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CDW CDW Q2 2025 earnings

Reported August 6, 2025 · Before market open

Revenue$6.0BBeat by $464.2M
EPS$2.60Beat by $0.11
Revenue estimate$5.5B
EPS estimate$2.49

Next report

Nov 3, 2026 (in 2 months)
Revenue estimate$6.2B
EPS estimate$2.92

Financials

Q2 2025

Income statement

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Revenue$6.0B+10.2%
Gross profit$1.2B+4.9%
Operating income$420.2M-3.0%
Net income$271.2M-3.5%
EPS (diluted)$2.05-1.0%

Balance sheet

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Cash & equivalents$481.0M-27.7%
Total debt$5.8B-0.4%
Total equity$2.5B+13.4%
Total assets$15.3B+11.9%

Cash flow

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Operating cash flow$155.9M+4.0%
CapEx$22.5M-27.2%
Free cash flow$133.4M+12.1%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$23.68B-21.3%
Enterprise value$28.97B-17.7%
P/E22×-5.1×
P/S1.1×-0.4×

Profitability

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Gross margin21.6%-0.5pp
Operating margin7.6%-0.4pp
Net margin4.9%-0.4pp
FCF margin4.7%-2.3pp

Returns & leverage

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Return on equity46.4%-12.2pp
Debt / equity2.3×-0.3×
Current ratio1.3×+0.2×

Segments

By product

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Hardware$4.4B+9.4%
Notebooks/Mobile Devices$1.6B+9.7%
Software$990.2M+15.7%
Netcomm Products$740.0M+15.7%
Other Hardware$653.8M+0.2%

By segment

See full
Other$672.1M+11.6%

FAQ

When did CDW report Q2 2025 earnings?
CDW (CDW) reported Q2 2025 earnings on August 6, 2025 before market open.
What were CDW's Q2 2025 revenue and EPS?
CDW reported revenue of $6.0B and eps of $2.60 for Q2 2025.
Did CDW beat estimates in Q2 2025?
Revenue beat the consensus estimate of $5.5B by $464.2M. EPS beat the consensus estimate of $2.49 by $0.11.
How did CDW's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 10.2% from $5.4B a year earlier and eps grew 4.0% from $2.50.
Where can I find CDW's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001402057-25-000144) and the 10-Q periodic report (0001402057-25-000145) directly on SEC EDGAR. The filing index links above go to sec.gov.