vs
Side-by-side financial comparison of CDW Corporation (CDW) and DTE Energy (DTE). Click either name above to swap in a different company.
CDW Corporation is the larger business by last-quarter revenue ($5.7B vs $4.4B, roughly 1.3× DTE Energy). DTE Energy runs the higher net margin — 8.3% vs 4.1%, a 4.2% gap on every dollar of revenue. On growth, DTE Energy posted the faster year-over-year revenue change (28.9% vs 9.2%). Over the past eight quarters, DTE Energy's revenue compounded faster (16.9% CAGR vs 2.3%).
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.
DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services in the United States and Canada. Its operating units include an electric utility serving 2.2 million customers and a natural gas utility serving 1.3 million customers in Michigan.
CDW vs DTE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.7B | $4.4B |
| Net Profit | $235.4M | $369.0M |
| Gross Margin | 21.0% | — |
| Operating Margin | 6.6% | 15.9% |
| Net Margin | 4.1% | 8.3% |
| Revenue YoY | 9.2% | 28.9% |
| Net Profit YoY | 4.7% | 26.4% |
| EPS (diluted) | $1.82 | $1.78 |
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 | $5.7B | — | ||
| Q4 25 | $5.5B | $4.4B | ||
| Q3 25 | $5.7B | $3.5B | ||
| Q2 25 | $6.0B | $3.4B | ||
| Q1 25 | $5.2B | $4.4B | ||
| Q4 24 | $5.2B | $3.4B | ||
| Q3 24 | $5.5B | $2.9B | ||
| Q2 24 | $5.4B | $2.9B |
| Q1 26 | $235.4M | — | ||
| Q4 25 | — | $369.0M | ||
| Q3 25 | $291.0M | $419.0M | ||
| Q2 25 | $271.2M | $229.0M | ||
| Q1 25 | $224.9M | $445.0M | ||
| Q4 24 | — | $292.0M | ||
| Q3 24 | $316.4M | $477.0M | ||
| Q2 24 | $281.1M | $322.0M |
| Q1 26 | 21.0% | — | ||
| Q4 25 | 22.8% | — | ||
| Q3 25 | 21.9% | — | ||
| Q2 25 | 20.8% | — | ||
| Q1 25 | 21.6% | — | ||
| Q4 24 | 22.3% | — | ||
| Q3 24 | 21.8% | — | ||
| Q2 24 | 21.8% | — |
| Q1 26 | 6.6% | — | ||
| Q4 25 | 7.8% | 15.9% | ||
| Q3 25 | 7.7% | 17.6% | ||
| Q2 25 | 7.0% | 12.5% | ||
| Q1 25 | 7.0% | 14.1% | ||
| Q4 24 | 7.9% | 16.2% | ||
| Q3 24 | 8.7% | 17.8% | ||
| Q2 24 | 8.0% | 17.5% |
| Q1 26 | 4.1% | — | ||
| Q4 25 | — | 8.3% | ||
| Q3 25 | 5.1% | 11.9% | ||
| Q2 25 | 4.5% | 6.7% | ||
| Q1 25 | 4.3% | 10.0% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | 5.7% | 16.4% | ||
| Q2 24 | 5.2% | 11.2% |
| Q1 26 | $1.82 | — | ||
| Q4 25 | $2.13 | $1.78 | ||
| Q3 25 | $2.21 | $2.01 | ||
| Q2 25 | $2.05 | $1.10 | ||
| Q1 25 | $1.69 | $2.14 | ||
| Q4 24 | $1.97 | $1.41 | ||
| Q3 24 | $2.34 | $2.30 | ||
| Q2 24 | $2.07 | $1.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $578.6M | $208.0M |
| Total DebtLower is stronger | $1.0B | $23.8B |
| Stockholders' EquityBook value | $2.6B | $12.3B |
| Total Assets | $16.5B | $54.1B |
| Debt / EquityLower = less leverage | 0.39× | 1.93× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $578.6M | — | ||
