CDW
Cdw Corp Consumer Discretionary Retail-Catalog & Mail-Order Houses S&P 500Russell 3000
$153.79Close
$19.9BMarket cap
$98.25 – $165.2052-week range
Nov 4, 2026Next report · before the open
Highlights
Cautions
- Trend not confirmed 7 of 8 conditions · RS under 70
- Results soon Nov 4, 2026, in 3 days
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
7%
1wk
down 6.9%
price change
1mo
up 20.0%
price change
12-month return
0%
market up 11% ·
its own down 11%
F-score
5 / 9
Mixed
Altman Z″
1.16
Moderate risk
P/E
18.7×
price / earnings
PEG
14.54
P/E / EPS growth
P/B
7.6×
price / book
Earnings yield
up 6.9%
EBIT / enterprise value
Cheaper than
58%
of the market · around average
Revenue growth
up 7%
year on year
EPS growth
up 5%
latest quarter · -3 pts
Sales growth
up 10%
latest quarter · +1 pts
ROE
up 43%
return on equity
Free cash margin
up 5%
$1.1B FCF
D/E
1.77
long-term debt / equity
Net debt / EBITDA
2.1×
Interest cover
—EBIT / interest
Piotroski tests
- profitability slipped from last year
- short-term liquidity weakened
- gross margin narrowed
- assets working less efficiently
- profitable on its assets
- generating cash from operations
- profits backed by cash
- reduced long-term debt
- no new shares issued
Repair signals
- Long-term debt down 18% ($5.6B → $4.6B)
- Revenue reaccelerating (-2% then +7%)
Trade setup
ATR%
4.1%
$6.27 a day · 2×ATR $141.24
RS
61 / 99
vs the universe
Trend
7 / 8
RS under 70
Relative volume
1.6×
vs 50-day average
Up/down volume
1.06
50 sessions
Implied move
13.4%
by Nov 20, 2026 · report Nov 4, 2026
Trend template · 7 of 8
- RS rank 70 or higher: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- No restatement or impairment
- Equity positive
- Interest covered
- No material dilution
- Profits tracking cash
- Margins and revenue not shrinking
Last reported
Aug 5, 2026
Results reaction
Aug 5, 2026-7% vs market2 sessions after results
Options
$2.3M62.9% IV · activity
Financials
- Gross 22%
- Net 5%
- Free cash 5%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $18.5B | $20.8B | $23.7B | $21.4B | $21.0B | $22.4B |
| Gross margin | 17% | 17% | 20% | 22% | 22% | 22% |
| Operating income | $1.2B | $1.4B | $1.7B | $1.7B | $1.7B | $1.7B |
| Net income | $788.5M | $988.6M | $1.1B | $1.1B | $1.1B | $1.1B |
| Net margin | 4% | 5% | 5% | 5% | 5% | 5% |
| Earnings per share | $5.45 | $7.04 | $8.14 | $8.10 | $7.97 | $8.07 |
| Free cash flow | $1.2B | $684.6M | $1.2B | $1.5B | $1.2B | $1.1B |
| Free cash margin | 6% | 3% | 5% | 7% | 5% | 5% |
| Cash | $1.4B | $258.1M | $315.2M | $588.7M | $503.5M | $618.7M |
| Long-term debt | $3.9B | $6.8B | $5.9B | $5.0B | $5.6B | $4.6B |
| Shareholders' equity | $1.3B | $705.7M | $1.6B | $2.0B | $2.4B | $2.6B |
| Shares outstanding | 141.90m | 134.80m | 135.50m | 134.10m | 132.60m | 129.40m |
Next report
Nov 4, 2026 · before the open
Expected move The move, either way, the option market prices in through the next scheduled report: the at-the-money straddle for the first expiry that contains it, over the price. It includes the days around the report, so it slightly overstates the report alone. Methodology
±13.4%
$133 – $174 by Nov 20, 2026
Usual move The median, over the company's last four reports, of how far the stock moved either way from the close before the filing to the close of the session after it. Methodology
±9.7%
last 4: -7.8% · -19.4% · +11.6% · -5.5%
Expected against usual The move the options price through this report over the move the last four reports delivered. Above 1 the event is priced bigger than the company's own record; below 1, smaller. A price, not a forecast: it says what protection through the report costs, not which way the stock will go. Methodology
Bigger than usual
1.4× the usual move
What options price now
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- Bigger 62.9% priced · 41.3% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- Choppier
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs less
Positioning
- Premium traded
- $2.3M calls $2.2M · puts $121,380 · latest session
- 0.05× -0.05 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls +441 · puts +1.47k past week
For options traders: ATM IV 62.9% (+9.5% 1w) · 1m ÷ 3m IV 1.24 · 25Δ skew 4.9 pts · Net GEX $825,712
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Aug 5, 2026 | Quarterly ↗ | Jun 30, 2026 | 36d |
| May 6, 2026 | Quarterly ↗ | Mar 31, 2026 | 36d |
| Feb 20, 2026 | Annual ↗ | Dec 31, 2025 | 51d |
| Nov 4, 2025 | Quarterly ↗ | Sep 30, 2025 | 35d |
| Aug 6, 2025 | Quarterly ↗ | Jun 30, 2025 | 37d |
| May 7, 2025 | Quarterly ↗ | Mar 31, 2025 | 37d |
| Feb 21, 2025 | Annual ↗ | Dec 31, 2024 | 52d |
| Oct 30, 2024 | Quarterly ↗ | Sep 30, 2024 | 30d |
| Jul 31, 2024 | Quarterly ↗ | Jun 30, 2024 | 31d |
| May 1, 2024 | Quarterly ↗ | Mar 31, 2024 | 31d |
| Feb 26, 2024 | Annual ↗ | Dec 31, 2023 | 57d |
| Nov 1, 2023 | Quarterly ↗ | Sep 30, 2023 | 32d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 19, 2026 | Director or officer change · Regulation FD ↗ |
| Sep 21, 2026 | Material agreement · New obligation ↗ |
| Sep 15, 2026 | Material agreement ↗ |
| Aug 5, 2026 | Director or officer change · Regulation FD ↗ |
| Aug 5, 2026 | Results · Other events ↗ |
| May 26, 2026 | Charter or bylaws · Shareholder vote ↗ |
| May 13, 2026 | Regulation FD · Other events ↗ |
| May 6, 2026 | Results · Other events ↗ |
| May 1, 2026 | Regulation FD ↗ |
| Mar 27, 2026 | Director or officer change ↗ |
| Feb 4, 2026 | Results · Other events ↗ |
| Dec 23, 2025 | Material agreement · Agreement ended · New obligation · Director or officer change ↗ |