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 19,050 - -
Change - -13.01% 25.95% -23.84% -23.55% 7.43% - -
Enterprise Value (EV) 1 34,394 29,786 35,508 28,533 22,743 24,259 24,055 23,677
Change - -13.4% 19.21% -19.64% -20.29% 6.66% -0.84% -1.57%
P/E 29.1x 22x 28.1x 21.8x 16.9x 17.5x 15.1x 14x
PBR 39.1x 15.3x 14.9x 9.85x 6.76x 7.65x 6.52x 5.4x
PEG - 1.4x -76.15x -13.58x 12.24x 2.3x 1x 1.81x
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 1x 0.96x 0.92x
EV / EBITDA 19.7x 13.7x 16.5x 12.8x 10.7x 11x 10.2x 9.55x
EV / EBIT 20.9x 14.5x 17.4x 14.7x 11.4x 11.5x 10.7x 10.2x
EV / FCF 50.2x 20.2x 24.5x 24.7x 20.9x 22.2x 19.6x 16.4x
FCF Yield 1.99% 4.95% 4.08% 4.05% 4.78% 4.5% 5.1% 6.12%
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% 1.67% 1.76% 1.8%
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 2 204.78 178.58 227.32 174.04 136.20 152.38 152.38 152.38
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
-48.17x50.68x1481.47x - 49.9B
17.52x1x11x1.67% 19.05B
29.89x1.02x21.51x0.35% 15.03B
-1.76x2.94x12.04x-.--% 7.28B
39.96x4.58x27.24x1.71% 3.44B
Average 7.49x 12.04x 310.65x 0.93% 18.94B
Weighted average by Cap. -15.80x 27.46x 788.22x 0.96%

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