CDW Corporation (CDW)

NASDAQInformation TechnologyInformation Technology ServicesSnapshot 2026-10-15

$150.48-2.49%

Close 2026-10-16 · 1-day change

Read the published Living FV report summary

Investment OutlookAs of Oct 15, 2026

What could strengthen or challenge CDW Corporation’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-0.1%

+10% or more+5%0%−5%−10% or less

12.05 → 12.04 EPS · FY ending Dec 31, 2027 · 7 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 15, 2026 to Oct 15, 2026: (new ÷ prior − 1). Contributor count changed from 7 to 7; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Living FV™

Living Fair Value by QuarterlyIQ

A valuation that evolves as the business changes.

A published Living FV snapshot is not available yet. The valuation workflow remains discoverable; a market target cannot supply the missing evidence.

View Living FV report and workflow

What the Thesis Depends On

Three key conditions need to be met for the investment thesis to play out.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Increase share repurchase program by $1 billion	A supporting condition in CDW Corporation's published investment case. The stated target is Maintain or increase $1B share repurchase authorization.	Intact	No further buyback authorization or reduction in repurchase program	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Maintain strong cash flow generation	Cash flow remains solid near $275 million quarterly.	Broken	quarterly cash from operations falls below $275M	Cash from operations: $219.7M FY2026-Q2; GAAP. Published target: >=$275M cash from operations per quarter. Target period is not explicitly aligned with this observation. Source published Aug 5, 2026219,700,000 USD · source valueSource reportLast status assessment Oct 15, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated in 8 of last 8 quarters. Cash from operating activities ranged from $149.9M in 2024-Q2 to $433.8M in 2025-Q4, showing variability but overall strong cash flow. Management consistently emphasizes disciplined working capital management to support capital priorities. The trajectory shows ongoing focus with fluctuating but generally strong cash flow. Delivery assessment Oct 15, 2026
Revenue growth exceeding US IT market by 200-300 basis points	CDW grows revenue about 9% yearly, beating the US IT market by 2-3 points.	Intact	YoY revenue growth falls below 7% next year	Revenue growth: 9.97% FY2026-Q2; GAAP. Published target: >=7% YoY revenue growth. Target period is not explicitly aligned with this observation. Source published Aug 5, 20269.965532 percent · calculatedSource reportLast status assessment Oct 15, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 8bf787b0-2c61-417c-89f7-fde49b7c7889. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 8 of last 8 quarters. Revenue grew from $4.87B in 2025-Q1 to $6.57B in 2026-Q2, reflecting growth above the US IT market. Management consistently targets exceeding US IT addressable market growth by 200 to 300 basis points on a constant currency basis, and the trajectory is delivering. Delivery assessment Oct 15, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$12.04

