CDW

CDW Corp

Ticker: CDWConsumer DiscretionaryCatalog RetailS&P 500
HQ VERNON HILLS, ILCIK 1402057FY end 12-31Book / share $19.02Shares 128M
Revenue (FY)
$22.42B+6.79%
TTM $23.50B
Op. margin
7.38%-0.48%
TTM 7.14%
Net income
$1.07B-1.04%
TTM $1.08B
Operating cash
$1.21B-5.64%
TTM $981.80M
Free cash flow
$1.09B-5.77%
TTM $860.20M
Return on equity
40.93%-4.88%
TTM 44.24%
Debt / equity
2.16-0.32%
TTM 2.38
Shares outstanding
132.1M-2.29%
TTM 128.4M

The business

CDW Corporation (NASDAQ: CDW) is a Fortune 500 information technology solutions provider serving business, government, education, and healthcare customers across the United States, United Kingdom, and Canada. The company operates through its website at www.cdw.com and functions as a leading multi-brand IT channel partner, offering over 100,000 products and services from more than 1,000 vendor partners including major technology companies such as Adobe, Apple, Cisco, Dell Technologies, Google, Hewlett Packard Enterprise, IBM, Lenovo, Microsoft, and Nvidia.

CDW generates revenue across three primary product categories: hardware representing approximately 72 percent of net sales, software at 19 percent, and services at nine percent. The company serves over 250,000 customers and operates through five dedicated customer channels in the US—corporate, small business, government, education, and healthcare—each generating $1.7 billion or greater in annual net sales. International operations in the UK and Canada contributed $2.7 billion in combined net sales. Total net sales reached $22.4 billion in 2025.

The company maintains approximately 14,800 coworkers globally, with 11,200 in the United States and 3,600 in international locations. CDW operates two distribution centers in North America and one in the UK, collectively providing over one million square feet of space and handling approximately 22 million units annually. The company leverages drop-shipment arrangements representing roughly 51 percent of North America net sales, enabling efficient product delivery without maintaining all inventory physically.

CDW's competitive positioning derives from its scale, vendor relationships, technical expertise, and integrated solutions capabilities spanning hybrid infrastructure, digital experience, security, and digital velocity services. The company provides customers with advisory and design services, software development, implementation, managed services, and warranties. As of January 1, 2026, CDW realigned its organizational structure into three reportable segments: Commercial, Government, and Education, with international operations remaining separate. The company's vendor-agnostic approach and deep end-market specialization enable it to serve as a trusted technology adviser across diverse customer segments and geographies.

Sector
Consumer Discretionary
Industry
Catalog Retail
HQ
VERNON HILLS, IL
FY end
12-31
CIK
1402057
SIC
5961
Financial performance · annual
20132025
$-2.37B$4.75B$11.87B$19.00B$26.12B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds CDW Corp — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

695
funds hold it
2 of 35
superinvestors hold it
$8.96B
fund-held value
51.9%
of shares held by funds

Top fund holders

Fund% of fundValue
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.02%$570.41M
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.03%$465.49M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.22%$411.98M
VANGUARD WINDSOR II FUND
VWNFX · VANGUARD WINDSOR FUNDS
0.56%$365.53M
Allspring Special Mid Cap Value Fund
WFMDX · ALLSPRING FUNDS TRUST
2.51%$338.39M

Superinvestors in CDW Corp

Bill NygrenINCREASED +3.0%
Harris Associates (Oakmark)
1.0%
Stanley DruckenmillerNEW
Duquesne Family Office
2.4%

Share of each manager's reported 13F portfolio.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

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15 years of CDW Corp's financials

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