CDW FY 2024 Earnings Report — CDW Corporation Revenue & Financial Results | Market Cap Arena

CDW CorporationCDW

FY 2024 Earnings

Reported February 21, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$21.0B	—	$21.4B	—	-1.8%
Op. Income	$1.7B	—	$1.7B	—	-1.8%
Gross Margin	21.9%	—	21.8%	—	0.2pp
Net Margin	5.1%	—	5.2%	—	-0.0pp
EPS (Diluted)	$7.97	—	$8.10	—	-1.6%
Free Cash Flow	$1.2B	—	$1.5B	—	-20.4%

Revenue Flow

Item	Amount
REVENUE	$21.0B
Cost of Revenue	$16.4B
GROSS PROFIT	$4.6B
R&D Expenses	$0
Selling & Marketing	$218M
General & Administrative	$2.7B
SG&A Expenses	$2.9B
Other Expenses	$25M
Operating Expenses	$3.0B
Cost & Expenses	$19.3B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$215M
Other Income/Expenses	-$216M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$358M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$275M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$21.0B
Cost of Revenue	$16.4B
GROSS PROFIT	$4.6B
R&D Expenses	$0
Selling & Marketing	$218M
General & Administrative	$2.7B
SG&A Expenses	$2.9B
Other Expenses	$25M
Operating Expenses	$3.0B
Cost & Expenses	$19.3B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$215M
Other Income/Expenses	-$216M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$358M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$275M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$275M
Stock-Based Compensation	$65M
Deferred Income Tax	-$14M
Other Non-Cash Items	$36M
Change in Working Capital	-$163M
OPERATING CASH FLOW	$1.3B
Capital Expenditure	-$123M
Acquisitions (Net)	-$324M
Purchases of Investments	-$211M
Sales/Maturities of Investments	$0
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$659M
Net Debt Issuance	$235M
Common Stock Repurchased	-$500M
Common Dividends Paid	-$332M
Other Financing Activities	-$90M
NET CASH FROM FINANCING	-$687M
FREE CASH FLOW	$1.2B
Net Change in Cash	-$81M

Balance Sheet

Item	Amount
Cash & Equivalents	$504M
Short-Term Investments	$214M
Net Receivables	$5.6B
Inventory	$605M
Other Current Assets	$404M
TOTAL CURRENT ASSETS	$7.4B
PP&E (Net)	$312M
Goodwill	$4.6B
Intangible Assets	$1.4B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.0B
TOTAL NON-CURRENT ASSETS	$7.3B
TOTAL ASSETS	$14.7B
Account Payables	$3.4B
Short-Term Debt	$236M
Deferred Revenue	$491M
Other Current Liabilities	$812M
TOTAL CURRENT LIABILITIES	$5.5B
Long-Term Debt	$5.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$167M
Other Non-Current Liabilities	$928M
TOTAL NON-CURRENT LIABILITIES	$6.9B
TOTAL LIABILITIES	$12.3B
Common Stock	$1M
Additional Paid-In Capital	$3.8B
Retained Earnings	-$1.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$160M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$0
TOTAL EQUITY	$2.4B
TOTAL LIABILITIES & EQUITY	$14.7B
Total Debt	$6.0B
Net Debt	$5.5B