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Side-by-side financial comparison of CDW Corporation (CDW) and Cintas (CTAS). Click either name above to swap in a different company.
CDW Corporation is the larger business by last-quarter revenue ($5.5B vs $2.8B, roughly 2.0× Cintas). On growth, Cintas posted the faster year-over-year revenue change (9.3% vs 6.3%). Cintas produced more free cash flow last quarter ($425.0M vs $395.9M). Over the past eight quarters, Cintas's revenue compounded faster (7.9% CAGR vs 6.3%).
CDW Corporation is an American multi-brand provider of information technology services, serving business, government, education, and healthcare sectors across the United States, the United Kingdom, and Canada. Headquartered in Vernon Hills, Illinois, CDW is a Fortune 500 and generated $21 billion in annual net sales in 2023.
Cintas Corporation is an American corporation headquartered in Mason, Ohio, which provides a range of products and services to businesses including uniforms, mats, mops, cleaning and restroom supplies, first aid and safety products, fire extinguishers and testing, and safety courses. Cintas is a publicly held company traded on the Nasdaq Global Select Market under the symbol CTAS and is a component of the S&P 500 Index.
CDW vs CTAS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $2.8B |
| Net Profit | — | $495.3M |
| Gross Margin | 22.8% | 50.4% |
| Operating Margin | 7.8% | 23.4% |
| Net Margin | — | 17.7% |
| Revenue YoY | 6.3% | 9.3% |
| Net Profit YoY | — | 10.4% |
| EPS (diluted) | $2.13 | $1.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.5B | $2.8B | ||
| Q3 25 | $5.7B | $2.7B | ||
| Q2 25 | $6.0B | $2.7B | ||
| Q1 25 | $5.2B | $2.6B | ||
| Q4 24 | $5.2B | $2.6B | ||
| Q3 24 | $5.5B | $2.5B | ||
| Q2 24 | $5.4B | $2.5B | ||
| Q1 24 | $4.9B | $2.4B |
| Q4 25 | — | $495.3M | ||
| Q3 25 | $291.0M | $491.1M | ||
| Q2 25 | $271.2M | $448.3M | ||
| Q1 25 | $224.9M | $463.5M | ||
| Q4 24 | — | $448.5M | ||
| Q3 24 | $316.4M | $452.0M | ||
| Q2 24 | $281.1M | $414.3M | ||
| Q1 24 | $216.1M | $397.6M |
| Q4 25 | 22.8% | 50.4% | ||
| Q3 25 | 21.9% | 50.3% | ||
| Q2 25 | 20.8% | 49.7% | ||
| Q1 25 | 21.6% | 50.6% | ||
| Q4 24 | 22.3% | 49.8% | ||
| Q3 24 | 21.8% | 50.1% | ||
| Q2 24 | 21.8% | — | ||
| Q1 24 | 21.8% | — |
| Q4 25 | 7.8% | 23.4% | ||
| Q3 25 | 7.7% | 22.7% | ||
| Q2 25 | 7.0% | 22.4% | ||
| Q1 25 | 7.0% | 23.4% | ||
| Q4 24 | 7.9% | 23.1% | ||
| Q3 24 | 8.7% | 22.4% | ||
| Q2 24 | 8.0% | 22.2% | ||
| Q1 24 | 6.7% | 21.6% |
| Q4 25 | — | 17.7% | ||
| Q3 25 | 5.1% | 18.1% | ||
| Q2 25 | 4.5% | 16.8% | ||
| Q1 25 | 4.3% | 17.8% | ||
| Q4 24 | — | 17.5% | ||
| Q3 24 | 5.7% | 18.1% | ||
| Q2 24 | 5.2% | 16.8% | ||
| Q1 24 | 4.4% | 16.5% |
| Q4 25 | $2.13 | $1.21 | ||
| Q3 25 | $2.21 | $1.20 | ||
| Q2 25 | $2.05 | $1.08 | ||
| Q1 25 | $1.69 | $1.13 | ||
| Q4 24 | $1.97 | $1.09 | ||
| Q3 24 | $2.34 | $1.10 | ||
| Q2 24 | $2.07 | $4.00 | ||
| Q1 24 | $1.59 | $3.84 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $618.7M | $200.8M |
