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CDW CDW Commercial — Net Sales

Other segment segments

Education
$933.1M
Government
$848M
Other
$825.7M+22.9%

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Other financials

Income statement

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Revenue$6.6B+10.0%
Gross profit$1.3B+6.3%
Operating income$428.6M+2.0%
Net income$274.4M+1.2%
EPS (diluted)$2.15+4.9%

Balance sheet

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Cash & equivalents$361.8M-24.8%
Total debt$6.0B+3.4%
Total equity$2.4B-1.0%
Total assets$17.3B+13.0%

Cash flow

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Operating cash flow$274.8M-4.3%
CapEx$27.5M+22.2%
Free cash flow$248.4M-4.6%

Valuation

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Market cap$17.9B-17.9%
Enterprise value$23.5B-13.2%
P/E16.6×-3.7×
P/S0.8×-0.2×

Profitability

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Gross margin21.4%-0.2pp
Operating margin7.1%-0.5pp
Net margin4.6%-0.3pp
FCF margin4.7%0.0pp

Returns & leverage

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Return on equity44%-2.4pp
Debt / equity2.4×+0.1×
Current ratio1.2×-0.2×

Where this comes from

Reported directly by CDW in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: CDW’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:04 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001402057-26-000065
Three Months Ended June 30, 2026CommercialGovernmentEducationOtherHeadquartersTotal
Net sales$3,965.4$848.0$933.1$825.7$6,572.2
Cost of sales3,120.1684.3780.1667.95,252.4
Gross profit845.3163.7153.0157.81,319.8
Other segment expense items(1)462.7103.887.9105.8131.0891.2
Operating income (loss)$382.6$59.9$65.1$52.0$(131.0)$428.6
Other Segment Information(2)
Depreciation and amortization expense$27.0$10.4$3.3$8.0$26.6$75.3
Three Months Ended June 30, 2025

Item 1. Financial Statements

FAQ

What is CDW's commercial — net sales?
CDW (CDW) reported commercial — net sales of $3.97B in Q2 2026.
What does commercial — net sales mean?
Represents the total revenue generated from the sale of IT products, services, and solutions to commercial customers. This metric reflects the top-line performance of the business segment serving small to medium-sized and large corporate enterprises. It is a primary indicator of market demand and the company's ability to capture IT spending within the commercial sector.

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