CDW Corporation income statement

In fiscal 2025, CDW Corporation reported revenue of $22.42bn, up 6.8% on the year before, operating income of $1.66bn (a 7.4% margin) and net income of $1.07bn, or $8.08 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

CDW Corporation: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	7.2	8.8	9.6	10.1	10.8	12.1	13.0	13.7	14.8	16.2	18.0	18.5	20.8	23.7	21.4	21.0	22.4	23.5
Cost of revenue	6.0	7.4	8.0	8.5	9.0	10.2	10.9	11.3	12.4	13.5	15.0	15.3	17.3	19.1	16.7	16.4	17.6	18.5
Gross profit	1.1	1.4	1.6	1.7	1.8	1.9	2.1	2.3	2.5	2.7	3.0	3.2	3.6	4.7	4.7	4.6	4.9	5.0
Selling, general and administrative	0.8	0.9	1.0	1.0	1.1	1.1	1.2	1.3	1.4	1.7	1.9	2.0	2.1	3.0	3.0	3.0	3.2	3.3
Operating income	−0.0	0.4	0.5	0.5	0.5	0.7	0.7	0.8	0.9	1.0	1.1	1.2	1.4	1.7	1.7	1.7	1.7	1.7
Interest expense	0.4	0.4	0.3	0.3	0.3	—	—	—	—	—	—	—	—	—	—	—	—	—
Net interest income	—	—	—	0.3	−0.3	−0.2	−0.2	−0.1	−0.2	−0.1	−0.2	−0.2	−0.2	−0.2	−0.2	—	—	—
Income before tax	−0.5	−0.0	0.0	0.2	0.2	0.4	0.6	0.7	0.7	0.8	0.9	1.0	1.3	1.5	1.5	1.4	1.4	1.5
Income tax	−0.1	−0.0	0.0	0.1	0.1	0.1	0.2	0.2	0.1	0.2	0.2	0.2	0.3	0.4	0.3	0.4	0.4	0.4
Net income	−0.4	−0.0	0.0	0.1	0.1	0.2	0.4	0.4	0.5	0.6	0.7	0.8	1.0	1.1	1.1	1.1	1.1	1.1
Diluted EPS	—	−$0.20	$0.12	$0.82	$0.84	$1.42	$2.35	$2.56	$3.31	$4.19	$4.99	$5.45	$7.04	$8.13	$8.10	$7.97	$8.08	$8.32
Diluted shares (average)	—	144m	145m	146m	159m	173m	172m	166m	158m	154m	148m	145m	141m	137m	136m	135m	132m	130m
EBITDA	0.2	0.6	0.7	0.7	0.7	0.9	1.0	1.1	1.1	1.3	1.4	1.6	1.6	2.0	2.0	1.9	2.0	2.0

US$ millions unless shown otherwise. Fiscal quarters.

CDW Corporation: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	5,517	5,186	5,199	5,977	5,737	5,511	5,680	6,572
Cost of revenue	4,316	4,031	4,077	4,735	4,482	4,257	4,490	5,252
Gross profit	1,201	1,155	1,122	1,241	1,256	1,254	1,190	1,320
Selling, general and administrative	719	747	761	821	812	824	814	891
Operating income	482	409	361	420	443	431	376	429
Income before tax	428	352	304	365	389	369	319	373
Income tax	111	87	79	94	98	90	84	99
Net income	316	264	225	271	291	280	235	274
Diluted EPS	$2.34	$1.97	$1.69	$2.05	$2.21	$2.14	$1.82	$2.15
EBITDA	551	478	436	494	517	505	451	504

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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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.