February 06,2020
CDW Q4 FY19
Market Info
Reported 2/6/2020 before hours
2/6/20 closing price change: -1.03%
Ticker: NASDAQ:CDW
Shares Outstanding: 146.4M
Market Cap: $20.912B
Income Statement (Q4)
- Q4 Revenue up 34% YoY from $4.075B to $4.537B
- Corporate Revenue up 02% from $1.836B to $1.965B
- Small Business Revenue up 89% from $362.5M to $391.1M
- Public Revenue up 65% from $1.414B to $1.593B
- Gross Profit up 06% YoY from $693.8M to $777.5M
- Gross Profit Margin up 11bp 03% to 17.14%
- Operating Income up 84% YoY from $242.9 to $283.8M
- Net Income up 51% YoY from $159.3 to $185.6M
- Diluted Q4 EPS up 95% YoY from $1.05 to $1.27
Income Statement (FY19)
- FY19 Revenue up 03% YoY from $16.241B to $18.032B
- Corporate Revenue up 59% from $6.843B to $7.499B
- Small Business Revenue up 08% from $1.360B to $1.510B
- Public Revenue up 54% from $6.155B to $6.865B
- Gross Profit up 30% YoY from $2.707B to $3.040B
- Gross Profit Margin up 19bp from 67% to 16.86%
- Operating Income up 82% YoY from $987.3M to $1.134B
- Net Income up 59% YoY from $643.0M to $736.8M
- Diluted FY19 EPS up 48% YoY from $4.19 to $4.99
Balance Sheet
- Cash $154.0M
- Debt $3.747B
| CDW Corp. | ||||||
| Dec-19 | Sep-19 | Jun-19 | Mar-19 | Dec-18 | Sep-18 | |
| Valuation Ratios | Preliminary | Final | Final | Final | Final | Final |
| Price / Earnings | 28.63 | 25.84 | 24.16 | 21.94 | 19.35 | 20.21 |
| Price / Book Value | 21.77 | 18.97 | 17.19 | 15.20 | 12.28 | 11.56 |
| Dividend Yield (%) | 1.06 | 0.96 | 0.99 | 1.05 | 1.14 | 0.94 |
| Enterprise Value / EBITDA | 20.31 | 15.75 | 15.13 | 13.93 | 12.29 | 13.64 |
| Enterprise Value / Sales | 1.36 | 1.22 | 1.16 | 1.07 | 0.95 | 1.05 |
Source: FactSet
Report created 2.6.20
With questions or concerns please contact:
Max Shiner – Analyst
Email: mshiner@martinwolf.com Phone: 925.215.2740