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Side-by-side financial comparison of CDW Corporation (CDW) and Fidelity National Information Services (FIS). 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× Fidelity National Information Services). On growth, Fidelity National Information Services posted the faster year-over-year revenue change (8.1% vs 6.3%). Fidelity National Information Services produced more free cash flow last quarter ($739.0M vs $395.9M). Over the past eight quarters, Fidelity National Information Services's revenue compounded faster (6.8% 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.
Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech. Annually, FIS facilitates the movement of roughly US$9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.
CDW vs FIS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $2.8B |
| Net Profit | — | $511.0M |
| Gross Margin | 22.8% | 38.3% |
| Operating Margin | 7.8% | 18.8% |
| Net Margin | — | 18.2% |
| Revenue YoY | 6.3% | 8.1% |
| Net Profit YoY | — | 97.3% |
| EPS (diluted) | $2.13 | $0.98 |
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 | $2.6B | ||
| Q1 25 | $5.2B | $2.5B | ||
| Q4 24 | $5.2B | $2.6B | ||
| Q3 24 | $5.5B | $2.6B | ||
| Q2 24 | $5.4B | $2.5B | ||
| Q1 24 | $4.9B | $2.5B |
| Q4 25 | — | $511.0M | ||
| Q3 25 | $291.0M | $264.0M | ||
| Q2 25 | $271.2M | $-470.0M | ||
| Q1 25 | $224.9M | $77.0M | ||
| Q4 24 | — | $259.0M | ||
| Q3 24 | $316.4M | $224.0M | ||
| Q2 24 | $281.1M | $243.0M | ||
| Q1 24 | $216.1M | $724.0M |
| Q4 25 | 22.8% | 38.3% | ||
| Q3 25 | 21.9% | 37.8% | ||
| Q2 25 | 20.8% | 36.4% | ||
| Q1 25 | 21.6% | 34.7% | ||
| Q4 24 | 22.3% | 36.9% | ||
| Q3 24 | 21.8% | 38.0% | ||
| Q2 24 | 21.8% | 38.2% | ||
| Q1 24 | 21.8% | 37.1% |
| Q4 25 | 7.8% | 18.8% | ||
| Q3 25 | 7.7% | 16.8% | ||
| Q2 25 | 7.0% | 15.6% | ||
| Q1 25 | 7.0% | 13.7% | ||
| Q4 24 | 7.9% | 18.5% | ||
| Q3 24 | 8.7% | 19.1% | ||
| Q2 24 | 8.0% | 15.2% | ||
| Q1 24 | 6.7% | 14.6% |
| Q4 25 | — | 18.2% | ||
| Q3 25 | 5.1% | 9.7% | ||
| Q2 25 | 4.5% | -18.0% | ||
| Q1 25 | 4.3% | 3.0% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | 5.7% | 8.7% | ||
| Q2 24 | 5.2% | 9.8% | ||
| Q1 24 | 4.4% | 29.3% |
| Q4 25 | $2.13 | $0.98 | ||
| Q3 25 | $2.21 | $0.50 | ||
| Q2 25 | $2.05 | $-0.90 | ||
| Q1 25 | $1.69 | $0.15 | ||
| Q4 24 | $1.97 | $0.51 | ||
| Q3 24 | $2.34 | $0.41 | ||
| Q2 24 | $2.07 | $0.44 | ||
| Q1 24 | $1.59 | $1.25 |
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 | $599.0M |
| Total DebtLower is stronger | — | $9.1B |
| Stockholders' EquityBook value | $2.6B | $13.9B |
| Total Assets | $16.0B | $33.5B |
| Debt / EquityLower = less leverage | — | 0.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $618.7M | $599.0M | ||
