CDW (CDW) stock
Information Technology · Technology Distributors
CDW (CDW) is a Technology Distributors company in the Information Technology sector, headquartered in Vernon Hills, Illinois. As of October 23, 2026, CDW closed at $165.11, a market capitalization of $20.64 billion, the 402nd largest company in the S&P 500. Over the last twelve months it generated $23.50 billion in revenue (+10% year over year) and $860.20 million in free cash flow. The stock trades at 19.8x trailing earnings and 13.7x forward earnings.
- 1-year total return: +6.3% (dividends reinvested)
- 5-year return: -1.6% a year
- 52-week range: $97.12 – $166.15
- Gross margin 21.4%, operating margin 7.3%
- Dividend yield: 1.53%, 12 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 65th largest of 75 Information Technology stocks in the S&P 500
CDW price chart
1Y price change: +4.2% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| CDW | +13.0% | +23.1% | +6.3% | -4.7% | -1.6% | +15.5% | +19.2% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2013.
CDW key statistics
- Market cap
- $20.6B
- #402 in S&P 500
- P/E (TTM)
- 19.8x
- Forward P/E
- 13.7x
- EPS (TTM)
- $8.32
- Revenue (TTM)
- $23.5B
- +10%
- Free cash flow
- $860.2M
- Gross margin
- 21.4%
- Operating margin
- 7.3%
- Return on equity
- 44.0%
- Dividend yield
- 1.53%
- 52-week range
- $97.12 – $166.15
- Beta
- 0.94
- Price / sales
- 0.9x
- EV / EBITDA
- 13.3x
- Debt / equity
- 2.63x
- Employees
- 14,800
CDW report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth10.0%B
- Gross margin21.4%D
- Operating margin7.3%D
- FCF margin3.7%D
- Return on equity44.0%A
- Net debt / EBITDA3.0xD
- Forward P/E13.7xA
- PEG ratio1.3xB
- Shareholder yield4.7%B
- Share count change / yr-1.8%B
CDW financials
Revenue went from $13.7B in fiscal 2016 to $22.4B in fiscal 2025, growing 5.7% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.7B | $14.8B | $16.2B | $18.0B | $18.5B | $20.8B | $23.7B | $21.4B | $21.0B | $22.4B |
| Gross profit | $2.3B | $2.5B | $2.7B | $3.0B | $3.2B | $3.6B | $4.7B | $4.7B | $4.6B | $4.9B |
| Operating income | $820.0M | $866.5M | $987.3M | $1.1B | $1.2B | $1.4B | $1.7B | $1.7B | $1.7B | $1.7B |
| Net income | $425.1M | $523.1M | $643.0M | $736.8M | $788.5M | $988.6M | $1.1B | $1.1B | $1.1B | $1.1B |
| EPS (diluted) | $2.56 | $3.31 | $4.19 | $4.99 | $5.45 | $7.04 | $8.13 | $8.10 | $7.97 | $8.08 |
| Free cash flow | $540.5M | $696.6M | $819.8M | $790.9M | $1.2B | $684.6M | $1.2B | $1.5B | $1.2B | $1.1B |
| Buybacks | $367.4M | $534.0M | $522.3M | $657.2M | $340.6M | $1.5B | $0 | $500.0M | $500.0M | $653.0M |
| Dividends paid | $78.7M | $106.9M | $139.4M | $183.4M | $219.6M | $234.8M | $282.6M | $321.5M | $332.1M | $328.6M |
| Diluted shares | 166.0M | 158.2M | 153.6M | 147.8M | 144.8M | 140.5M | 137.0M | 136.3M | 135.2M | 132.1M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into CDW?
A reverse DCF asks what growth the current price requires. With an enterprise value of $26.7B and $860.2M of trailing free cash flow, CDW needs to grow free cash flow about 21.8% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -1.2% a year over the last five years.
P/E ratio history
Current 20.4x vs. median 25.8x (10th–90th percentile 18.7x–33.6x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
CDW dividend
- Dividend yield
- 1.53%
- Annual dividend
- $2.52
- Years of increases
- 12
- 5-yr dividend growth
- 10.2%
- per year
- Payout ratio
- 30%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
CDW analyst price targets
9 analysts' average 12-month target is $159.11 (-4% vs. $165.11). Targets range from $148.00 to $171.00. 70% rate it a buy.
CDW earnings
Next report: November 4, 2026. CDW has beaten EPS estimates 1 quarters in a row. Last quarter's revenue was $6.6B (+10% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 5, 2026 | $2.80 | $2.91 | +4.0% |
| May 6, 2026 | $2.29 | $2.28 | -0.3% |
| Feb 4, 2026 | $2.44 | $2.57 | +5.1% |
| Nov 4, 2025 | $2.62 | $2.71 | +3.4% |
| Aug 6, 2025 | $2.49 | $2.60 | +4.4% |
| May 7, 2025 | $1.96 | $2.15 | +9.5% |
| Feb 5, 2025 | $2.32 | $2.48 | +6.7% |
| Oct 30, 2024 | $2.85 | $2.63 | -7.9% |
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CDW news
- CDW (CDW) Stock May Be 25% Undervalued Despite Boardroom AI News · Oct 24, 2026
- CDW to Announce Third Quarter 2026 Results on November 4 · Oct 21, 2026
- CDW Appoints Sam Balaji to Board of Directors · Oct 19, 2026
- Earnings Preview: What to Expect From CDW Corporation’s Report · Oct 19, 2026
- CDW (CDW) Rallies As Investors Revisit Whether Slower Growth Still Looks Undervalued · Oct 9, 2026
CDW stock FAQ
What is CDW's market cap?
CDW's market capitalization is $20.64 billion as of October 23, 2026, ranking 402nd in the S&P 500.
What is CDW's P/E ratio?
CDW trades at a trailing price-to-earnings ratio of 19.8x and a forward P/E of 13.7x. Its median P/E over the period we track is 25.8x.
Does CDW pay a dividend?
Yes. CDW pays $2.52 per share a year, a 1.53% yield. It has raised its dividend 12 years in a row. Dividends grew 10.2% a year over the last five years.
How much has CDW stock returned?
Including reinvested dividends, CDW returned +6.3% over one year, -1.6% a year over five years, +15.5% a year over ten years through October 23, 2026.
Is CDW stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies CDW must grow free cash flow about 22% a year for the next decade. Its free cash flow fell 1% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the CDW price target?
9 analysts cover CDW with an average 12-month price target of $159.11, -4% from the current price. 70% of them rate it a buy.
When does CDW report earnings?
CDW is expected to report earnings on November 4, 2026. It has beaten EPS estimates 1 quarters in a row.
How many employees does CDW have?
CDW has about 14,800 full-time employees, or $1.6 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology