148 237 -76 -36 -69 -157
Net Cash From Operating Activities		 287 345 342 150 440 537 469 228 365 242 333
Net Cash From Continuing Operating Activities		 287 345 342 150 440 537 469 228 365 242 333
Net Income / (Loss) Continuing Operations		 225 264 316 281 216 296 316 263 230 287 298
Consolidated Net Income / (Loss)		 225 264 316 281 216 296 316 263 230 287 298
Depreciation Expense		 75 70 69 69 67 68 66 66 71 73 76
Non-Cash Adjustments To Reconcile Net Income		 29 29 10 34 24 25 30 27 27 21 30
Changes in Operating Assets and Liabilities, net		 -41 -17 -53 -235 133 148 57 -127 38 -139 -70
Net Cash From Investing Activities		 -32 -354 -245 -31 -30 -34 -49 -93 -54 -39 -34
Net Cash From Continuing Investing Activities		 -32 -354 -245 -31 -30 -34 -49 -93 -54 -39 -34
Purchase of Property, Plant & Equipment		 -27 -29 -34 -31 -30 -34 -43 -40 -32 -31 -34
Acquisitions		 -5.00 -324 - - -0.20 -0.20 -0.70 -53 -23 -8.70 -
Net Cash From Financing Activities		 -294 -416 179 -257 -193 -359 -180 -211 -348 -272 -456
Net Cash From Continuing Financing Activities		 -294 -416 179 -257 -193 -359 -180 -211 -348 -272 -456
Repayment of Debt		 -382 -473 -783 8.40 3.80 -44 -51 -219 -96 -675 -769
Repurchase of Common Equity		 -200 -146 -100 -202 -52 -50 -54 -196 -200 - -
Payment of Dividends		 -83 -83 -83 -83 -83 -83 -79 -79 -80 -80 -68
Issuance of Debt		 387 294 1,198 - - - 6.30 - - 447 375
Other Financing Activities, net		 -15 -8.60 -53 20 -61 -182 -2.80 82 27 36 6.50
Other Net Changes in Cash		 6.70 - - - -2.60 - -2.50 - - - -
Cash Interest Paid		 54 71 33 92 23 92 24 92 25 93 25
Cash Income Taxes Paid		 19 120 132 131 17 116 110 153 22 88 114

Annual Balance Sheets for CDW

This table presents CDW's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets		 14,678 13,285 13,132 13,199 9,345 7,999 7,168 6,967 6,958 6,755
Total Current Assets		 7,373 6,705 6,564 6,478 5,954 4,334 3,797 3,396 3,248 2,791
Cash & Equivalents		 504 589 315 258 1,410 154 206 144 264 38
Short-Term Investments		 214 0.00 - - - - - - - -
Accounts Receivable		 5,646 5,038 4,950 4,935 3,592 3,397 2,988 2,672 2,406 2,216
Inventories, net		 605 668 800 928 760 611 454 412 424 393
Prepaid Expenses		 404 410 498 358 191 172 149 168 154 144
Plant, Property, & Equipment, net		 192 196 189 196 176 363 156 161 0.00 175
Total Noncurrent Assets		 7,113 6,384 6,379 6,526 3,216 3,302 3,215 3,409 2,491 3,789
Goodwill		 4,620 4,413 4,343 4,383 2,596 2,553 2,463 2,480 2,455 2,500
Intangible Assets		 1,357 1,370 1,491 1,628 445 594 712 897 0.00 1,276
Other Noncurrent Operating Assets		 1,136 601 396 359 175 155 40 33 36 12
Total Liabilities & Shareholders' Equity		 14,678 13,285 13,132 13,199 9,345 7,999 7,168 6,967 0.00 6,755
Total Liabilities		 12,326 11,242 11,528 12,494 8,048 7,039 6,193 5,981 144 5,190
Total Current Liabilities		 5,474 5,442 4,947 5,096 3,898 3,491 2,803 2,522 2,288 1,887
Short-Term Debt		 236 613 56 103 71 34 25 26 0.00 27
Accounts Payable		 3,737 3,312 3,340 3,563 2,613 2,265 2,006 1,816 0.00 1,306
Accrued Expenses		 674 674 614 146 153 148 119 89 0.00 219
Current Employee Benefit Liabilities		 276 303 378 362 288 212 186 130 0.00 120
Other Taxes Payable		 62 52 74 66 104 89 56 60 0.00 38
Other Current Liabilities		 491 487 - 858 669 744 410 402 144 -
Total Noncurrent Liabilities		 6,851 5,800 6,581 7,398 4,149 3,548 3,389 3,459 0.00 3,772
Long-Term Debt		 5,607 5,032 5,866 6,756 3,856 3,283 3,183 3,210 0.00 3,233
Noncurrent Deferred & Payable Income Tax Liabilities		 167 171 203 222 55 62 142 196 0.00 -
Other Noncurrent Operating Liabilities		 1,077 597 336 235 238 202 64 53 0.00 70
Commitments & Contingencies		 0.00 0.00 0.00 - 0.00 - - - - -
Total Equity & Noncontrolling Interests		 2,353 2,043 1,603 706 1,297 960 975 986 0.00 1,096
Total Preferred & Common Equity		 2,353 2,043 1,603 706 1,297 960 975 986 1,048 1,096
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,353 2,043 1,603 706 1,297 960 975 987 0.00 1,096
Common Stock		 3,836 3,693 3,520 3,371 3,206 3,097 2,998 2,915 0.00 2,809
Retained Earnings		 -1,323 -1,526 -1,764 -2,571 -1,813 -2,019 -1,893 -1,832 0.00 -1,652
Accumulated Other Comprehensive Income / (Loss)		 -160 -125 -152 -94 -96 -118 -131 -96 0.00 -61

