CDW

CDW Corporation

$152.65

+1.44% 2026-10-19

Information TechnologyS&P 500

1M 3M 6M 1Y 2Y

CDWSPY

+6.2%

+4.4%

+18.0%

+12.7%

YTD

+13.8%

+2.2%

Grades vs sector

Momentum

25th pct in sector

D+

12-1 return: -17.9%
Percentile within its GICS sector across the S&P 1500.

Growth

31st pct in sector

D+

Revenue growth (YoY): +10.0%
Percentile within its GICS sector across the S&P 1500.

Value

78th pct in sector

B+

Forward E/P: 8.0% · EBITDA/EV: 8.1%
Percentile within its GICS sector across the S&P 1500.

Profitability

57th pct in sector

B-

Profit margin: +4.6% · Return on equity: +44.0%
Percentile within its GICS sector across the S&P 1500.

Revisions

no data

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 3 live models right now.

Momentum Top 15

rank 357 of 499 · 12-1 momentum % -2.9

Quality Growth

rank 98 of 360 · Composite (0-1) 0.6

Momentum Blend

not in the current book

Key stats

Market cap$19.1B

P/E (trailing)18.3

P/E (forward)12.7

52-week range97.12 – 161.10

Revenue growth (YoY, latest qtr)+10.0%

Dividend yield1.67%

Analyst consensusBuy (9)

Mean price target$158.67 (+4%)

Valuation & fundamentals

Bottom line

Leans expensive

Model read-out from the numbers below, not advice. Score -1 (DCF counts double).

▼DCF (base case)below the price by 50%

▲Forward P/E vs sector12.7x vs median 16.9x

•Piotroski F-score5/9

▲Altman Z3.6 (safe)

•Net debt / EBITDA2.8x

•Analyst target+4% (9 analysts)

Discounted cash flow

Bear

$31

-79%

growth -1% · disc. 10.0% · term. 2.0%

Base

$76

-50%

growth 4% · disc. 9.0% · term. 2.5%

Bull

$138

-10%

growth 7% · disc. 8.0% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 10% a year for 10 years.

Implied

+10%/yr

FCF, last 3 yrs

-3%/yr

FCF, last 5 yrs

-1%/yr

Revenue, last 3 yrs

-2%/yr

Revenue, last 5 yrs

+4%/yr

Same inputs as the DCF above: trailing free cash flow 0.9B, 9.0% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.94 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Information Technology

P/E (trailing)

sector median 35.9× · 16th pct

18.3×
cheaper

Forward P/E

sector median 16.9× · 26th pct

12.7×
cheaper

EV / EBITDA

sector median 20.8× · 20th pct

12.4×
cheaper

Price / sales

sector median 4.6× · 6th pct

0.8×
cheaper

Price / book

sector median 5.1× · 69th pct

7.8×
pricier

FCF yield

sector median 3.5% · 62nd pct

4.5%
cheaper

Forward EPS $12.04 vs trailing $8.32 (+45% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$38.2M

as of 2018-09-30

vs a year ago

–

YoY

× TTM revenue

0.00×

coverage

18-03

18-06

18-09

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

21.4%

Operating margin

7.1%

FCF margin

3.7%

Net margin

4.6%

Return on equity

44.2%

Return on invested capital

15.8%

Net debt / EBITDA

2.8×

Current ratio

1.2×

Interest cover

8.1×

Cash conversion (OCF/NI)

0.9×

Piotroski F-score 5/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 3.6 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target

$159

+4%

Analysts

Buy

Range

$148–$171

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$22.4B	$1.1B	$1.1B
2024	$21.0B	$1.1B	$1.2B
2023	$21.4B	$1.1B	$1.5B
2022	$23.7B	$1.1B	$1.2B
2021	$20.8B	$988.6M	$684.6M
2020	$18.5B	$788.5M	$1.2B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR -1.9%.

Earnings

Next report: 2026-11-03 · before open · EPS est 2.98

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-08-05	2.80	2.91	+4.0%
2026-05-06	2.29	2.28	-0.3%
2026-02-04	2.44	2.57	+5.1%
2025-11-04	2.62	2.71	+3.4%
2025-08-06	2.49	2.60	+4.4%
2025-05-07	1.96	2.15	+9.5%
2025-02-05	2.32	2.48	+6.7%
2024-10-30	2.85	2.63	-7.9%

Quarterly revenue

Quarter	Revenue	YoY
2026-06-30	$6.6B	+10.0%
2026-03-31	$5.7B	–
2025-12-31	$5.5B	–
2025-09-30	$5.7B	–
2025-06-30	$6.0B	–

Analyst actions

Barclays

2026-09-21 · main

Equal-Weight → Equal-Weight
PT $148

Barclays

2026-09-08 · main

Equal-Weight → Equal-Weight
PT $150

Morgan Stanley

2026-08-06 · main

Overweight → Overweight
PT $171

Citigroup

2026-07-13 · main

Neutral → Neutral
PT $145

Morgan Stanley

2026-06-23 · up

Equal-Weight → Overweight
PT $170

JP Morgan

2026-05-27 · up

Neutral → Overweight
PT $130

Recent dividends

2026-08-25: $0.630 · 2026-05-22: $0.630 · 2026-02-25: $0.630 · 2025-11-25: $0.630 · 2025-08-25: $0.625 · 2025-05-23: $0.625 · 2025-02-25: $0.625 · 2024-11-25: $0.625

Insider trades

Connelly Elizabeth H.

See Remarks · 2026-08-07

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News

CDW Appoints Sam Balaji to Board of Directors

Business Wire · 16h ago

Earnings Preview: What to Expect From CDW Corporation’s Report

Barchart · 23h ago

CDW Canada Awarded Canadian Partner Excellence Award by Dell Technologies for the Fifth Consecutive Year

Business Wire · Oct 15

AVT Surges 88.5% in a Year: Should You Buy, Sell or Hold the Stock?

Zacks · Oct 13

3 Value Stocks We Think Twice About

StockStory · Oct 13

CDW (CDW) Stock May Be 36% Undervalued On AI Services Deal

Simply Wall St. · Oct 09

CDW (CDW) Rallies As Investors Revisit Whether Slower Growth Still Looks Undervalued

Simply Wall St. · Oct 09

TD SYNNEX Surges 78% YTD: Is the SNX Stock Still Worth Buying?

Zacks · Oct 09

1 Services Stock with Promising Prospects and 2 We Turn Down

StockStory · Oct 09

3 Reasons CDW is Risky and 1 Stock to Buy Instead

StockStory · Oct 06

Stats refreshed 2026-10-19 19:02:20 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Coteau Systematic StrategiesSystematic equity research and model portfolios.
Coteau Systematic Strategies publishes research, model portfolios and tools. It does not manage money or offer investment advice. Model results are hypothetical. Data: Yahoo Finance (delayed), SEC EDGAR.

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