| Q3 25 | $452.9M | $571.0M | ||
| Q2 25 | $481.0M | $581.0M | ||
| Q1 25 | $688.1M | $805.0M | ||
| Q4 24 | $717.7M | $834.0M | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $665.3M | $2.1B | ||
| Q1 24 | $803.8M | $3.3B |
| Q4 25 | — | $9.1B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.9B | ||
| Q1 25 | — | $8.7B | ||
| Q4 24 | — | $9.7B | ||
| Q3 24 | — | $10.5B | ||
| Q2 24 | — | $10.6B | ||
| Q1 24 | — | $10.6B |
| Q4 25 | $2.6B | $13.9B | ||
| Q3 25 | $2.5B | $13.9B | ||
| Q2 25 | $2.5B | $14.2B | ||
| Q1 25 | $2.3B | $15.1B | ||
| Q4 24 | $2.4B | $15.7B | ||
| Q3 24 | $2.3B | $16.6B | ||
| Q2 24 | $2.2B | $17.0B | ||
| Q1 24 | $2.1B | $18.0B |
| Q4 25 | $16.0B | $33.5B | ||
| Q3 25 | $15.2B | $33.0B | ||
| Q2 25 | $15.3B | $33.4B | ||
| Q1 25 | $15.0B | $32.8B | ||
| Q4 24 | $14.7B | $33.8B | ||
| Q3 24 | $14.4B | $34.3B | ||
| Q2 24 | $13.6B | $34.6B | ||
| Q1 24 | $13.2B | $35.9B |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 0.64× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | 0.63× | ||
| Q2 24 | — | 0.62× | ||
| Q1 24 | — | 0.59× |
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 | $758.0M |
| Free Cash FlowOCF − Capex | $395.9M | $739.0M |
| FCF MarginFCF / Revenue | 7.2% | 26.3% |
| Capex IntensityCapex / Revenue | 0.7% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $2.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $433.8M | $758.0M | ||
| Q3 25 | $328.3M | $1.0B | ||
| Q2 25 | $155.9M | $382.0M | ||
| Q1 25 | $287.2M | $457.0M | ||
| Q4 24 | $345.3M | $782.0M | ||
| Q3 24 | $342.1M | $641.0M | ||
| Q2 24 | $149.9M | $546.0M | ||
| Q1 24 | $440.0M | $206.0M |
| Q4 25 | $395.9M | $739.0M | ||
| Q3 25 | $298.5M | $952.0M | ||
| Q2 25 | $133.4M | $343.0M | ||
| Q1 25 | $260.3M | $420.0M | ||
| Q4 24 | $316.7M | $764.0M | ||
| Q3 24 | $308.5M | $605.0M | ||
| Q2 24 | $119.0M | $530.0M | ||
| Q1 24 | $410.5M | $179.0M |
| Q4 25 | 7.2% | 26.3% | ||
| Q3 25 | 5.2% | 35.0% | ||
| Q2 25 | 2.2% | 13.1% | ||
| Q1 25 | 5.0% | 16.6% | ||
| Q4 24 | 6.1% | 29.4% | ||
| Q3 24 | 5.6% | 23.5% | ||
| Q2 24 | 2.2% | 21.3% | ||
| Q1 24 | 8.4% | 7.3% |
| Q4 25 | 0.7% | 0.7% | ||
| Q3 25 | 0.5% | 2.2% | ||
| Q2 25 | 0.4% | 1.5% | ||
| Q1 25 | 0.5% | 1.5% | ||
| Q4 24 | 0.6% | 0.7% | ||
| Q3 24 | 0.6% | 1.4% | ||
| Q2 24 | 0.6% | 0.6% | ||
| Q1 24 | 0.6% | 1.1% |
| Q4 25 | — | 1.48× | ||
| Q3 25 | 1.13× | 3.83× | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 1.28× | 5.94× | ||
| Q4 24 | — | 3.02× | ||
| Q3 24 | 1.08× | 2.86× | ||
| Q2 24 | 0.53× | 2.25× | ||
| Q1 24 | 2.04× | 0.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
Segment breakdown not available.
FIS
| Banking Solutions | $1.6B | 57% |
| Other | $701.0M | 25% |
| Capital Market Solutions | $508.0M | 18% |
