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Side-by-side financial comparison of CDW Corporation (CDW) and Freeport-McMoRan (FCX). Click either name above to swap in a different company.
CDW Corporation is the larger business by last-quarter revenue ($5.5B vs $5.3B, roughly 1.0× Freeport-McMoRan). On growth, CDW Corporation posted the faster year-over-year revenue change (6.3% vs -10.4%). CDW Corporation produced more free cash flow last quarter ($395.9M vs $-312.0M). Over the past eight quarters, CDW Corporation's revenue compounded faster (6.3% CAGR vs -7.9%).
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.
Freeport-McMoRan Inc., often called Freeport, is an American mining company based in the Freeport-McMoRan Center, in Phoenix, Arizona. The company is the world's largest producer of molybdenum, a major copper producer and operates the world's largest gold mine, the Grasberg mine in Papua, Indonesia.
CDW vs FCX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $5.3B |
| Net Profit | — | $565.0M |
| Gross Margin | 22.8% | 12.4% |
| Operating Margin | 7.8% | 15.4% |
| Net Margin | — | 10.7% |
| Revenue YoY | 6.3% | -10.4% |
| Net Profit YoY | — | -21.6% |
| EPS (diluted) | $2.13 | — |
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 | $5.3B | ||
| Q3 25 | $5.7B | $6.8B | ||
| Q2 25 | $6.0B | $7.5B | ||
| Q1 25 | $5.2B | $5.6B | ||
| Q4 24 | $5.2B | $5.9B | ||
| Q3 24 | $5.5B | $6.7B | ||
| Q2 24 | $5.4B | $6.4B | ||
| Q1 24 | $4.9B | $6.2B |
| Q4 25 | — | $565.0M | ||
| Q3 25 | $291.0M | $1.2B | ||
| Q2 25 | $271.2M | $1.5B | ||
| Q1 25 | $224.9M | $793.0M | ||
| Q4 24 | — | $721.0M | ||
| Q3 24 | $316.4M | $1.2B | ||
| Q2 24 | $281.1M | $1.3B | ||
| Q1 24 | $216.1M | $1.2B |
| Q4 25 | 22.8% | 12.4% | ||
| Q3 25 | 21.9% | 29.2% | ||
| Q2 25 | 20.8% | 34.2% | ||
| Q1 25 | 21.6% | 24.3% | ||
| Q4 24 | 22.3% | 27.0% | ||
| Q3 24 | 21.8% | 30.0% | ||
| Q2 24 | 21.8% | 31.5% | ||
| Q1 24 | 21.8% | 28.5% |
| Q4 25 | 7.8% | 15.4% | ||
| Q3 25 | 7.7% | 28.9% | ||
| Q2 25 | 7.0% | 32.3% | ||
| Q1 25 | 7.0% | 23.4% | ||
| Q4 24 | 7.9% | 21.1% | ||
| Q3 24 | 8.7% | 29.0% | ||
| Q2 24 | 8.0% | 32.0% | ||
| Q1 24 | 6.7% | 26.3% |
| Q4 25 | — | 10.7% | ||
| Q3 25 | 5.1% | 18.3% | ||
| Q2 25 | 4.5% | 20.6% | ||
| Q1 25 | 4.3% | 14.2% | ||
| Q4 24 | — | 12.3% | ||
| Q3 24 | 5.7% | 18.5% | ||
| Q2 24 | 5.2% | 20.0% | ||
| Q1 24 | 4.4% | 18.7% |
| Q4 25 | $2.13 | — | ||
| Q3 25 | $2.21 | $0.46 | ||
| Q2 25 | $2.05 | $0.53 | ||
| Q1 25 | $1.69 | $0.24 | ||
| Q4 24 | $1.97 | — | ||
| Q3 24 | $2.34 | $0.36 | ||
| Q2 24 | $2.07 | $0.42 | ||
| Q1 24 | $1.59 | $0.32 |
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 | $3.8B |
| Total DebtLower is stronger | — | $9.4B |
| Stockholders' EquityBook value | $2.6B | $18.9B |
