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CDW CDW Public — Operating Income (Loss)

Discontinued — last reported Q4 '25

Other segment segments

Commercial
$354.7M
Other
$46.5M+18.9%
Education
$39.4M
Government
$25.2M

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Other financials

Income statement

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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

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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

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Operating cash flow$274.8M-4.3%
CapEx$26.4M-1.9%
Free cash flow$248.4M-4.6%

Valuation

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Market cap$16.4B-26.5%
Enterprise value$21.61B-22.2%
P/E15.2×-5.3×
P/S0.7×-0.3×

Profitability

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Gross margin21.6%-0.3pp
Operating margin7.3%-0.6pp
Net margin4.7%-0.4pp
FCF margin4.7%0.0pp

Returns & leverage

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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:OperatingIncomeLoss.

The official record: CDW’s 10-K, filed February 20, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CDW's public — operating income (loss)?
CDW (CDW) reported public — operating income (loss) of $189.7M in Q4 2025.
How has CDW's public — operating income (loss) changed year-over-year?
CDW's public — operating income (loss) increased by 11.3% year-over-year, from $170.5M to $189.7M.
What is the long-term trend for CDW's public — operating income (loss)?
Over 4 years (2021 to 2025), CDW's public — operating income (loss) has grown at a 5.5% compound annual growth rate (CAGR), from $606.7M to $750.3M.
What does public — operating income (loss) mean?
The profit earned by the Public segment after all direct and operating expenses are paid.
How do you interpret public — operating income (loss)?
Growth indicates improved operational leverage and profitability, while a decline signals rising costs or weakening demand.
How does public — operating income (loss) compare across companies?
Standard operating profit metric; peers report this as the primary measure of segment success.