CDW Corporation (CDW) quarterly cash flow statement — complete operating, investing & financing history
CDW Corporation (CDW) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 219.7M | 274.8M | 433.8M | 328.3M | 155.9M | 287.2M | 345.3M | 342.1M | 149.9M | 440M | 536.5M | 468.6M | 228.2M | 365.4M | 241.9M | 332.9M | 380.3M | 380.8M | 147.9M | 291.8M |
| Operating CF Margin % | 3.34% | 4.84% | 7.87% | 5.72% | 2.61% | 5.52% | 6.66% | 6.2% | 2.76% | 9.03% | 10.69% | 8.33% | 4.06% | 7.16% | 4.45% | 5.36% | 6.19% | 6.4% | 2.67% | 5.51% |
| Operating CF Growth % | 40.92% | -4.32% | 25.63% | -4.03% | 4% | -34.73% | -35.64% | -27% | -34.31% | 20.42% | 121.79% | 40.76% | -39.99% | -4.04% | 63.56% | 14.09% | 126666.67% | 10.5% | -74.32% | 31.09% |
| Net Income | 509.8M | 235.4M | 279.5M | 291M | 271.2M | 224.9M | 264.2M | 316.4M | 281.1M | 216.1M | 296.1M | 315.5M | 262.6M | 230.1M | 287.2M | 297.8M | 279.3M | 250.2M | 215.3M | 266.6M |
| Depreciation & Amortization | 150.2M | 75.1M | 74.1M | 73.3M | 73.3M | 74.9M | 69.5M | 69.1M | 69.4M | 67.3M | 68.1M | 66M | 65.9M | 70.7M | 72.5M | 75.6M | 71.1M | 71.4M | 51.2M | 48.2M |
| Stock-Based Compensation | 50.2M | 22.1M | 12.5M | 27.1M | 23.5M | 20.5M | 13.9M | 2.7M | 28.7M | 19.4M | 22.1M | 26M | 24.8M | 20.8M | 19.7M | 26.8M | 23.5M | 21.1M | 19.3M | 16.9M |
| Deferred Taxes | -9M | -4.3M | 4.5M | 26.7M | -15.8M | -14.1M | 12.9M | -7.1M | -9.9M | -10M | -600K | -8M | -13.2M | -10.9M | -5.9M | -3.7M | -3.6M | -5M | 0 | -3.6M |
| Other Non-Cash Items | 16.2M | 6.6M | 18.5M | 11.6M | 7.7M | 6.6M | 15.9M | 7.7M | 7M | 5.7M | 8.8M | 5.9M | 19.6M | 9.6M | 4.8M | 6.9M | 6.3M | 6.5M | 11.2M | -3.7M |
| Working Capital Changes | -497.7M | -60.1M | 44.7M | -101.4M | -204M | -25.6M | -31.1M | -46.7M | -226.4M | 141.5M | 142M | 63.2M | -131.5M | 45.1M | -136.4M | -70.5M | 3.7M | 36.6M | -149.1M | -32.6M |
| Change in Receivables | -1.05B | -170.1M | -533.5M | -182.9M | -265.6M | -184.5M | -238.5M | -159.4M | -415M | 253.5M | -97.2M | 55.7M | -221.9M | 208.9M | 121.4M | -136.4M | 105.2M | -125M | -293.3M | -183M |
| Change in Inventory | -418.3M | -257.6M | -58.6M | 254.1M | -35.2M | -112.1M | 71.6M | 47.2M | -54M | -3.7M | 42.9M | 79.1M | -5M | 22M | 128M | 93.6M | 20.6M | -130.3M | -63.5M | 40.4M |
| Change in Payables | 896.2M | 341.3M | 541.6M | -110.9M | 153.2M | 231.5M | 156.3M | 50.6M | 375.8M | -138.9M | 217.9M | -233.6M | 209M | -248.7M | -448.5M | -22.1M | 122.8M | 87.8M | 194.8M | 72.2M |
| Cash from Investing | -58.8M | -30.9M | -54.5M | -29.9M | 186.5M | -31.9M | -353.7M | -244.9M | -30.9M | -29.7M | -33.7M | -49.1M | -92.6M | -54.2M | -39.3M | -33.6M | -50.3M | -41.3M | -2.4B | -155.8M |
| Capital Expenditures | -53.9M | -26.4M | -37.9M | -29.8M | -22.5M | -26.9M | -28.6M | -33.6M | -30.9M | -29.5M | -33.5M | -43.4M | -39.6M | -31.7M | -30.6M | -33.6M | -22.3M | -41.3M | -33.8M | -27.7M |
| CapEx % of Revenue | 0.82% | 0.46% | 0.69% | 0.52% | 0.38% | 0.52% | 0.55% | 0.61% | 0.57% | 0.61% | 0.67% | 0.77% | 0.7% | 0.62% | 0.56% | 0.54% | 0.36% | 0.69% | 0.61% | 0.52% |
| Acquisitions | -300K | 0 | -16.5M | 0 | 0 | -5M | -323.7M | 0 | 0 | -200K | -200K | -700K | -53M | -22.5M | -8.7M | 0 | -28M | 0 | -2.37B | -128.1M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -4.6M | -4.5M | -100K | -100K | 209M | 0 | -1.4M | -200K | 0 | 0 | 0 | -5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -406.2M | -273.2M | -215.8M | -319.5M | -355.1M | -294.1M | -416.2M | 178.9M | -257M | -192.6M | -359M | -180.2M | -211.3M | -348.2M | -271.7M | -455.5M | -166.8M | -208.1M | 2.26B | -389.3M |
| Debt Issued (Net) | 175M | 3M | 26.8M | -94.3M | -211.1M | -2.7M | -183.6M | 350.7M | 14.2M | -60M | -50M | -46.2M | 58.7M | -21.5M | -237.1M | -399.8M | 0 | -228.4M | 2.66B | 108.5M |
| Equity Issued (Net) | -535M | -198.4M | -150.5M | -149.9M | -130.7M | -194.2M | -146M | -93.4M | -195.8M | -23.2M | -50M | -41.9M | -188.4M | -187.2M | 0 | 0 | 0 | 0 | -315.1M | -450M |
| Dividends Paid | -160.9M | -81.1M | -81.7M | -81.8M | -82.3M | -82.8M | -83.1M | -82.7M | -83M | -83.3M | -83.1M | -79.1M | -79.4M | -79.9M | -79.9M | -67.7M | -67.5M | -67.5M | -67.7M | -54.8M |
| Share Repurchases | -544.7M | -201M | -153M | -149.9M | -150M | -200.1M | -146M | -100M | -201.9M | -52.1M | -50M | -53.9M | -196.1M | -200M | 0 | 0 | 0 | 0 | -315.1M | -450M |
| Other Financing | 114.7M | 3.3M | -10.4M | 6.5M | 69M | -14.4M | -3.5M | 4.3M | 7.6M | -26.1M | -175.9M | -13M | -2.2M | -59.6M | 45.3M | 12M | -99.3M | 87.8M | -7.9M | 7M |
| Net Change in Cash | -255.8M | -40.1M | 165.8M | -28.1M | 5.6M | -32.1M | -439M | 281.4M | -138.5M | 215.1M | 148M | 236.8M | -75.5M | -35.8M | -69.4M | -157M | 154.7M | 128.8M | 13M | -256.1M |
| Free Cash Flow | 165.8M | 248.4M | 395.9M | 298.5M | 133.4M | 260.3M | 316.7M | 308.5M | 119M | 410.5M | 503M | 425.2M | 188.6M | 333.7M | 211.3M | 299.3M | 358M | 339.5M | 114.1M | 264.1M |
| FCF Margin % | 2.52% | 4.37% | 7.18% | 5.2% | 2.23% | 5.01% | 6.11% | 5.59% | 2.19% | 8.42% | 10.02% | 7.55% | 3.35% | 6.54% | 3.89% | 4.82% | 5.83% | 5.71% | 2.06% | 4.98% |
| FCF Growth % | 24.29% | -4.57% | 25.01% | -3.24% | 12.1% | -36.59% | -37.04% | -27.45% | -36.9% | 23.01% | 138.05% | 42.06% | -47.32% | -1.71% | 85.19% | 13.33% | 2145.71% | 4.82% | -79.31% | 39.74% |
| FCF per Share | 1.30 | 1.92 | 3.03 | 2.26 | 1.01 | 1.95 | 2.36 | 2.29 | 0.88 | 3.02 | 3.70 | 3.13 | 1.39 | 2.43 | 1.54 | 2.18 | 2.62 | 2.48 | 0.83 | 1.89 |
| FCF Conversion (FCF/Net Income) | 0.80x | 1.17x | 1.55x | 1.13x | 0.57x | 1.28x | 1.31x | 1.08x | 0.53x | 2.04x | 1.81x | 1.49x | 0.87x | 1.59x | 0.84x | 1.12x | 1.36x | 1.52x | 0.69x | 1.09x |
| Interest Paid | 116.9M | 51.8M | 61.2M | 52.7M | 66.5M | 53.9M | 70.6M | 32.7M | 91.7M | 22.5M | 92M | 24.2M | 92.1M | 24.9M | 92.7M | 25.2M | 88.9M | 17.5M | 49.2M | 18.7M |
| Taxes Paid | 202.2M | 17.3M | 130.4M | 32.3M | 144.4M | 18.9M | 119.5M | 131.5M | 130.8M | 16.8M | 116.3M | 110.2M | 153.4M | 21.5M | 87.7M | 113.6M | 149.4M | 11.5M | 86.6M | 106.8M |