CDW Corporation (CDW)CDWCDW Corporation

Financials

Quarterly Income Statement (USD)

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Quarterly Report	TTM	Quarter ended Jun 2026	Quarter ended Mar 2026	Quarter ended Dec 2025	Quarter ended Sep 2025	Quarter ended Jun 2025	Quarter ended Mar 2025	Quarter ended Dec 2024	Quarter ended Sep 2024
Revenue	23.50B	6.57B	5.68B	5.51B	5.74B	5.98B	5.20B	5.19B	5.52B
Cost of Goods Sold	18.48B	5.25B	4.49B	4.26B	4.48B	4.74B	4.08B	4.03B	4.32B
Gross Profit	5.02B	1.32B	1.19B	1.25B	1.26B	1.24B	1.12B	1.16B	1.20B
Gross Profit Margin	21.4%	20.1%	21.0%	22.8%	21.9%	20.8%	21.6%	22.3%	21.8%
Total Operating Expenses	3.34B	891.20M	814.00M	823.70M	812.20M	821.00M	760.90M	746.70M	719.10M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	2.45B	0.00	814.00M	823.70M	812.20M	821.00M	760.90M	746.70M	719.10M
Operating Income (EBIT)	1.68B	428.60M	377.00M	430.70M	443.30M	420.20M	361.40M	408.60M	481.60M
Operating Margin	7.1%	6.5%	6.6%	7.8%	7.7%	7.0%	7.0%	7.9%	8.7%
Income Before Tax (EBT)	1.45B	372.90M	319.00M	369.10M	389.40M	364.90M	304.00M	351.50M	427.60M
Interest Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	118.40M	60.20M	-55.30M	58.50M	55.00M	56.80M	57.10M	56.50M	54.40M
Other Income/Expense	-229.20M	-55.70M	-58.00M	-61.60M	-53.90M	-55.30M	-57.40M	-57.10M	-54.00M
Net Income	1.08B	274.40M	235.40M	279.50M	291.00M	271.20M	224.90M	264.20M	316.40M
Income Tax Expense	370.10M	98.50M	83.60M	89.60M	98.40M	93.70M	79.10M	87.30M	111.20M
Net Profit Margin	4.6%	4.2%	4.1%	5.1%	5.1%	4.5%	4.3%	5.1%	5.7%
EBITDA	1.94B	471.00M	452.10M	505.20M	516.60M	493.50M	436.30M	478.10M	550.70M
EBITDA Margin	8.3%	7.2%	8.0%	9.2%	9.0%	8.3%	8.4%	9.2%	10.0%
Depreciation & Amortization	265.30M	42.40M	75.10M	74.50M	73.30M	73.30M	74.90M	69.50M	69.10M
EPS Basic	8.35	2.16	1.82	2.15	2.22	2.06	1.70	1.98	2.37
EPS Diluted	8.32	2.15	1.82	2.14	2.21	2.05	1.69	1.97	2.35
Shares Outstanding	127.00M	127.00M	129.00M	130.00M	131.00M	131.60M	132.50M	133.10M	133.50M
Diluted Shares Outstanding	127.40M	127.40M	129.50M	130.60M	131.80M	132.40M	133.50M	134.40M	134.90M

Annual Income Statement (USD)

Swipe horizontally to review earlier years. The line-item column stays pinned.

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	22.42B	21.00B	21.38B	23.75B	20.82B	18.47B	18.03B	16.24B
Cost of Goods Sold	17.55B	16.40B	16.72B	19.06B	17.25B	15.26B	14.99B	13.53B
Gross Profit	4.87B	4.60B	4.65B	4.69B	3.57B	3.21B	3.04B	2.71B
Gross Profit Margin	21.7%	21.9%	21.8%	19.7%	17.1%	17.4%	16.9%	16.7%
Total Operating Expenses	3.22B	2.95B	2.97B	2.95B	2.15B	2.03B	1.91B	1.72B
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	3.22B	2.93B	2.97B	2.95B	2.15B	2.03B	1.91B	1.72B
Operating Income (EBIT)	1.66B	1.65B	1.68B	1.74B	1.42B	1.18B	1.13B	987.30M
Operating Margin	7.4%	7.9%	7.9%	7.3%	6.8%	6.4%	6.3%	6.1%
Income Before Tax (EBT)	1.43B	1.44B	1.45B	1.49B	1.30B	1.00B	949.70M	840.50M
Interest Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	227.40M	214.50M	226.60M	235.70M	150.90M	154.90M	159.40M	148.60M
Other Income/Expense	-228.20M	-215.90M	-230.70M	-247.40M	-121.20M	-176.90M	-183.90M	-146.80M
Net Income	1.07B	1.08B	1.10B	1.11B	988.60M	788.50M	736.80M	643.00M
Income Tax Expense	360.80M	357.60M	345.90M	373.30M	309.20M	213.80M	212.90M	197.50M
Net Profit Margin	4.8%	5.1%	5.2%	4.7%	4.7%	4.3%	4.1%	4.0%
EBITDA	1.95B	1.93B	1.95B	2.03B	1.61B	1.60B	1.40B	1.25B
EBITDA Margin	8.7%	9.2%	9.1%	8.5%	7.7%	8.7%	7.8%	7.7%
Depreciation & Amortization	296.00M	275.30M	270.70M	290.60M	191.20M	425.60M	267.10M	265.60M
EPS Basic	8.13	8.06	8.20	8.24	7.14	5.53	5.08	4.26
EPS Diluted	8.08	7.97	8.10	8.14	7.04	5.45	4.99	4.19
Shares Outstanding	131.30M	133.80M	134.60M	135.20M	138.50M	142.60M	145.10M	150.90M
Diluted Shares Outstanding	132.10M	135.20M	136.30M	137.00M	140.50M	144.80M	147.80M	153.60M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About CDW Corporation

CDW Corporation specializes in delivering comprehensive information technology services and products across North America and the United Kingdom. It strategically targets three core client divisions: corporate enterprises, small to medium-sized businesses, and public sector organizations. Their portfolio encompasses both individual hardware and software offerings, alongside sophisticated integrated IT solution packages. These comprehensive solutions span on-premise, hybrid, and cloud environments, addressing critical areas such as data center infrastructure, network management, digital workspace enablement, and robust security. Key hardware categories include mobile computing devices (laptops, tablets), network infrastructure components, desktop workstations, display units, and enterprise data storage systems, while software offerings feature application suites, cybersecurity tools, virtualization platforms, operating systems, and network management utilities. Beyond products, CDW delivers a broad spectrum of services, including expert advisory and design, custom software development, system implementation, ongoing managed services, specialized professional support, configuration assistance, and telecommunications solutions, complemented by product warranties. They also focus on providing mission-critical software, system, and network solutions. Furthermore, installation, deployment, and repair services are facilitated for customers, often leveraging a network of third-party partners. Their diverse clientele includes governmental bodies, educational institutions, healthcare providers, and businesses of all scales – from small enterprises to major corporations. Established in 1984, the company maintains its primary corporate offices in Vernon Hills, Illinois.

Vernon Hills, IL

14,800 employees

www.cdw.com

Technology / Information Technology Services

Sector: Technology
Industry: Information Technology Services
CEO: Christine A. Leahy

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