technology solutions to business, government, education and healthcare customers for 40 years
CAGR (2015 - 2024)
Net Sales: 5%
$2.5
$2.3
$2.7
$3.2
$3.0
$3.6
$4.6
$4.7
$4.7
$2.1
$16.2
Gross Profit: 9% $18.0
$14.8
$20.8 $23.7 $21.4 $21.0
$18.5
Coworkers: ~11,500 US and ~3,600 international; over 2/3 are customer-facing(1)
Full stack of technology solutions and services across the entire IT lifecycle
Offers 100,000+ products and solutions from 1,000+ brands to more than 250,000
$13.0 $13.7
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
OPERATING INCOME ($M)(2)(3)
CAGR (2015 - 2024)
customers in the US, UK and Canada
"Sweet spot" is customers with <5,000
employees
US GAAP Operating Income: 9%
$2,051 $2,039 $1,947
Attractive business model with demonstrated track record of profitable growth
As of March 31, 2025.
Non-GAAP Operating Income: 8%
$1,645 $1,735
$1,405 $1,419
$1,179
$1,681
$1,651
$961
$1,368
$1,134
$742
$1,048
$820
$1,107
$867
$1,217
$987
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
2015 and prior years have not been adjusted to reflect the adoption of Topic 606 - FASB's accounting standards update on Revenue from Contracts with Customers.
Refer to Non-GAAP Reconciliations Deck on investor.cdw.com for reconciliation of non-GAAP measures for additional detail. 3
Strategy Drives Share Gain In Large and Growing Market
THREE-PART STRATEGY FOR GROWTH
1
Capture Share and Acquire New
Customers
2
Enhance Capabilities in High-Growth
Solutions Areas
3
Expand Services Capabilities
TOTAL ADDRESSABLE MARKET
Total US, UK and
Canada IT Market:
~$1,300B(1)
CDW Current
Addressable
Market:
~$440B(1)
The majority of the addressable market is highly fragmented across thousands of value-added resellers. CDW is an IT market leader, yet it holds a low share of its approximately $440 billion(1)addressable market.
CDW internal estimates as of December 2024. 4
Balanced Portfolio Offers Multiple Growth Drivers
Diverse Customer Channels and Geography Create Multiple Drivers of Growth and Diversification Against
Macro and Exogenous Headwinds
2024 NET SALES & Y/Y GROWTH %
($21.0B, -1.8%)
OTHER
(UK, Canada)
NET SALES GROWTH
Great Recession 11% 3%
'08-'09 Change
0%
-4%
TOTAL
CHANGE
(11)%
HEALTHCARE
EDUCATION
(K-12,
Higher Ed)
$2.5B
+7.1%
$3.2B
-4.0%
$2.5B
-2.9%
$2.5B
-6.8%
$1.5B
-2.1%
CORPORATE
(>250 employees)
$8.8B
-1.4%
(Other includes ATS & Canada)
Great Recession Recovery
'09-'11 CAGR
(Other includes ATS & Canada)
IPO - 2019
'13-'19 CAGR(1)
(Other includes Canada & CDW UK)
-22%-18%
18%
43%
30% 29%
19% 14%
7%
3%
29%
+16%
7% 8% 12% 9%
5%
+9%
GOVERNMENT
(Federal, State & Local)
SMALL BUSINESS
(≤250 employees)
COVID-19
'19-'20 Change
(Other includes Canada & CDW UK)
-9% -7%
-12% -3%
+2%
2013 Net sales adjusted to reflect a comparable 2019 Net sales segmentation 5
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CDW Corporation published this content on May 07, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2025 at 12:29 UTC.
CDW Corporation is a leading American distributor of multi-brand computer products. The activity is organized around 5 families of products:
- computer hardware: personal assistants, micro-computers, servers, etc.;
- software;
- Internet and communication products: primarily modems and access equipment;
- video products;
- data storage products.
Net sales break down by market between large companies (42.1%), public enterprises (38.8%), small companies (7.3%) and other (11.8%).
The United States account for 87.9% of net sales.
