CDW Corporation (CDW) Key Metrics
CDW valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $18.81B
- Enterprise value
- $23.88B
- P/E (TTM)
- 18.1 10-yr median 21.9
- Forward P/E
- 15.2
- PEG ratio
- 1.33
- Price / sales
- 0.8 10-yr median 1.0
- Price / book
- 7.5 10-yr median 13.7
- EV / EBITDA
- 12.1 10-yr median 14.5
- Dividend yield
- 1.67% $2.52 a year
- Beta
- 0.94
CDW key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCDW valuation Price multiples at each fiscal year-end price.
CDW returns How much profit the business earns on the capital it uses.
CDW per-share figures Results divided by the shares outstanding at year-end.
CDW financial health Debt, liquidity and how easily interest is covered.
CDW efficiency & capital use Working capital cycle and where the cash goes.
CDW valuation history
CDW returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CDW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CDW cash returned to shareholders
CDW price vs earnings per share
CDW key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $17.99B | $23.53B | $30.98B | $24.47B | $28.77B | $19.08B | $21.11B | $12.45B | $10.99B | $8.65B |
| Enterprise value | $23.70B | $28.80B | $36.20B | $30.25B | $35.87B | $22.24B | $24.79B | $15.45B | $14.08B | $11.62B |
| P/E ratio | 16.9 | 21.8 | 28.1 | 22.0 | 29.1 | 24.2 | 28.7 | 19.4 | 21.0 | 20.3 |
| Price / sales | 0.8 | 1.1 | 1.4 | 1.0 | 1.4 | 1.0 | 1.2 | 0.8 | 0.7 | 0.6 |
| Price / book | 6.9 | 10.0 | 15.2 | 15.3 | 40.8 | 14.7 | 22.0 | 12.8 | 11.2 | 8.3 |
| Price / free cash flow | 16.5 | 20.4 | 21.4 | 20.3 | 42.0 | 16.5 | 26.7 | 15.2 | 15.8 | 16.0 |
| Price / operating cash flow | 14.9 | 18.4 | 19.4 | 18.3 | 36.7 | 14.5 | 20.6 | 13.7 | 14.1 | 14.3 |
| EV / sales | 1.1 | 1.4 | 1.7 | 1.3 | 1.7 | 1.2 | 1.4 | 1.0 | 0.9 | 0.8 |
| EV / EBITDA | 12.2 | 15.0 | 21.5 | 15.0 | 21.9 | 14.1 | 18.0 | 12.3 | 13.1 | 10.8 |
| EV / free cash flow | 21.8 | 24.9 | 25.0 | 25.0 | 52.4 | 19.2 | 31.3 | 18.8 | 20.2 | 21.5 |
| Earnings yield | 5.9% | 4.6% | 3.6% | 4.6% | 3.4% | 4.1% | 3.5% | 5.2% | 4.8% | 4.9% |
| Free cash flow yield | 6.0% | 4.9% | 4.7% | 4.9% | 2.4% | 6.1% | 3.7% | 6.6% | 6.3% | 6.3% |
| Dividend yield | 1.8% | 1.4% | 1.0% | 1.2% | 0.8% | 1.2% | 0.9% | 1.1% | 1.0% | 0.9% |
| Shareholder yield (dividends + buybacks) | 5.5% | 3.5% | 2.7% | 1.2% | 6.0% | 2.9% | 4.0% | 5.3% | 5.8% | 5.2% |
| Share price at fiscal year-end | $136.20 | $174.04 | $227.32 | $178.58 | $204.78 | $131.79 | $142.84 | $81.05 | $69.49 | $52.09 |
| Per share | ||||||||||
| Revenue per share | $169.75 | $155.32 | $156.83 | $173.35 | $148.19 | $127.54 | $122.01 | $105.73 | $93.76 | $82.37 |
| Earnings per share | $8.07 | $7.97 | $8.10 | $8.14 | $7.04 | $5.45 | $4.99 | $4.19 | $3.31 | $2.56 |
| Operating cash flow per share | $9.12 | $9.45 | $11.73 | $9.75 | $5.58 | $9.08 | $6.95 | $5.90 | $4.92 | $3.64 |
| Free cash flow per share | $8.24 | $8.54 | $10.64 | $8.82 | $4.87 | $7.99 | $5.35 | $5.34 | $4.40 | $3.26 |
| Cash per share | $4.68 | $5.31 | $4.32 | $2.30 | $1.84 | $9.74 | $1.04 | $1.34 | $0.91 | $1.59 |
| Book value per share | $19.73 | $17.40 | $14.99 | $11.70 | $5.02 | $8.96 | $6.50 | $6.35 | $6.23 | $6.30 |
| Tangible book value per share | −$24.55 | −$26.81 | −$27.44 | −$30.88 | −$37.76 | −$12.04 | −$14.80 | −$14.32 | −$15.11 | −$14.85 |
| Dividends per share | $2.49 | $2.46 | $2.36 | $2.06 | $1.67 | $1.52 | $1.24 | $0.91 | $0.68 | $0.47 |
| Capex per share | $0.89 | $0.91 | $1.09 | $0.93 | $0.71 | $1.09 | $1.60 | $0.56 | $0.51 | $0.38 |
| Debt per share | $47.93 | $44.32 | $42.62 | $44.51 | $52.33 | $31.54 | $25.90 | $20.89 | $20.45 | $19.48 |
