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 18,464 - -
Change - -13.01% 25.95% -23.84% -23.55% 4.12% - -
Enterprise Value (EV) 1 34,394 29,786 35,508 28,533 22,743 23,673 23,468 23,090
Change - -13.4% 19.21% -19.64% -20.29% 4.09% -0.86% -1.61%
P/E 29.1x 22x 28.1x 21.8x 16.9x 17x 14.7x 13.6x
PBR 39.1x 15.3x 14.9x 9.85x 6.76x 7.41x 6.32x 5.23x
PEG - 1.4x -76.15x -13.58x 12.24x 2.23x 0.9x 1.76x
Capitalization / Revenue 1.33x 1.02x 1.42x 1.1x 0.79x 0.76x 0.73x 0.71x
EV / Revenue 1.65x 1.25x 1.66x 1.36x 1.01x 0.98x 0.93x 0.89x
EV / EBITDA 19.7x 13.7x 16.5x 12.8x 10.7x 10.7x 9.96x 9.31x
EV / EBIT 20.9x 14.5x 17.4x 14.7x 11.4x 11.2x 10.5x 9.9x
EV / FCF 50.2x 20.2x 24.5x 24.7x 20.9x 21.7x 19.1x 15.9x
FCF Yield 1.99% 4.95% 4.08% 4.05% 4.78% 4.61% 5.23% 6.27%
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% 1.73% 1.82% 1.86%
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 2 204.78 178.58 227.32 174.04 136.20 147.69 147.69 147.69
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.($)
-41.06x42.39x1239.08x - 42.54B
16.98x0.98x10.73x1.73% 18.46B
37.58x1.05x24.05x0.31% 15.26B
-1.76x2.94x12.15x-.--% 7.29B
41.67x4.78x28.44x1.64% 3.54B
29.35x - - 0.28% 2.65B
Average 13.80x 10.43x 262.89x 0.79% 14.96B
Weighted average by Cap. -7.21x 21.53x 613.86x 0.92%

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