Forensic Analysis · Retail / Consumer Discretionary · as of Aug 10, 2026

Cdw Corp (CDW)

A forensic read on Cdw Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Grey Zone

Financial health

2.3

Distress distance

Clean

Earnings quality

Forensic signals

16.4

P / E (ttm)

40.9%

ROE

$17.1B

Market cap

1.78%

Dividend yield

6.8%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Cdw Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 2.3, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

13.5%

FY2025

Return on invested capital. Return on invested capital is 13.5% in the latest fiscal year and slipping from 16% — a modest positive spread over its ~9% cost of capital — growth adds value, though not dramatically.

90% of FCF

FY2025

Shareholder returns. Returned $982M to shareholders (buybacks + dividends) in FY2025 — 90% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has been CLIMBING toward the limit — 23% of free cash flow a few years back — not just sitting there. Counting the $84M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 98%.

Key fundamentals

Latest Revenue$22.42B

Revenue Growth YoY+6.8%

Revenue CAGR (3yr)-1.9%

Net Margin4.8%

Free Cash Flow$1.09B

Return on Equity40.9%

Debt / Equity2.17x

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Data from SEC EDGAR public filings · metrics as of Aug 10, 2026. Forensic signals flag probability, not certainty.