| Shares outstanding | 132.1M | 135.2M | 136.3M | 137.0M | 140.5M | 144.8M | 147.8M | 153.6M | 158.2M | 166.0M |
| Change in shares outstanding | −2.3% | −0.8% | −0.5% | −2.5% | −3.0% | −2.0% | −3.8% | −2.9% | −4.7% | −3.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 43.0% | 49.0% | 60.6% | 96.5% | 98.7% | 69.9% | 76.1% | 65.6% | 51.5% | 39.7% |
| Return on invested capital (ROIC) | 15.5% | 16.7% | 22.9% | 17.1% | 17.6% | 20.4% | 20.4% | 18.8% | 17.0% | 12.4% |
| Return on assets (ROA) | 6.9% | 7.7% | 8.4% | 8.5% | 8.8% | 9.1% | 9.7% | 9.1% | 7.5% | 6.2% |
| Return on tangible assets | 10.5% | 12.4% | 14.7% | 15.3% | 13.8% | 12.5% | 15.2% | 16.1% | 14.6% | 12.4% |
| Free cash flow margin | 4.9% | 5.5% | 6.8% | 5.1% | 3.3% | 6.3% | 4.4% | 5.0% | 4.7% | 4.0% |
| Income quality (OCF / net income) | 1.13 | 1.19 | 1.45 | 1.20 | 0.79 | 1.67 | 1.39 | 1.41 | 1.49 | 1.42 |
| Financial health | ||||||||||
| Total debt | $6.33B | $5.99B | $5.81B | $6.10B | $7.35B | $4.57B | $3.83B | $3.21B | $3.24B | $3.23B |
| Cash & short-term investments | $618.7M | $717.7M | $588.7M | $315.2M | $258.1M | $1.41B | $154.0M | $205.8M | $144.2M | $263.7M |
| Net debt | $5.71B | $5.27B | $5.22B | $5.78B | $7.09B | $3.16B | $3.67B | $3.00B | $3.09B | $2.97B |
| Debt / equity | 2.43 | 2.55 | 2.84 | 3.80 | 10.42 | 3.52 | 3.99 | 3.29 | 3.28 | 3.09 |
| Debt / assets | 0.39 | 0.41 | 0.44 | 0.46 | 0.56 | 0.49 | 0.48 | 0.45 | 0.46 | 0.47 |
| Net debt / EBITDA | 2.93 | 2.74 | 3.11 | 2.87 | 4.33 | 1.99 | 2.67 | 2.39 | 2.88 | 2.77 |
| Current ratio | 1.18 | 1.35 | 1.23 | 1.33 | 1.27 | 1.53 | 1.24 | 1.35 | 1.35 | 1.42 |
| Quick ratio | 1.10 | 1.24 | 1.11 | 1.17 | 1.09 | 1.33 | 1.07 | 1.19 | 1.18 | 1.22 |
| Interest coverage | 7.3 | 7.7 | 7.4 | 7.4 | 9.4 | 7.6 | 7.1 | 6.6 | 5.8 | 5.6 |
| Working capital | $1.27B | $1.90B | $1.26B | $1.62B | $1.38B | $2.06B | $842.7M | $993.7M | $874.2M | $957.4M |
| Invested capital | $8.32B | $7.63B | $7.26B | $7.39B | $7.80B | $4.45B | $4.63B | $3.98B | $4.08B | $4.02B |
| Tangible asset value | −$3.24B | −$3.62B | −$3.74B | −$4.23B | −$5.31B | −$1.74B | −$2.19B | −$2.20B | −$2.39B | −$2.47B |
| Net current asset value | −$4.92B | −$4.95B | −$4.54B | −$4.96B | −$6.02B | −$2.09B | −$2.71B | −$2.40B | −$2.58B | −$2.66B |
| Graham number | $59.87 | $55.87 | $52.27 | $46.28 | $28.20 | $33.13 | $27.00 | $24.45 | $21.53 | $19.05 |
| Graham net-net per share | −$55.81 | −$52.30 | −$47.99 | −$51.83 | −$57.44 | −$24.61 | −$27.28 | −$22.91 | −$22.93 | −$21.75 |
| Capital allocation | ||||||||||
| Dividends paid | $328.6M | $332.1M | $321.5M | $282.6M | $234.8M | $219.6M | $183.4M | $139.4M | $106.9M | $78.7M |
| Share buybacks (net) | $653.0M | $500.0M | $500.0M | $23.1M | $1.50B | $340.6M | $657.2M | $522.3M | $534.0M | $367.4M |
| Dividend payout ratio | 30.8% | 30.8% | 29.1% | 25.4% | 23.8% | 27.9% | 24.9% | 21.7% | 20.4% | 18.5% |
| Dividends + buybacks / free cash flow | 90.2% | 72.1% | 56.6% | 25.3% | 253.5% | 48.4% | 106.3% | 80.7% | 92.0% | 82.5% |
| Capex / revenue | 0.5% | 0.6% | 0.7% | 0.5% | 0.5% | 0.9% | 1.3% | 0.5% | 0.5% | 0.5% |
| Capex / operating cash flow | 9.7% | 9.6% | 9.3% | 9.6% | 12.7% | 12.0% | 23.0% | 9.5% | 10.4% | 10.5% |
| Capex / depreciation | 0.40 | 0.45 | 0.55 | 0.44 | 0.52 | 0.37 | 0.88 | 0.32 | 0.31 | 0.25 |
| Stock-based compensation / revenue | 0.4% | 0.3% | 0.4% | 0.4% | 0.3% | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% |
| SG&A / revenue | 14.3% | 13.9% | 14.0% | 12.4% | 10.3% | 11.0% | 10.6% | 10.6% | 10.7% | 11.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 101.8 | 92.9 | 85.3 | 76.0 | 74.7 | 69.1 | 64.6 | 63.6 | 62.5 | 61.7 |
