Question 1

What is CDW's EV/EBITDA ratio?

Accepted Answer

CDW (CDW) EV/EBITDA ratio is 12.1× as of July 22, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for CDW?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For CDW specifically, the relevant sector benchmark is the current sector median of 20.3×.

Question 5

Is CDW's EV/EBITDA ratio high or low?

Accepted Answer

CDW's EV/EBITDA ratio of 12.1× is below its own 5-year average of 16.1× and below the sector median of 20.3×. That places the current reading at the 8th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is CDW's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, CDW (CDW) EV/EBITDA ratio has ranged from a low of 1.8× in 2007 to a high of 20.7× in 2024. The 5-year average is 16.1× and the 5-year median is 16.2×.

Question 7

What was CDW's EV/EBITDA ratio in 2025?

Accepted Answer

CDW (CDW) EV/EBITDA ratio at the end of 2025 was 12.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does CDW's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$17.7B	$1.95B	12.0×	-2.8×	Dec 31, 2025
2024	$23.2B	$1.93B	14.8×	-3.6×	Dec 31, 2024
2023	$30.5B	$1.95B	18.3×	+3.4×	Dec 31, 2023
2022	$24.2B	$2.01B	14.9×	-6.4×	Dec 31, 2022
2021	$27.7B	$1.64B	21.2×	+7.4×	Dec 31, 2021
2020	$18.8B	$1.58B	13.9×	-3.7×	Dec 31, 2020
2019	$20.5B	$1.38B	17.6×	+5.5×	Dec 31, 2019
2018	$12.1B	$1.25B	12.0×	-0.7×	Dec 31, 2018
2017	$10.6B	$1.07B	12.8×	+2.2×	Dec 31, 2017
2016	$8.34B	$1.07B	10.5×	+0.6×	Dec 31, 2016
2015	$7.08B	$1.03B	10.0×	-1.2×	Dec 31, 2015
2014	$6.04B	$793M	11.2×	+0.4×	Dec 31, 2014
2013	$3.95B	$654M	10.7×	+1.1×	Dec 31, 2013
2012	$3.02B	$704M	9.6×	-2.0×	Dec 31, 2012
2011	$2.67B	$573M	11.6×	-2.0×	Dec 31, 2011
2010	$2.67B	$509M	13.6×	-2.6×	Dec 31, 2010
2009	$2.67B	$445M	16.2×	—	Dec 31, 2009
2006	$1.43B	$425M	2.5×	+0.5×	Dec 31, 2006
2005	$1.47B	$441M	2.0×	-0.5×	Dec 31, 2005
2004	$1.53B	$410M	2.6×	-1.2×	Dec 31, 2004
2003	$1.52B	$300M	3.7×	+0.5×	Dec 31, 2003
2002	$1.54B	$314M	3.3×	-0.8×	Dec 31, 2002
2001	$1.57B	$284M	4.1×	-1.0×	Dec 31, 2001
2000	$1.6B	$270M	5.2×	—	Dec 31, 2000


Super Micro Computer (SMCI)	10.8×
Adobe (ADBE)	10.6×
Dell Technologies (DELL)	10.6×
NetApp (NTAP)	10.5×
PTC (PTC)	10.2×
Qorvo (QRVO)	10.2×
GoDaddy (GDDY)	10.1×
Gartner (IT)	10.1×
QUALCOMM (QCOM)	9.9×
Ondas Holdings (ONDS)	9.9×
EPAM Systems (EPAM)	9.6×
Accenture (ACN)	9.4×
Science Applications International (SAIC)	9.2×
Skyworks Solutions (SWKS)	9.2×
Amkor Technology (AMKR)	8.7×
Gen Digital (GEN)	8.3×
First Solar (FSLR)	8.3×
Corpay (CPAY)	8.3×
Paycom Software (PAYC)	8.1×
Zoom Communications (ZM)	7.5×
Fiserv (FISV)	7.4×
Cognizant (CTSH)	7.1×
HP (HPQ)	6.4×
Fidelity National Information Services (FIS)	4.8×
IBM (IBM)	3.8×

EV/EBITDA for CDW (CDW) 2000-2026

EV/EBITDA daily chart for CDW (CDW)

Historical EV/EBITDA for CDW (CDW) from 2000 to 2025

About EV/EBITDA at CDW (CDW)

CDW EV/EBITDA by Year

CDW EV/EBITDA 2025: 12.0×

CDW EV/EBITDA 2024: 14.8×

CDW EV/EBITDA 2023: 18.3×

CDW EV/EBITDA 2022: 14.9×

CDW EV/EBITDA 2021: 21.2×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

CDW (CDW) Key Financials