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CDW CDW Q3 2025 earnings

Reported November 4, 2025 · Before market open

Revenue$5.7BMiss by $12.1M
EPS$2.71Beat by $0.09
Revenue estimate$5.7B
EPS estimate$2.62

Next report

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

Financials

Q3 2025

Income statement

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Revenue$5.7B+4.0%
Gross profit$1.3B+4.6%
Operating income$443.3M-8.0%
Net income$291.0M-8.0%
EPS (diluted)$2.21-5.6%

Balance sheet

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Cash & equivalents$452.9M-52.2%
Total debt$5.8B-7.0%
Total equity$2.5B+8.1%
Total assets$15.2B+5.7%

Cash flow

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Operating cash flow$328.3M-4.0%
CapEx$29.8M-11.3%
Free cash flow$298.5M-3.2%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$20.88B-30.9%
Enterprise value$26.18B-26.2%
P/E19.9×-7.4×
P/S0.9×-0.5×

Profitability

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Gross margin21.6%-0.5pp
Operating margin7.4%-0.7pp
Net margin4.8%-0.6pp
FCF margin4.6%-1.9pp

Returns & leverage

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Return on equity43%-10.4pp
Debt / equity2.3×-0.4×
Current ratio1.4×0.0×

Segments

By product

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Hardware$4.1B+3.3%
Notebooks/Mobile Devices$1.4B+4.6%
Software$1.1B+4.3%
Netcomm Products$735.8M+10.2%
Other Hardware$653.1M-1.5%

By segment

See full
Other$698.4M+9.1%

FAQ

When did CDW report Q3 2025 earnings?
CDW (CDW) reported Q3 2025 earnings on November 4, 2025 before market open.
What were CDW's Q3 2025 revenue and EPS?
CDW reported revenue of $5.7B and eps of $2.71 for Q3 2025.
Did CDW beat estimates in Q3 2025?
Revenue missed the consensus estimate of $5.7B by $12.1M. EPS beat the consensus estimate of $2.62 by $0.09.
How did CDW's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 4.0% from $5.5B a year earlier and eps grew 3.0% from $2.63.
Where can I find CDW's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001402057-25-000191) and the 10-Q periodic report (0001402057-25-000193) directly on SEC EDGAR. The filing index links above go to sec.gov.