CDW Corporation (CDW) Financial Ratios
32 years of historical data (1994–2025) · Technology · Information Technology Services
EV/EBITDA
↓
11.33
↓-32% vs avg
5yr avg: 16.59
30Y Low9.4·High22.3
P/FCF
↓
15.07
↓-37% vs avg
5yr avg: 24.11
30Y Low11.6·High42.0
P/B Ratio
↓
6.51
↓-63% vs avg
5yr avg: 17.62
30Y Low5.2·High40.8
ROE
↓
43.0%
↑-38% vs avg
5yr avg: 69.6%
30Y Low-56%·High184%
Debt/EBITDA
↓
3.24
↓-4% vs avg
5yr avg: 3.38
30Y Low2.6·High24.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CDW Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
CDW Corporation trades at 15.9x earnings, 33% below its 5-year average of 23.6x, sitting at the 0th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a discount of 45%. On a free-cash-flow basis, the stock trades at 15.1x P/FCF, 37% below the 5-year average of 24.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.4B | $18.0B | $23.5B | $31.0B | $24.5B | $28.8B | $19.1B | $21.1B | $12.4B | $11.0B | $8.6B |
| Enterprise Value | $22.1B | $23.7B | $29.0B | $36.2B | $30.2B | $35.9B | $22.2B | $24.8B | $15.5B | $14.1B | $11.6B |
| P/E Ratio → | 15.89 | 16.86 | 21.84 | 28.06 | 21.94 | 29.09 | 24.18 | 28.63 | 19.34 | 20.99 | 20.35 |
| P/S Ratio | 0.73 | 0.80 | 1.12 | 1.45 | 1.03 | 1.38 | 1.03 | 1.17 | 0.77 | 0.74 | 0.63 |
| P/B Ratio | 6.51 | 6.90 | 10.00 | 15.17 | 15.26 | 40.77 | 14.71 | 21.98 | 12.77 | 11.15 | 8.27 |
| P/FCF | 15.07 | 16.54 | 20.38 | 21.36 | 20.25 | 42.03 | 16.50 | 26.69 | 15.19 | 15.78 | 16.00 |
| P/OCF | 13.61 | 14.93 | 18.42 | 19.38 | 18.31 | 36.67 | 14.52 | 20.55 | 13.74 | 14.14 | 14.32 |
P/E links to full P/E history page with 30-year chart
CDW EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
CDW Corporation's enterprise value stands at 11.3x EBITDA, 32% below its 5-year average of 16.6x. The Technology sector median is 16.7x, placing the stock at a 32% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.06 | 1.38 | 1.69 | 1.27 | 1.72 | 1.20 | 1.37 | 0.95 | 0.95 | 0.85 |
| EV / EBITDA | 11.33 | 12.15 | 15.06 | 18.55 | 14.93 | 22.27 | 13.86 | 17.69 | 12.33 | 12.49 | 10.81 |
| EV / EBIT | 13.36 | 14.32 | 17.59 | 21.59 | 17.55 | 24.76 | 19.22 | 22.35 | 15.62 | 17.36 | 14.17 |
| EV / FCF | — | 21.78 | 25.13 | 24.96 | 25.04 | 52.39 | 19.23 | 31.34 | 18.85 | 20.22 | 21.49 |
CDW Profitability
Margins and return-on-capital ratios measuring operating efficiency
CDW Corporation earns an operating margin of 7.4%. Return on equity of 43.0% is exceptionally high. ROIC of 15.4% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.7% | 21.7% | 21.9% | 21.8% | 19.7% | 17.1% | 17.4% | 16.9% | 16.7% | 16.5% | 17.0% |
| Operating Margin | 7.4% | 7.4% | 7.9% | 7.9% | 7.3% | 6.8% | 6.4% | 6.3% | 6.1% | 5.8% | 6.0% |
| Net Profit Margin | 4.8% | 4.8% | 5.1% | 5.2% | 4.7% | 4.7% | 4.3% | 4.1% | 4.0% | 3.5% | 3.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 43.0% | 43.0% | 49.0% | 60.6% | 96.5% | 98.7% | 69.9% | 76.1% | 65.6% | 51.5% | 39.7% |
| ROA | 6.9% | 6.9% | 7.7% | 8.4% | 8.5% | 8.8% | 9.1% | 9.7% | 9.1% | 7.5% | 6.2% |
| ROIC | 15.4% | 15.4% | 16.4% | 17.2% | 17.1% | 17.4% | 19.5% | 19.7% | 18.4% | 16.1% | 14.8% |
| ROCE | 18.4% | 18.4% | 19.4% | 21.0% | 21.3% | 20.9% | 23.7% | 25.6% | 22.4% | 19.0% | 17.2% |
CDW Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
CDW Corporation carries a Debt/EBITDA ratio of 3.2x, which is moderately leveraged (10% above the sector average of 2.9x). Net debt stands at $5.7B ($6.3B total debt minus $619M cash). Interest coverage of 7.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.43 | 2.43 | 2.55 | 2.84 | 3.80 | 10.42 | 3.52 | 3.99 | 3.29 | 3.28 | 3.09 |
| Debt / EBITDA | 3.24 | 3.24 | 3.11 | 2.98 | 3.01 | 4.57 | 2.85 | 2.73 | 2.56 | 2.87 | 3.01 |
| Net Debt / Equity | — | 2.19 | 2.33 | 2.56 | 3.61 | 10.05 | 2.43 | 3.83 | 3.08 | 3.14 | 2.84 |
| Net Debt / EBITDA | 2.93 | 2.93 | 2.85 | 2.67 | 2.85 | 4.41 | 1.97 | 2.62 | 2.40 | 2.74 | 2.76 |
