Is the business good?
How good a business is CDW?
CDW Corporation earns 17% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
17%
Return on invested capital · cost of capital 9.0% · 8.3 points above what the capital costs: growth creates value
- Operating margin
- 7.3%
Operating margin · Information Technology Services median 7.9% · 12 months to Q1 2026
- Cash conversion
- 1.00×
Cash conversion · 0.92× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −3.0%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 6.4% |
| FY2021 | 6.8% |
| FY2022 | 7.3% |
| FY2023 | 7.9% |
| FY2024 | 7.9% |
| FY2025 | 7.4% |
Details›
- Gross margin12 months to Q1 2026
- 22%
- Operating margin12 months to Q1 2026
- 7.3%
- Net margin12 months to Q1 2026
- 4.7%
- Free cash flow margin
- 4.7%
- Revenue, trailing twelve months
- $22.9B
- Free cash flow, trailing twelve months
- $1.08B
- Net income, trailing twelve months
- $1.08B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 17%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Information Technology Services
Ranks #3 of 37 by Smart Score