Quarterly Balance Sheets for CDW

This table presents CDW's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Total Assets		 15,019 14,678 14,377 13,639 13,193 13,285 12,875 12,986 12,768 13,132 13,476
Total Current Assets		 7,652 7,373 7,662 7,044 6,634 6,705 6,458 6,488 6,280 6,564 6,895
Cash & Equivalents		 471 504 947 665 804 589 441 204 279 315 385
Short-Term Investments		 217 214 212 - - 0.00 - - - - -
Accounts Receivable		 5,858 5,646 5,414 5,264 4,793 5,038 4,908 5,015 4,732 4,950 5,036
Inventories, net		 720 605 683 725 671 668 706 790 781 800 915
Prepaid Expenses		 385 404 407 389 367 410 403 479 488 498 560
Plant, Property, & Equipment, net		 188 192 193 187 190 196 195 194 187 189 188
Total Noncurrent Assets		 7,179 7,113 6,522 6,408 6,369 6,384 6,222 6,304 6,301 6,379 6,392
Goodwill		 4,636 4,620 4,425 4,409 4,410 4,413 4,417 4,428 4,366 4,343 4,328
Intangible Assets		 1,314 1,357 1,260 1,295 1,331 1,370 1,385 1,425 1,455 1,491 1,526
Other Noncurrent Operating Assets		 1,228 1,136 709 573 493 601 287 314 335 396 539
Total Liabilities & Shareholders' Equity		 15,019 14,678 14,377 13,639 13,193 13,285 12,875 12,986 12,768 13,132 13,476
Total Liabilities		 12,695 12,326 12,027 11,464 11,054 11,242 11,065 11,373 11,199 11,528 12,150
Total Current Liabilities		 5,782 5,474 5,459 6,208 5,261 5,442 4,782 4,997 4,778 4,947 5,359
Short-Term Debt		 231 236 423 1,204 605 613 40 42 46 56 58
Accounts Payable		 3,972 3,737 3,537 3,523 3,126 3,312 3,237 3,483 3,176 3,340 3,730
Accrued Expenses		 708 674 712 654 700 674 715 670 642 614 716
Current Deferred Revenue		 521 - 475 451 470 - 439 442 - 486 -
Current Employee Benefit Liabilities		 226 276 247 296 251 303 271 281 288 378 359
Other Taxes Payable		 124 62 65 81 110 52 80 79 130 74 -
Total Noncurrent Liabilities		 6,914 6,851 6,569 5,256 5,793 5,800 6,283 6,375 6,421 6,581 6,791
Long-Term Debt		 5,622 5,607 5,608 4,425 5,028 5,032 5,662 5,721 5,750 5,866 6,100
Capital Lease Obligations		 141 - 159 162 168 - 169 174 171 175 180
Noncurrent Deferred & Payable Income Tax Liabilities		 155 167 145 152 162 171 172 180 193 203 208
Other Noncurrent Operating Liabilities		 996 1,077 658 518 436 597 281 301 307 336 303
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Total Equity & Noncontrolling Interests		 2,323 2,353 2,349 2,175 2,139 2,043 1,810 1,613 1,569 1,603 1,326
Total Preferred & Common Equity		 2,323 2,353 2,349 2,175 2,139 2,043 1,810 1,613 1,569 1,603 1,326
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,323 2,353 2,349 2,175 2,139 2,043 1,810 1,613 1,569 1,603 1,326
Common Stock		 3,868 3,836 3,809 3,791 3,746 3,693 3,646 3,601 3,559 3,520 3,483
Retained Earnings		 -1,402 -1,323 -1,351 -1,481 -1,474 -1,526 -1,687 -1,863 -1,847 -1,764 -1,969
Accumulated Other Comprehensive Income / (Loss)		 -143 -160 -108 -135 -133 -125 -150 -125 -143 -152 -188

Annual Metrics And Ratios for CDW

This table displays calculated financial ratios and metrics derived from CDW's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -1.77% -9.99% 14.06% 12.74% 2.41% 11.03% 9.49% 8.49% 5.27% 7.57%
EBITDA Growth		 -1.15% -3.31% 22.82% 3.61% 15.01% 9.68% 17.03% -0.39% 1.10% 19.62%
EBIT Growth		 -1.60% -2.71% 18.97% 25.19% 4.34% 12.13% 21.93% -1.29% -1.08% 22.95%
NOPAT Growth		 -3.13% -1.53% 20.25% 16.52% 5.48% 16.44% 10.10% 32.49% 12.01% 8.74%
Net Income Growth		 -2.40% -0.92% 12.74% 25.38% 7.02% 14.59% 22.92% 23.05% 5.46% 64.60%
EPS Growth		 -1.60% -0.37% 15.48% 29.17% 9.22% 19.09% 26.59% 29.30% 8.94% 65.49%
Operating Cash Flow Growth		 -20.10% 19.67% 70.27% -40.30% 27.95% 13.39% 16.48% 28.76% 117.66% -36.21%
Free Cash Flow Firm Growth		 -45.08% 11.62% 154.10% -309.78% 68.58% -14.09% -55.99% 138,604.59% 99.20% -129.80%
Invested Capital Growth		 5.34% -3.89% -1.39% 96.38% -7.51% 3.66% -2.43% -23.54% 10.79% 15.29%
Revenue Q/Q Growth		 0.80% -1.93% -0.41% 2.87% 2.32% 2.63% 2.03% 3.99% -1.69% 2.92%
EBITDA Q/Q Growth		 -1.26% -0.56% 6.97% -1.61% 4.27% 2.48% 6.92% -2.89% 1.19% 2.39%
EBIT Q/Q Growth		 -1.55% -0.39% 6.81% -0.10% 5.26% 2.84% 8.80% -4.00% 2.16% 1.76%
NOPAT Q/Q Growth		 -2.46% 0.16% 6.75% -1.20% 5.17% 4.25% -5.67% 20.47% 2.45% 1.92%
Net Income Q/Q Growth		 -2.87% 0.81% 6.90% -2.27% 7.16% 3.70% -5.22% 21.00% 3.56% 10.26%
EPS Q/Q Growth		 -2.57% 1.12% 6.83% -1.12% 7.50% 4.61% -4.12% 21.69% 4.92% 10.33%
Operating Cash Flow Q/Q Growth		 -13.02% 22.59% 7.57% -35.30% 21.32% 4.19% -3.72% 43.01% 25.34% -26.86%
Free Cash Flow Firm Q/Q Growth		 -23.85% 18.95% 200.05% -611.54% 43.31% -21.25% 4.97% 106.52% -100.19% -87.01%
Invested Capital Q/Q Growth		 1.32% -1.95% 1.47% 60.80% -6.32% 1.75% -3.93% -1.85% 17.85% 1.12%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 21.92% 21.76% 19.73% 17.14% 17.38% 16.86% 16.67% 16.52% 17.03% 16.29%
EBITDA Margin		 9.17% 9.11% 8.48% 7.88% 8.57% 7.63% 7.73% 7.23% 7.87% 8.20%
Operating Margin		 7.86% 7.86% 7.31% 6.82% 6.39% 6.29% 6.08% 5.84% 6.00% 5.71%
EBIT Margin		 7.86% 7.84% 7.26% 6.96% 6.27% 6.15% 6.09% 5.47% 6.01% 6.40%
Profit (Net Income) Margin		 5.13% 5.17% 4.69% 4.75% 4.27% 4.09% 3.96% 3.53% 3.11% 3.10%
Tax Burden Percent		 75.09% 76.15% 74.91% 76.18% 78.67% 77.58% 76.50% 79.17% 63.15% 62.30%
Interest Burden Percent		 87.00% 86.49% 86.32% 89.58% 86.61% 85.63% 84.98% 81.45% 81.92% 77.88%
Effective Tax Rate		 24.91% 23.85% 25.09% 23.82% 21.33% 22.42% 23.50% 20.83% 36.85% 37.70%
Return on Invested Capital (ROIC)		 17.01% 17.67% 17.48% 19.12% 23.37% 21.71% 18.75% 14.58% 10.21% 10.29%
ROIC Less NNEP Spread (ROIC-NNEP)		 13.83% 14.43% 14.53% 17.14% 18.47% 17.08% 15.07% 10.71% 8.16% 8.59%
Return on Net Nonoperating Assets (RNNOA)		 32.03% 42.91% 79.06% 79.60% 46.49% 54.42% 46.83% 91.57% 67.37% 29.38%
Return on Equity (ROE)		 49.04% 60.58% 96.54% 98.72% 69.86% 76.14% 65.59% 106.15% 77.58% 39.67%
Cash Return on Invested Capital (CROIC)		 11.81% 21.64% 18.88% -45.92% 31.17% 18.12% 21.21% 41.26% -0.03% -3.92%
Operating Return on Assets (OROA)		 11.80% 12.70% 13.09% 12.85% 13.34% 14.63% 14.00% 11.65% 11.99% 12.95%
Return on Assets (ROA)		 7.71% 8.36% 8.47% 8.77% 9.09% 9.72% 9.10% 7.51% 6.20% 6.28%
Return on Common Equity (ROCE)		 49.04% 60.58% 96.54% 98.72% 69.86% 76.14% 65.64% 106.31% 77.58% 39.67%
Return on Equity Simple (ROE_SIMPLE)		 45.81% 54.07% 69.51% 140.09% 60.79% 76.73% 65.94% 53.07% 40.57% 36.78%
Net Operating Profit after Tax (NOPAT)		 1,240 1,280 1,300 1,081 928 879 755 686 518 462
NOPAT Margin		 5.90% 5.99% 5.47% 5.19% 5.02% 4.88% 4.65% 4.63% 3.79% 3.56%
Net Nonoperating Expense Percent (NNEP)		 3.18% 3.24% 2.95% 1.99% 4.90% 4.63% 3.69% 3.87% 2.05% 1.70%
Return On Investment Capital (ROIC_SIMPLE)		 15.13% 16.65% 16.88% - - - - - - -
Cost of Revenue to Revenue		 78.08% 78.24% 80.27% 82.86% 82.62% 83.14% 83.33% 83.48% 82.97% 83.71%
SG&A Expenses to Revenue		 14.05% 13.90% 12.43% 10.32% 11.00% 10.57% 10.59% 9.51% 9.84% 9.44%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 14.05% 13.90% 12.43% 10.32% 11.00% 10.57% 10.59% 10.68% 11.03% 10.58%
Earnings before Interest and Taxes (EBIT)		 1,650 1,677 1,724 1,449 1,157 1,109 989 811 822 831
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,925 1,948 2,014 1,640 1,583 1,376 1,255 1,072 1,076 1,065
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 9.86 14.74 14.73 38.25 13.98 20.30 11.71 10.01 0.00 5.90
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.10 1.41 0.99 1.30 0.98 1.08 0.70 0.67 0.56 0.50
Price to Earnings (P/E)		 21.52 27.26 21.19 27.31 22.99 26.46 17.76 18.88 18.06 16.04
Dividend Yield		 1.43% 1.06% 1.20% 0.85% 1.21% 0.93% 1.22% 1.07% 1.01% 0.81%
Earnings Yield		 4.65% 3.67% 4.72% 3.66% 4.35% 3.78% 5.63% 5.30% 5.54% 6.24%
Enterprise Value to Invested Capital (EV/IC)		 3.79 4.95 3.98 4.51 5.41 5.49 3.63 3.18 1.39 2.01
Enterprise Value to Revenue (EV/Rev)		 1.35 1.65 1.24 1.62 1.12 1.26 0.89 0.87 0.54 0.75
Enterprise Value to EBITDA (EV/EBITDA)		 14.71 18.06 14.60 20.60 13.04 16.46 11.49 12.10 6.89 9.10
Enterprise Value to EBIT (EV/EBIT)		 17.16 20.97 17.06 23.32 17.84 20.43 14.58 15.99 9.02 11.66
Enterprise Value to NOPAT (EV/NOPAT)		 22.84 27.47 22.62 31.25 22.26 25.76 19.09 18.90 14.32 20.95
Enterprise Value to Operating Cash Flow (EV/OCF)		 22.17 22.00 22.01 43.05 15.71 22.06 15.92 16.67 12.27 34.90
Enterprise Value to Free Cash Flow (EV/FCFF)		 32.90 22.44 20.94 0.00 16.69 30.87 16.88 6.68 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 2.48 2.76 3.80 9.98 3.03 3.45 3.29 3.28 0.00 2.97
Long-Term Debt to Equity		 2.38 2.46 3.77 9.83 2.97 3.42 3.26 3.26 0.00 2.95
Financial Leverage		 2.32 2.97 5.44 4.64 2.52 3.19 3.11 8.55 8.26 3.42
Leverage Ratio		 6.36 7.25 11.40 11.26 7.68 7.84 7.21 14.13 12.51 6.31
Compound Leverage Factor		 5.54 6.27 9.84 10.08 6.65 6.71 6.13 11.51 10.25 4.92
