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CDW (CDW)

Market Price (2/10/2026): $143.45 | Market Cap: $18.8 Bil
Sector: Information Technology | Industry: Technology Distributors

CDW (CDW)

Market Price (2/10/2026): $143.45
Market Cap: $18.8 Bil
Sector: Information Technology
Industry: Technology Distributors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 5.4%		 Weak multi-year price returns
2Y Excs Rtn is -77%, 3Y Excs Rtn is -93%		 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.3%
1 Low stock price volatility
Vol 12M is 34%		  Key risks
CDW key risks include [1] its heavy dependence on vendor partner relationships, Show more.
2 Megatrend and thematic drivers
Megatrends include Artificial Intelligence, Cloud Computing, and Cybersecurity. Themes include Data Centers & Infrastructure, Show more.		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 5.4%
1 Low stock price volatility
Vol 12M is 34%
2 Megatrend and thematic drivers
Megatrends include Artificial Intelligence, Cloud Computing, and Cybersecurity. Themes include Data Centers & Infrastructure, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -77%, 3Y Excs Rtn is -93%
4 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.3%
5 Key risks
CDW key risks include [1] its heavy dependence on vendor partner relationships, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

CDW (CDW) stock has lost about 10% since 10/31/2025 because of the following key factors:

1. Analyst Downgrades and Reduced Price Targets.

Several financial analysts lowered their ratings and price targets for CDW during the period. For instance, Morgan Stanley downgraded CDW from "overweight" to "equal weight" on January 20, 2026, simultaneously reducing its price target from $177.00 to $141.00. Similarly, Citigroup adjusted its target to $148.00, citing a sector-wide recalibration within the technology hardware market. Evercore ISI also revised its price target for CDW to $180.00. These adjustments by key analysts signal a less optimistic outlook on the company's future performance and valuation.

2. Weakness in Key Market Segments and Cautious Management Guidance.

CDW's management had previously highlighted areas of softness, particularly in demand from government and education sectors. This cautious outlook was reflected in their guidance, which anticipated a slight decline in earnings per share (EPS) in the near term if these end markets continued to be sluggish. Additionally, the Corporate segment, which represents a significant portion of CDW's revenue, experienced only modest growth of 1.0% in the fourth quarter of 2025, indicating ongoing prudence among large enterprise customers. Factors such as uncertainty around tariffs, shifts in funding for education and healthcare, and changes in government spending priorities were noted as contributing to the complex environment in 2025.

Show more

Stock Movement Drivers

Fundamental Drivers

The -9.6% change in CDW stock from 10/31/2025 to 2/9/2026 was primarily driven by a -7.8% change in the company's P/E Multiple.
(LTM values as of)103120252092026Change
Stock Price ($)158.66143.44-9.6%
Change Contribution By: 
Total Revenues ($ Mil)21,87822,0991.0%
Net Income Margin (%)4.9%4.8%-3.3%
P/E Multiple19.417.9-7.8%
Shares Outstanding (Mil)1321310.5%
Cumulative Contribution-9.6%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/9/2026
ReturnCorrelation
CDW-9.6% 
Market (SPY)1.7%41.5%
Sector (XLK)-4.6%23.7%

Fundamental Drivers

The -17.1% change in CDW stock from 7/31/2025 to 2/9/2026 was primarily driven by a -15.3% change in the company's P/E Multiple.
(LTM values as of)73120252092026Change
Stock Price ($)172.96143.44-17.1%
Change Contribution By: 
Total Revenues ($ Mil)21,32522,0993.6%
Net Income Margin (%)5.1%4.8%-6.6%
P/E Multiple21.117.9-15.3%
Shares Outstanding (Mil)1321311.1%
Cumulative Contribution-17.1%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/9/2026
ReturnCorrelation
CDW-17.1% 
Market (SPY)10.1%44.6%
Sector (XLK)9.3%29.7%

Fundamental Drivers

The -26.9% change in CDW stock from 1/31/2025 to 2/9/2026 was primarily driven by a -24.3% change in the company's P/E Multiple.
(LTM values as of)13120252092026Change
Stock Price ($)196.18143.44-26.9%
Change Contribution By: 
Total Revenues ($ Mil)20,83122,0996.1%
Net Income Margin (%)5.3%4.8%-10.7%
P/E Multiple23.617.9-24.3%
Shares Outstanding (Mil)1341311.9%
Cumulative Contribution-26.9%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/9/2026
ReturnCorrelation
CDW-26.9% 
Market (SPY)16.3%63.6%
Sector (XLK)24.8%57.1%

Fundamental Drivers

The -24.0% change in CDW stock from 1/31/2023 to 2/9/2026 was primarily driven by a -27.0% change in the company's P/E Multiple.
(LTM values as of)13120232092026Change
Stock Price ($)188.64143.44-24.0%
Change Contribution By: 
Total Revenues ($ Mil)23,84722,099-7.3%
Net Income Margin (%)4.4%4.8%8.8%
P/E Multiple24.517.9-27.0%
Shares Outstanding (Mil)1351313.3%
Cumulative Contribution-24.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/9/2026
ReturnCorrelation
CDW-24.0% 
Market (SPY)77.1%55.0%
Sector (XLK)115.2%48.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CDW Return57%-12%29%-23%-21%5%15%
Peers Return48%-19%35%-11%-23%3%14%
S&P 500 Return27%-19%24%23%16%1%85%

Monthly Win Rates [3]
CDW Win Rate75%42%67%42%33%50% 
Peers Win Rate70%43%67%45%37%60% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
CDW Max Drawdown-4%-25%-8%-24%-21%-8% 
Peers Max Drawdown-6%-33%-14%-23%-32%-8% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: ACN, EPAM, NSIT, CNXN, CDW. See CDW Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/9/2026 (YTD)

How Low Can It Go

Unique KeyEventCDWS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-26.7%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven36.4%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven124 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-45.0%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven81.7%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven321 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-21.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven27.4%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven78 days120 days

Compare to ACN, EPAM, NSIT, CNXN, CDW

In The Past

CDW's stock fell -26.7% during the 2022 Inflation Shock from a high on 1/4/2022. A -26.7% loss requires a 36.4% gain to breakeven.

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About CDW (CDW)

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise, hybrid, and cloud capabilities across data center and networking, digital workspace, and security. Its hardware products comprise notebooks/mobile devices, network communications, desktop computers, video monitors, enterprise and data storage, and others; and software products consists of application suites, security, virtualization, operating systems, and network management. The company also provides advisory and design, software development, implementation, managed, professional, configuration, and telecom services, as well as warranties; mission critical software, systems, and network solutions; and implementation and installation, and repair services to its customers through various third-party service providers. It serves government, education, and healthcare customers; and small, medium, and large business customers. The company was founded in 1984 and is headquartered in Vernon Hills, Illinois.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe CDW:

  • Grainger for IT: CDW operates a B2B distribution model similar to Grainger, but focuses on a vast range of technology hardware, software, and services for businesses, government, and education.
  • Best Buy for enterprise and government: Imagine Best Buy, but scaled up to serve the technology procurement and service needs of large businesses, government agencies, and educational institutions rather than individual consumers.

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Major Products and Services of CDW:

  • Hardware Solutions: CDW provides a broad range of physical IT infrastructure, including computers, servers, networking equipment, storage devices, and peripherals from various manufacturers.
  • Software Solutions: CDW offers a comprehensive portfolio of software applications, operating systems, security programs, and cloud-based software from leading publishers.
  • Consulting and Design Services: CDW assists clients in planning, architecting, and optimizing their IT environments, including cloud strategy, data center design, and network infrastructure.
  • Professional Services: CDW delivers expert assistance for the implementation, integration, migration, and deployment of IT systems and applications.
  • Managed Services: CDW provides ongoing operational support, monitoring, and management for client IT infrastructure, applications, and security systems.
  • Security Services: CDW offers specialized solutions and expertise to protect data, networks, and systems from cyber threats, including assessment, implementation, and managed security.

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CDW (symbol: CDW) primarily sells integrated information technology solutions to other companies and organizations, rather than directly to individual consumers.

