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CDW Corporation cash flow statement

In fiscal 2025, CDW Corporation's operations generated $1.21bn of cash; it spent $117m on capital projects, leaving free cash flow of $1.09bn. It returned $329m in dividends and $653m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations1084242153173664352786047789061,0271,3147851,3361,5991,2771,205982
Depreciation and amortisation218209205210208208227255261266267426191291271275296298
Stock-based pay161220224716313944414943739194658490
Capital spending16424641475590648186236158100128148123117122
Free cash flow923821692763193801875416978207911,1566851,2081,4511,1551,088860
Free cash flow after stock pay763711502542733641565016537797421,1146121,1171,3571,0901,005770
Dividends paid——007345379107139183220235283322332329324
Share buybacks0001002413675345226573411,5000500500653848
Shares issued——0042500———————————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from CDW Corporation's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to CDW Corporation.