CDW (CDW) FY2024 results: revenue $21.0 billion, down 1.8% on the year
CDW Corp. (CDW) reported revenue of $21.0 billion for fiscal 2024, the year ended 31 December 2024, down 1.8% on the year before. Net income was $1.1 billion, down 2.4%, and diluted earnings per share $7.97. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$21.0 billion
-1.8% on the year
FY2017FY2024
Operating margin
7.9%
7.9% a year earlier
FY2017FY2024
Net income
$1.1 billion
-2.4% on the year
FY2017FY2024
Diluted EPS
$7.97
-1.6% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,277
1,599
1,336
-20.1%
Capital expenditure
123
148
128
-17.3%
Free cash flow
1,155
1,450
1,208
-20.4%
Free cash flow margin
5.5%
6.8%
5.1%
Cash from investing
-659
-230
-164
Cash from financing
-687
-1,099
-1,102
Depreciation and amortisation
275
271
291
+1.7%
Share-based compensation
64.7
93.7
91.1
-30.9%
Buybacks
500
500
0.0
0.0%
Dividends paid
332
322
283
+3.3%
Dividend per share
$2.48
$2.39
$2.09
+4.0%
Diluted shares, weighted
135m
136m
137m
-0.8%
Shares outstanding at period end
133m
134m
136m
-1.1%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
2,353
2,042
1,603
+15.2%
Debt
5,876
5,673
5,959
+3.6%
Operating lease liabilities
149
164
175
-9.1%
Other liabilities
6,301
5,405
5,394
+16.6%
Total liabilities and equity
14,678
13,285
13,132
+10.5%
Fixed assets
192
196
189
-1.8%
Goodwill
4,620
4,413
4,343
+4.7%
Intangible assets
1,357
1,370
1,491
-1.0%
Investments
214
0.0
n/a
Cash and equivalents
504
589
315
-14.5%
Receivables
5,136
4,568
4,461
+12.4%
Inventory
605
668
800
-9.4%
Other assets
2,051
1,482
1,533
+38.4%
Total assets
14,678
13,285
13,132
+10.5%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.