CDW Corp (CDW) Financial Statements
Industry: Catalog & Mail-Order Houses (Retail)
In fiscal 2025, CDW reported revenue of $22.42B, up 6.8% from $21.00B the year before. Net income was $1.07B (a 4.8% net margin), or $8.08 per diluted share. Gross margin was 21.7% and operating margin was 7.4%. Operating activities generated $1.21B of cash, leaving $1.09B of free cash flow. At fiscal year end, CDW held $16.03B in total assets against $13.42B in total liabilities, including $618.7M of cash and equivalents.
Open the full interactive CDW financials → Quarterly statements, key ratios, valuation history and price charts.
CDW Key Stats
| Share Price | $151.97 |
|---|---|
| Market Cap | $19.36B |
| P/E Ratio | 18.8 |
| Revenue YoY Growth | +6.8% |
| 52-Week Range | $98.25 – $156.19 |
| Shares Outstanding | 127.0 million (basic, 2026 Q2) |
CDW Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $18.47B | $20.82B | $23.75B | $21.38B | $21.00B | $22.42B |
| Cost of Goods Sold | $15.26B | $17.25B | $19.06B | $16.72B | $16.40B | $17.55B |
| Gross Profit | $3.21B | $3.57B | $4.69B | $4.65B | $4.60B | $4.87B |
| Operating Income | $1.18B | $1.42B | $1.74B | $1.68B | $1.65B | $1.66B |
| Pre-Tax Income | $1.00B | $1.30B | $1.49B | $1.45B | $1.44B | $1.43B |
| Income Tax | $213.8M | $309.2M | $373.3M | $345.9M | $357.6M | $360.8M |
| Net Income | $788.5M | $988.6M | $1.11B | $1.10B | $1.08B | $1.07B |
| Diluted EPS | $5.45 | $7.04 | $8.13 | $8.10 | $7.97 | $8.08 |
CDW Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $5.74B | $5.51B | $5.68B | $6.57B |
| Net Income | $291.0M | $279.5M | $235.4M | $274.4M |
| Diluted EPS | $2.21 | $2.12 | $1.82 | $2.15 |
CDW Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.41B | $258.1M | $315.2M | $588.7M | $503.5M | $618.7M |
| Current Assets | $5.95B | $6.48B | $6.56B | $6.71B | $7.37B | $8.50B |
| Total Assets | $9.34B | $13.20B | $13.13B | $13.28B | $14.68B | $16.03B |
| Current Liabilities | $3.90B | $5.10B | $4.95B | $5.44B | $5.47B | $7.23B |
| Total Long-Term Debt | $3.93B | $6.86B | $5.92B | $5.64B | $5.84B | $5.63B |
| Total Liabilities | $8.05B | $12.49B | $11.53B | $11.24B | $12.33B | $13.42B |
| Shareholders' Equity | $1.30B | $705.7M | $1.60B | $2.04B | $2.35B | $2.61B |
CDW Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.31B | $784.6M | $1.34B | $1.60B | $1.28B | $1.21B |
| Cash From Investing | -$201.0M | -$2.77B | -$164.5M | -$229.6M | -$659.2M | $70.2M |
| Cash From Financing | $138.8M | $832.8M | -$1.10B | -$1.10B | -$686.9M | -$1.18B |
| Free Cash Flow | $1.16B | $684.6M | $1.21B | $1.45B | $1.15B | $1.09B |
Figures from CDW's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full CDW financials page for every line item.
CDW Company Profile
| Ticker | CDW |
|---|---|
| Exchange | Nasdaq |
| Industry | Catalog & Mail-Order Houses (Retail) |
| Headquarters | Vernon Hills, Illinois |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001402057 |
Frequently Asked Questions
What was CDW's revenue in fiscal 2025?
CDW (CDW) reported revenue of $22.42B for fiscal 2025.
What is CDW's annual revenue history?
CDW's annual revenue by fiscal year: 2020: $18.47B; 2021: $20.82B; 2022: $23.75B; 2023: $21.38B; 2024: $21.00B; 2025: $22.42B.
What was CDW's net income in fiscal 2025?
CDW reported net income of $1.07B for fiscal 2025.
What was CDW's earnings per share (EPS) in fiscal 2025?
CDW's diluted EPS was $8.08 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did CDW generate in fiscal 2025?
CDW generated $1.09B of free cash flow in fiscal 2025.
What was CDW's revenue last quarter?
In its most recent reported quarter (2026 Q2), CDW reported revenue of $6.57B.
How much debt does CDW have?
CDW reported $5.63B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of CDW are outstanding?
CDW reported a weighted average of 127.0 million basic shares outstanding in 2026 Q2.
What is CDW's market cap?
Based on its latest closing price, CDW (CDW) has a market capitalization of about $19.36B.
When does CDW's fiscal year end?
CDW's fiscal year end, as registered with the SEC, is December 31.
Where is CDW headquartered?
CDW lists its business address in Vernon Hills, Illinois in its SEC filings.