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Side-by-side financial comparison of CDW Corporation (CDW) and Molina Healthcare (MOH). Click either name above to swap in a different company.
Molina Healthcare is the larger business by last-quarter revenue ($10.8B vs $5.5B, roughly 2.0× CDW Corporation). On growth, CDW Corporation posted the faster year-over-year revenue change (6.3% vs -3.1%). Over the past eight quarters, CDW Corporation's revenue compounded faster (6.3% CAGR vs 4.5%).
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.
Molina Healthcare, Inc. is a managed care company headquartered in Long Beach, California, United States. The company provides health insurance to individuals through government programs such as Medicaid and Medicare.
CDW vs MOH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $10.8B |
| Net Profit | — | $14.0M |
| Gross Margin | 22.8% | — |
| Operating Margin | 7.8% | 0.8% |
| Net Margin | — | 0.1% |
| Revenue YoY | 6.3% | -3.1% |
| Net Profit YoY | — | -64.0% |
| EPS (diluted) | $2.13 | $0.27 |
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 | — | $10.8B | ||
| Q4 25 | $5.5B | $11.4B | ||
| Q3 25 | $5.7B | $11.5B | ||
| Q2 25 | $6.0B | $11.4B | ||
| Q1 25 | $5.2B | $11.1B | ||
| Q4 24 | $5.2B | $10.5B | ||
| Q3 24 | $5.5B | $10.3B | ||
| Q2 24 | $5.4B | $9.9B |
| Q1 26 | — | $14.0M | ||
| Q4 25 | — | $-160.0M | ||
| Q3 25 | $291.0M | $79.0M | ||
| Q2 25 | $271.2M | $255.0M | ||
| Q1 25 | $224.9M | $298.0M | ||
| Q4 24 | — | $251.0M | ||
| Q3 24 | $316.4M | $326.0M | ||
| Q2 24 | $281.1M | $301.0M |
| Q1 26 | — | — | ||
| Q4 25 | 22.8% | 10.9% | ||
| Q3 25 | 21.9% | 12.5% | ||
| Q2 25 | 20.8% | 14.0% | ||
| Q1 25 | 21.6% | 15.0% | ||
| Q4 24 | 22.3% | 14.2% | ||
| Q3 24 | 21.8% | 16.4% | ||
| Q2 24 | 21.8% | 15.3% |
| Q1 26 | — | 0.8% | ||
| Q4 25 | 7.8% | -1.4% | ||
| Q3 25 | 7.7% | 1.2% | ||
| Q2 25 | 7.0% | 3.3% | ||
| Q1 25 | 7.0% | 3.9% | ||
| Q4 24 | 7.9% | 3.6% | ||
| Q3 24 | 8.7% | 4.5% | ||
| Q2 24 | 8.0% | 4.4% |
| Q1 26 | — | 0.1% | ||
| Q4 25 | — | -1.4% | ||
| Q3 25 | 5.1% | 0.7% | ||
| Q2 25 | 4.5% | 2.2% | ||
| Q1 25 | 4.3% | 2.7% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | 5.7% | 3.2% | ||
| Q2 24 | 5.2% | 3.0% |
| Q1 26 | — | $0.27 | ||
| Q4 25 | $2.13 | $-2.79 | ||
| Q3 25 | $2.21 | $1.51 | ||
| Q2 25 | $2.05 | $4.75 | ||
| Q1 25 | $1.69 | $5.45 | ||
| Q4 24 | $1.97 | $4.43 | ||
| Q3 24 | $2.34 | $5.65 | ||
| Q2 24 | $2.07 | $5.17 |
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 | $5.3B |
| Total DebtLower is stronger | — | $3.8B |
| Stockholders' EquityBook value | $2.6B | $4.1B |
| Total Assets | $16.0B | $16.4B |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.3B | ||
| Q4 25 | $618.7M | $8.3B | ||
| Q3 25 | $452.9M | $8.4B | ||
| Q2 25 | $481.0M | $8.8B | ||
| Q1 25 | $688.1M | $9.3B | ||
| Q4 24 | $717.7M | $9.0B | ||
| Q3 24 | $1.2B | $9.2B | ||
| Q2 24 | $665.3M | $8.7B |
| Q1 26 | — | $3.8B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $4.1B | ||
| Q4 25 | $2.6B | $4.1B | ||
| Q3 25 | $2.5B | $4.2B | ||
| Q2 25 | $2.5B | $4.6B | ||
| Q1 25 | $2.3B | $4.3B | ||
| Q4 24 | $2.4B | $4.5B | ||
| Q3 24 | $2.3B | $4.8B | ||
| Q2 24 | $2.2B | $4.8B |
| Q1 26 | — | $16.4B | ||
| Q4 25 | $16.0B | $15.6B | ||
| Q3 25 | $15.2B | $15.7B | ||
| Q2 25 | $15.3B | $16.2B | ||
| Q1 25 | $15.0B | $16.4B | ||
| Q4 24 | $14.7B | $15.6B | ||
| Q3 24 | $14.4B | $15.8B | ||
| Q2 24 | $13.6B | $15.2B |
| Q1 26 | — | 0.92× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $395.9M | — |
| FCF MarginFCF / Revenue | 7.2% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | — | 77.29× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.1B | ||
| Q4 25 | $433.8M | $-298.0M | ||
| Q3 25 | $328.3M | $-125.0M | ||
| Q2 25 | $155.9M | $-302.0M | ||
| Q1 25 | $287.2M | $190.0M | ||
| Q4 24 | $345.3M | $-224.0M | ||
| Q3 24 | $342.1M | $873.0M | ||
| Q2 24 | $149.9M | $-219.0M |
| Q1 26 | — | — | ||
| Q4 25 | $395.9M | $-299.0M | ||
| Q3 25 | $298.5M | $-163.0M | ||
| Q2 25 | $133.4M | $-344.0M | ||
| Q1 25 | $260.3M | $168.0M | ||
| Q4 24 | $316.7M | $-235.0M | ||
| Q3 24 | $308.5M | $838.0M | ||
| Q2 24 | $119.0M | $-246.0M |
| Q1 26 | — | — | ||
| Q4 25 | 7.2% | -2.6% | ||
| Q3 25 | 5.2% | -1.4% | ||
| Q2 25 | 2.2% | -3.0% | ||
| Q1 25 | 5.0% | 1.5% | ||
| Q4 24 | 6.1% | -2.2% | ||
| Q3 24 | 5.6% | 8.1% | ||
| Q2 24 | 2.2% | -2.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 0.0% | ||
| Q3 25 | 0.5% | 0.3% | ||
| Q2 25 | 0.4% | 0.4% | ||
| Q1 25 | 0.5% | 0.2% | ||
| Q4 24 | 0.6% | 0.1% | ||
| Q3 24 | 0.6% | 0.3% | ||
| Q2 24 | 0.6% | 0.3% |
| Q1 26 | — | 77.29× | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.13× | -1.58× | ||
| Q2 25 | 0.57× | -1.18× | ||
| Q1 25 | 1.28× | 0.64× | ||
| Q4 24 | — | -0.89× | ||
| Q3 24 | 1.08× | 2.68× | ||
| Q2 24 | 0.53× | -0.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
Segment breakdown not available.
MOH
| Premium revenue | $10.2B | 94% |
| Premium tax revenue | $504.0M | 5% |
| Investment income | $98.0M | 1% |
| Other revenue | $22.0M | 0% |