Due to the highly diversified nature of its customer base, CDW does not publicly disclose specific "major customer companies" by name (e.g., customers accounting for 10% or more of net sales) in its financial filings, as no single customer accounts for such a material portion of its revenue. Instead, CDW serves a vast number of customers across several key market segments, which collectively represent its major customer base:

  • Businesses: This segment includes small, medium, and large private sector organizations across various industries. CDW provides IT hardware, software, and services to help these companies operate and innovate.
  • Government Agencies: CDW is a significant provider of IT solutions to federal, state, and local government entities, helping them manage their technology infrastructure and services.
  • Educational Institutions: This includes a wide range of organizations from K-12 schools to higher education institutions (colleges and universities) that rely on CDW for their technology needs.
  • Healthcare Organizations: CDW supports hospitals, clinics, and other healthcare providers with specialized IT solutions tailored to the unique demands of the healthcare industry.

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  • Cisco (CSCO)
  • Dell Technologies (DELL)
  • HP Inc. (HPQ)
  • Hewlett Packard Enterprise (HPE)
  • Microsoft (MSFT)

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Christine A. Leahy, Chairman; Chief Executive Officer; President

Ms. Leahy has served as Chairman of CDW since January 2023, and as President and Chief Executive Officer since January 2019. A 20-year veteran of CDW, she previously held roles including Chief Revenue Officer, Senior Vice President of International, and the company's first Chief Legal Officer. Prior to joining CDW in 2002, she was a corporate partner in the Chicago office of Sidley Austin, an international business law firm.

Albert J. Miralles, Chief Financial Officer; Executive Vice President - Enterprise Business Operations

Mr. Miralles joined CDW in 2021 and brings 30 years of financial and operating experience. Prior to CDW, he served as Executive Vice President and Chief Financial Officer at CNA Financial Corporation. His previous roles at CNA also included President of CNA Warranty, Executive Vice President and Chief Risk Officer, President of Long Term Care, and Senior Vice President and Treasurer of the CNA Insurance Companies. Before joining CNA Financial in 2011, Mr. Miralles was Chief Financial Officer of Nationwide Investments at Nationwide Mutual Insurance Company and Executive Vice President, Finance and Accounting – Capital Markets Division for Countrywide Securities Corporation.

Peter R. Locy, Chief Accounting Officer; Controller; Vice President

Mr. Locy has served as the Chief Accounting Officer, Vice President, and Controller of CDW since 2022. Prior to this, he served as the Senior Vice President and Corporate Controller of Kemper Insurance. He also held various positions at KPMG, CNA Financial Corporation, and Allianz Global Risks US Insurance company.

Sanjay Sood, Senior Vice President; Chief Technology Officer

Mr. Sood has been the Chief Technology Officer of CDW since July 2020, also serving as Senior Vice President. Before joining CDW, he was the Vice President, General Manager of Highly Automated Driving and Vice President of Core Map Engineering at HERE Technologies. He also held various senior positions at YP (formerly AT&T Interactive).

Frederick J. Kulevich, Chief Legal Officer; Executive Vice President - Risk and Compliance; Secretary

Mr. Kulevich has served as Chief Legal Officer, Executive Vice President - Risk and Compliance, and Secretary since 2017. He is also referred to as Rick Kulevich.

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AI Analysis | Feedback

The key risks to CDW's business operations are primarily centered around cybersecurity threats, the highly competitive and rapidly evolving technology market, and the company's reliance on its vendor partner relationships.

  1. Cybersecurity Risks and Data Privacy Concerns: As a prominent provider of IT solutions, CDW is inherently exposed to sophisticated cyber-attacks, data breaches, and the need to protect sensitive and proprietary information. Such incidents could lead to substantial financial losses, reputational damage, and significant legal and regulatory penalties.

  2. Intense Competition, Market Volatility, and Rapid Technological Changes: The IT solutions market in which CDW operates is characterized by fierce competition, swift technological advancements, and shifting customer preferences. CDW must consistently innovate and adapt its offerings to maintain its market position against both emerging tech companies and established players. Additionally, economic downturns and market volatility can directly impact IT spending, thereby affecting CDW's sales and financial performance.

