CDW (CDW) FY2022 results: revenue $23.7 billion, up 14.1% on the year
CDW Corp. (CDW) reported revenue of $23.7 billion for fiscal 2022, the year ended 31 December 2022, up 14.1% on the year before. Net income was $1.1 billion, up 12.7%, and diluted earnings per share $8.13. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.
Revenue
$23.7 billion
+14.1% on the year
FY2015FY2022
Operating margin
7.3%
6.8% a year earlier
FY2015FY2022
Net income
$1.1 billion
+12.7% on the year
FY2015FY2022
Diluted EPS
$8.13
+15.5% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,336
785
1,314
+70.3%
Capital expenditure
128
100
158
+27.8%
Free cash flow
1,208
685
1,156
+76.5%
Free cash flow margin
5.1%
3.3%
6.3%
Cash from investing
-164
-2,770
-201
Cash from financing
-1,102
833
139
Depreciation and amortisation
291
191
426
+52.0%
Share-based compensation
91.1
72.6
42.5
+25.5%
Buybacks
0.0
1,500
341
Dividends paid
283
235
220
+20.4%
Dividend per share
$2.09
$1.70
$1.54
+22.9%
Diluted shares, weighted
137m
140m
145m
-2.5%
Shares outstanding at period end
136m
135m
142m
+0.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
1,603
706
1,297
+127.2%
Debt
5,959
6,904
3,954
-13.7%
Operating lease liabilities
175
184
169
-4.9%
Other liabilities
5,394
5,405
3,924
-0.2%
Total liabilities and equity
13,132
13,199
9,345
-0.5%
Fixed assets
189
196
176
-3.6%
Goodwill
4,343
4,383
2,596
-0.9%
Intangible assets
1,491
1,628
445
-8.4%
Cash and equivalents
315
258
1,410
+22.1%
Receivables
4,461
4,499
3,213
-0.8%
Inventory
800
928
760
-13.7%
Other assets
1,533
1,308
745
+17.2%
Total assets
13,132
13,199
9,345
-0.5%
10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.