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Dec 31, 2025
CDW Q4 2025 Earnings Report
CDW reported strong fourth quarter and full year 2025 earnings, with net sales increasing by 6.3% in Q4 and 6.8% for the full year.
Key Takeaways
CDW concluded a dynamic year with a strong fourth quarter, driven by increased customer spending across most segments, particularly in software, notebooks/mobile devices, and services. The company achieved growth in net sales, gross profit, and net income, while also generating strong cash flow.
Net sales for Q4 2025 increased by 6.3% to $5,511.0 million, compared to $5,186.0 million in Q4 2024.
Diluted EPS for Q4 2025 rose by 8.8% to $2.14, up from $1.97 in Q4 2024.
Non-GAAP diluted EPS for Q4 2025 increased by 3.8% to $2.57, compared to $2.48 in Q4 2024.
Gross profit for Q4 2025 grew by 8.6% to $1,254.4 million, with gross profit margin expanding to 22.8%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For 2026, CDW aims to exceed the US IT addressable market growth by 200 to 300 basis points, focusing on meeting evolving customer needs and strengthening partnerships with technology brands.
Positive Outlook
- Targeting to exceed US IT addressable market growth by 200 to 300 basis points in 2026.
- Maintaining focus on meeting the evolving needs of over 250,000 customers globally.
- Continuing to be the partner of choice for more than 1,000 leading and emerging technology brands.
- Strengthening value proposition as customers seek mission-critical IT and operational needs.
- Providing guidance on customers' AI journeys, indicating readiness for emerging technologies.
Challenges Ahead
- Customers continued to experience uncertain business conditions.
- Economic and geopolitical uncertainty persists.
- Potential for decreases, delays, or changes in spending on technology products and services.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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