  3. Dependence on Vendor Partner Relationships: CDW's business model heavily relies on strong relationships with its numerous vendor partners, including original equipment manufacturers (OEMs), software publishers, and cloud providers. Disruptions or adverse changes in the terms of agreements with these key partners could negatively impact CDW's ability to offer a comprehensive portfolio of products and services, potentially affecting the quality and continuity of its solutions.

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The accelerating shift by businesses towards cloud computing and "as-a-service" consumption models for IT infrastructure and software, thereby reducing the demand for traditional on-premise hardware and perpetual software licenses that form a core part of CDW's historical revenue streams.

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The addressable market for CDW's main products and services is approximately $440 billion. This market size is for the United States, the United Kingdom, and Canada. CDW provides a broad array of information technology solutions, including hardware and software, as well as integrated IT solutions such as security, cloud, hybrid infrastructure, and digital experience.

AI Analysis | Feedback

Here are the 3-5 expected drivers of future revenue growth for CDW over the next 2-3 years:
  1. Expansion of Cloud Computing Services and Cybersecurity Solutions: CDW is strategically focused on enhancing its cloud and security portfolio, including through acquisitions like Mission Cloud Services to boost its Amazon Web Services (AWS) capabilities and managed services. This expansion aims to meet evolving customer needs in cloud migration and cybersecurity, areas showing strong demand and double-digit gross profit growth for cloud solutions, which typically feature recurring revenue and high gross margins.
  2. Leveraging Artificial Intelligence (AI) and AI-powered PCs: The integration of AI across CDW's operations is a key focus for delivering innovative solutions to clients. AI is identified as a tangible revenue driver, leading to complex, service-led deals that strengthen customer relationships. The adoption of AI-powered PCs and AI workstations is anticipated to significantly drive hardware sales in the coming years.
  3. Continued Client Device Refresh Cycle: A significant driver of future hardware sales is the ongoing client refresh cycle, particularly for notebooks, mobile devices, and desktops. This cycle is expected to be fueled by factors such as the end-of-life for Windows 10 and the increasing adoption of AI-powered PCs, with the current refresh cycle noted as being "mid-cycle" with considerable runway.
  4. Growth in Key Customer Segments and International Markets: CDW has demonstrated strong growth in its Small Business segment, with net sales increasing by 14.2% in Q3 2025. The company's operations in the UK and Canada also showed robust growth of 9.1% in the same period. Additionally, increased sales were observed in the Government and Healthcare sectors. CDW aims to leverage its diverse customer base to consistently grow faster than the overall US IT market.
  5. Rebound in Infrastructure Hardware Demand: An emerging trend indicates increased demand for infrastructure hardware, including networking products (Netcomm) and servers. This rebound in hardware categories suggests a broader and healthier IT spending environment, extending beyond just client devices. This infrastructure refresh cycle is expected to lead to increased sales of hardware products and associated services, potentially improving CDW's profitability through higher-margin offerings.

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Share Repurchases

  • On February 5, 2025, CDW's Board of Directors authorized a $750 million increase to its share repurchase program, which was incremental to approximately $588 million unused as of December 31, 2024.
  • The company repurchased $500 million of common stock during the first nine months ended September 30, 2025.
  • CDW temporarily suspended share repurchases from March 2020 through October 2020 due to the COVID-19 pandemic and subsequently put a lower priority on repurchases in 2022 until its Net Leverage Ratio was within target range following a major acquisition.

Outbound Investments

  • CDW acquired Sirius Computer Solutions, Inc. for $2.5 billion in cash in December 2021, significantly expanding its services portfolio.
  • In December 2024, CDW acquired Mission Cloud Services Inc., a leading cloud professional services and managed services provider, to enhance its cloud expertise, market scale, and solution capabilities, particularly as an AWS Premier Partner.
  • CDW acquired Enquizit, an AWS cloud services provider, in June 2023 to bolster its Public Sector Cloud Services Practice.

Capital Expenditures

  • CDW's capital expenditures for fiscal years ending December 2020 to 2024 averaged $131.3 million.
  • Capital expenditures peaked at $158 million in December 2020 and reached a 5-year low of $100 million in December 2021.
  • The company continues to invest organically and inorganically in high-growth solutions and services capabilities.

