CDW
CDW Corp
Next earnings Aug 4, 2026 (before open) · consensus $2.82 EPS, $6.26B rev
Last earnings -20.3% on 2026-05-06
$133.37
▼ -4.61%$133.37▼ -23.37%
over 1Y
L $98.71H $179.37
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-4.6%
1W+4.2%
1M-4.5%
3M+10.0%
YTD+1.3%
1Y-23.4%
Buy
Conviction
Horizon
Long (>12mo)
Street · 17 analysts
Buy
High-quality IT solutions reseller back to growth (+6.8%), 40.9% ROE, buying back stock — and reasonably priced at 15.9x EPS.
Revenue $22.4B · FY2025
The read
The fundamentals carry the rating, but the price is rich (~19% above our fair-value estimate) — a quality-at-a-price call. The case rests on the business, not the entry; patient buyers may wait for a pullback.
CDW is a capital-light, cash-generative IT solutions distributor that has returned to growth: FY2025 revenue rose 6.8% to $22.4B after two soft years, while net income held essentially flat at $1.07B (EPS $8.08). The model's quality shows in a 40.9% return on equity and consistent ~$1.1B annual earnings since FY2021, generated on minimal capex ($117M) — this is a working-capital business, not a capital-intensive one. Gross margin of 21.7% on a reseller is healthy and reflects the shift toward higher-value services and solutions.
Capital allocation is disciplined and shareholder-friendly. CDW repurchased $653M of stock (+30.6%), cutting shares 2.6%, paid $329M in dividends, raised its quarterly dividend to $0.630, and the board added $750M to the buyback authorization with $684.6M remaining at year-end. Long-term debt fell 17.6% to $4.62B as $1.01B moved to current maturities; the high 2.30x liabilities/equity and negative retained earnings (-$1.27B) are artifacts of years of buybacks reducing book equity, not operational stress — operating cash flow remains strong at $1.21B.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:43 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $20.8B | $23.7B | $21.4B | $21.0B | $22.4B |
| Gross profit | $3.57B | $4.69B | $4.65B | $4.60B | $4.87B |
| Operating income | $1.42B | $1.74B | $1.68B | $1.65B | $1.66B |
| Net income | $989M | $1.11B | $1.10B | $1.08B | $1.07B |
| Diluted EPS | $7.04 | $8.13 | $8.10 | $7.97 | $8.08 |
| Net margin | 4.7% | 4.7% | 5.2% | 5.1% | 4.8% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$22.0B
EV / EBITDA11.3
EV / Sales1.0
EV / FCF20.3
P / FCF15.7
PEG (trailing)—
Earnings yield6.3%
FCF yield6.4%
Quality & risk
ROIC (est.)15.9%
Free cash flow$1.09B
Total debt$5.63B
Net cash-$5.01B
Altman Z-Score3.43 safe
Piotroski F-Score5/9
Capital returns
Buyback yield3.8%
Dividend yield (est.)1.9%
Shareholder yield5.8%
Shares Δ YoY-2.6%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗
Frequently asked
- Is CDW Corp (CDW) a buy?
- CDW currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. High-quality IT solutions reseller back to growth (+6.8%), 40.9% ROE, buying back stock — and reasonably priced at 15.9x EPS.
- What is CDW's fair value?
- A Modified-Graham model based on CDW's SEC fundamentals estimates a fair value of about $108.18. It is an estimate from reported earnings, not a price target.
- Is CDW overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, CDW currently appears overvalued relative to its SEC-grounded earnings power.
- What is CDW Corp's quality score?
- CDW scores 66.47254899536256/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001402057, latest 10-Q filed 2026-05-06) · EODHD · Proprietary analysis · as of 6/21/2026, 8:43:38 PM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.