Debt to Total Capital		 71.29% 73.43% 79.18% 90.89% 75.17% 77.55% 76.69% 76.65% 0.00% 74.84%
Short-Term Debt to Total Capital		 2.88% 7.98% 0.73% 1.33% 1.36% 0.80% 0.60% 0.60% 0.00% 0.62%
Long-Term Debt to Total Capital		 68.42% 65.46% 78.45% 89.57% 73.81% 76.75% 76.09% 76.05% 0.00% 74.21%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 28.71% 26.57% 20.82% 9.11% 24.83% 22.45% 23.31% 23.38% 0.00% 25.16%
Debt to EBITDA		 3.03 2.90 3.03 4.29 2.48 2.41 2.56 3.02 0.00 3.06
Net Debt to EBITDA		 2.66 2.60 2.87 4.14 1.59 2.30 2.39 2.88 0.00 3.03
Long-Term Debt to EBITDA		 2.91 2.58 3.00 4.23 2.44 2.39 2.54 2.99 0.00 3.04
Debt to NOPAT		 4.71 4.41 4.69 6.52 4.23 3.77 4.25 4.72 0.00 7.05
Net Debt to NOPAT		 4.13 3.95 4.45 6.28 2.71 3.60 3.98 4.51 0.00 6.97
Long-Term Debt to NOPAT		 4.52 3.93 4.65 6.42 4.16 3.73 4.21 4.68 0.00 6.99
Altman Z-Score		 2.96 3.59 3.43 3.09 3.73 4.15 3.62 3.29 34.62 2.89
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.08% -0.15% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 1.35 1.23 1.33 1.27 1.53 1.24 1.35 1.35 1.42 1.48
Quick Ratio		 1.16 1.03 1.06 1.02 1.28 1.02 1.14 1.12 1.17 1.19
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 861 1,567 1,404 -2,595 1,237 734 854 1,941 -1.40 -176
Operating Cash Flow to CapEx		 1,041.84% 1,078.74% 1,045.31% 784.60% 831.84% 434.70% 1,052.15% 958.94% 951.18% 307.99%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -17.20 7.99 4.60 5.75 12.90 -0.01 -0.96
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 5.20 8.48 6.44 6.10 5.17 4.06 1.51
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 4.54 7.46 4.96 5.52 4.63 3.64 1.02
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 1.50 1.62 1.80 1.85 2.13 2.38 2.30 2.13 1.99 2.02
Accounts Receivable Turnover		 3.93 4.28 4.80 4.88 5.28 5.65 5.74 5.84 5.92 6.61
Inventory Turnover		 25.75 22.78 22.07 20.45 22.25 28.14 31.26 29.65 27.77 29.76
Fixed Asset Turnover		 108.38 111.25 123.50 112.15 68.58 69.46 102.40 0.00 0.00 83.10
Accounts Payable Turnover		 4.65 5.03 5.52 5.59 6.26 7.02 7.08 0.00 0.00 9.28
Days Sales Outstanding (DSO)		 92.85 85.28 75.96 74.74 69.07 64.62 63.60 62.49 61.70 55.25
Days Inventory Outstanding (DIO)		 14.17 16.02 16.54 17.85 16.40 12.97 11.68 12.31 13.14 12.26
Days Payable Outstanding (DPO)		 78.45 72.59 66.09 65.33 58.35 51.99 51.54 0.00 0.00 39.31
Cash Conversion Cycle (CCC)		 28.57 28.71 26.42 27.27 27.13 25.60 23.74 74.80 74.84 28.20
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 7,478 7,099 7,386 7,490 3,814 4,124 3,978 4,077 5,332 4,813
Invested Capital Turnover		 2.88 2.95 3.19 3.68 4.65 4.45 4.03 3.15 2.70 2.89
Increase / (Decrease) in Invested Capital		 379 -287 -104 3,676 -310 146 -99 -1,255 519 638
Enterprise Value (EV)		 28,318 35,165 29,400 33,779 20,646 22,657 14,421 12,968 7,413 9,686
Market Capitalization		 23,193 30,109 23,618 26,995 18,129 19,493 11,418 9,877 7,677 6,464
Book Value per Share		 $17.65 $15.25 $11.84 $5.20 $9.07 $6.68 $6.50 $6.45 $0.00 $6.47
Tangible Book Value per Share		 ($27.20) ($27.92) ($31.24) ($39.09) ($12.20) ($15.22) ($14.67) ($15.61) ($15.30) ($15.84)
Total Capital		 8,196 7,687 7,701 7,748 5,224 4,278 4,184 4,221 0.00 4,356
Total Debt		 5,843 5,645 6,098 7,043 3,927 3,317 3,209 3,236 0.00 3,260
Total Long-Term Debt		 5,607 5,032 6,042 6,940 3,856 3,283 3,183 3,210 0.00 3,233
Net Debt		 5,125 5,056 5,783 6,785 2,517 3,163 3,003 3,091 -264 3,222
Capital Expenditures (CapEx)		 123 148 128 100 158 236 86 81 64 90
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,417 1,287 1,358 1,227 716 723 813 756 696 893
Debt-free Net Working Capital (DFNWC)		 2,135 1,876 1,673 1,485 2,126 877 1,019 900 960 931
Net Working Capital (NWC)		 1,899 1,263 1,617 1,382 2,055 843 994 874 960 904
Net Nonoperating Expense (NNE)		 162 176 185 92 139 143 112 163 93 59
Net Nonoperating Obligations (NNO)		 5,125 5,056 5,783 6,785 2,517 3,163 3,003 3,091 5,332 3,717
Total Depreciation and Amortization (D&A)		 275 271 291 191 426 267 266 261 255 234
Debt-free, Cash-free Net Working Capital to Revenue		 6.75% 6.02% 5.72% 5.89% 3.88% 4.01% 5.01% 5.09% 5.09% 6.88%
Debt-free Net Working Capital to Revenue		 10.16% 8.78% 7.05% 7.13% 11.51% 4.86% 6.27% 6.07% 7.02% 7.17%
Net Working Capital to Revenue		 9.04% 5.91% 6.81% 6.64% 11.13% 4.67% 6.12% 5.89% 7.02% 6.96%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $8.06 $8.20 $8.24 $7.14 $5.53 $5.08 $4.26 $3.37 $2.59 $2.37
Adjusted Weighted Average Basic Shares Outstanding		 133.80M 134.60M 135.20M 138.50M 142.60M 145.10M 150.90M 155.40M 163.60M 170.30M
Adjusted Diluted Earnings per Share		 $7.97 $8.10 $8.13 $7.04 $5.45 $4.99 $4.19 $3.31 $2.56 $2.35
Adjusted Weighted Average Diluted Shares Outstanding		 135.20M 136.30M 137M 140.50M 144.80M 147.80M 153.60M 158.20M 166M 171.80M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $5.08 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 132.49M 134.22M 135.59M 134.94M 140.99M 142.77M 147.06M 152.42M 159.37M 167.74M
Normalized Net Operating Profit after Tax (NOPAT)		 1,240 1,280 1,300 1,081 928 879 755 686 518 462
Normalized NOPAT Margin		 5.90% 5.99% 5.47% 5.19% 5.02% 4.88% 4.65% 4.63% 3.79% 3.56%
Pre Tax Income Margin		 6.84% 6.78% 6.26% 6.23% 5.43% 5.27% 5.18% 4.45% 4.92% 4.98%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 9.60 7.47 6.96 6.66 5.39 5.53 4.52
NOPAT to Interest Expense		 0.00 0.00 0.00 7.16 5.99 5.52 5.08 4.56 3.48 2.52
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 8.94 6.45 5.48 6.08 4.85 5.10 4.03
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 6.50 4.97 4.04 4.50 4.02 3.06 2.03
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 30.81% 29.11% 25.36% 23.75% 27.85% 24.89% 21.68% 20.44% 18.51% 13.12%
Augmented Payout Ratio		 77.20% 74.39% 25.36% 175.52% 71.05% 114.09% 102.91% 122.52% 104.94% 72.98%

Quarterly Metrics And Ratios for CDW

This table displays calculated financial ratios and metrics derived from CDW's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 6.70% 3.34% -1.98% -3.60% -4.51% -7.72% -9.45% -8.46% -14.22% -1.78% 17.27%
EBITDA Growth		 10.32% -4.90% 1.45% 5.01% -6.95% -2.14% 1.12% -5.63% -7.23% 34.35% 23.49%
EBIT Growth		 10.13% -5.99% 1.01% 4.96% -7.37% -1.50% 3.38% -5.36% -8.39% 33.23% 19.34%
NOPAT Growth		 4.33% -9.23% -0.89% 4.68% -7.13% 0.55% 3.29% -4.97% -5.83% 32.33% 18.41%
Net Income Growth		 4.07% -10.77% 0.29% 7.04% -6.08% 3.10% 5.94% -5.98% -8.03% 33.40% 11.70%
EPS Growth		 6.29% -9.63% 0.86% 7.81% -5.36% 4.31% 6.91% -5.88% -8.20% 33.12% 13.61%
Operating Cash Flow Growth		 -34.73% -35.64% -27.00% -34.31% 20.42% 121.79% 40.76% -39.99% -4.04% 63.56% 14.09%
Free Cash Flow Firm Growth		 -159.98% -111.51% -45.97% 26.17% 19.77% 41.94% 117.56% 111.49% 111.34% 112.88% -676.54%
Invested Capital Growth		 6.92% 5.34% 1.94% -0.63% -1.67% -3.89% -0.54% 0.21% -0.54% -1.39% 56.27%
Revenue Q/Q Growth		 0.25% -5.99% 1.72% 11.30% -2.91% -10.83% 0.04% 10.25% -6.16% -12.50% 1.13%
EBITDA Q/Q Growth		 -8.69% -13.36% 9.91% 26.87% -21.29% -7.57% 13.76% 12.43% -17.23% -4.49% 6.17%
EBIT Q/Q Growth		 -11.50% -15.35% 11.57% 31.75% -24.45% -9.05% 15.94% 16.27% -19.66% -4.55% 6.14%
NOPAT Q/Q Growth		 -12.94% -13.82% 11.14% 25.12% -24.26% -5.90% 17.38% 11.01% -18.00% -3.34% 8.00%
Net Income Q/Q Growth		 -14.88% -16.50% 12.56% 30.08% -27.02% -6.15% 20.14% 14.12% -19.88% -3.56% 6.62%
EPS Q/Q Growth		 -14.21% -15.81% 13.04% 30.19% -27.06% -6.03% 20.83% 14.29% -19.62% -3.69% 6.37%
Operating Cash Flow Q/Q Growth		 -16.83% 0.94% 128.22% -65.93% -17.99% 14.49% 105.35% -37.55% 51.05% -27.34% -12.46%
Free Cash Flow Firm Q/Q Growth		 -214.71% -133.38% -41.26% -2.79% -18.19% 56.75% 37.17% -7.71% -28.46% 119.39% 10.23%
Invested Capital Q/Q Growth		 2.02% 1.32% 1.11% 2.31% -1.76% -1.95% -1.45% 1.24% -1.76% 1.47% -0.70%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 21.59% 22.28% 21.77% 21.81% 21.82% 22.99% 21.81% 21.00% 21.35% 21.72% 19.84%
EBITDA Margin		 8.39% 9.21% 9.99% 9.25% 8.11% 10.01% 9.65% 8.49% 8.32% 9.43% 8.64%
Operating Margin		 6.95% 7.88% 8.73% 7.99% 6.73% 8.67% 8.50% 7.33% 6.96% 8.21% 7.50%
EBIT Margin		 6.95% 7.87% 8.74% 7.97% 6.73% 8.65% 8.48% 7.32% 6.94% 8.10% 7.43%
Profit (Net Income) Margin		 4.33% 5.09% 5.74% 5.18% 4.43% 5.90% 5.61% 4.67% 4.51% 5.28% 4.79%
Tax Burden Percent		 73.98% 75.16% 73.99% 74.03% 78.13% 77.78% 75.15% 74.31% 77.66% 75.34% 74.64%
Interest Burden Percent		 84.19% 86.15% 88.71% 87.89% 84.36% 87.72% 87.97% 85.86% 83.70% 86.52% 86.44%
Effective Tax Rate		 26.02% 24.84% 26.01% 25.97% 21.87% 22.22% 24.85% 25.69% 22.34% 24.66% 25.36%
Return on Invested Capital (ROIC)		 14.86% 17.06% 18.41% 16.91% 15.46% 19.90% 19.18% 16.61% 17.02% 19.75% 22.38%
ROIC Less NNEP Spread (ROIC-NNEP)		 14.03% 16.22% 17.64% 16.18% 14.70% 19.12% 18.41% 15.87% 16.26% 18.97% 21.35%
Return on Net Nonoperating Assets (RNNOA)		 32.40% 37.57% 44.38% 46.38% 42.37% 56.84% 66.81% 69.80% 79.85% 103.25% 96.47%
Return on Equity (ROE)		 47.25% 54.63% 62.78% 63.28% 57.82% 76.74% 85.99% 86.41% 96.87% 123.00% 118.84%
Cash Return on Invested Capital (CROIC)		 10.26% 11.81% 15.46% 18.04% 19.20% 21.64% 18.15% 17.05% 18.17% 18.88% -23.51%
Operating Return on Assets (OROA)		 10.50% 11.82% 13.36% 12.53% 10.96% 14.00% 14.03% 12.29% 12.09% 14.61% 15.75%
Return on Assets (ROA)		 6.54% 7.65% 8.77% 8.15% 7.22% 9.55% 9.27% 7.84% 7.86% 9.53% 10.16%
Return on Common Equity (ROCE)		 47.25% 54.63% 62.78% 63.28% 57.82% 76.74% 85.99% 86.41% 96.87% 123.00% 118.84%
Return on Equity Simple (ROE_SIMPLE)		 46.77% 0.00% 47.24% 50.98% 50.98% 0.00% 60.52% 66.81% 69.76% 0.00% 78.63%
Net Operating Profit after Tax (NOPAT)		 267 307 356 321 256 338 360 306 276 336 348
NOPAT Margin		 5.14% 5.92% 6.46% 5.91% 5.26% 6.74% 6.39% 5.44% 5.41% 6.19% 5.60%
Net Nonoperating Expense Percent (NNEP)		 0.82% 0.84% 0.76% 0.73% 0.75% 0.78% 0.77% 0.73% 0.76% 0.78% 1.03%
Return On Investment Capital (ROIC_SIMPLE)		 3.21% 3.75% - - - 4.40% - - - 4.37% -