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Peer Comparisons

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Financials

CDWACNEPAMNSITCNXNMedian
NameCDW AccentureEPAM Sys.Insight .PC Conne. 
Mkt Price143.44236.76190.5392.2766.60143.44
Mkt Cap18.8146.610.62.91.710.6
Rev LTM22,09970,7265,2988,2722,8798,272
Op Inc LTM1,63410,151507340101507
FCF LTM1,00911,51245933356459
FCF 3Y Avg1,1709,865523530135530
CFO LTM1,11712,11650236563502
CFO 3Y Avg1,29610,433560569143569

Growth & Margins

CDWACNEPAMNSITCNXNMedian
NameCDW AccentureEPAM Sys.Insight .PC Conne. 
Rev Chg LTM6.1%6.6%14.3%-6.7%3.2%6.1%
Rev Chg 3Y Avg-2.3%4.3%4.3%-7.6%-3.3%-2.3%
Rev Chg Q4.0%6.0%19.4%-4.0%-2.2%4.0%
QoQ Delta Rev Chg LTM1.0%1.5%4.5%-1.0%-0.5%1.0%
Op Mgn LTM7.4%14.4%9.6%4.1%3.5%7.4%
Op Mgn 3Y Avg7.7%14.3%11.0%4.6%3.6%7.7%
QoQ Delta Op Mgn LTM-0.2%-0.3%-1.1%0.0%0.0%-0.2%
CFO/Rev LTM5.1%17.1%9.5%4.4%2.2%5.1%
CFO/Rev 3Y Avg6.0%15.5%11.5%6.3%5.0%6.3%
FCF/Rev LTM4.6%16.3%8.7%4.0%1.9%4.6%
FCF/Rev 3Y Avg5.4%14.6%10.8%5.9%4.7%5.9%

Valuation

CDWACNEPAMNSITCNXNMedian
NameCDW AccentureEPAM Sys.Insight .PC Conne. 
Mkt Cap18.8146.610.62.91.710.6
P/S0.92.12.00.30.60.9
P/EBIT11.513.920.910.316.713.9
P/E17.919.328.520.320.220.2
P/CFO16.812.121.17.926.716.8
Total Yield7.4%7.8%3.5%4.9%5.8%5.8%
Dividend Yield1.8%2.6%0.0%0.0%0.8%0.8%
FCF Yield 3Y Avg5.1%5.0%3.8%12.2%7.8%5.1%
D/E0.30.10.00.60.00.1
Net D/E0.3-0.0-0.10.4-0.2-0.0

Returns

CDWACNEPAMNSITCNXNMedian
NameCDW AccentureEPAM Sys.Insight .PC Conne. 
1M Rtn7.5%-15.6%-10.1%7.6%13.8%7.5%
3M Rtn0.5%-2.6%4.5%0.9%14.5%0.9%
6M Rtn-9.7%0.5%25.5%-25.5%9.1%0.5%
12M Rtn-24.2%-37.3%-26.8%-44.9%5.9%-26.8%
3Y Rtn-27.5%-12.0%-46.6%-27.1%63.9%-27.1%
1M Excs Rtn7.6%-16.6%-13.9%4.9%13.5%4.9%
3M Excs Rtn-1.9%-5.0%9.8%-2.8%12.1%-1.9%
6M Excs Rtn-20.2%-8.8%11.6%-34.1%0.2%-8.8%
12M Excs Rtn-41.6%-52.0%-42.4%-60.0%-9.4%-42.4%
3Y Excs Rtn-92.9%-81.7%-116.4%-87.0%-34.2%-87.0%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Corporate8,96110,3508,1806,8467,499
Public8,3068,5518,1848,1386,865
Other2,5542,9082,5872,0872,158
Small Business1,5561,9391,8701,3971,510
Headquarters00 0 
Total21,37623,74920,82118,46818,032


Operating Income by Segment
$ Mil20242023202220212020
Corporate847932697490585
Public735682607678475
Small Business17718716899108
Other14213111666102
Headquarters-220-196-168-153-136
Total1,6811,7351,4191,1791,134


