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Side-by-side financial comparison of CDW Corporation (CDW) and JONES LANG LASALLE INC (JLL). Click either name above to swap in a different company.
JONES LANG LASALLE INC is the larger business by last-quarter revenue ($6.4B vs $5.5B, roughly 1.2× CDW Corporation). On growth, JONES LANG LASALLE INC posted the faster year-over-year revenue change (11.1% vs 6.3%). CDW Corporation produced more free cash flow last quarter ($395.9M vs $-819.9M). Over the past eight quarters, JONES LANG LASALLE INC's revenue compounded faster (6.5% 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.
Jones Lang LaSalle Incorporated (JLL) is a global real estate services company headquartered in Chicago. The company has offices in 80 countries. It offers investment management services worldwide, including services to institutional and retail investors, and to high-net-worth individuals, as well as technology products through JLL Technologies, and venture capital investments through its PropTech fund, JLL Spark. The company is ranked 188 on the Fortune 500.
CDW vs JLL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $6.4B |
| Net Profit | — | $159.0M |
| Gross Margin | 22.8% | — |
| Operating Margin | 7.8% | 3.2% |
| Net Margin | — | 2.5% |
| Revenue YoY | 6.3% | 11.1% |
| Net Profit YoY | — | — |
| EPS (diluted) | $2.13 | $3.33 |
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 | — | $6.4B | ||
| Q4 25 | $5.5B | $7.6B | ||
| Q3 25 | $5.7B | $6.5B | ||
| Q2 25 | $6.0B | $6.3B | ||
| Q1 25 | $5.2B | $5.7B | ||
| Q4 24 | $5.2B | $6.8B | ||
| Q3 24 | $5.5B | $5.9B | ||
| Q2 24 | $5.4B | $5.6B |
| Q1 26 | — | $159.0M | ||
| Q4 25 | — | $401.8M | ||
| Q3 25 | $291.0M | $222.4M | ||
| Q2 25 | $271.2M | $110.5M | ||
| Q1 25 | $224.9M | $57.5M | ||
| Q4 24 | — | $241.2M | ||
| Q3 24 | $316.4M | $155.1M | ||
| Q2 24 | $281.1M | $84.4M |
| Q1 26 | — | — | ||
| 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 | — | 3.2% | ||
| Q4 25 | 7.8% | 6.7% | ||
| Q3 25 | 7.7% | 4.2% | ||
| Q2 25 | 7.0% | 3.2% | ||
| Q1 25 | 7.0% | 2.1% | ||
| Q4 24 | 7.9% | 5.5% | ||
| Q3 24 | 8.7% | 3.9% | ||
| Q2 24 | 8.0% | 2.7% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | — | 5.3% | ||
| Q3 25 | 5.1% | 3.4% | ||
| Q2 25 | 4.5% | 1.8% | ||
| Q1 25 | 4.3% | 1.0% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | 5.7% | 2.6% | ||
| Q2 24 | 5.2% | 1.5% |
| Q1 26 | — | $3.33 | ||
| Q4 25 | $2.13 | $8.33 | ||
| Q3 25 | $2.21 | $4.61 | ||
| Q2 25 | $2.05 | $2.32 | ||
| Q1 25 | $1.69 | $1.14 | ||
| Q4 24 | $1.97 | $4.98 | ||
| Q3 24 | $2.34 | $3.20 | ||
| Q2 24 | $2.07 | $1.75 |
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 | $436.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $7.4B |
| Total Assets | $16.0B | $17.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $436.2M | ||
| Q4 25 | $618.7M | $599.1M | ||
| Q3 25 | $452.9M | $428.9M | ||
| Q2 25 | $481.0M | $401.4M | ||
| Q1 25 | $688.1M | $432.4M | ||
| Q4 24 | $717.7M | $416.3M | ||
| Q3 24 | $1.2B | $437.8M | ||
| Q2 24 | $665.3M | $424.4M |
| Q1 26 | — | $7.4B | ||
| Q4 25 | $2.6B | $7.5B | ||
| Q3 25 | $2.5B | $7.2B | ||
| Q2 25 | $2.5B | $7.0B | ||
| Q1 25 | $2.3B | $6.8B | ||
| Q4 24 | $2.4B | $6.8B | ||
| Q3 24 | $2.3B | $6.6B | ||
| Q2 24 | $2.2B | $6.4B |
| Q1 26 | — | $17.9B | ||
| Q4 25 | $16.0B | $17.8B | ||
| Q3 25 | $15.2B | $17.2B | ||
| Q2 25 | $15.3B | $17.3B | ||
| Q1 25 | $15.0B | $16.6B | ||
| Q4 24 | $14.7B | $16.8B | ||
| Q3 24 | $14.4B | $17.8B | ||
| Q2 24 | $13.6B | $15.9B |
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 | $-17.7M |
| Free Cash FlowOCF − Capex | $395.9M | $-819.9M |
| FCF MarginFCF / Revenue | 7.2% | -12.8% |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | — | -0.11× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-17.7M | ||
| Q4 25 | $433.8M | $1.0B | ||
| Q3 25 | $328.3M | $617.1M | ||
| Q2 25 | $155.9M | $332.8M | ||
| Q1 25 | $287.2M | $-767.6M | ||
| Q4 24 | $345.3M | $927.3M | ||
| Q3 24 | $342.1M | $261.6M | ||
| Q2 24 | $149.9M | $273.9M |
| Q1 26 | — | $-819.9M | ||
| 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 | — | -12.8% | ||
| 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 | — | — | ||
| 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 | — | -0.11× | ||
| Q4 25 | — | 2.52× | ||
| Q3 25 | 1.13× | 2.77× | ||
| Q2 25 | 0.57× | 3.01× | ||
| Q1 25 | 1.28× | -13.35× | ||
| Q4 24 | — | 3.84× | ||
| Q3 24 | 1.08× | 1.69× | ||
| Q2 24 | 0.53× | 3.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
Segment breakdown not available.
JLL
| Real Estate Management Services | $5.1B | 79% |
| Leasing Advisory | $686.3M | 11% |
| Capital Markets Services | $535.2M | 8% |
| Investment Management | $99.3M | 2% |
