CDW Financial Statements
NASDAQ: CDWConsumer DiscretionaryCatalog/Specialty DistributionUSD
Market open · Delayed 15 min · as of Oct 9, 11:27 AM ET
CDW revenue and earnings
In fiscal 2025, CDW generated $22.42 billion in revenue, up 6.8% from fiscal 2024. Net income was $1.07 billion (-1.0% year over year), for a net margin of 4.8% versus a median of 4.7% in the prior 5 years. Gross margin was 21.7% (down from 21.9%) and operating margin 7.4%.
Diluted earnings per share came in at $8.08, up from $7.97. Over the last 5 fiscal years, CDW's revenue has grown at a 4.0% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
CDW income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 22.42B | 21.00B | 21.38B | 23.75B | 20.82B | 18.47B | 18.03B | 16.24B | 14.83B | 13.67B |
| Revenue growth (YoY) | +6.79% | -1.77% | -9.99% | +14.06% | +12.74% | +2.41% | +11.03% | +9.49% | +8.49% | +5.27% |
| Cost of Revenue | 17.55B | 16.40B | 16.72B | 19.06B | 17.25B | 15.26B | 14.99B | 13.53B | 12.38B | 11.34B |
| Gross Profit | 4.87B | 4.60B | 4.65B | 4.69B | 3.57B | 3.21B | 3.04B | 2.71B | 2.45B | 2.33B |
| Operating Expenses | 3.22B | 2.95B | 2.97B | 2.95B | 2.15B | 2.03B | 1.91B | 1.72B | 1.58B | 1.51B |
| Selling, General & Admin | 3.22B | 2.95B | 2.97B | 2.95B | 2.15B | 2.03B | 1.91B | 1.72B | 1.41B | 1.35B |
| Operating Income | 1.66B | 1.65B | 1.68B | 1.74B | 1.42B | 1.18B | 1.13B | 987.30M | 866.50M | 820.00M |
| Other Income (Expense) | -800.00K | -1.40M | -4.10M | -11.70M | 29.70M | -22.00M | -24.50M | 1.80M | -55.30M | 1.80M |
| Pretax Income | 1.43B | 1.44B | 1.45B | 1.49B | 1.30B | 1.00B | 949.70M | 840.50M | 660.70M | 673.20M |
| Income Tax | 360.80M | 357.60M | 345.90M | 373.30M | 309.20M | 213.80M | 212.90M | 197.50M | 137.60M | 248.10M |
| Net Income | 1.07B | 1.08B | 1.10B | 1.11B | 988.60M | 788.50M | 736.80M | 643.00M | 523.10M | 425.10M |
| Net Income growth (YoY) | -1.04% | -2.40% | -0.92% | +12.74% | +25.38% | +7.02% | +14.59% | +22.92% | +23.05% | +5.46% |
| EPS (Basic) | 8.13 | 8.06 | 8.20 | 8.24 | 7.14 | 5.53 | 5.08 | 4.26 | 3.37 | 2.60 |
| EPS (Diluted) | 8.08 | 7.97 | 8.10 | 8.13 | 7.04 | 5.45 | 4.99 | 4.19 | 3.31 | 2.56 |
| Shares Outstanding (Basic) | 131.30M | 133.80M | 134.60M | 135.20M | 138.50M | 142.60M | 145.10M | 150.90M | 155.40M | 163.60M |
| Shares Outstanding (Diluted) | 132.10M | 135.20M | 136.30M | 137.00M | 140.50M | 144.80M | 147.80M | 153.60M | 158.20M | 166.00M |
| EBITDA | 1.95B | 1.93B | 1.95B | 2.03B | 1.61B | 1.60B | 1.40B | 1.25B | 1.13B | 1.07B |
| Gross Margin | 21.73% | 21.92% | 21.76% | 19.73% | 17.14% | 17.38% | 16.86% | 16.67% | 16.52% | 17.03% |
| Operating Margin | 7.38% | 7.86% | 7.86% | 7.31% | 6.82% | 6.39% | 6.29% | 6.08% | 5.84% | 6.00% |
| Net Margin | 4.76% | 5.13% | 5.17% | 4.69% | 4.75% | 4.27% | 4.09% | 3.96% | 3.53% | 3.11% |
This table shows 10 annual periods of CDW's income statement, from FY 2025 back to FY 2016, across 19 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow CDW's reporting calendar. What is a income statement?