CDW (CDW) FY2021 results: revenue $20.8 billion, up 12.7% on the year
CDW Corp. (CDW) reported revenue of $20.8 billion for fiscal 2021, the year ended 31 December 2021, up 12.7% on the year before. Net income was $989 million, up 25.4%, and diluted earnings per share $7.04. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.
Revenue
$20.8 billion
+12.7% on the year
FY2014FY2021
Operating margin
6.8%
6.4% a year earlier
FY2014FY2021
Net income
$989 million
+25.4% on the year
FY2014FY2021
Diluted EPS
$7.04
+29.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
785
1,314
1,027
-40.3%
Capital expenditure
100
158
236
-36.7%
Free cash flow
685
1,156
791
-40.8%
Free cash flow margin
3.3%
6.3%
4.4%
Cash from investing
-2,770
-201
-331
Cash from financing
833
139
-750
+500.0%
Depreciation and amortisation
191
426
267
-55.1%
Share-based compensation
72.6
42.5
48.5
+70.8%
Buybacks
1,500
341
657
+340.5%
Dividends paid
235
220
183
+6.9%
Dividend per share
$1.70
$1.54
$1.26
+10.4%
Diluted shares, weighted
140m
145m
148m
-3.0%
Shares outstanding at period end
135m
142m
143m
-5.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
706
1,297
960
-45.6%
Debt
6,904
3,954
3,338
+74.6%
Operating lease liabilities
184
169
131
+9.0%
Other liabilities
5,405
3,924
3,570
+37.7%
Total liabilities and equity
13,199
9,345
7,999
+41.3%
Fixed assets
196
176
363
+11.6%
Goodwill
4,383
2,596
2,553
+68.8%
Intangible assets
1,628
445
594
+265.8%
Cash and equivalents
258
1,410
154
-81.7%
Receivables
4,499
3,213
3,002
+40.1%
Inventory
928
760
611
+22.1%
Other assets
1,308
745
722
+75.4%
Total assets
13,199
9,345
7,999
+41.3%
10-K for the year ended 31 December 2021, filed 28 February 2022: the filing.