CDW
CDW Corporation

CDW CorporationCDW

Technology · Information Technology Services
157.00USD
-0.88%
Nov 08, 2026
CDW overview ready
Multi-vendor IT solutions integrator enabling enterprise AI and infrastructure modernization
CDW is a broad IT solutions provider and technology integrator rather than an AI hardware manufacturer or proprietary cybersecurity vendor.
Primary theme is leading
IT Services & Consulting is leading (+24.8pp vs SPY over 21 sessions; 12 of 12 members ahead of SPY).
Price action is under distribution
Longer-term context reads early recovery, with a near-term setup of constructive pullback.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on vendor relationships and supply chain stability.
Market Nov 6Filing Sep 30Price action Nov 7Research Nov 1

Conviction Level

PriceAction9.1BusinessPerformance7.0BusinessQuality8.0Valuation5.7ThemeMomentum9.0Improving — Revenue growth has accelerated across 4 consecutive quarters, rising from +6.3% to +18% year over year. Diluted EPS is up 11% year over year at $2.46. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
+24.8pp
Theme return
+19.8%
Beating SPY
12 of 12
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price action is under distribution
Longer-term context reads early recovery, with a near-term setup of constructive pullback.
EntryConstructive

Structure is constructive on both timeframes without excessive extension — a reasonable entry location.

Key Financials

Market Cap
$19.6B
Avg Volume (60D)
1.6M
60 sessions
Revenue Growth YoY
+6.8%
FY2025 vs FY2024
Gross Margin
+21.0%
Trailing twelve months
Operating Margin
+7.0%
Trailing twelve months
Free Cash Flow Yield
+4.8%
Distance from 200DMA
+18.0%
Next Earnings
2027-02-03
P/E
17.8x
EV / EBITDA
12.4x
EV / Sales
1.0x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Improving

Revenue growth has accelerated across 4 consecutive quarters, rising from +6.3% to +18% year over year. Diluted EPS is up 11% year over year at $2.46.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+18%
$6.75B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +6.3%
  2. +9.2%
  3. +10%
  4. +18%
Earnings growthGrowing
+11%
Diluted EPS $2.46 vs $2.21 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +8.6%
  2. +7.7%
  3. +4.9%
  4. +11%
Operating marginStable
7.3%
-0.5 pp YoY · gross margin 20.5% (-1.4 pp)

Business Quality

8.0 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say fair; peers is the dissenting view.
CDW Corporation has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
CDW is a broad IT solutions provider and technology integrator rather than an AI hardware manufacturer or proprietary cybersecurity vendor. It combines multi-vendor hardware, software, cloud, security, configuration, deployment, managed, and lifecycle services for commercial, government, education, UK, and Canadian customers.
Opportunity
Moderate opportunity
Enterprise and public-sector spending on designing, procuring, deploying, securing, managing, and refreshing the hybrid infrastructure needed to move AI-enabled workloads from pilots into production.
Key risk
Dependence on vendor relationships and supply chain stability.

Economic classification

Loading the economic classification…

Business & Markets

Technology · Information Technology Services
What they do

CDW Corporation is an IT solutions provider operating in the US, UK, and Canada, delivering hardware, software, and integrated IT services across commercial, government, and education sectors.

How it earns

Primarily transactional sales of hardware and software products combined with recurring revenue from integrated IT services and managed solutions.

Products & services
Notebooks and mobile devices
Tablets
Network communications hardware
Collaboration hardware
Data storage and servers
Desktop computers
Integrated IT solutions including cloud, security, and hybrid infrastructure services
Customers & end markets
Commercial enterprises
Government agencies
Educational institutions
Market position

Leading multi-vendor technology solutions integrator and channel partner in IT infrastructure and services.

Demand drivers
Medium cyclicality

Demand is influenced by IT budget cycles and economic conditions affecting enterprise and government spending.