Cdw Corporation · NASDAQ:CDW
Cdw — Investor Presentation (May 2026)
23 slides from Cdw's investor presentation, May 2026
Slide 1: Investor Presentation 2026 Spring / Summer
INVESTOR PRESENTATION 2026 | SPRING / SUMMER
Slide 2: Disclaimers
Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the futur
Slide 3: Track Record of Profitable Growth
Track Record of Profitable Growth NET SALES & GROSS PROFIT ($B) • Market-leading provider of integrated technology solutions to business, government, CAGR (2016 – 2025) education, and healthcare customers for 40+ Net Sales: 6% years Gross Profit: 9% $23.7 $21.4 $22.4 $20.8 $21.0 $16.2 $18.0 $18.5 $1
Slide 4: Strategy Drives Share Gain In Large and Growing Market
Strategy Drives Share Gain In Large and Growing Market THREE-PART STRATEGY FOR GROWTH TOTAL ADDRESSABLE MARKET Capture Share and Acquire New 1 Customers Total US, UK, and Canada IT Market: ~$1,350B(1) Enhance Capabilities in High-Growth 2 Solutions Areas CDW Current Addressable Market: 3 Expand Serv
Slide 5: Balanced Portfolio Offers Multiple Profitable Growth Drivers
Balanced Portfolio Offers Multiple Profitable Growth Drivers Diverse Customer Channels and Geography Create Multiple Drivers of Profitable Growth and Diversification Against Macro and Exogenous Headwinds 2025 NET SALES & Y/Y GROWTH % NET SALES vs GROSS PROFIT GROWTH % ($22.4B, +6.8%) Other 21% (UK,
Slide 6: Uniquely Positioned to Deliver Customer and Partner Value
Uniquely Positioned to Deliver Customer and Partner Value CDW Sits Between Customers and Vendor Partners, Creating Value for Both VALUE TO CUSTOMERS • Broad selection of products and multi-branded IT solutions • Value-added services with integration capabilities • Highly-skilled specialists and engi
Slide 7: Highly Complex and Interconnected Customer Experiences
HIGHLY COMPLEX AND INTERCONNECTED CUSTOMER EXPERIENCES 7
Slide 8: Full Solutions Stack, Full Outcome, and Full IT Lifecycle
FULL SOLUTIONS STACK, FULL OUTCOME, AND FULL IT LIFECYCLE As a trusted advisor, we help customers navigate and be successful in an ever-changing world by providing them the technology advice and solutions they need, when they need them. 8
Slide 9: Broad Portfolio of Solutions and Services
Broad Portfolio of Solutions and Services The breadth of our product and solutions portfolio ON PREMISE ON JOURNEY ON MULTI-CLOUD ensures we are well- positioned to meet our SOLUTION TRANSFORMATION PLATFORM customers’ needs and pivot DESIGNS DESIGNS DESIGNS DESIGN quickly to trends in customer deman
Slide 10: AI360 at CDW
AI360 at CDW We have a holistic approach to drive value from AI across our business Customers Partners The provider of choice to The gateway go-to-market drive AI-powered partner for AI in the transformation outcomes Customers Partners marketplace AI360 Coworkers Enterprise Coworkers Enterprise A ma
Slide 11: A Trusted Partner for AI Adoption
A Trusted Partner for AI Adoption Differentiated mix of technology, services, and innovation Purpose-built Technology Services to get Customers Solutions Designed for Commitment to Expertise & for a Customer’s AI Journey from Idea to Execution Customer Industry Innovation CDW has direct access to th
Slide 12: Proven Track Record of Execution to Accelerate Capabilities
Proven Track Record of Execution to Accelerate Capabilities 2025 Acquires Lexicon Tech Solutions1 Complexity / Productivity and Growth Benefits 2024 Acquires Mission Cloud Services 2023 Acquires Locus Recruiting and Enquizit 2021 Acquires Amplified IT, Focal Point and Sirius Computer Solutions 2020
