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CDW (CDW) Financials

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$152.03 +3.61 (+2.43%)
Closing price 04/22/2025 04:00 PM Eastern
Extended Trading
$149.72 -2.32 (-1.52%)
As of 04/22/2025 07:55 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders
403 425 523 643 737 789 989 1,115 1,104 1,078
Consolidated Net Income / (Loss)
403 425 523 643 737 789 989 1,115 1,104 1,078
Net Income / (Loss) Continuing Operations
403 425 523 643 737 789 989 1,115 1,104 1,078
Total Pre-Tax Income
647 673 661 841 950 1,002 1,298 1,488 1,450 1,435
Total Operating Income
742 820 867 987 1,134 1,179 1,419 1,735 1,681 1,651
Total Gross Profit
2,116 2,328 2,450 2,707 3,040 3,210 3,569 4,687 4,652 4,602
Total Revenue
12,989 13,673 14,833 16,241 18,032 18,468 20,821 23,749 21,376 20,999
Operating Revenue
12,989 13,673 14,833 16,241 18,032 18,468 20,821 23,749 21,376 20,999
Total Cost of Revenue
10,873 11,344 12,383 13,534 14,993 15,257 17,252 19,062 16,724 16,396
Operating Cost of Revenue
10,873 11,344 12,383 13,534 14,993 15,257 17,252 19,062 16,724 16,396
Total Operating Expenses
1,374 1,508 1,584 1,720 1,906 2,031 2,150 2,951 2,972 2,951
Selling, General & Admin Expense
1,226 1,345 1,410 1,720 1,906 2,031 2,150 2,951 2,972 2,951
Total Other Income / (Expense), net
-95 -147 -206 -147 -184 -177 -121 -247 -231 -216
Interest & Investment Income
- - - - - - - -236 -227 -215
Other Income / (Expense), net
89 1.80 -55 1.80 -25 -22 30 -12 -4.10 -1.40
Income Tax Expense
244 248 138 198 213 214 309 373 346 358
Basic Earnings per Share
$2.37 $2.60 $3.37 $4.26 $5.08 $5.53 $7.14 $8.24 $8.20 $8.06
Weighted Average Basic Shares Outstanding
170.30M 163.60M 155.40M 150.90M 145.10M 142.60M 138.50M 135.20M 134.60M 133.80M
Diluted Earnings per Share
$2.35 $2.56 $3.31 $4.19 $4.99 $5.45 $7.04 $8.13 $8.10 $7.97
Weighted Average Diluted Shares Outstanding
171.80M 166M 158.20M 153.60M 147.80M 144.80M 140.50M 137M 136.30M 135.20M
Weighted Average Basic & Diluted Shares Outstanding
170.10M 163.20M 155.20M 147.06M 142.77M 140.99M 134.94M 135.59M 134.22M 132.49M
Cash Dividends to Common per Share
$0.31 $0.48 $0.69 $0.93 $1.27 $1.54 $1.70 $2.09 $2.39 $2.49

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

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

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 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents
-157 -69 -36 -76 237 148 215 -139 281 -439
Net Cash From Operating Activities
333 242 365 228 469 537 440 150 342 345
Net Cash From Continuing Operating Activities
333 242 365 228 469 537 440 150 342 345
Net Income / (Loss) Continuing Operations
298 287 230 263 316 296 216 281 316 264
Consolidated Net Income / (Loss)
298 287 230 263 316 296 216 281 316 264
Depreciation Expense
76 73 71 66 66 68 67 69 69 70
Non-Cash Adjustments To Reconcile Net Income
30 21 27 27 30 25 24 34 10 29
Changes in Operating Assets and Liabilities, net
-70 -139 38 -127 57 148 133 -235 -53 -17
Net Cash From Investing Activities
-34 -39 -54 -93 -49 -34 -30 -31 -245 -354
Net Cash From Continuing Investing Activities
-34 -39 -54 -93 -49 -34 -30 -31 -245 -354
Purchase of Property, Plant & Equipment
-34 -31 -32 -40 -43 -34 -30 -31 -34 -29
Acquisitions
- -8.70 -23 -53 -0.70 -0.20 -0.20 - - -324
Other Investing Activities, net
- - - - - - - - - -1.40
Net Cash From Financing Activities
-456 -272 -348 -211 -180 -359 -193 -257 179 -416
Net Cash From Continuing Financing Activities
-456 -272 -348 -211 -180 -359 -193 -257 179 -416
Repayment of Debt
-769 -675 -96 -219 -51 -44 3.80 8.40 -783 -473
Repurchase of Common Equity
- - -200 -196 -54 -50 -52 -202 -100 -146
Payment of Dividends
-68 -80 -80 -79 -79 -83 -83 -83 -83 -83
Issuance of Debt
375 447 - - 6.30 - - - 1,198 294
Other Financing Activities, net
6.50 36 27 82 -2.80 -182 -61 20 -53 -8.60
Cash Interest Paid
25 93 25 92 24 92 23 92 33 71
Cash Income Taxes Paid
114 88 22 153 110 116 17 131 132 120

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

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 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Total Assets
13,476 13,132 12,768 12,986 12,875 13,285 13,193 13,639 14,377 14,678
Total Current Assets
6,895 6,564 6,280 6,488 6,458 6,705 6,634 7,044 7,662 7,373
Cash & Equivalents
385 315 279 204 441 589 804 665 947 504
Short-Term Investments
- - - - - 0.00 - - 212 214
Accounts Receivable
5,036 4,950 4,732 5,015 4,908 5,038 4,793 5,264 5,414 5,646
Inventories, net
915 800 781 790 706 668 671 725 683 605
Prepaid Expenses
560 498 488 479 403 410 367 389 407 404
Plant, Property, & Equipment, net
188 189 187 194 195 196 190 187 193 192
Total Noncurrent Assets
6,392 6,379 6,301 6,304 6,222 6,384 6,369 6,408 6,522 7,113
Goodwill
4,328 4,343 4,366 4,428 4,417 4,413 4,410 4,409 4,425 4,620
Intangible Assets
1,526 1,491 1,455 1,425 1,385 1,370 1,331 1,295 1,260 1,357
Other Noncurrent Operating Assets
539 396 335 314 287 601 493 573 709 1,136
Total Liabilities & Shareholders' Equity
13,476 13,132 12,768 12,986 12,875 13,285 13,193 13,639 14,377 14,678
Total Liabilities
12,150 11,528 11,199 11,373 11,065 11,242 11,054 11,464 12,027 12,326
Total Current Liabilities
5,359 4,947 4,778 4,997 4,782 5,442 5,261 6,208 5,459 5,474
Short-Term Debt
58 56 46 42 40 613 605 1,204 423 236
Accounts Payable
3,730 3,340 3,176 3,483 3,237 3,312 3,126 3,523 3,537 3,737
Accrued Expenses
716 614 642 670 715 674 700 654 712 674
Current Employee Benefit Liabilities
359 378 288 281 271 303 251 296 247 276
Other Taxes Payable
- 74 130 79 80 52 110 81 65 62
Other Current Liabilities
438 - 496 - - 487 - - - 491
Total Noncurrent Liabilities
6,791 6,581 6,421 6,375 6,283 5,800 5,793 5,256 6,569 6,851
Long-Term Debt
6,100 5,866 5,750 5,721 5,662 5,032 5,028 4,425 5,608 5,607
Noncurrent Deferred & Payable Income Tax Liabilities
208 203 193 180 172 171 162 152 145 167
Other Noncurrent Operating Liabilities
303 336 307 301 281 597 436 518 658 1,077
Commitments & Contingencies
0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
1,326 1,603 1,569 1,613 1,810 2,043 2,139 2,175 2,349 2,353
Total Preferred & Common Equity
1,326 1,603 1,569 1,613 1,810 2,043 2,139 2,175 2,349 2,353
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
1,326 1,603 1,569 1,613 1,810 2,043 2,139 2,175 2,349 2,353
Common Stock
3,483 3,520 3,559 3,601 3,646 3,693 3,746 3,791 3,809 3,836
Retained Earnings
-1,969 -1,764 -1,847 -1,863 -1,687 -1,526 -1,474 -1,481 -1,351 -1,323
Accumulated Other Comprehensive Income / (Loss)
-188 -152 -143 -125 -150 -125 -133 -135 -108 -160

Annual Metrics and Ratios for CDW

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

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

Quarterly Metrics and Ratios for CDW

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

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

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.

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%.



This page (NASDAQ:CDW) was last updated on 4/23/2025 by MarketBeat.com Staff
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