Stocks Consumer discretionary CDW
NASDAQ · Consumer discretionaryCDW Corp (CDW)
CDW Corp brought in $24.5B of revenue over the twelve months to September 30, 2026, up 10.9% from a year earlier. Net income was $1.1B, a net margin of 4.5%. Operating cash flow minus capital spending left $1.1B of free cash flow in fiscal 2025. At September 30, 2026 it held $1.5B in cash against $7.1B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 4, 2026.
Key facts about CDW Corp
- Net worth
- CDW Corp has a market value (market cap) of $21B at the latest share price, and shareholders' equity of $2.6B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $22.4B (+6.8% year on year), with net income of $1.1B. Over the 12 months to September 30, 2026: revenue $24.5B, net income $1.1B.
- Cash flow
- In fiscal 2025 operations brought in $1.2B of cash; after $117.1M of capital spending, free cash flow was $1.1B.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 4, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- CDW Corp's next report is expected around February 3, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- CDW Corp paid dividends of $2.51 per share in fiscal 2025, a yield of 1.49% at the current price.
What CDW Corp does
CDW Corp is registered with the SEC under industry code SIC 5961 (Retail-Catalog & Mail-Order Houses). Its shares trade on NASDAQ under the ticker CDW.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $22.4B | $1.1B | $8.08 | $1.1B |
| 2024 | $21B | $1.1B | $7.97 | $1.2B |
| 2023 | $21.4B | $1.1B | $8.10 | $1.5B |
| 2022 | $23.7B | $1.1B | $8.13 | $1.2B |
| 2021 | $20.8B | $988.6M | $7.04 | $684.6M |
| 2020 | $18.5B | $788.5M | $5.45 | $1.2B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where CDW ranks in Consumer discretionary
Dividends
CDW Corp paid $2.51 per share in fiscal 2025. At the current price that is a yield of 1.49%. It paid out $328.6M in cash dividends, 31% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $2.51 | $328.6M | 31% |
| 2024 | $2.49 | $332.1M | 31% |
| 2023 | $2.39 | $321.5M | 29% |
| 2022 | $2.09 | $282.6M | 25% |
| 2021 | $1.70 | $234.8M | 24% |
| 2020 | $1.54 | $219.6M | 28% |
Latest SEC filings
What CDW Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 4, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 18% to $6.8B versus the same quarter last year; diluted EPS $2.46 versus $2.21.
- November 4, 2026
- October 27, 2026Passive stake (5% or more) SCHEDULE 13G
- October 19, 2026
- September 21, 2026Material agreement8-KCDW co-issuers completed the registered public offering of $600,000,000, $500,000,000, and $400,000,000 senior notes across three series.
- September 15, 2026Material agreement8-KCDW subsidiaries entered into an underwriting agreement to issue three series of senior notes maturing in 2029, 2032, and 2033.
- August 5, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 10% to $6.6B versus the same quarter last year; diluted EPS $2.15 versus $2.05.
- August 5, 2026
- August 5, 2026
- May 26, 2026
What is CDW worth? A DCF from its reported cash flow
Insider trades
What the people running CDW Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 21 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 15, 2026 | Balaji SarangaDirector | Received as pay | 504 | - |
| October 1, 2026 | Nelms David WDirector | Received as pay | 258 | - |
| October 1, 2026 | Swedish JosephDirector | Received as pay | 212 | - |
| September 24, 2026 | Sanderson Katherine ElizabethSee Remarks | Shares withheld for tax | 232 | $35.6K |
| September 10, 2026 | Bell James ADirector | Received as pay | 96 | $13.6K |
| September 10, 2026 | Connelly Elizabeth H.See Remarks | Received as pay | 238 | $33.9K |
| September 10, 2026 | Grier Kelly JDirector | Received as pay | 7 | $1K |
| September 10, 2026 | Swedish JosephDirector | Received as pay | 29 | $4.2K |
Who owns CDW
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Capital Management13G, passive | 7.57% | April 29, 2026 |
| Vanguard Portfolio Management13G, passive | 6.37% | April 29, 2026 |
| BlackRock Portfolio Management LLC13G, passive | 5.9% | October 27, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 755 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 15,238,070 | +517,771 |
| Vanguard Capital Management LLC | 8,341,169 | -79,240 |
| Vanguard Portfolio Management LLC | 8,197,577 | +14,235 |
| State Street Corp | 5,779,688 | +48,493 |
| Harris Associates L P | 5,543,451 | +160,389 |
| Boston Partners | 5,256,810 | +1,320,812 |
| Geode Capital Management, LLC | 3,890,627 | +101,652 |
| Hotchkis & Wiley Capital Management LLC | 3,777,585 | +1,750,105 |
| Invesco Ltd. | 3,758,500 | +1,096,224 |
| Morgan Stanley | 3,572,175 | +575,529 |
| Jpmorgan Chase & Co | 3,362,101 | +155,354 |
| Allspring Global Investments Holdings, LLC | 3,121,566 | +583,436 |
| Pzena Investment Management LLC | 2,638,900 | +1,523,365 |
| Jupiter Topco LLC | 2,133,623 | new |
| Longview Partners (Guernsey) LTD | 1,867,736 | -434,750 |
| Alyeska Investment Group, L.P. | 1,854,952 | +1,230,517 |
| Bank of America Corp | 1,813,551 | +554,347 |
| Fmr LLC | 1,551,646 | +258,006 |
| Fiduciary Management Inc | 1,393,758 | -49,551 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1,348,786 | +39,044 |
Insiders
20 insiders reported holding 613,273 shares in total, about $103.1M at the last price.
| Holder | Shares |
|---|---|
| Leahy Christine ASee Remarks, Director | 194,480 |
| Nelms David WDirector | 51,821 |
| Miralles Albert Joseph JrSee Remarks | 47,644 |
| Kulevich Frederick J.See Remarks | 44,825 |
| Connelly Elizabeth H.See Remarks | 34,453 |
| Tan HangSee Remarks | 34,179 |
| Chawla SonaSee Remarks | 28,153 |
| Bell James ADirector | 26,454 |
| Sanderson Katherine ElizabethSee Remarks | 24,511 |
| Zarcone Donna FDirector | 22,958 |
Questions about CDW
What does CDW Corp do?
CDW Corp is a company in the Consumer discretionary sector, listed on NASDAQ as CDW. Its shares trade on NASDAQ under the ticker CDW.
What is CDW Corp's net worth?
CDW Corp has a market value (market cap) of $21B at the latest share price, and shareholders' equity of $2.6B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is CDW Corp profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $1.1B on revenue of $24.5B, a net margin of 4.5%.
How much revenue does CDW Corp make?
Over the twelve months to September 30, 2026 CDW Corp reported revenue of $24.5B. That is 10.9% more than a year earlier.
When did CDW Corp last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 4, 2026. It covers the period to September 30, 2026.
When is CDW Corp's next earnings report?
CDW Corp's next report is expected around February 3, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does CDW Corp pay a dividend?
Yes. CDW Corp paid dividends of $2.51 per share in fiscal 2025, a yield of 1.49% at the current price.
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Where the numbers come from
Financial figures are the values CDW Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.