Price Behavior

Price Behavior
Market Price$143.44 
Market Cap ($ Bil)18.8 
First Trading Date06/27/2013 
Distance from 52W High-25.1% 
   50 Days200 Days
DMA Price$137.00$158.28
DMA Trenddowndown
Distance from DMA4.7%-9.4%
 3M1YR
Volatility31.5%33.5%
Downside Capture64.77135.24
Upside Capture61.0386.62
Correlation (SPY)35.3%64.0%
CDW Betas & Captures as of 1/31/2026

 1M2M3M6M1Y3Y
Beta2.101.611.651.431.141.06
Up Beta3.891.851.101.281.010.96
Down Beta2.962.822.492.051.250.98
Up Capture-1%5%58%54%80%84%
Bmk +ve Days11223471142430
Stock +ve Days12213063123392
Down Capture199%159%194%166%127%107%
Bmk -ve Days9192754109321
Stock -ve Days8203162128360

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CDW
CDW-27.2%33.6%-0.90-
Sector ETF (XLK)22.8%27.5%0.7357.3%
Equity (SPY)15.5%19.4%0.6264.2%
Gold (GLD)78.8%24.9%2.30-7.4%
Commodities (DBC)9.9%16.6%0.4019.2%
Real Estate (VNQ)4.8%16.5%0.1151.1%
Bitcoin (BTCUSD)-27.0%44.8%-0.5723.3%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CDW
CDW1.5%28.3%0.08-
Sector ETF (XLK)17.3%24.7%0.6359.7%
Equity (SPY)14.2%17.0%0.6765.2%
Gold (GLD)22.3%16.9%1.070.2%
Commodities (DBC)11.6%18.9%0.4914.5%
Real Estate (VNQ)5.0%18.8%0.1749.9%
Bitcoin (BTCUSD)14.7%58.0%0.4722.6%

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Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with CDW
CDW15.5%29.6%0.54-
Sector ETF (XLK)22.7%24.2%0.8663.9%
Equity (SPY)15.5%17.9%0.7468.6%
Gold (GLD)15.8%15.5%0.85-3.6%
Commodities (DBC)8.3%17.6%0.3923.4%
Real Estate (VNQ)6.0%20.7%0.2554.1%
Bitcoin (BTCUSD)69.0%66.8%1.0815.7%

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Short Interest

Short Interest: As Of Date1152026
Short Interest: Shares Quantity4.0 Mil
Short Interest: % Change Since 123120250.4%
Average Daily Volume1.4 Mil
Days-to-Cover Short Interest2.8 days
Basic Shares Quantity131.0 Mil
Short % of Basic Shares3.1%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/4/20269.4%  
11/4/2025-8.5%-7.4%-6.2%
8/6/20250.2%-0.7%1.0%
5/7/20257.1%16.3%7.6%
2/5/20253.4%-3.8%-15.8%
10/30/2024-11.3%-12.2%-19.3%
7/31/2024-6.2%-10.3%-3.2%
5/1/2024-11.3%-8.8%-7.6%
...
SUMMARY STATS   
# Positive13911
# Negative111412
Median Positive3.1%4.2%7.6%
Median Negative-2.5%-4.1%-6.1%
Max Positive9.4%16.3%11.4%
Max Negative-11.3%-12.2%-19.3%

SEC Filings

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Report DateFiling DateFiling
09/30/202511/04/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202402/21/202510-K
09/30/202410/30/202410-Q
06/30/202407/31/202410-Q
03/31/202405/01/202410-Q
12/31/202302/26/202410-K
09/30/202311/01/202310-Q
06/30/202308/02/202310-Q
03/31/202305/03/202310-Q
12/31/202202/24/202310-K
09/30/202211/02/202210-Q
06/30/202208/03/202210-Q
03/31/202205/04/202210-Q
12/31/202102/28/202210-K

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Chawla, SonaSee RemarksDirectSell12102025146.177,4001,081,6584,108,875Form
2Kulevich, Frederick JSee RemarksDirectSell5152025190.9028,1595,375,5816,887,186Form
3Leahy, Christine ASee RemarksDirectSell5092025181.4240,9177,423,29326,293,826Form

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