Cost of Revenue to Revenue		 78.41% 77.72% 78.23% 78.19% 78.18% 77.01% 78.19% 79.00% 78.65% 78.28% 80.16%
SG&A Expenses to Revenue		 14.64% 14.40% 13.04% 13.83% 15.09% 14.32% 13.31% 13.67% 14.39% 13.51% 12.34%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 14.64% 14.40% 13.04% 13.83% 15.09% 14.32% 13.31% 13.67% 14.39% 13.51% 12.34%
Earnings before Interest and Taxes (EBIT)		 361 408 482 432 328 434 477 412 354 441 462
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 436 478 551 501 395 502 543 478 425 513 537
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 9.14 9.86 12.87 13.83 15.98 14.74 14.78 15.17 16.60 14.73 15.60
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.00 1.10 1.45 1.44 1.62 1.41 1.23 1.09 1.14 0.99 0.87
Price to Earnings (P/E)		 19.54 21.52 27.24 27.13 31.34 27.26 24.43 22.70 23.80 21.19 19.84
Dividend Yield		 1.55% 1.43% 1.10% 1.09% 0.95% 1.06% 1.18% 1.25% 1.13% 1.20% 1.31%
Earnings Yield		 5.12% 4.65% 3.67% 3.69% 3.19% 3.67% 4.09% 4.41% 4.20% 4.72% 5.04%
Enterprise Value to Invested Capital (EV/IC)		 3.48 3.79 4.78 4.82 5.49 4.95 4.45 4.11 4.37 3.98 3.66
Enterprise Value to Revenue (EV/Rev)		 1.24 1.35 1.69 1.68 1.85 1.65 1.48 1.35 1.39 1.24 1.12
Enterprise Value to EBITDA (EV/EBITDA)		 13.50 14.71 18.08 18.13 20.42 18.06 16.43 15.47 16.02 14.60 14.15
Enterprise Value to EBIT (EV/EBIT)		 15.77 17.16 21.04 21.07 23.73 20.97 19.12 18.11 18.77 17.06 16.51
Enterprise Value to NOPAT (EV/NOPAT)		 21.21 22.84 27.74 27.63 31.08 27.47 25.19 23.84 24.74 22.62 21.88
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.60 22.17 24.01 22.07 23.41 22.00 24.68 25.85 24.03 22.01 21.45
Enterprise Value to Free Cash Flow (EV/FCFF)		 35.03 32.90 31.19 26.65 28.35 22.44 24.43 24.13 24.01 20.94 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.58 2.48 2.63 2.66 2.71 2.76 3.24 3.68 3.80 3.80 4.78
Long-Term Debt to Equity		 2.48 2.38 2.45 2.11 2.43 2.46 3.22 3.65 3.77 3.77 4.74
Financial Leverage		 2.31 2.32 2.52 2.87 2.88 2.97 3.63 4.40 4.91 5.44 4.52
Leverage Ratio		 6.32 6.36 6.55 7.03 7.00 7.25 8.40 9.80 10.68 11.40 10.40
Compound Leverage Factor		 5.32 5.48 5.81 6.18 5.91 6.36 7.39 8.41 8.94 9.87 8.99
Debt to Total Capital		 72.07% 71.29% 72.49% 72.69% 73.06% 73.43% 76.43% 78.63% 79.18% 79.18% 82.70%
Short-Term Debt to Total Capital		 2.77% 2.88% 4.96% 15.11% 7.62% 7.98% 0.52% 0.56% 0.61% 0.73% 0.75%
Long-Term Debt to Total Capital		 69.29% 68.42% 67.53% 57.58% 65.44% 65.46% 75.91% 78.07% 78.57% 78.45% 81.94%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 27.93% 28.71% 27.51% 27.31% 26.94% 26.57% 23.57% 21.37% 20.82% 20.82% 17.30%
Debt to EBITDA		 3.05 3.03 3.17 2.98 3.02 2.90 3.00 3.04 3.01 3.03 3.37
Net Debt to EBITDA		 2.70 2.66 2.58 2.64 2.60 2.60 2.77 2.94 2.87 2.87 3.16
Long-Term Debt to EBITDA		 2.93 2.91 2.96 2.36 2.71 2.58 2.98 3.02 2.99 3.00 3.34
Debt to NOPAT		 4.79 4.71 4.87 4.54 4.60 4.41 4.59 4.69 4.65 4.69 5.21
Net Debt to NOPAT		 4.24 4.13 3.96 4.02 3.96 3.95 4.25 4.53 4.43 4.45 4.89
Long-Term Debt to NOPAT		 4.61 4.52 4.54 3.60 4.12 3.93 4.56 4.65 4.62 4.65 5.16
Altman Z-Score		 2.52 2.68 3.12 3.14 3.51 3.28 3.24 3.06 3.22 3.11 2.84
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.32 1.35 1.40 1.13 1.26 1.23 1.35 1.30 1.31 1.33 1.29
Quick Ratio		 1.13 1.16 1.20 0.96 1.06 1.03 1.12 1.04 1.05 1.06 1.01
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -227 -72 216 367 378 626 399 291 315 441 -2,273
Operating Cash Flow to CapEx		 1,067.66% 1,207.34% 1,018.15% 485.11% 1,491.53% 1,601.49% 1,079.72% 576.26% 1,152.68% 790.52% 990.77%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 7.02 7.36 0.00 0.00 5.00 5.46 0.00 -36.31
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 2.87 8.58 0.00 0.00 3.92 6.33 0.00 5.32
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 2.28 8.00 0.00 0.00 3.24 5.78 0.00 4.78
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.51 1.50 1.53 1.57 1.63 1.62 1.65 1.68 1.74 1.80 2.12
Accounts Receivable Turnover		 4.00 3.93 4.04 4.07 4.44 4.28 4.38 4.50 4.68 4.80 5.30
Inventory Turnover		 23.96 25.75 23.37 21.54 22.76 22.78 21.12 19.56 19.86 22.07 22.02
