CDW NASDAQ
CDW Corporation
1W: +4.1%
1M: +23.9%
3M: +9.1%
YTD: +21.8%
1Y: +2.5%
3Y: -17.1%
5Y: -9.3%
$161.41
-1.82 (-1.11%)
Weekly Expected Move ±5.6%
$147
$156
$165
$174
$184
Credit Risk of going bust: higher than 56% of companies Debt: 22.8% of company value Bonds: $155.6M held by 278 funds, 100 bp over Treasuries → details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $4.94 (down 97%), CDW Corporation would be worth roughly what it owes.
Total debt $5.96B against a stock market value of $20.18B.
Distance to default 4.59 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $3.41B (short-term plus half of long-term), stock volatility 47.7%; Altman Z'' 1.03. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $4.94 (down 97%), CDW Corporation would be worth roughly what it owes.
Total debt $5.96B against a stock market value of $20.18B.
Distance to default 4.59 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $3.41B (short-term plus half of long-term), stock volatility 47.7%; Altman Z'' 1.03. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$1.2B
-5.6% ▼
5Y CAGR: -1.7%
Capital Expenditures
$117M
+4.5% ▲
5Y CAGR: -5.8%
Free Cash Flow
$1.1B
-5.8% ▼
5Y CAGR: -1.2%
Dividends Paid
$329M
+1.1% ▲
Buybacks
$653M
-30.6% ▼
Net Change in Cash
$115M
+242.2% ▲
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $989M | $1.1B | $1.1B | $1.1B | $1.1B |
| Depreciation & Amort. | $191M | $291M | $271M | $275M | $296M |
| Stock-Based Comp. | $73M | $91M | $94M | $65M | $0 |
| Change in Working Capital | -$432M | -$167M | $119M | -$163M | -$286M |
| Other Non-Cash Items | -$30M | $24M | $44M | $36M | $128M |
| Operating Cash Flow | $785M | $1.3B | $1.6B | $1.3B | $1.2B |
| — Investing Activities — | |||||
| Capital Expenditures | -$100M | -$128M | -$148M | -$123M | -$117M |
| Acquisitions (Net) | -$2.7B | -$37M | -$76M | -$324M | -$22M |
| Investment Purchases | $0 | $0 | $0 | -$211M | $0 |
| Investment Sales | $0 | $0 | $0 | $0 | $211M |
| Other Investing | $0 | $0 | -$5M | -$2M | -$2M |
| Investing Cash Flow | -$2.8B | -$164M | -$230M | -$659M | $70M |
| — Financing Activities — | |||||
| Net Debt Issuance | $2.8B | -$865M | -$224M | $235M | -$215M |
| Stock Repurchased | -$1.5B | $0 | -$500M | -$500M | -$653M |
| Dividends Paid | -$235M | -$283M | -$322M | -$332M | -$329M |
| Other Financing | -$188M | $46M | -$53M | -$90M | -$18M |
| Financing Cash Flow | $833M | -$1.1B | -$1.1B | -$687M | -$1.2B |
| Net Change in Cash | -$1.2B | $57M | $274M | -$81M | $115M |
| Cash End of Period | $258M | $315M | $589M | $508M | $619M |
| Free Cash Flow | $685M | $1.2B | $1.5B | $1.2B | $1.1B |