Slide 13: Highly Skilled Services and Sales Capabilities
Highly Skilled Services and Sales Capabilities (1) ~10,400 CUSTOMER-FACING COWORKERS (CFCW) (2) ~6,200 TECHNICAL COWORKERS (3) Our strong technical organization d ille ists k S ial includes approximately 6,200 technical ec C No CW Sp n- coworkers, including highly-skilled F specialists and engineers
Slide 14: International Presence to Better Serve Customers
International Presence to Better Serve Customers Able to provide IT solutions to ~150 countries(1) Located in 11 countries Capability to export to(2) No presence 1. As of December 31, 2025. 2. Includes countries in the trailing 24 months that CDW has exported to or is able to supplement export capab
Slide 15: Sustainable Competitive Advantages
Sustainable Competitive Advantages SUPERIOR VALUE DIFFERENTIATED GROWTH STRONG ROWC Highly Engaged Highly-Skilled Scale and Scope Performance - Driven Sales and Culture Service Capabilities Robust Multinational Footprint Deep and Distribution and Logistics With International Experienced Capabilities
Slide 16: Strong Financial Performance
Strong Financial Performance NET SALES GROSS PROFIT Net sales ($B) Netted down revenues as % of Gross profit (%)(1) Gross profit ($M) CAGR (2016 – 2025) $23.7 CAGR (2016 – 2025) $4,687 $4,652 $4,602 $4,873 $4,941 $22.9 $4,661 Net Sales: 6% $20.8 $21.4 $21.0 $22.4 $21.3 Gross Profit: 9% $18.0 $18.5 $
Slide 17: Strong Return on Working Capital
Strong Return on Working Capital(1) 65.5% 66.1% 65.0% 63.7% 59.1% 58.7% 58.0% 54.9% 55.1% 54.3% 52.8% Highly focused on balancing working ROWC (%) capital investments to support customers while generating attractive returns on invested capital. 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1'26
Slide 18: 2026 Capital Allocation Priorities
2026 Capital Allocation Priorities PRIORITIES OBJECTIVES ACTIONS Target ~25% payout of Non-GAAP net ~1% increase in November 2025 INCREASE DIVIDEND ANNUALLY income*; grow in-line with earnings to $2.52/share annually Target ~2.0 to 3.0 times Net Leverage Ratio; MAINTAIN NET LEVERAGE RATIO(1) consist
Slide 19: 2026 Outlook
CUSTOMER SPEND U.S. IT growth plus a premium target of ~200 to 300 bps(3) GROSS PROFIT 2026 (1),(2) Low-to-mid single-digit growth OUTLOOK NON-GAAP NET INCOME PER DILUTED SHARE* Mid single-digit growth 1. Certain annual outlooks are provided on a non-GAAP basis because certain reconciling items are
Slide 20: Returned Approximately $8.4B in Cash to Shareholders Since 2013
Returned Approximately $8.4B in Cash to Shareholders Since 2013(1) DIVIDENDS PAID ($M) SHARE REPURCHASES ($M)(2) $322 $332 $329 In 2022, CDW paused $1,500 CAGR (2014 – 2025) share repurchases(3) Dividends Paid: 23% $283 (1)(2) $657 $653 $235 $220 $534 $522 $183 $500 $500 $139 $367 $341 $107 $79 $241
Slide 21: Investment Highlights
• ~$450B(1) addressable market opportunity with attractive growth potential • Market-leading provider of integrated technology solutions in a highly fragmented IT Solutions Industry • Proven ability to evolve and capitalize on IT trends INVESTMENT HIGHLIGHTS • Flexible, nimble, performance-driven cu
Slide 22: Appendix
APPENDIX 22
Slide 23: Debt Maturity Profile
Debt Maturity Profile As of March 31, 2026 ($M) Weighted Average Rate: 4.0% Weighted Average Maturity: 3.8 years $635 $600 $1,887 $500 $1,000 $1,000 $600 $700 $600 $363 2026 2027 2028 2029 2030 2031 2032 2033 2034 Senior Notes 2.670% Due 2026 Senior Notes 3.250% Due 2029 Senior Notes 5.100% Due 2030