$11.78 → $12.04 · observed estimates

FY2027 revenue$25.21B

$24.39B → $25.21B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$11.78	$24,385,333,510	10 / 9
2026-07-25	$11.78	$24,385,333,510	10 / 9
2026-07-26	$11.78	$24,385,333,510	10 / 9
2026-07-27	$11.78	$24,385,333,510	10 / 9
2026-07-28	$11.78	$24,385,333,510	10 / 9
2026-07-29	$11.78	$24,385,333,510	10 / 9
2026-07-30	$11.78	$24,385,333,512	7 / 7
2026-07-31	$11.78	$24,385,333,512	7 / 7
2026-08-01	$11.78	$24,385,333,512	7 / 7
2026-08-02	$11.78	$24,385,333,510	10 / 9
2026-08-03	$11.78	$24,385,333,512	7 / 7
2026-08-04	$11.78	$24,385,333,512	7 / 7
2026-08-05	$11.78	$24,385,333,512	7 / 7
2026-08-06	$11.78	$24,385,333,512	7 / 7
2026-08-07	$11.84	$24,875,939,576	7 / 7
2026-08-08	$11.91	$25,090,998,210	10 / 9
2026-08-09	$11.84	$24,875,939,576	7 / 7
2026-08-10	$11.84	$24,875,939,576	7 / 7
2026-08-11	$11.84	$24,875,939,576	7 / 7
2026-08-12	$11.84	$24,875,939,576	7 / 7
2026-08-13	$11.84	$24,875,939,576	7 / 7
2026-08-14	$11.84	$24,875,939,576	7 / 7
2026-08-15	$11.84	$24,875,939,576	7 / 7
2026-08-16	$11.84	$24,875,939,576	7 / 7
2026-08-17	$11.84	$24,875,939,576	7 / 7
2026-08-18	$11.84	$24,875,939,576	7 / 7
2026-08-19	$11.84	$24,875,939,576	7 / 7
2026-08-20	$11.94	$25,133,741,376	7 / 7
2026-08-21	$11.94	$25,133,741,376	7 / 7
2026-08-22	$11.94	$25,133,741,376	7 / 7
2026-08-23	$11.94	$25,133,741,376	7 / 7
2026-08-24	$11.94	$25,133,741,376	7 / 7
2026-08-25	$11.94	$25,133,741,376	7 / 7
2026-08-26	$11.94	$25,133,741,376	7 / 7
2026-08-27	$11.94	$25,133,741,376	7 / 7
2026-08-28	$11.94	$25,133,741,376	7 / 7
2026-08-29	$11.94	$25,133,719,153	7 / 7
2026-08-30	$11.94	$25,133,719,153	7 / 7
2026-08-31	$11.94	$25,133,719,153	7 / 7
2026-09-01	$11.94	$25,133,719,153	7 / 7
2026-09-02	$11.94	$25,133,719,153	7 / 7
2026-09-03	$11.94	$25,133,719,153	7 / 7
2026-09-04	$11.94	$25,133,719,153	7 / 7
2026-09-05	$11.94	$25,133,719,153	7 / 7
2026-09-06	$11.94	$25,133,719,153	7 / 7
2026-09-07	$11.94	$25,133,719,153	7 / 7
2026-09-08	$11.94	$25,133,719,153	7 / 7
2026-09-09	$12.05	$25,133,719,153	7 / 7
2026-09-10	$12.05	$25,133,719,153	7 / 7
2026-09-11	$12.05	$25,133,719,153	7 / 7
2026-09-12	$12.05	$25,133,719,153	7 / 7
2026-09-13	$12.05	$25,133,719,153	7 / 7
2026-09-14	$12.05	$25,133,719,153	7 / 7
2026-09-15	$12.05	$25,133,719,153	7 / 7
2026-09-16	$12.05	$25,133,719,153	7 / 7
2026-09-17	$12.05	$25,133,719,153	7 / 7
2026-09-18	$12.05	$25,133,719,153	7 / 7
2026-09-19	$12.05	$25,133,719,153	7 / 7
2026-09-20	$12.05	$25,133,719,153	7 / 7
2026-09-21	$12.05	$25,133,719,153	7 / 7
2026-09-22	$12.01	$25,133,719,153	7 / 7
2026-09-23	$12.01	$25,133,719,153	7 / 7
2026-09-24	$12.01	$25,133,719,153	7 / 7
2026-09-25	$12.01	$25,133,719,153	7 / 7
2026-09-26	$12.01	$25,133,719,153	7 / 7
2026-09-27	$12.01	$25,133,719,153	7 / 7
2026-09-28	$12.01	$25,133,719,153	7 / 7
2026-09-29	$12.01	$25,133,719,153	7 / 7
2026-09-30	$12.01	$25,133,719,153	7 / 7
2026-10-01	$12.01	$25,133,719,153	7 / 7
2026-10-02	$12.01	$25,133,719,153	7 / 7
2026-10-03	$12.01	$25,133,719,153	7 / 7
2026-10-04	$12.01	$25,133,719,153	7 / 7
2026-10-05	$12.01	$25,133,719,153	7 / 7
2026-10-06	$12.01	$25,133,719,153	7 / 7
2026-10-07	$12.01	$25,133,719,153	7 / 7
2026-10-08	$12.01	$25,133,719,153	7 / 7
2026-10-09	$12.01	$25,133,719,153	7 / 7
2026-10-10	$12.01	$25,133,719,153	7 / 7
2026-10-11	$12.04	$25,210,776,747	7 / 7
2026-10-12	$12.04	$25,210,776,747	7 / 7
2026-10-13	$12.04	$25,210,776,747	7 / 7
2026-10-14	$12.04	$25,210,776,747	7 / 7
2026-10-15	$12.04	$25,210,776,747	7 / 7

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	7	5
2026-06-01	8	4
2026-07-01	7	3
2026-08-01	7	3
2026-09-01	7	3
2026-10-01	7	3

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 7 Buy / Strong Buy · 3 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 16–Oct 15 · 1 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 16, 2026–Oct 15, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Increase share repurchase program by $1 billionDirect metric needs a verified mapping
Maintain strong cash flow generationPublished status: Broken
Revenue growth exceeding US IT market by 200-300 basis pointsRevenue growth: 9.97%

Next proof point

Nov 3, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.7%Typical daily move · historical

Downside history

-37.1%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

CDW Corporation outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 10, 2026

What kind of bet this is

CDW represents a durable compounder in the technology sector. The current thesis state is intact, supported by consistent management priorities and a favorable market environment.

What's priced into CDW Corporation

The market currently prices CDW as cheap compared to its peers, with a slight expectations gap. This suggests that investors may not fully account for its growth potential relative to the broader tech sector.

What the fundamentals likely do

Management has demonstrated a focus on exceeding market growth and maintaining strong cash flow. While recent financial performance has been neutral, the risk of missing future guidance remains low but noteworthy, given industry trends.

What CDW Corporation hinges on

The thesis hinges on several factors, including potential Federal Reserve rate cuts and continued strong performance from sector leaders like IBM and Accenture. Additionally, any changes in guidance from CDW will be critical to watch.