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CDW CDW Q4 2025 Annual earnings

Reported February 4, 2026 · Before market open

Revenue$5.5BBeat by $179.0M
EPS$2.57Beat by $0.13
Revenue estimate$5.3B
EPS estimate$2.44

Next report

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

Financials

Q4 2025

Income statement

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Revenue$5.5B+6.3%
Gross profit$1.3B+8.6%
Operating income$430.7M+5.4%
Net income$279.5M+5.8%
EPS (diluted)$2.14+8.6%

Balance sheet

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Cash & equivalents$618.7M+22.9%
Total debt$5.8B-3.4%
Total equity$2.6B+10.8%
Total assets$16.0B+9.2%

Cash flow

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Operating cash flow$433.8M+25.6%
CapEx$37.9M+32.5%
Free cash flow$395.9M+25.0%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$17.73B-23.5%
Enterprise value$22.93B-20.1%
P/E16.6×-4.9×
P/S0.8×-0.3×

Profitability

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Gross margin21.7%-0.2pp
Operating margin7.4%-0.5pp
Net margin4.8%-0.4pp
FCF margin4.9%-0.6pp

Returns & leverage

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Return on equity43%-6.0pp
Debt / equity2.2×-0.3×
Current ratio1.2×-0.2×

Segments

By product

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Hardware$3.8B+3.9%
Notebooks/Mobile Devices$1.3B+12.3%
Software$1.2B+14.1%
Netcomm Products$664.0M+0.4%
Other Hardware$617.3M-3.4%

By segment

See full
Other$668.9M+10.2%

FAQ

When did CDW report Q4 2025 earnings?
CDW (CDW) reported Q4 2025 earnings on February 4, 2026 before market open.
What were CDW's Q4 2025 revenue and EPS?
CDW reported revenue of $5.5B and eps of $2.57 for Q4 2025.
Did CDW beat estimates in Q4 2025?
Revenue beat the consensus estimate of $5.3B by $179.0M. EPS beat the consensus estimate of $2.44 by $0.13.
How did CDW's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.3% from $5.2B a year earlier and eps grew 3.6% from $2.48.
Where can I find CDW's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001402057-26-000001) and the 10-K periodic report (0001402057-26-000011) directly on SEC EDGAR. The filing index links above go to sec.gov.