FY2025 · ended Dec 31, 2025 · Revenue $22.42B, +6.8% YoY · Filed Feb 20, 2026
CDW Corp (CDW) files with the SEC under industry code 5961, Retail-Catalog & Mail-Order Houses. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $22.4 billion and net income of $1.1 billion. Free cash flow was $1.1 billion. As of Sep 30, 2026 it held $1.5 billion in cash and investments and $7.3 billion in total debt.
Revenue (TTM)
$24.52B
+10.9% vs year-ago TTM
Net income (TTM)
$1.10B
+4.5% vs year-ago TTM
Operating cash flow (TTM)
$1.05B
-5.8% vs year-ago TTM
Free cash flow (TTM)
$933.70M
-7.5% vs year-ago TTM
EPS (TTM)
$8.57
+8.4% vs year-ago TTM
Dividend per share (TTM)
$2.52
+0.8% vs year-ago TTM
Shares outstanding
128.99M
-2.6% vs prior year
Net cash
$-5.73B
as of Sep 30, 2026
Operating margin
7.0%
FY 2026
Company profile
- Industry
- Retail-Catalog & Mail-Order Houses (SIC 5961)
- Listed as
- CDW (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Vernon Hills, IL
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1402057
- Former names
- VH Holdings, Inc. (until Jun 8, 2007)
Other Retail-Catalog & Mail-Order Houses companies
- Amazon Com Inc AMZN
- Coupang, Inc. CPNG
- Wayfair Inc. W
- Chewy, Inc. CHWY
- Vipshop Holdings Ltd VIPS
- Insight Enterprises Inc NSIT
- Pattern Group Inc. PTRN
- GigaCloud Technology Inc GCT
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $22.4B | $21.0B | $21.4B | $23.7B | $20.8B |
| Operating income | $1.7B | $1.7B | $1.7B | $1.7B | $1.4B |
| Net income | $1.1B | $1.1B | $1.1B | $1.1B | $988.6M |
| Diluted EPS | $8.08 | $7.97 | $8.10 | $8.13 | $7.04 |
| Operating cash flow | $1.2B | $1.3B | $1.6B | $1.3B | $784.6M |
| Free cash flow | $1.1B | $1.2B | $1.5B | $1.2B | $684.6M |
| Total assets | $16.0B | $14.7B | $13.3B | $13.1B | $13.2B |
| Stockholders' equity | $2.6B | $2.4B | $2.0B | $1.6B | $705.7M |
| Cash and investments | $618.7M | $717.7M | $588.7M | $315.2M | $258.1M |
| Total debt | $5.8B | $6.1B | $5.9B | $6.2B | $7.1B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Nov 4, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations, Other events
|
Nov 4, 2026 | Nov 4, 2026 |
| 8-K |
Current report
Officer or director change, Regulation FD disclosure
|
Oct 19, 2026 | Oct 15, 2026 |
| 8-K |
Current report
Material agreement, New debt
|
Sep 21, 2026 | Sep 21, 2026 |
| 8-K |
Current report
Material agreement
|
Sep 15, 2026 | Sep 14, 2026 |
| 10-Q | Quarterly report | Aug 5, 2026 | Jun 30, 2026 |
Source: SEC EDGAR filings. This is company-reported data, not investment advice.