CDW Corp

Listed Company

CDWCIK 0001402057NasdaqLarge AcceleratedRetail-Catalog & Mail-Order HousesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$22.42B

Net Income

$1.07B

Total Assets

$16.03B

Equity

$2.61B

Shares Out

127.75M

Op. Cash Flow

$1.21B

CDW$133.16−26.03% · past yearDBEQ Basic

Daily closing prices

Business

CDW Corporation is a leading multi-brand provider of information technology solutions to business, government, education, and healthcare customers in the United States, United Kingdom, and Canada. The company offers discrete hardware and software products, as well as integrated IT solutions spanning hybrid infrastructure, digital experience, security, and digital velocity across on-premise, hybrid, and cloud environments. CDW operates three reportable segments—Corporate, Small Business, and Public—serving over 250,000 customers through approximately 10,500 customer-facing coworkers including sellers, specialists, and engineers, with distribution capabilities across North America and the UK.

Summary from 10-K filed 2026-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	22,424	20,999	21,376	23,749	20,821
Cost of sales	17,551	16,396	16,724	19,062	17,252
Gross profit	4,873	4,602	4,652	4,687	3,569
Selling and administrative expenses	3,218	2,951	2,972	2,951	2,150
Operating income	1,656	1,651	1,681	1,735	1,419
Interest expense, net	−227	−215	−227	−236	—
Other expense, net	−800,000	−1	−4	−12	30
Income before income taxes	1,427	1,435	1,450	1,488	1,298
Income tax expense	−361	−358	−346	−373	−309
Net income	1,067	1,078	1,104	1,115	989
Basic (in dollars per share)	8.13	8.06	8.2	8.24	7.14
Diluted (in dollars per share)	8.08	7.97	8.1	8.13	7.04
Basic (in shares)	131	134	135	135	139
Diluted (in shares)	132	135	136	137	141

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	619	504	589	315	258
Short-term investments	0	214	0	—	—
Accounts receivable, net of allowance for credit losses of $65.2 and $43.3, respectively	6,312	5,136	4,568	4,461	4,499
Merchandise inventory	563	605	668	800	928
Miscellaneous receivables	554	510	471	489	436
Prepaid expenses and other	452	404	410	498	358
Total current assets	8,501	7,373	6,705	6,564	6,478
Operating lease right-of-use assets	137	120	129	149	156
Property and equipment, net	172	192	196	189	196
Goodwill	4,662	4,620	4,413	4,343	4,383
Other intangible assets, net	1,186	1,357	1,370	1,491	1,628
Accounts receivable and other assets, noncurrent	1,371	1,016	472	—	—
Total Assets	16,028	14,678	13,285	13,132	13,199
Accounts payable-trade	4,220	3,381	2,881	2,821	3,114
Accounts payable-inventory financing	353	355	431	519	448
Current maturities of long-term debt	1,008	236	613	56	103
Contract liabilities	534	491	487	486	403
Compensation	319	276	303	378	362
Advertising	176	138	120	131	146
Sales and income taxes	83	62	52	74	66
Other	534	536	554	483	—
Total current liabilities	7,226	5,474	5,442	4,947	5,096
Debt	4,622	5,607	5,032	5,866	6,756
Deferred income taxes	172	167	171	203	222
Operating lease liabilities	158	149	164	175	184
Accounts payable and other liabilities	1,244	928	433	—	—
Total long-term liabilities	6,196	6,851	5,800	6,581	7,398
Commitments and contingencies (Note 16)	—	—	—	—	—
Preferred stock, $0.01 par value, 100.0 shares authorized; no shares issued or outstanding for both periods	0	0	0	0	0
Common stock, $0.01 par value, 1,000.0 shares authorized; 129.4 and 132.6 shares outstanding, respectively	1	1	1	1	1
Paid-in capital	3,979	3,834	3,691	3,518	3,370
Accumulated deficit	−1,274	−1,323	−1,526	−1,764	−2,571
Accumulated other comprehensive loss	−100	−160	−125	−152	−94
Total stockholders equity	2,606	2,353	2,043	1,603	706
Total Liabilities and Stockholders Equity	16,028	14,678	13,285	13,132	13,199

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	296	275	271	291	191
Equity-based compensation expense	84	65	94	91	73
Deferred income taxes	1	−14	−33	−18	−7
Provision for credit losses	37	32	15	8	−5
Other	7	4	29	16	−24
Accounts receivable	−1,167	−559	−55	−35	−617
Merchandise inventory	48	61	139	112	−151
Other assets	−390	−605	183	−209	−135
Accounts payable-trade	815	444	−55	−260	375
Other liabilities	407	497	−94	225	97
Net cash provided by operating activities	1,205	1,277	1,599	1,336	785
Capital expenditures	−117	−123	−148	−128	−100
Net change in short-term investments	211	−211	0	—	—
Acquisitions of businesses, net of cash acquired	−22	−324	−76	−37	−2,706
Other	−2	−2	−5	0	0
Net cash provided by (used in) investing activities	70	−659	−230	−165	−2,770
Proceeds from borrowings under revolving credit facilities	2,604	294	208	2,301	1,620
Repayments of borrowings under revolving credit facilities	−2,604	−294	−282	−2,531	−1,301
Proceeds from issuance of long-term debt	593	1,198	0	0	3,918
Repayments of long-term debt	−211	0	−150	−636	−11
Payments to extinguish long-term debt	−594	−962	0	0	−1,469
Net change in accounts payable-inventory financing	−3	−76	−24	85	−162
Repurchases of common stock	−653	−500	−500	0	−1,500
Proceeds from stock option exercises	30	47	49	30	70
Payment of incentive compensation plan withholding taxes	−26	−38	−40	−23	−29
Dividend payments	−329	−332	−322	−283	−235
Other	8	−23	−38	23	32
Net cash used in financing activities	−1,185	−687	−1,099	−1,102	833
Effect of exchange rate changes on cash, cash equivalents and restricted cash	20	−12	3	−12	100,000
Net increase (decrease) in cash, cash equivalents and restricted cash	111	−81	274	57	−1,152
Interest paid	−234	−218	−233	−224	−134
Income taxes paid, net	−326	−399	−401	−362	−351

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Frequently asked questions

What is CDW Corp's CIK number?

CDW Corp's SEC CIK number is 0001402057 (1402057). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find CDW Corp's SEC filings?

All of CDW Corp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did CDW Corp last report earnings?

CDW Corp (CDW) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001402057-26-000023). This is CDW Corp's most recent earnings filing of record — not a forecast of its next earnings date.

What is CDW Corp's most recent earnings 8-K?

CDW Corp's latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001402057-26-000023. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View CDW Corp's latest earnings 8-K →
Look up any company's CIK number →