What is CDW's commercial — cost of sales?

CDW (CDW) reported commercial — cost of sales of $2.77B in Q1 2026.

What does commercial — cost of sales mean?

The direct costs incurred to acquire the products and services sold to commercial customers.

How do you interpret commercial — cost of sales?

An increase relative to sales may indicate rising procurement costs or pricing pressure, while a decrease relative to sales suggests improved supply chain efficiency or better vendor terms.

How does commercial — cost of sales compare across companies?

Comparable to cost of goods sold (COGS) for specific business segments in the technology distribution and services industry.

CDW CDW Commercial — Cost of Sales

Other segment segments

Other

$647.8M+18.2%

Education

$562.5M—

Government

$508.2M—

Similar metrics at other companies

TTMICommercial — Cost of Goods Sold

$393.34M+46.2%

SNEXCommercial — Cost of sales of physical commodities

$44.19B+23.0%

CNCCommercial — Cost of Services

$0—

PAGCommercial vehicle distribution and other — Total cost of sales

$155.7M-6.9%

PAGRetail Commercial Truck Dealership — Cost of Goods Sold

$566.4M-17.0%

CPNGProduct Commerce — Cost of Sales

$5B+6.0%

Other financials

Income statement

See full

Revenue$5.7B+9.2%

Gross profit$1.2B+6.0%

Operating income$376.0M+4.0%

Net income$235.4M+4.7%

EPS (diluted)$1.82+7.7%

Balance sheet

See full

Cash & equivalents$578.6M+22.7%

Total debt$5.8B-3.4%

Total equity$2.6B+10.0%

Total assets$16.5B+9.6%

Cash flow

See full

Operating cash flow$274.8M-4.3%

CapEx$26.4M-1.9%

Free cash flow$248.4M-4.6%

Valuation

See full

Market cap$16.4B-26.5%

Enterprise value$21.61B-22.2%

P/E15.2×-5.3×

P/S0.7×-0.3×

Profitability

See full

Gross margin21.6%-0.3pp

Operating margin7.3%-0.6pp

Net margin4.7%-0.4pp

FCF margin4.7%0.0pp

Returns & leverage

See full

Return on equity44.2%-4.5pp

Debt / equity2.3×-0.3×

Current ratio1.2×-0.2×

Where this comes from

Reported directly by CDW in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The official record: CDW’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CDW's commercial — cost of sales?: CDW (CDW) reported commercial — cost of sales of $2.77B in Q1 2026.
What does commercial — cost of sales mean?: The direct costs incurred to acquire the products and services sold to commercial customers.
How do you interpret commercial — cost of sales?: An increase relative to sales may indicate rising procurement costs or pricing pressure, while a decrease relative to sales suggests improved supply chain efficiency or better vendor terms.
How does commercial — cost of sales compare across companies?: Comparable to cost of goods sold (COGS) for specific business segments in the technology distribution and services industry.