Fixed Asset Turnover		 112.68 108.38 107.38 109.85 112.00 111.25 113.85 115.05 119.60 123.50 129.85
Accounts Payable Turnover		 4.70 4.65 4.79 4.66 5.24 5.03 4.91 4.88 5.25 5.52 6.10
Days Sales Outstanding (DSO)		 91.15 92.85 90.43 89.58 82.20 85.28 83.26 81.16 78.05 75.96 68.81
Days Inventory Outstanding (DIO)		 15.23 14.17 15.62 16.94 16.04 16.02 17.28 18.66 18.38 16.54 16.58
Days Payable Outstanding (DPO)		 77.74 78.45 76.17 78.37 69.62 72.59 74.28 74.78 69.47 66.09 59.84
Cash Conversion Cycle (CCC)		 28.65 28.57 29.88 28.15 28.62 28.71 26.27 25.04 26.96 26.42 25.54
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7,629 7,478 7,380 7,300 7,135 7,099 7,240 7,346 7,256 7,386 7,279
Invested Capital Turnover		 2.89 2.88 2.85 2.86 2.94 2.95 3.00 3.05 3.15 3.19 4.00
Increase / (Decrease) in Invested Capital		 494 379 141 -47 -121 -287 -40 15 -39 -104 2,621
Enterprise Value (EV)		 26,539 28,318 35,259 35,208 39,170 35,165 32,187 30,199 31,736 29,400 26,636
Market Capitalization		 21,233 23,193 30,228 30,084 34,174 30,109 26,758 24,466 26,049 23,618 20,683
Book Value per Share		 $17.53 $17.65 $17.59 $16.18 $15.91 $15.25 $13.50 $11.97 $11.57 $11.84 $9.80
Tangible Book Value per Share		 ($27.38) ($27.20) ($24.97) ($26.26) ($26.80) ($27.92) ($29.78) ($31.45) ($31.36) ($31.24) ($33.47)
Total Capital		 8,317 8,196 8,539 7,965 7,939 7,687 7,680 7,550 7,536 7,701 7,664
Total Debt		 5,994 5,843 6,189 5,790 5,800 5,645 5,870 5,937 5,967 6,098 6,338
Total Long-Term Debt		 5,763 5,607 5,766 4,587 5,195 5,032 5,830 5,895 5,921 6,042 6,280
Net Debt		 5,306 5,125 5,031 5,125 4,996 5,056 5,430 5,733 5,687 5,783 5,953
Capital Expenditures (CapEx)		 27 29 34 31 30 34 43 40 32 31 34
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,413 1,417 1,468 1,374 1,174 1,287 1,276 1,329 1,268 1,358 1,210
Debt-free Net Working Capital (DFNWC)		 2,101 2,135 2,626 2,039 1,978 1,876 1,716 1,533 1,548 1,673 1,594
Net Working Capital (NWC)		 1,870 1,899 2,203 836 1,373 1,263 1,676 1,491 1,502 1,617 1,536
Net Nonoperating Expense (NNE)		 42 43 40 40 40 42 44 44 46 49 50
Net Nonoperating Obligations (NNO)		 5,306 5,125 5,031 5,125 4,996 5,056 5,430 5,733 5,687 5,783 5,953
Total Depreciation and Amortization (D&A)		 75 70 69 69 67 68 66 66 71 73 76
Debt-free, Cash-free Net Working Capital to Revenue		 6.62% 6.75% 7.05% 6.56% 5.55% 6.02% 5.85% 5.94% 5.54% 5.72% 5.07%
Debt-free Net Working Capital to Revenue		 9.85% 10.16% 12.61% 9.74% 9.35% 8.78% 7.87% 6.85% 6.76% 7.05% 6.69%
Net Working Capital to Revenue		 8.77% 9.04% 10.58% 3.99% 6.49% 5.91% 7.69% 6.66% 6.56% 6.81% 6.44%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.70 $1.98 $2.37 $2.10 $1.61 $2.20 $2.35 $1.95 $1.70 $2.12 $2.20
Adjusted Weighted Average Basic Shares Outstanding		 132.50M 133.80M 133.50M 134.10M 134.40M 134.60M 134.10M 134.60M 135.60M 135.20M 135.30M
Adjusted Diluted Earnings per Share		 $1.69 $1.97 $2.34 $2.07 $1.59 $2.18 $2.32 $1.92 $1.68 $2.09 $2.17
Adjusted Weighted Average Diluted Shares Outstanding		 133.50M 135.20M 134.90M 135.60M 136M 136.30M 135.90M 136.10M 137.30M 137M 137.10M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 131.69M 132.49M 133.26M 133.58M 134.40M 134.22M 267.92M 268.10M 134.79M 135.59M 135.39M
Normalized Net Operating Profit after Tax (NOPAT)		 267 307 356 321 256 338 360 306 276 336 348
Normalized NOPAT Margin		 5.14% 5.92% 6.46% 5.91% 5.26% 6.74% 6.39% 5.44% 5.41% 6.19% 5.60%
Pre Tax Income Margin		 5.85% 6.78% 7.75% 7.00% 5.68% 7.59% 7.46% 6.28% 5.81% 7.01% 6.42%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 8.26 6.39 0.00 0.00 7.07 6.14 0.00 7.37
NOPAT to Interest Expense		 0.00 0.00 0.00 6.13 5.00 0.00 0.00 5.26 4.78 0.00 5.56
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 7.67 5.82 0.00 0.00 6.39 5.59 0.00 6.84
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 5.54 4.42 0.00 0.00 4.58 4.23 0.00 5.02
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 30.52% 30.81% 29.93% 29.63% 29.80% 29.11% 29.06% 28.48% 26.96% 25.36% 25.94%
Augmented Payout Ratio		 90.15% 77.20% 66.33% 61.90% 62.09% 74.39% 70.14% 65.23% 45.23% 25.36% 56.16%

