CDW revenue and financials
$133.75Change from previous close: −0.13%Absolute change: −$0.17
In the fiscal year ended December 2025, CDW reported revenue of $22.42B (+6.79% year over year). Net income was $1.07B, a net margin of 4.8%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +6.79%
- 2025 vs 2024
- Net income growth
- −1.04%
- 2025 vs 2024
- Net margin
- 4.8%
- 2024: 5.1%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -55.1 | 275 | 434 | 328 | 156 | 287 | 345 | 342 | 150 | 440 | 537 | 469 |
| Depreciation and amortization | 75.1 | 75.1 | 74.1 | 73.3 | 73.3 | 74.9 | 69.5 | 69.1 | 69.4 | 67.3 | 68.1 | 66.0 |
| Capital expenditure | -27.5 | -26.4 | -37.9 | -29.8 | -22.5 | -26.9 | -28.6 | -33.6 | -30.9 | -29.5 | -33.5 | -43.4 |
| Investing cash flow | -27.9 | -30.9 | -54.5 | -29.9 | 187 | -31.9 | -354 | -245 | -30.9 | -29.7 | -33.7 | -49.1 |
| Financing cash flow | -133 | -273 | -216 | -320 | -355 | -294 | -416 | 179 | -257 | -193 | -359 | -180 |
| Dividends paid | -79.8 | -81.1 | -81.7 | -81.8 | -82.3 | -82.8 | -83.1 | -82.7 | -83.0 | -83.3 | -83.1 | -79.1 |
| Share repurchases | -346 | -211 | -157 | -151 | -152 | -219 | -151 | -102 | -203 | -82.0 | -51.4 | -59.7 |
| Debt issued | 2,640 | 655 | 1,785 | 243 | 768 | 387 | 294 | 1,198 | — | — | -165 | 10.1 |
| Debt repaid | -2,355 | -652 | -1,758 | -337 | -903 | -398 | -450 | -837 | 14.2 | -60.0 | -81.5 | -69.1 |
| Effect of exchange rates | -0.8 | -9.7 | 2.3 | -7.0 | 18.3 | 6.7 | -14.4 | 5.3 | -0.5 | -2.6 | 4.2 | -2.5 |
| Net change in cash | -217 | -39.0 | 166 | -28.1 | 5.6 | -32.1 | -439 | 281 | -139 | 215 | 148 | 237 |
| Free cash flow | -82.6 | 248 | 396 | 299 | 133 | 260 | 317 | 309 | 119 | 411 | 503 | 425 |
| Levered free cash flow | -107 | 270 | 286 | 230 | 96.8 | 307 | 297 | 263 | 91.2 | 424 | 442 | 361 |