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Side-by-side financial comparison of CDW Corporation (CDW) and Danaher Corporation (DHR). Click either name above to swap in a different company.
Danaher Corporation is the larger business by last-quarter revenue ($6.0B vs $5.5B, roughly 1.1× CDW Corporation). On growth, CDW Corporation posted the faster year-over-year revenue change (6.3% vs 3.7%). Danaher Corporation produced more free cash flow last quarter ($1.1B vs $395.9M). Over the past eight quarters, CDW Corporation's revenue compounded faster (6.3% CAGR vs 1.8%).
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.
Danaher CorporationDHREarnings & Financial Report
Danaher Corporation is an American healthcare company headquartered in Washington, D.C.. It develops products used for advances in biotechnology, life sciences, and diagnostics. The company operates three divisions: biotechnology, which develops products for the development of therapeutics; life sciences, which develops products to identify causes of disease, new therapies, and to test and manufacture new drugs, vaccines and gene editing technologies; and diagnostics, which develops instruments,...
CDW vs DHR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $6.0B |
| Net Profit | — | $1.0B |
| Gross Margin | 22.8% | 60.3% |
| Operating Margin | 7.8% | 22.6% |
| Net Margin | — | 17.3% |
| Revenue YoY | 6.3% | 3.7% |
| Net Profit YoY | — | 7.9% |
| EPS (diluted) | $2.13 | $1.45 |
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.
| Q1 26 | — | $6.0B | ||
| Q4 25 | $5.5B | $6.8B | ||
| Q3 25 | $5.7B | $6.1B | ||
| Q2 25 | $6.0B | $5.9B | ||
| Q1 25 | $5.2B | $5.7B | ||
| Q4 24 | $5.2B | $6.5B | ||
| Q3 24 | $5.5B | $5.8B | ||
| Q2 24 | $5.4B | $5.7B |
| Q1 26 | — | $1.0B | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $291.0M | $908.0M | ||
| Q2 25 | $271.2M | $555.0M | ||
| Q1 25 | $224.9M | $954.0M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $316.4M | $818.0M | ||
| Q2 24 | $281.1M | $907.0M |
| Q1 26 | — | 60.3% | ||
| Q4 25 | 22.8% | 58.0% | ||
| Q3 25 | 21.9% | 58.2% | ||
| Q2 25 | 20.8% | 59.3% | ||
| Q1 25 | 21.6% | 61.2% | ||
| Q4 24 | 22.3% | 59.5% | ||
| Q3 24 | 21.8% | 58.7% | ||
| Q2 24 | 21.8% | 59.7% |
| Q1 26 | — | 22.6% | ||
| Q4 25 | 7.8% | 22.0% | ||
| Q3 25 | 7.7% | 19.1% | ||
| Q2 25 | 7.0% | 12.8% | ||
| Q1 25 | 7.0% | 22.2% | ||
| Q4 24 | 7.9% | 21.8% | ||
| Q3 24 | 8.7% | 16.5% | ||
| Q2 24 | 8.0% | 20.3% |
| Q1 26 | — | 17.3% | ||
| Q4 25 | — | 17.5% | ||
| Q3 25 | 5.1% | 15.0% | ||
| Q2 25 | 4.5% | 9.3% | ||
| Q1 25 | 4.3% | 16.6% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | 5.7% | 14.1% | ||
| Q2 24 | 5.2% | 15.8% |
| Q1 26 | — | $1.45 | ||
| Q4 25 | $2.13 | $1.69 | ||
| Q3 25 | $2.21 | $1.27 | ||
| Q2 25 | $2.05 | $0.77 | ||
| Q1 25 | $1.69 | $1.32 | ||
| Q4 24 | $1.97 | $1.50 | ||
| Q3 24 | $2.34 | $1.12 | ||
| Q2 24 | $2.07 | $1.22 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | — |
| Total Assets | $16.0B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $618.7M | — | ||
| Q3 25 | $452.9M | — | ||
| Q2 25 | $481.0M | — | ||
| Q1 25 | $688.1M | — | ||
| Q4 24 | $717.7M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $665.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $18.4B | ||
| Q3 25 | — | $16.9B | ||
| Q2 25 | — | $17.4B | ||
| Q1 25 | — | $16.5B | ||
| Q4 24 | — | $16.0B | ||
| Q3 24 | — | $17.5B | ||
| Q2 24 | — | $17.0B |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $52.5B | ||
| Q3 25 | $2.5B | $51.1B | ||
| Q2 25 | $2.5B | $52.3B | ||
| Q1 25 | $2.3B | $50.8B | ||
| Q4 24 | $2.4B | $49.5B | ||
| Q3 24 | $2.3B | $51.3B | ||
| Q2 24 | $2.2B | $49.9B |
| Q1 26 | — | — | ||
| Q4 25 | $16.0B | $83.5B | ||
| Q3 25 | $15.2B | $79.9B | ||
| Q2 25 | $15.3B | $81.6B | ||
| Q1 25 | $15.0B | $79.1B | ||
| Q4 24 | $14.7B | $77.5B | ||
| Q3 24 | $14.4B | $80.6B | ||
| Q2 24 | $13.6B | $78.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 0.33× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.34× |
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 | $1.3B |
| Free Cash FlowOCF − Capex | $395.9M | $1.1B |
| FCF MarginFCF / Revenue | 7.2% | 18.2% |
| Capex IntensityCapex / Revenue | 0.7% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.28× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $5.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.3B | ||
| Q4 25 | $433.8M | $2.1B | ||
| Q3 25 | $328.3M | $1.7B | ||
| Q2 25 | $155.9M | $1.3B | ||
| Q1 25 | $287.2M | $1.3B | ||
| Q4 24 | $345.3M | $2.0B | ||
| Q3 24 | $342.1M | $1.5B | ||
| Q2 24 | $149.9M | $1.4B |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $395.9M | $1.7B | ||
| Q3 25 | $298.5M | $1.4B | ||
| Q2 25 | $133.4M | $1.1B | ||
| Q1 25 | $260.3M | $1.1B | ||
| Q4 24 | $316.7M | $1.5B | ||
| Q3 24 | $308.5M | $1.2B | ||
| Q2 24 | $119.0M | $1.1B |
| Q1 26 | — | 18.2% | ||
| Q4 25 | 7.2% | 25.5% | ||
| Q3 25 | 5.2% | 22.6% | ||
| Q2 25 | 2.2% | 18.4% | ||
| Q1 25 | 5.0% | 18.4% | ||
| Q4 24 | 6.1% | 23.0% | ||
| Q3 24 | 5.6% | 21.0% | ||
| Q2 24 | 2.2% | 19.7% |
| Q1 26 | — | 4.0% | ||
| Q4 25 | 0.7% | 5.4% | ||
| Q3 25 | 0.5% | 4.8% | ||
| Q2 25 | 0.4% | 4.2% | ||
| Q1 25 | 0.5% | 4.3% | ||
| Q4 24 | 0.6% | 7.9% | ||
| Q3 24 | 0.6% | 5.1% | ||
| Q2 24 | 0.6% | 5.0% |
| Q1 26 | — | 1.28× | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | 1.13× | 1.83× | ||
| Q2 25 | 0.57× | 2.41× | ||
| Q1 25 | 1.28× | 1.36× | ||
| Q4 24 | — | 1.86× | ||
| Q3 24 | 1.08× | 1.85× | ||
| Q2 24 | 0.53× | 1.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