| Q4 25 | $618.7M | $208.0M | ||
| Q3 25 | $452.9M | $34.0M | ||
| Q2 25 | $481.0M | $32.0M | ||
| Q1 25 | $688.1M | $33.0M | ||
| Q4 24 | $717.7M | $24.0M | ||
| Q3 24 | $1.2B | $969.0M | ||
| Q2 24 | $665.3M | $20.0M |
| Q1 26 | $1.0B | — | ||
| Q4 25 | — | $23.8B | ||
| Q3 25 | — | $24.5B | ||
| Q2 25 | — | $22.9B | ||
| Q1 25 | — | $21.8B | ||
| Q4 24 | — | $20.7B | ||
| Q3 24 | — | $20.5B | ||
| Q2 24 | — | $19.3B |
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $12.3B | ||
| Q3 25 | $2.5B | $12.2B | ||
| Q2 25 | $2.5B | $11.7B | ||
| Q1 25 | $2.3B | $11.9B | ||
| Q4 24 | $2.4B | $11.7B | ||
| Q3 24 | $2.3B | $11.6B | ||
| Q2 24 | $2.2B | $11.1B |
| Q1 26 | $16.5B | — | ||
| Q4 25 | $16.0B | $54.1B | ||
| Q3 25 | $15.2B | $52.0B | ||
| Q2 25 | $15.3B | $50.2B | ||
| Q1 25 | $15.0B | $49.6B | ||
| Q4 24 | $14.7B | $48.8B | ||
| Q3 24 | $14.4B | $49.8B | ||
| Q2 24 | $13.6B | $47.8B |
| Q1 26 | 0.39× | — | ||
| Q4 25 | — | 1.93× | ||
| Q3 25 | — | 2.01× | ||
| Q2 25 | — | 1.96× | ||
| Q1 25 | — | 1.83× | ||
| Q4 24 | — | 1.77× | ||
| Q3 24 | — | 1.76× | ||
| Q2 24 | — | 1.74× |
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 | $274.8M | $1.0B |
| Free Cash FlowOCF − Capex | $248.4M | — |
| FCF MarginFCF / Revenue | 4.4% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | 1.17× | 2.84× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $274.8M | — | ||
| Q4 25 | $433.8M | $1.0B | ||
| Q3 25 | $328.3M | $632.0M | ||
| Q2 25 | $155.9M | $709.0M | ||
| Q1 25 | $287.2M | $1.0B | ||
| Q4 24 | $345.3M | $1.1B | ||
| Q3 24 | $342.1M | $758.0M | ||
| Q2 24 | $149.9M | $759.0M |
| Q1 26 | $248.4M | — | ||
| Q4 25 | $395.9M | — | ||
| Q3 25 | $298.5M | — | ||
| Q2 25 | $133.4M | — | ||
| Q1 25 | $260.3M | — | ||
| Q4 24 | $316.7M | — | ||
| Q3 24 | $308.5M | — | ||
| Q2 24 | $119.0M | — |
| Q1 26 | 4.4% | — | ||
| Q4 25 | 7.2% | — | ||
| Q3 25 | 5.2% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 2.2% | — |
| Q1 26 | 0.5% | — | ||
| Q4 25 | 0.7% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 0.6% | — |
| Q1 26 | 1.17× | — | ||
| Q4 25 | — | 2.84× | ||
| Q3 25 | 1.13× | 1.51× | ||
| Q2 25 | 0.57× | 3.10× | ||
| Q1 25 | 1.28× | 2.29× | ||
| Q4 24 | — | 3.71× | ||
| Q3 24 | 1.08× | 1.59× | ||
| Q2 24 | 0.53× | 2.36× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
| Corporate | $2.4B | 42% |
| Other | $802.5M | 14% |
| Healthcare | $766.7M | 13% |
| Education | $675.0M | 12% |
| Government | $632.9M | 11% |
| Financial Services | $428.4M | 8% |
DTE
| Electric Segment | $1.8B | 40% |
| Residential | $723.0M | 16% |
| Gas Segment | $651.0M | 15% |
| Commercial | $524.0M | 12% |
| Other | $333.0M | 8% |
| DTE Vantage Segment | $176.0M | 4% |
| Industrial | $159.0M | 4% |
| End User Transportation | $69.0M | 2% |
| Intermediate Transportation | $25.0M | 1% |