Frequently Asked Questions About CDW's Financials

When does CDW's fiscal year end?

According to the most recent income statement we have on file, CDW's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has CDW's net income changed over the last 9 years?

CDW's net income appears to be on an upward trend, with a most recent value of $1.08 billion in 2024, rising from $403.10 million in 2015. The previous period was $1.10 billion in 2023. See CDW's forecast for analyst expectations on what’s next for the company.

What is CDW's operating income?
CDW's total operating income in 2024 was $1.65 billion, based on the following breakdown:
  • Total Gross Profit: $4.60 billion
  • Total Operating Expenses: $2.95 billion
How has CDW revenue changed over the last 9 years?

Over the last 9 years, CDW's total revenue changed from $12.99 billion in 2015 to $21.00 billion in 2024, a change of 61.7%.

How much debt does CDW have?

CDW's total liabilities were at $12.33 billion at the end of 2024, a 9.6% increase from 2023, and a 137.5% increase since 2015.

How much cash does CDW have?

In the past 9 years, CDW's cash and equivalents has ranged from $37.60 million in 2015 to $1.41 billion in 2020, and is currently $503.50 million as of their latest financial filing in 2024.

How has CDW's book value per share changed over the last 9 years?

Over the last 9 years, CDW's book value per share changed from 6.47 in 2015 to 17.65 in 2024, a change of 172.7%.


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This page (NASDAQ:CDW) was last updated on 5/28/2025 by MarketBeat.com Staff
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