CDW Corp

Retail-Catalog & Mail-Order Houses·VERNON HILLS, IL·FY end 12/31·CIK 1402057

CEO Pay Ratio

128:1

Christine A. Leahy

CEO Total Comp

$15.0M

Christine A. Leahy

Median Employee

$117,586

Revenue

$22.4B

FY 2025

Net Income

$1.1B

FY 2025

Free Cash Flow

$1.1B

FY 2025

Net Margin

4.8%

Insider Net (180d)

0 buys / 0 sales

CEO Pay Accountability

CEO comp as % of net income

1.41%

For every $1,000 of profit, $14.07 flows to the CEO.

CEO comp as % of buybacks

2.30%

CEO comp equals 23.0‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$22.4B	$21.0B	$21.4B	$23.7B	$20.8B
Gross Profit	$4.9B	$4.6B	$4.7B	$4.7B	$3.6B
Operating Income	$1.7B	$1.7B	$1.7B	$1.7B	$1.4B
Net Income	$1.1B	$1.1B	$1.1B	$1.1B	$988.6M
Operating CF	$1.2B	$1.3B	$1.6B	$1.3B	$784.6M
Capex	$117.1M	$122.6M	$148.2M	$127.8M	$100.0M
Free Cash Flow	$1.1B	$1.2B	$1.5B	$1.2B	$684.6M
Buybacks	$653.0M	$500.0M	$500.0M	$0	$1.5B
Dividends	$328.6M	$332.1M	$321.5M	$282.6M	$234.8M

Gross Margin	21.7%	21.9%	21.8%	19.7%	17.1%
Operating Margin	7.4%	7.9%	7.9%	7.3%	6.8%
Net Margin	4.8%	5.1%	5.2%	4.7%	4.7%
FCF Margin	4.9%	5.5%	6.8%	5.1%	3.3%
R&D / Revenue	—	—	—	—	—	—
Effective Tax	25.3%	24.9%	23.9%	25.1%	23.8%
Debt / Equity	1.77	2.38	2.46	3.66	9.57
Buybacks / FCF	60.0%	43.3%	34.5%	0.0%	219.2%

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Christine A. LeahyChair, President, and Chief Executive Officer	$1.1M	$11.8M	—	$2.2M	$13.3K	$15.0M
Albert J. MirallesChief Financial Officer and Executive Vice President, Enterprise Business Operations	$697.6K	$4.8M	—	$881.1K	$10.5K	$6.4M
Elizabeth H. ConnellyChief Commercial Officer and Executive Vice President	$611.8K	$3.8M	—	$738.9K	$14.5K	$5.2M
Sona ChawlaChief Growth and Innovation Officer and Executive Vice President	$706.0K	$3.5M	—	$876.0K	$13.4K	$5.1M
Mukesh KumarChief Services and Solutions Officer and Executive Vice President	$237.5K	$3.0M	—	$1.1M	$4.5K	$4.3M