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CDW Corp CDW

Nasdaq · stock · Retail-Catalog & Mail-Order Houses · website · IPO 2013-06-27 · LEI

CDW Corp statistics & valuation

Market cap$17.0B
P / E16.0×
P / S0.8×
P / B6.5×
P / FCF15.7×
Dividend yield1.93%
Net margin4.8%
Return on equity40.9%
FCF margin4.9%
Net debt$4.0B
Net debt / EBITDA2.1×
Enterprise value USD$21.0B
EV / EBITDA10.8×
Earnings yield EBIT/EV7.9%
Return on capital18.8%
Graham number -56.2%$59.89

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($59.89); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
3.00% 3.40% 4.00% 4.10% 4.30% 4.70% 4.70% 5.20% 5.10% 4.80% 2016201720182019202020212022202320242025
Gross margin (%)
16.70% 16.10% 16.70% 16.90% 17.40% 17.10% 19.70% 21.80% 21.90% 21.70% 2016201720182019202020212022202320242025
Operating margin (%)
5.90% 5.70% 6.10% 6.30% 6.40% 6.80% 7.30% 7.90% 7.90% 7.40% 2016201720182019202020212022202320242025
Return on equity (%)
40.60% 53.10% 65.90% 76.70% 60.80% 140.10% 69.50% 54.10% 45.80% 40.90% 2016201720182019202020212022202320242025
Shares outstanding
166.0M 158.2M 153.6M 147.8M 144.8M 140.5M 137.0M 136.3M 135.2M 132.1M 2016201720182019202020212022202320242025
Net debt ($)
$2.95B $3.07B $2.98B $3.13B $2.45B $6.50B $5.55B $4.44B $5.10B $4.00B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
6.10% 7.50% 9.00% 9.20% 8.40% 7.50% 8.50% 8.30% 7.30% 6.70% 2016201720182019202020212022202320242025
Free cash flow margin (%)
3.90% 4.60% 5.00% 4.40% 6.30% 3.30% 5.10% 6.80% 5.50% 4.90% 2016201720182019202020212022202320242025
Debt / equity (×)
3.07× 3.26× 3.26× 3.42× 2.97× 9.57× 3.66× 2.46× 2.38× 1.77× 2016201720182019202020212022202320242025
EPS ($)
$2.56 $3.31 $4.19 $4.99 $5.45 $7.04 $8.13 $8.10 $7.97 $8.08 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

CDW Corp trades at about 16.9× earnings — below its 10-year norm (10-year range 15.6×–28×, median 24.2×).

15.6× 28×

Shaded band = 10-year range (15.6×–28×); dot = today's 16.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin21.7%21.9%21.8%19.7%17.1%17.4%16.9%16.7%16.1%16.7%
Operating margin7.4%7.9%7.9%7.3%6.8%6.4%6.3%6.1%5.7%5.9%
Net margin4.8%5.1%5.2%4.7%4.7%4.3%4.1%4.0%3.4%3.0%
FCF margin4.9%5.5%6.8%5.1%3.3%6.3%4.4%5.0%4.6%3.9%
Return on assets6.7%7.3%8.3%8.5%7.5%8.4%9.2%9.0%7.5%6.1%
Return on equity40.9%45.8%54.1%69.5%140.1%60.8%76.7%65.9%53.1%40.6%
Debt / equity1.77×2.38×2.46×3.66×9.57×2.97×3.42×3.26×3.26×3.07×
Current ratio1.181.351.231.331.271.531.241.351.351.42

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.