$13.2 B

CDW Mkt cap, 18-Jul-2018
CDW Net income (Q1, 2018)127 M
CDW Cash, 31-Mar-2018221 M

CDW Revenue Breakdown

Embed Graph

CDW revenue breakdown by business segment: 40.0% from Public, 50.3% from Corporate and 9.7% from Other

CDW Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

12.1 b13 b14 b

Revenue growth, %

12%8%8%

Cost of goods sold

10.2 b10.9 b11.7 b

Gross profit

1.9 b2.1 b2.3 b

Gross profit Margin, %

16%16%17%

EBITDA

792.9 m1 b1.1 b

EBITDA margin, %

7%8%8%

EBIT

673 m742 m819.2 m

EBIT margin, %

6%6%6%

Interest expense

197.3 m159.5 m146.5 m

Pre tax profit

387.7 m647 m672.4 m

Income tax expense

142.8 m243.9 m248 m

Net Income

244.9 m403.1 m424.4 m523 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

2.9 b2.7 b3.1 b3.3 b2.8 b3.3 b3.5 b3.1 b3.7 b3.7 b3.3 b4 b

Cost of goods sold

2.4 b2.2 b2.6 b2.8 b2.3 b2.8 b2.9 b2.6 b3.1 b3.1 b2.8 b3.4 b

Gross profit

458.4 m425.2 m496.9 m507.3 m456.5 m534.5 m567.2 m524.5 m610.5 m614.3 m552.6 m641.1 m

Gross profit Margin, %

16%16%16%16%17%16%16%17%17%17%17%16%

General and administrative expense

332.4 m260.9 m273.9 m285.4 m275.5 m290.6 m321.4 m329.3 m344.7 m334.9 m347.4 m363.5 m

Operating expense total

332.4 m260.9 m273.9 m285.4 m275.5 m290.6 m321.4 m329.3 m344.7 m334.9 m347.4 m363.5 m

EBIT

92.9 m135.8 m188.2 m184.7 m151.6 m205.9 m204.6 m161 m223.5 m237.5 m169.8 m231.1 m

EBIT margin, %

3%5%6%6%6%6%6%5%6%6%5%6%

Interest expense

56.2 m50.1 m48.5 m50.1 m44.8 m37.8 m38.5 m38.1 m36.9 m37.6 m39.7 m35.9 m

Interest income

50.1 m44.8 m37.8 m38.5 m38.1 m36.9 m37.6 m39.7 m

Pre tax profit

(4.8 m)80.8 m137.2 m89.5 m87 m172.1 m246.2 m123.9 m187.5 m198.2 m73.6 m195.5 m

Income tax expense

2.6 m(29.9 m)(50.6 m)(33.9 m)(32.3 m)(63.9 m)(95.3 m)(46.1 m)(70 m)(72.3 m)(16 m)(54.5 m)

Net Income

(2.2 m)50.9 m86.6 m55.6 m54.7 m108.2 m150.9 m77.8 m117.5 m125.9 m57.6 m141 m127 m

CDW Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

188.1 m344.5 m37.6 m263.7 m

Current Assets

2.2 b2.5 b2.8 b3.2 b

PP&E

131.1 m137.2 m175.4 m163.7 m

Goodwill

2.2 b2.2 b2.5 b2.5 b

Total Assets

5.9 b6.1 b6.8 b6.9 b

Accounts Payable

664 k

Short-term debt

45.4 m15.4 m27.2 m18.5 m

Current Liabilities

1.4 b1.5 b1.9 b2.3 b

Long-term debt

3.2 b3.2 b3.2 b3.2 b

Non-Current Liabilities

3.8 b3.7 b3.8 b3.6 b

Total Debt

3.3 b3.2 b3.3 b3.2 b

Total Liabilities

5.2 b5.2 b5.7 b5.9 b

Additional Paid-in Capital

2.7 b2.7 b2.8 b2.9 b

Retained Earnings

(2 b)(1.8 b)(1.7 b)(1.7 b)

Total Equity

711.7 m936.5 m1.1 b1 b

Debt to Equity Ratio

4.6 x3.4 x3 x3.1 x

Debt to Assets Ratio

0.5 x0.5 x0.5 x0.5 x

Financial Leverage

8.3 x6.5 x6.2 x6.6 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

350.2 m306.7 m227.6 m357.8 m447.4 m335.7 m97.5 m248.2 m129.4 m118.3 m251.7 m79 m221 m

Current Assets

2.3 b2.2 b2.4 b2.5 b2.5 b2.7 b2.7 b2.8 b3.1 b3 b3.1 b3.4 b

PP&E

129.6 m129.9 m129.8 m131.7 m135.1 m134.2 m154.4 m168.4 m163.8 m162.5 m162.4 m160.7 m

