What is CDW Corp worth?
With the base-case assumptions below, a discounted cash flow model on CDW Corp's reported free cash flow gives $101.80 per share. The share price was $135.43 on September 25, 2026, 33% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -1.0% | 10.0% | $47.24 | -65% |
| Base | 4.0% | 9.0% | $101.80 | -25% |
| Bull | 9.0% | 8.0% | $203.67 | +50% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $140.58 | $152.35 | $166.74 | $184.72 | $207.84 |
| 8.0% | $111.69 | $119.32 | $128.35 | $139.17 | $152.40 |
| 9.0% | $90.55 | $95.77 | $101.80 | $108.82 | $117.12 |
| 10.0% | $74.43 | $78.14 | $82.35 | $87.16 | $92.70 |
| 11.0% | $61.73 | $64.45 | $67.50 | $70.92 | $74.79 |
Where the presets come from
Base: years 1 to 5 grow at CDW Corp's revenue growth rate over the last 5 fiscal years (4.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions