CDW Corp. stock holds steady as 2025 revenue and earnings frame the story

CDW Corp. (ISIN US1258961002) stock is anchored by 2025 results that showed $21.96 billion in revenue and adjusted diluted earnings per share of $9.93, while the company also reported $1.29 billion in operating cash flow for the year. Those figures define the investment case even without a fresh company-specific catalyst in hand.

2025 revenue and earnings

For full-year 2025, CDW reported net sales of $21.96 billion, down 1.2% from 2024, which gives a clear comparison point for the business trend. Adjusted diluted EPS of $9.93 for 2025 sits alongside that revenue base and shows how profitability held up through the period.

The company also reported GAAP diluted EPS of $9.89 for 2025, a close read-through to adjusted earnings and a sign that reported and adjusted results were broadly aligned. Operating cash flow of $1.29 billion for 2025 adds a third dated metric that matters for valuation and capital allocation.

Cash flow at $1.29 billion

Free cash flow was $1.04 billion in 2025, according to CDW, after capital expenditures of $247.7 million. That leaves a cash conversion profile that is easier to compare against earnings than against revenue alone.

Gross profit for 2025 reached $4.02 billion, while gross margin was 18.3%, both of which help frame how much pricing and mix supported the year. The comparison with 2024 revenue decline of 1.2% is the key quantified reference point in the set.

Product mix matters

CDW describes itself as a technology solutions provider, and its mix across hardware, software and services is the central reason those 2025 margin and cash numbers matter. Hardware-heavy periods usually pressure gross margin more than software and services, so the 18.3% gross margin is the number to watch against future sales composition.

That product mix also explains why a revenue base of $21.96 billion can still produce $1.04 billion of free cash flow. For investors reading the latest annual context, the operating question is less about scale alone and more about how efficiently that scale converts into cash.

Stock context in 2026

CDW shares last traded at $174.19 on 25 July 2026, giving the stock a dated market anchor for the current setup. The same quote places the share price in the context of the 2025 operating year rather than a single-day move narrative.

On the market-cap side, CDW was valued at $22.71 billion as of 25 July 2026, which puts the company in large-cap territory and helps explain why each small shift in margin or cash conversion still matters. The stock does not need a dramatic headline to remain relevant when the underlying numbers are this large and this recent.

CDW stock and 2025 base

CDW Corp. closed the latest annual frame with revenue of $21.96 billion, gross profit of $4.02 billion and adjusted diluted EPS of $9.93 for 2025, while shares were at $174.19 on 25 July 2026. That combination gives the stock a clear earnings base, a dated market price and a concrete cash profile for the next read-through.