Goodwill

2.2 b2.2 b2.2 b2.2 b2.2 b2.2 b2.5 b2.5 b2.5 b2.5 b2.5 b2.5 b

Total Assets

6 b5.9 b6 b6.1 b6.1 b6.3 b6.7 b6.7 b6.9 b6.8 b6.8 b7 b

Current Liabilities

1.5 b1.4 b1.5 b1.5 b1.4 b1.6 b1.9 b1.9 b2.2 b2.1 b2.2 b2.6 b

Non-Current Liabilities

3.9 b3.7 b3.7 b3.7 b3.7 b3.6 b3.8 b3.7 b3.7 b3.7 b3.6 b3.6 b

Common Stock

1.7 m1.6 m1.6 m1.6 m

Preferred Stock

Additional Paid-in Capital

2.7 b2.7 b2.7 b2.7 b2.7 b2.7 b2.8 b2.8 b2.8 b2.8 b2.9 b2.9 b

Retained Earnings

(2 b)(1.9 b)(1.8 b)(1.8 b)(1.7 b)(1.7 b)(1.7 b)(1.7 b)(1.7 b)(1.7 b)(1.8 b)(1.9 b)

Total Equity

659.8 m754.8 m844.8 m894 m975.5 m995.8 m1.1 b1 b1 b990.5 m907.3 m849.1 m

Financial Leverage

9.2 x7.8 x7.2 x6.8 x6.2 x6.3 x6.3 x6.5 x6.8 x6.8 x7.5 x8.3 x

CDW Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

132.8 m244.9 m403.1 m424.4 m523 m

Depreciation and Amortization

254.5 m

Accounts Receivable

(170.8 m)(117.6 m)(342.6 m)(179.9 m)

Cash From Operating Activities

366.3 m435 m277.5 m604 m

Cash From Investing Activities

(47.1 m)(164.8 m)(354.4 m)(65.9 m)

Short-term Borrowings

(63 m)(314.5 m)(338.8 m)

Long-term Borrowings

(51.1 m)(15.4 m)(32.8 m)(20.6 m)

Dividends Paid

(7.3 m)(33.6 m)(52.9 m)(78.7 m)

Cash From Financing Activities

(168.3 m)(112 m)(226.5 m)(304.6 m)

Interest Paid

(144.3 m)

Free Cash Flow

413.4 m490 m367.6 m540.5 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

72.8 m50.9 m137.5 m193.1 m54.7 m162.9 m313.8 m77.8 m195.3 m321.2 m57.6 m198.7 m127 m

Depreciation and Amortization

156.3 m52 m104 m155.9 m52.5 m105.1 m165 m64 m127.7 m190.7 m64.2 m129.5 m

Accounts Receivable

(27.9 m)113.2 m(75.7 m)(26.2 m)105.4 m(157.7 m)(178.4 m)237.6 m(74.9 m)(17.9 m)184.6 m(156.3 m)

Cash From Operating Activities

370.8 m246.3 m175.9 m350.5 m177.8 m99.1 m294.9 m427.6 m313.1 m499.3 m369.9 m376.2 m

Cash From Investing Activities

(30.5 m)(30.2 m)(41.9 m)(56 m)(10.5 m)(23.4 m)(308.2 m)(11 m)(25.7 m)(43.5 m)(19.6 m)(36.8 m)

Short-term Borrowings

(63 m)

Long-term Borrowings

(47.2 m)(3.9 m)(7.7 m)(11.6 m)(3.9 m)(7.7 m)(26.1 m)(6.7 m)(13.4 m)(17 m)(3.7 m)(7.5 m)

Dividends Paid

7.3 m(14.6 m)(21.9 m)(11.7 m)(23.2 m)(34.6 m)(18 m)(35.7 m)(53.1 m)(25.5 m)

Cash From Financing Activities

(27.4 m)(97 m)(94.7 m)(123.7 m)(62.7 m)(83.1 m)(229.9 m)(206.4 m)(192.7 m)(370.9 m)(362.2 m)(526.7 m)

Interest Paid

(169.5 m)(16.1 m)(99.8 m)(127.2 m)(53.1 m)(81.3 m)(125.4 m)(44.1 m)(73 m)(117.4 m)(48.4 m)

Income Taxes Paid

(96.5 m)

Free Cash Flow

340.3 m237 m154.9 m316.1 m167.8 m76.2 m339.4 m
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CDW Operating Metrics

CDW's Enterprise Customers was reported to be 250 k in FY, 2016.
Q1, 2014Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017

Brands

1 k1 k1 k1 k1 k1 k1 k1 k1 k1 k1 k1 k1 k

Countries

100 80 80

Distribution Centers

2 2 2

Enterprise Customers

250 k250 k250 k

Products

100 k100 k100 k100 k100 k100 k100 k100 k100 k100 k100 k100 k100 k

Salesmen

4.40 k4.50 k4.60 k4.60 k4.60 k4.60 k5 k5 k5 k5 k5 k5.50 k5.50 k
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