CDW Corporation

Information Technology Technology Distributors Vernon Hills, Illinois Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$22.4B
                    3y CAGR -1.9%
                    
                    P18
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +4.8%
                    
                    P14
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$16.0B
                    ROA +6.7%
                    
                    P38
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$1.2B
                    FCF margin +4.9%
                    
                    P11
                    
                    n/a

17 yrs · FY2009–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 1 year

Total assets $16.0B

Total liabilities ~$13.4B

Shareholders equity $2.6B

Account	2025	Trend
Assets
Cash and Cash Equivalents	2.8%
Short Term Investments	0.0%
Accounts Receivable	28.2%
Inventory	2.5%
Prepaid Expenses	2.0%
Other Current Assets	2.5%
Total Current Assets	37.9%
Property,Plant and Equipment	0.8%
Operating Lease Assets	0.6%
Goodwill	20.8%
Intangible Assets	5.3%
Other Noncurrent Assets	6.1%
Total Assets	71.5%
Liabilities
Accounts Payable	20.4%
Accrued Liabilities	4.6%
Deferred Revenue	2.4%
Current Portion of Long Term Debt	4.5%
Other Current Liabilities	0.4%
Total Current Liabilities	32.2%
Long Term Debt	20.6%
Operating Lease Liabilities Noncurrent	0.7%
Deferred Tax Liabilities	0.8%
Other Noncurrent Liabilities	5.5%
Equity
Preferred Stock	0.0%
Common Stock	0.0%
Additional Paid In Capital	17.7%
Retained Earnings	-5.7%
Accumulated Other Comprehensive Income	-0.4%
Total Stockholders Equity	11.6%
Total Liabilitiesand Equity	71.5%

Income Statement

Revenue, expense, and profitability

14 accounts · 1 year

Revenue $22.4B

Operating income $1.7B

Net income $1.1B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	78.3%
Other Income Expense Gross Profit	21.7%
Expenses Selling,General and Administrative	14.3%
Other Income Expense Operating Income	7.4%
Other Income Expense Interest Expense	1.0%
Other Income Expense Other Income/expense	-0.0%
Other Income Expense Income Before Tax	6.4%
Income Tax Income Tax Expense	1.6%
net Income net Income	4.8%
net Income Comprehensive Income	5.0%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Diluted	0.6%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 1 year

Operating cash flow $1.2B

Investing cash flow $70.2M

Financing cash flow $-1.2B

Account	2025	Trend
CashFlow
Operating Activities net Income	4.8%
Operating Activities Depreciation and Amortization	1.3%
Operating Activities Stock Based Compensation	0.4%
Operating Activities Deferred Income Taxes	0.0%
Operating Activities Changes In Operating Assets and Liabilities	-1.3%
Operating Activities Other Non Cash Items	0.2%
Operating Activities net Cash From Operating Activities	5.4%
Investing Activities Capital Expenditures	-0.5%
Investing Activities Business Acquisitions	-0.1%
Investing Activities Other Investing Activities	0.9%
Investing Activities net Cash From Investing Activities	0.3%
Financing Activities Proceeds From Debt	14.3%
Financing Activities Repayment of Debt	-15.2%
Financing Activities Repurchase of Common Stock	-2.9%
Financing Activities Dividends Paid	-1.5%
Financing Activities Proceeds From Stock Issuance	0.1%
Financing Activities Tax Withholding On Stock Based Compensation	-0.1%
Financing Activities Other Financing Activities	0.0%
Financing Activities net Cash From Financing Activities	-5.3%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%
Cash Reconciliation net Change In Cash	0.5%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+21.7%
Operating margin	+7.4%
Net margin	+4.8%
FCF margin	+4.9%
Growth
Revenue CAGR (3y)	-1.9%
Returns
ROE	+40.9%
ROA	+6.7%
ROIC	+16.2%
Liquidity
Current ratio	1.18x
Quick ratio	0.96x
Leverage
D/E	5.15x
Interest coverage	7.28x
Efficiency
Asset turnover	1.40x
Cash conversion cycle	+19d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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CDW Corporation

Assets, liabilities, and equity

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