Company Valuation: CDW Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 27,793 24,178 30,452 23,193 17,732 16,022 - -
Change - -13.01% 25.95% -23.84% -23.55% -9.64% - -
Enterprise Value (EV) 1 34,394 29,786 35,508 28,533 22,743 21,231 21,027 20,649
Change - -13.4% 19.21% -19.64% -20.29% -6.65% -0.96% -1.8%
P/E 29.1x 22x 28.1x 21.8x 16.9x 14.7x 12.7x 11.8x
PBR 39.1x 15.3x 14.9x 9.85x 6.76x 6.43x 5.49x 4.54x
PEG - 1.4x -76.15x -13.58x 12.24x 1.93x 0.8x 1.52x
Capitalization / Revenue 1.33x 1.02x 1.42x 1.1x 0.79x 0.66x 0.64x 0.62x
EV / Revenue 1.65x 1.25x 1.66x 1.36x 1.01x 0.88x 0.84x 0.8x
EV / EBITDA 19.7x 13.7x 16.5x 12.8x 10.7x 9.62x 8.92x 8.33x
EV / EBIT 20.9x 14.5x 17.4x 14.7x 11.4x 10.1x 9.39x 8.85x
EV / FCF 50.2x 20.2x 24.5x 24.7x 20.9x 19.5x 17.1x 14.3x
FCF Yield 1.99% 4.95% 4.08% 4.05% 4.78% 5.14% 5.83% 7.01%
Dividend per Share 2 1.8 2.09 2.39 2.485 2.505 2.55 2.683 2.749
Rate of return 0.88% 1.17% 1.05% 1.43% 1.84% 1.99% 2.09% 2.14%
EPS 2 7.04 8.13 8.1 7.97 8.08 8.696 10.07 10.85
Distribution rate 25.6% 25.7% 29.5% 31.2% 31% 29.3% 26.6% 25.3%
Net sales 1 20,821 23,749 21,376 20,999 22,424 24,243 25,134 25,842
EBITDA 1 1,742 2,173 2,155 2,222 2,122 2,206 2,357 2,479
EBIT 1 1,645 2,050 2,039 1,947 1,997 2,110 2,239 2,332
Net income 1 988.6 1,114 1,104 1,078 1,067 1,109 1,258 1,314
Net Debt 1 6,600 5,608 5,056 5,339 5,011 5,209 5,005 4,627
Reference price 2 204.78 178.58 227.32 174.04 136.20 128.16 128.16 128.16
Nbr of stocks (in thousands) 135,723 135,391 133,960 133,264 130,194 125,017 - -
Announcement Date 2/9/22 2/8/23 2/7/24 2/5/25 2/4/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-44.91x42.02x1227.89x - 42.2B
14.74x0.88x9.62x1.99% 16.02B
26.29x0.92x19.37x0.4% 13.23B
-1.52x2.44x10x-.--% 6.28B
26.63x - - 0.33% 2.41B
Average 4.25x 11.56x 316.72x 0.68% 16.03B
Weighted average by Cap. -15.68x 23.34x 672.73x 1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield