CDW Corp
NASDAQ:CDW
Income Statement
Earnings Waterfall
CDW Corp
Revenue
|
21.4B
USD
|
Cost of Revenue
|
-16.7B
USD
|
Gross Profit
|
4.7B
USD
|
Operating Expenses
|
-3B
USD
|
Operating Income
|
1.7B
USD
|
Other Expenses
|
-576.6m
USD
|
Net Income
|
1.1B
USD
|
Income Statement
CDW Corp
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
10 769
N/A
|
11 009
+2%
|
11 336
+3%
|
11 738
+4%
|
12 075
+3%
|
12 177
+1%
|
12 385
+2%
|
12 620
+2%
|
12 989
+3%
|
13 350
+3%
|
13 701
+3%
|
13 908
+2%
|
13 673
-2%
|
13 812
+1%
|
14 039
+2%
|
14 264
+2%
|
14 833
+4%
|
15 183
+2%
|
15 478
+2%
|
15 918
+3%
|
16 241
+2%
|
16 592
+2%
|
17 036
+3%
|
17 570
+3%
|
18 032
+3%
|
18 464
+2%
|
18 200
-1%
|
18 048
-1%
|
18 468
+2%
|
18 916
+2%
|
19 697
+4%
|
20 240
+3%
|
20 821
+3%
|
21 932
+5%
|
22 932
+5%
|
23 847
+4%
|
23 749
0%
|
22 903
-4%
|
22 383
-2%
|
21 796
-3%
|
21 376
-2%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(9 008)
|
(9 226)
|
(9 507)
|
(9 860)
|
(10 153)
|
(10 225)
|
(10 395)
|
(10 570)
|
(10 873)
|
(11 166)
|
(11 441)
|
(11 601)
|
(11 344)
|
(11 455)
|
(11 652)
|
(11 849)
|
(12 383)
|
(12 683)
|
(12 922)
|
(13 291)
|
(13 534)
|
(13 817)
|
(14 183)
|
(14 614)
|
(14 993)
|
(15 339)
|
(15 102)
|
(14 942)
|
(15 257)
|
(15 667)
|
(16 312)
|
(16 766)
|
(17 252)
|
(18 055)
|
(18 769)
|
(19 366)
|
(19 062)
|
(18 231)
|
(17 698)
|
(17 116)
|
(16 724)
|
|
Gross Profit |
1 760
N/A
|
1 784
+1%
|
1 829
+3%
|
1 878
+3%
|
1 921
+2%
|
1 953
+2%
|
1 990
+2%
|
2 050
+3%
|
2 116
+3%
|
2 184
+3%
|
2 260
+3%
|
2 307
+2%
|
2 328
+1%
|
2 357
+1%
|
2 388
+1%
|
2 416
+1%
|
2 450
+1%
|
2 501
+2%
|
2 555
+2%
|
2 627
+3%
|
2 707
+3%
|
2 775
+3%
|
2 853
+3%
|
2 956
+4%
|
3 040
+3%
|
3 124
+3%
|
3 098
-1%
|
3 107
+0%
|
3 210
+3%
|
3 249
+1%
|
3 384
+4%
|
3 474
+3%
|
3 569
+3%
|
3 877
+9%
|
4 163
+7%
|
4 481
+8%
|
4 687
+5%
|
4 672
0%
|
4 685
+0%
|
4 680
0%
|
4 652
-1%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(1 252)
|
(1 259)
|
(1 270)
|
(1 227)
|
(1 248)
|
(1 264)
|
(1 284)
|
(1 324)
|
(1 374)
|
(1 432)
|
(1 491)
|
(1 505)
|
(1 509)
|
(1 528)
|
(1 551)
|
(1 572)
|
(1 584)
|
(1 601)
|
(1 621)
|
(1 662)
|
(1 719)
|
(1 763)
|
(1 806)
|
(1 864)
|
(1 906)
|
(1 974)
|
(1 964)
|
(1 976)
|
(2 031)
|
(1 992)
|
(2 041)
|
(2 026)
|
(2 150)
|
(2 359)
|
(2 615)
|
(2 853)
|
(2 952)
|
(2 968)
|
(3 005)
|
(2 987)
|
(2 972)
|
|
Selling, General & Administrative |
(1 252)
|
(1 259)
|
(1 270)
|
(1 227)
|
(1 248)
|
(1 264)
|
(1 284)
|
(1 324)
|
(1 374)
|
(1 432)
|
(1 491)
|
(1 505)
|
(1 508)
|
(1 528)
|
(1 551)
|
(1 572)
|
(1 584)
|
(1 601)
|
(1 621)
|
(1 662)
|
(1 720)
|
(1 763)
|
(1 806)
|
(1 864)
|
(1 906)
|
(1 974)
|
(1 964)
|
(1 976)
|
(2 031)
|
(1 992)
|
(2 041)
|
(2 062)
|
(2 150)
|
(2 395)
|
(2 615)
|
(2 853)
|
(2 951)
|
(2 968)
|
(3 005)
|
(2 987)
|
(2 972)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
36
|
0
|
36
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
509
N/A
|
524
+3%
|
559
+7%
|
651
+16%
|
673
+3%
|
689
+2%
|
707
+3%
|
726
+3%
|
742
+2%
|
751
+1%
|
769
+2%
|
802
+4%
|
820
+2%
|
830
+1%
|
837
+1%
|
844
+1%
|
866
+3%
|
900
+4%
|
935
+4%
|
965
+3%
|
987
+2%
|
1 012
+3%
|
1 047
+3%
|
1 093
+4%
|
1 134
+4%
|
1 151
+1%
|
1 134
-1%
|
1 131
0%
|
1 179
+4%
|
1 257
+7%
|
1 343
+7%
|
1 448
+8%
|
1 419
-2%
|
1 519
+7%
|
1 548
+2%
|
1 628
+5%
|
1 735
+7%
|
1 704
-2%
|
1 681
-1%
|
1 693
+1%
|
1 681
-1%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(250)
|
(228)
|
(206)
|
(200)
|
(197)
|
(192)
|
(181)
|
(72)
|
(61)
|
(55)
|
(54)
|
(151)
|
(147)
|
(148)
|
(147)
|
(147)
|
(151)
|
(149)
|
(150)
|
(149)
|
(149)
|
(149)
|
(153)
|
(158)
|
(159)
|
(159)
|
(158)
|
(156)
|
(155)
|
(153)
|
(148)
|
(145)
|
(151)
|
(171)
|
(194)
|
(220)
|
(236)
|
(237)
|
(238)
|
(233)
|
(227)
|
|
Non-Reccuring Items |
(64)
|
(66)
|
(58)
|
(62)
|
(91)
|
(110)
|
(107)
|
(61)
|
(24)
|
0
|
0
|
(2)
|
(2)
|
(60)
|
(60)
|
(57)
|
(57)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
36
|
0
|
36
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
1
|
1
|
1
|
2
|
3
|
7
|
11
|
(8)
|
(9)
|
(13)
|
(16)
|
3
|
2
|
2
|
1
|
2
|
2
|
1
|
2
|
1
|
2
|
4
|
3
|
(14)
|
(25)
|
(22)
|
(21)
|
(31)
|
(22)
|
(25)
|
(26)
|
2
|
(6)
|
(8)
|
(9)
|
(14)
|
(12)
|
(13)
|
(13)
|
(9)
|
(4)
|
|
Pre-Tax Income |
196
N/A
|
232
+19%
|
296
+28%
|
390
+32%
|
388
-1%
|
394
+1%
|
429
+9%
|
585
+37%
|
647
+11%
|
684
+6%
|
699
+2%
|
651
-7%
|
673
+3%
|
624
-7%
|
632
+1%
|
640
+1%
|
661
+3%
|
752
+14%
|
786
+5%
|
818
+4%
|
841
+3%
|
866
+3%
|
898
+4%
|
920
+3%
|
950
+3%
|
970
+2%
|
954
-2%
|
943
-1%
|
1 002
+6%
|
1 079
+8%
|
1 205
+12%
|
1 306
+8%
|
1 298
-1%
|
1 339
+3%
|
1 345
+0%
|
1 394
+4%
|
1 488
+7%
|
1 454
-2%
|
1 430
-2%
|
1 451
+1%
|
1 450
0%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(63)
|
(76)
|
(101)
|
(137)
|
(143)
|
(145)
|
(158)
|
(220)
|
(244)
|
(258)
|
(264)
|
(241)
|
(248)
|
(218)
|
(203)
|
(208)
|
(213)
|
(235)
|
(238)
|
(215)
|
(199)
|
(199)
|
(207)
|
(212)
|
(213)
|
(218)
|
(210)
|
(208)
|
(214)
|
(226)
|
(267)
|
(294)
|
(309)
|
(333)
|
(334)
|
(351)
|
(373)
|
(359)
|
(352)
|
(355)
|
(346)
|
|
Income from Continuing Operations |
133
|
155
|
195
|
253
|
245
|
249
|
270
|
366
|
403
|
426
|
436
|
411
|
425
|
406
|
429
|
432
|
448
|
517
|
549
|
603
|
641
|
667
|
691
|
709
|
737
|
752
|
744
|
736
|
789
|
853
|
938
|
1 012
|
989
|
1 006
|
1 011
|
1 043
|
1 115
|
1 094
|
1 078
|
1 095
|
1 104
|
|
Net Income (Common) |
133
N/A
|
155
+17%
|
195
+26%
|
253
+30%
|
245
-3%
|
249
+2%
|
270
+9%
|
366
+35%
|
403
+10%
|
426
+6%
|
436
+2%
|
411
-6%
|
425
+4%
|
406
-5%
|
429
+6%
|
432
+1%
|
523
+21%
|
592
+13%
|
624
+5%
|
679
+9%
|
643
-5%
|
669
+4%
|
693
+4%
|
711
+3%
|
737
+4%
|
752
+2%
|
744
-1%
|
736
-1%
|
789
+7%
|
853
+8%
|
938
+10%
|
1 012
+8%
|
989
-2%
|
1 006
+2%
|
1 011
+1%
|
1 043
+3%
|
1 115
+7%
|
1 094
-2%
|
1 078
-2%
|
1 095
+2%
|
1 104
+1%
|
|
EPS (Diluted) |
0.74
N/A
|
0.91
+23%
|
1.13
+24%
|
1.46
+29%
|
1.42
-3%
|
1.44
+1%
|
1.57
+9%
|
2.13
+36%
|
2.35
+10%
|
2.52
+7%
|
2.61
+4%
|
2.48
-5%
|
2.56
+3%
|
2.49
-3%
|
2.69
+8%
|
2.76
+3%
|
3.31
+20%
|
3.82
+15%
|
4.05
+6%
|
4.41
+9%
|
4.17
-5%
|
4.48
+7%
|
4.66
+4%
|
4.82
+3%
|
4.99
+4%
|
5.18
+4%
|
5.15
-1%
|
5.07
-2%
|
5.45
+7%
|
5.96
+9%
|
6.62
+11%
|
7.25
+10%
|
7.01
-3%
|
7.36
+5%
|
7.39
+0%
|
7.6
+3%
|
8.14
+7%
|
7.98
-2%
|
7.91
-1%
|
8.06
+2%
|
8.1
+0%
|