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CDWNasdaqSEC EDGAREDGAR

CDW Corp

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

Overview Financials Compensation Governance Insiders Filings

Financials

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%

Peer comparison

Retail-Catalog & Mail-Order Houses · 3 peers

CEO Pay Ratio

CDW

128:1

W

5,702:1

CPNG

95:1

CHWY

673:1

CEO total comp

CDW

$15M

W

$281M

CPNG

$3M

CHWY

$1M

Net Margin

CDW

4.8%

W

-2.5%

CPNG

0.6%

CHWY

1.8%