| Debt / FCF | — | 5.25 | 4.75 | 3.60 | 4.79 | 10.36 | 2.73 | 4.64 | 3.66 | 4.44 | 5.50 |
| Interest Coverage | 7.28 | 7.28 | 7.69 | 7.40 | 7.31 | 9.60 | 7.47 | 6.96 | 6.66 | 5.39 | 5.60 |
CDW Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.18x means CDW Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.23x to 1.18x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.18 | 1.18 | 1.35 | 1.23 | 1.33 | 1.27 | 1.53 | 1.24 | 1.35 | 1.35 | 1.42 |
| Quick Ratio | 1.10 | 1.10 | 1.24 | 1.11 | 1.17 | 1.09 | 1.33 | 1.07 | 1.19 | 1.18 | 1.22 |
| Cash Ratio | 0.09 | 0.09 | 0.13 | 0.11 | 0.06 | 0.05 | 0.36 | 0.04 | 0.07 | 0.06 | 0.12 |
| Asset Turnover | — | 1.40 | 1.43 | 1.61 | 1.81 | 1.58 | 1.98 | 2.25 | 2.27 | 2.13 | 1.97 |
| Inventory Turnover | 31.15 | 31.15 | 27.09 | 25.03 | 23.82 | 18.60 | 20.08 | 24.53 | 29.79 | 30.09 | 25.10 |
| Days Sales Outstanding | — | 111.77 | 98.13 | 86.03 | 76.08 | 86.51 | 71.00 | 68.77 | 67.15 | 65.76 | 64.16 |
CDW Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
CDW Corporation returns 5.9% to shareholders annually — split between a 1.9% dividend yield and 4.0% buyback yield. The payout ratio of 30.8% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 6.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.9% | 1.8% | 1.4% | 1.0% | 1.2% | 0.8% | 1.2% | 0.9% | 1.1% | 1.0% | 0.9% |
| Payout Ratio | 30.8% | 30.8% | 30.8% | 29.1% | 25.4% | 23.8% | 27.9% | 24.9% | 21.7% | 20.4% | 18.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.3% | 5.9% | 4.6% | 3.6% | 4.6% | 3.4% | 4.1% | 3.5% | 5.2% | 4.8% | 4.9% |
| FCF Yield | 6.6% | 6.0% | 4.9% | 4.7% | 4.9% | 2.4% | 6.1% | 3.7% | 6.6% | 6.3% | 6.3% |
| Buyback Yield | 4.0% | 3.6% | 2.1% | 1.6% | 0.0% | 5.2% | 1.8% | 3.1% | 4.2% | 4.9% | 4.2% |
| Total Shareholder Yield | 5.9% | 5.5% | 3.5% | 2.7% | 1.2% | 6.0% | 2.9% | 4.0% | 5.3% | 5.8% | 5.2% |
| Shares Outstanding | — | $132M | $135M | $136M | $137M | $141M | $145M | $148M | $154M | $158M | $166M |
Peer Comparison
Compare CDW with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CDWYou | $16B | 15.9 | 11.3 | 15.1 | 21.7% | 7.4% | 43.0% | 15.4% | 3.2 |
 NSIT | $3B | 22.3 | 9.3 | 11.7 | 21.4% | 4.6% | 9.2% | 10.3% | 3.3 |
 PC | $188M | -19.9 | — | 408.9 | 16.1% | -28.8% | — | -22.3% | — |
 SCSC | $1B | 16.5 | 8.9 | 9.7 | 13.4% | 2.8% | 7.8% | 7.0% | 1.3 |
 SNX | $23B | 28.6 | 13.7 | 16.5 | 7.0% | 2.3% | 10.0% | 9.9% | 2.5 |
 AVT | $7B | 33.3 | 13.6 | 13.0 | 10.7% | 2.8% | 4.8% | 6.0% | 3.8 |
 ARW | $12B | 21.3 | 13.6 | — | 11.2% | 3.0% | 9.1% | 7.6% | 2.9 |
 CNXN | $2B | 21.6 | 13.6 | 30.7 | 18.8% | 3.6% | 9.2% | 10.6% | 0.0 |
 PLUS | $2B | 16.3 | 9.0 | — | 24.1% | 6.8% | 12.6% | 17.9% | 0.1 |
 SIFY | $1B | -132.5 | 17.6 | — | 37.5% | 5.7% | -4.1% | 3.3% | 5.0 |
 MSFT | $2.8T | 27.8 | 17.8 | 39.4 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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CDW — Frequently Asked Questions
Quick answers to the most common questions about buying CDW stock.
What is CDW Corporation's P/E ratio?
CDW Corporation's current P/E ratio is 15.9x. The historical average is 23.2x.
What is CDW Corporation's EV/EBITDA?
CDW Corporation's current EV/EBITDA is 11.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.9x.
What is CDW Corporation's ROE?
CDW Corporation's return on equity (ROE) is 43.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 43.2%.
Is CDW stock overvalued?
Based on historical data, CDW Corporation is trading at a P/E of 15.9x. Compare with industry peers and growth rates for a complete picture.
What is CDW Corporation's dividend yield?
CDW Corporation's current dividend yield is 1.94% with a payout ratio of 30.8%.
What are CDW Corporation's profit margins?
CDW Corporation has 21.7% gross margin and 7.4% operating margin.
How much debt does CDW Corporation have?
CDW Corporation's Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.