| Total DebtLower is stronger | — | $2.4B |
| Stockholders' EquityBook value | $2.6B | $4.5B |
| Total Assets | $16.0B | $10.1B |
| Debt / EquityLower = less leverage | — | 0.54× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $618.7M | $200.8M | ||
| Q3 25 | $452.9M | $138.1M | ||
| Q2 25 | $481.0M | $264.0M | ||
| Q1 25 | $688.1M | $243.4M | ||
| Q4 24 | $717.7M | $122.4M | ||
| Q3 24 | $1.2B | $101.4M | ||
| Q2 24 | $665.3M | $342.0M | ||
| Q1 24 | $803.8M | $128.5M |
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $2.5B |
| Q4 25 | $2.6B | $4.5B | ||
| Q3 25 | $2.5B | $4.8B | ||
| Q2 25 | $2.5B | $4.7B | ||
| Q1 25 | $2.3B | $4.6B | ||
| Q4 24 | $2.4B | $4.3B | ||
| Q3 24 | $2.3B | $4.0B | ||
| Q2 24 | $2.2B | $4.3B | ||
| Q1 24 | $2.1B | $4.2B |
| Q4 25 | $16.0B | $10.1B | ||
| Q3 25 | $15.2B | $9.8B | ||
| Q2 25 | $15.3B | $9.8B | ||
| Q1 25 | $15.0B | $9.6B | ||
| Q4 24 | $14.7B | $9.4B | ||
| Q3 24 | $14.4B | $9.1B | ||
| Q2 24 | $13.6B | $9.2B | ||
| Q1 24 | $13.2B | $9.0B |
| Q4 25 | — | 0.54× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.44× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.50× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.58× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $433.8M | $531.2M |
| Free Cash FlowOCF − Capex | $395.9M | $425.0M |
| FCF MarginFCF / Revenue | 7.2% | 15.2% |
| Capex IntensityCapex / Revenue | 0.7% | 3.8% |
| Cash ConversionOCF / Net Profit | — | 1.07× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $1.8B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $433.8M | $531.2M | ||
| Q3 25 | $328.3M | $414.5M | ||
| Q2 25 | $155.9M | $635.7M | ||
| Q1 25 | $287.2M | $622.0M | ||
| Q4 24 | $345.3M | $441.4M | ||
| Q3 24 | $342.1M | $466.7M | ||
| Q2 24 | $149.9M | $693.0M | ||
| Q1 24 | $440.0M | $657.1M |
| Q4 25 | $395.9M | $425.0M | ||
| Q3 25 | $298.5M | $312.5M | ||
| Q2 25 | $133.4M | $521.1M | ||
| Q1 25 | $260.3M | $522.1M | ||
| Q4 24 | $316.7M | $340.0M | ||
| Q3 24 | $308.5M | $373.8M | ||
| Q2 24 | $119.0M | $591.1M | ||
| Q1 24 | $410.5M | $550.1M |
| Q4 25 | 7.2% | 15.2% | ||
| Q3 25 | 5.2% | 11.5% | ||
| Q2 25 | 2.2% | 19.5% | ||
| Q1 25 | 5.0% | 20.0% | ||
| Q4 24 | 6.1% | 13.3% | ||
| Q3 24 | 5.6% | 14.9% | ||
| Q2 24 | 2.2% | 23.9% | ||
| Q1 24 | 8.4% | 22.9% |
| Q4 25 | 0.7% | 3.8% | ||
| Q3 25 | 0.5% | 3.8% | ||
| Q2 25 | 0.4% | 4.3% | ||
| Q1 25 | 0.5% | 3.8% | ||
| Q4 24 | 0.6% | 4.0% | ||
| Q3 24 | 0.6% | 3.7% | ||
| Q2 24 | 0.6% | 4.1% | ||
| Q1 24 | 0.6% | 4.4% |
| Q4 25 | — | 1.07× | ||
| Q3 25 | 1.13× | 0.84× | ||
| Q2 25 | 0.57× | 1.42× | ||
| Q1 25 | 1.28× | 1.34× | ||
| Q4 24 | — | 0.98× | ||
| Q3 24 | 1.08× | 1.03× | ||
| Q2 24 | 0.53× | 1.67× | ||
| Q1 24 | 2.04× | 1.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
Segment breakdown not available.
CTAS
| Uniform Rental And Facility Services Segment | $2.2B | 77% |
| First Aid And Safety Services Segment | $342.2M | 12% |
| Fire Protection Services | $222.5M | 8% |
| Uniform Direct Sales | $79.8M | 3% |