| Days of inventory on hand | 12.2 | 14.2 | 16.0 | 16.5 | 17.9 | 16.4 | 13.0 | 11.7 | 12.7 | 13.6 |
| Days payables outstanding | 79.0 | 69.7 | 62.2 | 56.8 | 55.0 | 46.9 | 41.5 | 39.0 | 35.2 | 31.2 |
| Cash conversion cycle (days) | 34.9 | 37.3 | 39.1 | 35.7 | 37.6 | 38.5 | 36.1 | 36.2 | 39.9 | 44.1 |
| Receivables turnover | 3.58 | 3.93 | 4.28 | 4.80 | 4.88 | 5.28 | 5.65 | 5.74 | 5.84 | 5.92 |
| Payables turnover | 4.62 | 5.24 | 5.87 | 6.42 | 6.63 | 7.78 | 8.79 | 9.35 | 10.36 | 11.70 |
| Inventory turnover | 30.03 | 25.75 | 22.78 | 22.07 | 20.45 | 22.25 | 28.14 | 31.26 | 28.68 | 26.85 |
| Asset turnover | 1.46 | 1.50 | 1.62 | 1.80 | 1.85 | 2.13 | 2.38 | 2.30 | 2.13 | 2.00 |
| Average receivables | $6.26B | $5.34B | $4.99B | $4.94B | $4.26B | $3.49B | $3.19B | $2.83B | $2.54B | $2.31B |
| Average payables | $3.80B | $3.13B | $2.85B | $2.97B | $2.60B | $1.96B | $1.71B | $1.45B | $1.20B | $969.7M |
| Average inventory | $584.4M | $636.7M | $734.1M | $863.9M | $843.8M | $685.6M | $532.8M | $432.9M | $431.8M | $422.6M |
| Intangibles / total assets | 36.5% | 40.7% | 43.5% | 44.4% | 45.5% | 32.5% | 39.3% | 44.3% | 48.5% | 50.5% |
Computed from CDW's annual financial statements (latest annual report filed February 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CDW valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), CDW traded at 16.9 times earnings, against a 10-year median of 21.9. Based on the latest twelve months, the trailing P/E is 18.1 and the forward P/E is 15.2. CDW earned a return on equity of 43.0% and a return on invested capital of 15.5% in fiscal 2025. It ended the year with $6.3 billion of debt and $618.7 million in cash and short-term investments, net debt of $5.7 billion. It returned $981.6 million to shareholders: $328.6 million in dividends and $653.0 million in share buybacks, 90% of free cash flow. The share count fell 20.4% from 166.0M to 132.1M over 9 years.
See the CDW income statement, the CDW chart for price history, or the CDW stock overview for the latest quote and news.
CDW key metrics FAQ
What is CDW's P/E ratio?
CDW's trailing P/E ratio is 18.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 15.2. At the end of fiscal 2025 it was 16.9, compared with a 10-year median of 21.9.
What is CDW's EV/EBITDA?
CDW's enterprise value was 12.2 times EBITDA at the end of fiscal 2025 (enterprise value $23.7 billion, EBITDA $2.0 billion); the current EV/EBITDA is 12.1.
What is CDW's return on equity?
CDW's return on equity (ROE) was 43.0% in fiscal 2025: net income of $1.1 billion on average shareholders' equity of $2.5 billion.
What is CDW's ROIC?
CDW's return on invested capital was 15.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does CDW have?
CDW had total debt of $6.3 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.43 and $5.7 billion of net debt (2.93 times EBITDA).
What is CDW's dividend yield?
CDW's forward dividend yield is 1.67%. CDW paid $328.6 million in dividends in fiscal 2025 ($2.49 per share), a payout ratio of 30.8%.
Does CDW buy back its shares?
Yes. CDW spent $653.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.3% over the year, to 132.1M..
What is CDW's free cash flow yield?
CDW generated $1.1 billion of free cash flow in fiscal 2025, a free cash flow yield of 6.0% on its market value at year-end ($18.0 billion).
What is CDW's current ratio?
CDW's current ratio was 1.18 at the end of fiscal 2025: current assets were 1.18 times current liabilities.