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CDW
CDW CorporationNASDAQInformation TechnologyInformation Technology ServicesSnapshot 2026-06-12
Intact
$132.19+2.37%
Close 2026-06-12 · 1-day change
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
The bottom line
CDW screens as a mixed setup, with recent financial performance being neutral and management's track record volatile. Earnings quality is fragile, indicating that reported profits may not be well-supported by cash flow. The sector backdrop is a tailwind, and risk is elevated, while the company maintains a capital-friendly stance. Peer multiples imply a price about 50% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk, as it trades below peer multiples but has weak recent financials and fragile earnings quality. Key factors to watch include guidance changes and the performance of sector bellwethers. This read is provisional.
as of 2026-06-12
Quick facts
- Exchange
- NASDAQ
- Sector
- Information Technology
- Industry
- Information Technology Services
- Market cap
- $16.50B
- Employees
- —
- IPO date
- 2010-11-15
- Next earnings
- 2026-08-05
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 7 valuation methods, at three horizons. Current price $132.19. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryinexpensive
$255.99consensus
Range $184.90 – $318.98
vs price: -48% below
Method agreement — · 7 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearinexpensive
$229.14consensus
Range $228.13 – $251.20
vs price: -42% below
Method agreement — · 5 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearinexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Cheap vs peerslow confidence
At $132 CDW trades at 13× p/e, below its 31× p/e peer median. Our $287 fair value sits above the price; low confidence. Analysts: $123–$150. Not investment advice.
Multiple (P/E)
13.0x
peer 30.9x · own history 19.1x
Premium
0.4x peer
0.7x its own history
Growth the price needs
-54%
our forecast 3%
Our fair value
$287.41
range $189.35 – $325.02
Analyst range(a guide on our number, not a target)Our number is above the analyst range
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
inexpensivecheap — value-trap risk12-month view
What's priced inJustified
The price implies about 54% below a flat-multiple fair value, below our forecast of about 3%. This describes what's priced in, not a forecast of the move.
Low fragilityrisk posture, not a price call
Only weak execution quality, a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Historical context
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
neutralOperating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated neutral grew net income 54% of the time over the next year (vs 68% for the rest of the cohort, n=3704).
64th pctl · Information Technology
Earnings quality
fragileOver the trailing year it converted 1.11x of net income into operating cash flow. Historically, Information Technology names rated fragile grew net income 46% of the time over the next year (vs 65% for the rest of the cohort, n=2129).
23rd pctl · Information Technology
Macro sensitivity
Most sensitive to the broad stock market.
- the broad stock market: This stock moves with the broad market (high beta).
Not enough signal to read sensitivity to the US dollar, long-term interest rates, Fed net liquidity, real (inflation-adjusted) rates.
Management & capital allocation
volatileEarnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
Strongly bullish10 analysts, 64% Buyfor period ending 2026-06-30
Why this setup
Consensus revisions
EPS estimate $2.75 → $2.77 (+0.9% / 30d). 5 raised, 3 cut, 10 covering analysts.
Rating actions
1 upgrade, 0 downgrades / 30d, 0 maintained. 64% of analysts rate Buy.
Price target activity
1 PT revisions / 30d. Avg target 19.7% above current price.
Sector context
Intermediate · WeeklySector phase: information technology is in growth, with decelerating (~1.0 years in phase).
Sector regime (90d momentum): tailwind.Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: strong
- Capital allocation
- neutral
- Earnings discipline
- neutral
- Margin discipline
- strong
- Balance sheet
- strong
- Post-call reaction
- neutral
Met or beat guidance 100% of the last 1 guided quarters · 0.0% avg surprise
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$132.
How much price usually moves either way.
On a bad day, this stock has moved -$337.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $4,496.
Deepest peak-to-trough drop in the last year.
elevatedas of 2026-06-12
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- DownsideHigh confidenceQuartersactive 7d
Watch for Q2 revenue growth below 8% year over year
Why it matters: This will show if CDW can keep up with its goal to exceed IT market growth by 200-300 basis points.
What confirms / what disproves
Confirms:Q2 revenue growth prints below 8% year over year.
Disproves:Q2 revenue growth exceeds 8% year over year.
Sector context
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for CDW yet.
This sector is also watching
- Watch for revenue growth in Information Technology to fall below the median.
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for CDW and other Tech names, since rate-sensitive parts of the market tend to rally when the Fed eases.
- If sector bellwethers like IBM, ACN, and CTSH keep beating earnings and guiding higher, the Tech sector momentum should keep lifting CDW and other Tech names. Worth watching these names for early signals.
- If CDW raises forward guidance on the next earnings call (currently NEW as of 2026-05-06), that's a momentum boost. Street estimates typically follow guidance up and the stock tends to re-rate higher.
Downside triggers
- If CDW cuts guidance on the next call (currently NEW as of 2026-05-06), that's a meaningful negative. The Street tends to walk down estimates and the stock usually takes a leg lower.
- If sector bellwethers like IBM, ACN, and CTSH start missing or guiding lower, the Tech tailwind helping CDW and other Tech names could fade. Watch these names for early warning.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-05-061mo agoItem 2.02
Results of Operations and Financial Condition. CDW Corporation (the “Company”) is furnishing under cover of this Current Report on Form 8-K a copy of its press release dated May 6, 2026 announcing its first quarter 2026 financial results. The press release is attached to this report as Exhibit 99.1 and incorporated herein by reference. The Company is furnishing this information in connection with its previously announced webcast conference call to be held on May 6, 2026 at 8:30 a.m. ET / 7:30…
Earnings preannouncement—
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
-7.9 vs last weeklatest as of 2026-06-13
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.