CDW Corporation Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	22,099	20,999	21,376	23,749	20,821	18,468
Revenue Growth (YoY)	6.09%	-1.76%	-9.99%	14.06%	12.74%	2.41%
Cost of Revenue	17,325	16,396	16,724	19,062	17,252	15,257
Gross Profit	4,774	4,602	4,652	4,687	3,569	3,210
Selling, General & Admin	3,094	2,926	2,924	2,951	2,115	2,031
Operating Expenses	3,094	2,926	2,924	2,951	2,115	2,031
Operating Income	1,680	1,677	1,729	1,735	1,454	1,179
Interest Expense	-225.4	-214.5	-226.6	-235.7	-150.9	-154.9
Other Non Operating Income (Expenses)	1.7	-1.4	-4.1	-11.7	29.7	-22
EBT Excluding Unusual Items	1,456	1,461	1,498	1,488	1,333	1,002
Merger & Restructuring Charges	-46.4	-25.4	-47.7	-	-35	-
Pretax Income	1,410	1,435	1,450	1,488	1,298	1,002
Income Tax Expense	358.5	357.6	345.9	373.3	309.2	213.8
Net Income	1,051	1,078	1,104	1,115	988.6	788.5
Net Income to Common	1,051	1,078	1,104	1,115	988.6	788.5
Net Income Growth	-5.26%	-2.40%	-0.92%	12.73%	25.38%	7.02%
Shares Outstanding (Basic)	132	134	135	135	139	143
Shares Outstanding (Diluted)	133	135	136	137	141	145
Shares Change (YoY)	-1.92%	-0.81%	-0.51%	-2.49%	-2.97%	-2.03%
EPS (Basic)	7.96	8.06	8.20	8.24	7.14	5.53
EPS (Diluted)	7.91	7.97	8.10	8.13	7.04	5.45
EPS Growth	-3.32%	-1.60%	-0.37%	15.48%	29.17%	9.22%
Free Cash Flow	1,009	1,155	1,451	1,208	684.6	1,156
Free Cash Flow Per Share	7.58	8.54	10.64	8.82	4.87	7.99
Dividend Per Share	2.500	2.485	2.390	2.090	1.700	1.540
Dividend Growth	0.81%	3.98%	14.35%	22.94%	10.39%	21.74%
Gross Margin	21.60%	21.92%	21.77%	19.73%	17.14%	17.38%
Operating Margin	7.60%	7.99%	8.09%	7.31%	6.98%	6.39%
Profit Margin	4.76%	5.13%	5.17%	4.69%	4.75%	4.27%
Free Cash Flow Margin	4.57%	5.50%	6.79%	5.09%	3.29%	6.26%
EBITDA	1,971	1,952	1,999	2,026	1,645	1,605
EBITDA Margin	8.92%	9.30%	9.35%	8.53%	7.90%	8.69%
D&A For EBITDA	291	275.3	270.7	290.6	191.2	425.6
EBIT	1,680	1,677	1,729	1,735	1,454	1,179
EBIT Margin	7.60%	7.99%	8.09%	7.31%	6.98%	6.39%
Effective Tax Rate	25.43%	24.91%	23.85%	25.09%	23.82%	21.33%
Advertising Expenses	-	218	215	211	199	191

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q