| Total Assets | $16.0B | $58.2B |
| Debt / EquityLower = less leverage | — | 0.50× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $618.7M | $3.8B | ||
| Q3 25 | $452.9M | $4.3B | ||
| Q2 25 | $481.0M | $4.5B | ||
| Q1 25 | $688.1M | $4.4B | ||
| Q4 24 | $717.7M | $3.9B | ||
| Q3 24 | $1.2B | $5.0B | ||
| Q2 24 | $665.3M | $5.3B | ||
| Q1 24 | $803.8M | $5.2B |
| Q4 25 | — | $9.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $9.4B | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | $9.7B | ||
| Q2 24 | — | $9.4B | ||
| Q1 24 | — | $9.4B |
| Q4 25 | $2.6B | $18.9B | ||
| Q3 25 | $2.5B | $18.7B | ||
| Q2 25 | $2.5B | $18.2B | ||
| Q1 25 | $2.3B | $17.7B | ||
| Q4 24 | $2.4B | $17.6B | ||
| Q3 24 | $2.3B | $17.5B | ||
| Q2 24 | $2.2B | $17.4B | ||
| Q1 24 | $2.1B | $17.0B |
| Q4 25 | $16.0B | $58.2B | ||
| Q3 25 | $15.2B | $56.8B | ||
| Q2 25 | $15.3B | $56.5B | ||
| Q1 25 | $15.0B | $56.0B | ||
| Q4 24 | $14.7B | $54.8B | ||
| Q3 24 | $14.4B | $55.4B | ||
| Q2 24 | $13.6B | $54.6B | ||
| Q1 24 | $13.2B | $54.2B |
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.55× | ||
| Q2 24 | — | 0.54× | ||
| Q1 24 | — | 0.56× |
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 | $693.0M |
| Free Cash FlowOCF − Capex | $395.9M | $-312.0M |
| FCF MarginFCF / Revenue | 7.2% | -5.9% |
| Capex IntensityCapex / Revenue | 0.7% | 19.1% |
| Cash ConversionOCF / Net Profit | — | 1.23× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $433.8M | $693.0M | ||
| Q3 25 | $328.3M | $1.7B | ||
| Q2 25 | $155.9M | $2.2B | ||
| Q1 25 | $287.2M | $1.1B | ||
| Q4 24 | $345.3M | $1.4B | ||
| Q3 24 | $342.1M | $1.9B | ||
| Q2 24 | $149.9M | $2.0B | ||
| Q1 24 | $440.0M | $1.9B |
| Q4 25 | $395.9M | $-312.0M | ||
| Q3 25 | $298.5M | $608.0M | ||
| Q2 25 | $133.4M | $934.0M | ||
| Q1 25 | $260.3M | $-114.0M | ||
| Q4 24 | $316.7M | $197.0M | ||
| Q3 24 | $308.5M | $673.0M | ||
| Q2 24 | $119.0M | $840.0M | ||
| Q1 24 | $410.5M | $642.0M |
| Q4 25 | 7.2% | -5.9% | ||
| Q3 25 | 5.2% | 8.9% | ||
| Q2 25 | 2.2% | 12.4% | ||
| Q1 25 | 5.0% | -2.0% | ||
| Q4 24 | 6.1% | 3.4% | ||
| Q3 24 | 5.6% | 10.1% | ||
| Q2 24 | 2.2% | 13.1% | ||
| Q1 24 | 8.4% | 10.3% |
| Q4 25 | 0.7% | 19.1% | ||
| Q3 25 | 0.5% | 15.5% | ||
| Q2 25 | 0.4% | 16.8% | ||
| Q1 25 | 0.5% | 21.0% | ||
| Q4 24 | 0.6% | 21.1% | ||
| Q3 24 | 0.6% | 17.9% | ||
| Q2 24 | 0.6% | 17.4% | ||
| Q1 24 | 0.6% | 20.2% |
| Q4 25 | — | 1.23× | ||
| Q3 25 | 1.13× | 1.33× | ||
| Q2 25 | 0.57× | 1.42× | ||
| Q1 25 | 1.28× | 1.33× | ||
| Q4 24 | — | 1.99× | ||
| Q3 24 | 1.08× | 1.51× | ||
| Q2 24 | 0.53× | 1.53× | ||
| Q1 24 | 2.04× | 1.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
Segment breakdown not available.
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
