CDW Corporation (CDW)
NASDAQ: CDW · Real-Time Price · USD
147.69
-1.28 (-0.86%)
At close: Aug 28, 2026, 4:00 PM EDT
147.88
+0.19 (0.13%)
After-hours: Aug 28, 2026, 7:30 PM EDT
CDW Corporation Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 1,080 | 1,067 | 1,078 | 1,104 | 1,115 | 988.6 |
Depreciation & Amortization | 297.6 | 295.6 | 275.3 | 270.7 | 290.6 | 191.2 |
Stock-Based Compensation | 89.8 | 83.6 | 64.7 | 93.7 | 91.1 | 72.6 |
Provision & Write-off of Bad Debts | 35.2 | 37.2 | 32.2 | 14.9 | 8.3 | -5.4 |
Other Operating Activities | 33.3 | 8.5 | -10 | -3.7 | -2 | -30.8 |
Change in Accounts Receivable | -1,770 | -1,167 | -559.4 | -54.5 | -34.8 | -616.8 |
Change in Inventory | -222.8 | 48.2 | 61.1 | 139 | 111.9 | -151 |
Change in Accounts Payable | 1,327 | 815.4 | 443.8 | -55.4 | -260 | 374.5 |
Change in Other Net Operating Assets | 111.9 | 16.6 | -108.2 | 89.7 | 16.3 | -38.3 |
Operating Cash Flow | 981.8 | 1,205 | 1,277 | 1,599 | 1,336 | 784.6 |
Operating Cash Flow Growth | -13.15% | -5.64% | -20.10% | 19.67% | 70.27% | -40.30% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -121.6 | -117.1 | -122.6 | -148.2 | -127.8 | -100 |
Cash Acquisitions | -16.8 | -21.5 | -323.9 | -76.4 | -36.7 | -2,706 |
Investment in Securities | - | 211.1 | -211.1 | - | - | 36 |
Other Investing Activities | -4.8 | -2.3 | -1.6 | -5 | - | - |
Investing Cash Flow | -143.2 | 70.2 | -659.2 | -229.6 | -164.5 | -2,770 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | - | - | - | 84.6 | - |
Long-Term Debt Issued | - | 3,197 | 1,492 | 207.6 | 2,301 | 5,537 |
Total Debt Issued | 5,336 | 3,197 | 1,492 | 207.6 | 2,386 | 5,537 |
Short-Term Debt Repaid | - | -2.6 | -75.7 | -23.7 | - | -161.8 |
Long-Term Debt Repaid | - | -3,409 | -1,257 | -432 | -3,236 | -2,797 |
Total Debt Repaid | -5,117 | -3,412 | -1,332 | -455.7 | -3,236 | -2,959 |
Net Debt Issued (Repaid) | 218.8 | -214.7 | 159.7 | -248.1 | -849.5 | 2,579 |
Issuance of Common Stock | 14 | 29.5 | 47 | 49.3 | 30.2 | 69.9 |
Repurchase of Common Stock | -865.1 | -679.1 | -538.2 | -540 | -23.1 | -1,529 |
Common Dividends Paid | -324.4 | -328.6 | -332.1 | -321.5 | -282.6 | -234.8 |
Other Financing Activities | 15.2 | 8.4 | -23.3 | -38.4 | 22.9 | -52.1 |
Financing Cash Flow | -941.5 | -1,185 | -686.9 | -1,099 | -1,102 | 832.8 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -15.2 | 20.3 | -12.2 | 3.1 | -12.2 | 0.1 |
Net Cash Flow | -118.1 | 111.2 | -81 | 273.5 | 57.1 | -1,152 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 860.2 | 1,088 | 1,155 | 1,451 | 1,208 | 684.6 |
Free Cash Flow Growth | -15.58% | -5.77% | -20.39% | 20.06% | 76.47% | -40.79% |
Free Cash Flow Margin | 3.66% | 4.85% | 5.50% | 6.79% | 5.09% | 3.29% |
Free Cash Flow Per Share | 6.63 | 8.24 | 8.54 | 10.64 | 8.82 | 4.87 |
Levered Free Cash Flow | 676.79 | 920.35 | 1,079 | 1,282 | 988.89 | 537.64 |
Unlevered Free Cash Flow | 819.91 | 1,062 | 1,213 | 1,423 | 1,136 | 631.95 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 230.8 | 234.3 | 217.5 | 233.2 | 224.3 | 134.3 |
Cash Income Tax Paid | 364.9 | 326 | 398.6 | 401.4 | 362.2 | 351 |
Change in Working Capital | -554.4 | -286.3 | -162.7 | 118.8 | -166.6 | -431.6 |