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 19,226 - -
Change - -13.01% 25.95% -23.84% -23.55% 8.43% - -
Enterprise Value (EV) 1 34,394 29,786 35,508 28,533 22,743 24,435 24,231 23,853
Change - -13.4% 19.21% -19.64% -20.29% 7.44% -0.84% -1.56%
P/E 29.1x 22x 28.1x 21.8x 16.9x 17.7x 15.3x 14.2x
PBR 39.1x 15.3x 14.9x 9.85x 6.76x 7.72x 6.58x 5.45x
PEG - 1.4x -76.15x -13.58x 12.24x 2.32x 1x 1.83x
Capitalization / Revenue 1.33x 1.02x 1.42x 1.1x 0.79x 0.79x 0.76x 0.74x
EV / Revenue 1.65x 1.25x 1.66x 1.36x 1.01x 1.01x 0.96x 0.92x
EV / EBITDA 19.7x 13.7x 16.5x 12.8x 10.7x 11.1x 10.3x 9.62x
EV / EBIT 20.9x 14.5x 17.4x 14.7x 11.4x 11.6x 10.8x 10.2x
EV / FCF 50.2x 20.2x 24.5x 24.7x 20.9x 22.4x 19.8x 16.5x
FCF Yield 1.99% 4.95% 4.08% 4.05% 4.78% 4.46% 5.06% 6.07%
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% 1.66% 1.74% 1.79%
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 2 204.78 178.58 227.32 174.04 136.20 153.79 153.79 153.79
Nbr of stocks (in thousands) 135,723 135,391 133,960 133,264 130,194 125,017 - -
Announcement Date 09/02/22 08/02/23 07/02/24 05/02/25 04/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-44.01x45.83x1339.66x - 45.6B
17.69x1.01x11.08x1.66% 19.23B
27.83x0.96x20.29x0.38% 14B
-1.69x2.8x11.5x-.--% 7.01B
38.07x4.35x25.92x1.8% 3.24B
27.78x - - 0.31% 2.52B
Average 10.94x 10.99x 281.69x 0.83% 15.27B
Weighted average by Cap. -11.96x 24.21x 693.16x 0.95%

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

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