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Side-by-side financial comparison of CDW Corporation (CDW) and Molson Coors Beverage Company (TAP). Click either name above to swap in a different company.
CDW Corporation is the larger business by last-quarter revenue ($5.5B vs $3.1B, roughly 1.8× Molson Coors Beverage Company). On growth, CDW Corporation posted the faster year-over-year revenue change (6.3% vs 6.1%). Molson Coors Beverage Company produced more free cash flow last quarter ($1.1B vs $395.9M). Over the past eight quarters, CDW Corporation's revenue compounded faster (6.3% CAGR vs -9.8%).
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.
Molson Coors Beverage Company is a Canadian-American multinational drink and brewing company headquartered in Chicago, Illinois and Montreal, Quebec.
CDW vs TAP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $3.1B |
| Net Profit | — | $209.3M |
| Gross Margin | 22.8% | 31.0% |
| Operating Margin | 7.8% | — |
| Net Margin | — | 6.7% |
| Revenue YoY | 6.3% | 6.1% |
| Net Profit YoY | — | -28.7% |
| EPS (diluted) | $2.13 | $1.22 |
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 | — | $3.1B | ||
| Q4 25 | $5.5B | $3.1B | ||
| Q3 25 | $5.7B | $3.5B | ||
| Q2 25 | $6.0B | $3.7B | ||
| Q1 25 | $5.2B | $2.7B | ||
| Q4 24 | $5.2B | $3.2B | ||
| Q3 24 | $5.5B | $3.6B | ||
| Q2 24 | $5.4B | $3.8B |
| Q1 26 | — | $209.3M | ||
| Q4 25 | — | $238.3M | ||
| Q3 25 | $291.0M | $-2.9B | ||
| Q2 25 | $271.2M | $428.7M | ||
| Q1 25 | $224.9M | $121.0M | ||
| Q4 24 | — | $287.8M | ||
| Q3 24 | $316.4M | $199.8M | ||
| Q2 24 | $281.1M | $427.0M |
| Q1 26 | — | 31.0% | ||
| Q4 25 | 22.8% | 31.0% | ||
| Q3 25 | 21.9% | 33.7% | ||
| Q2 25 | 20.8% | 34.3% | ||
| Q1 25 | 21.6% | 31.6% | ||
| Q4 24 | 22.3% | 32.0% | ||
| Q3 24 | 21.8% | 33.4% | ||
| Q2 24 | 21.8% | 34.6% |
| Q1 26 | — | — | ||
| Q4 25 | 7.8% | 10.4% | ||
| Q3 25 | 7.7% | -98.5% | ||
| Q2 25 | 7.0% | 15.6% | ||
| Q1 25 | 7.0% | 6.9% | ||
| Q4 24 | 7.9% | 12.0% | ||
| Q3 24 | 8.7% | 12.5% | ||
| Q2 24 | 8.0% | 15.6% |
| Q1 26 | — | 6.7% | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | 5.1% | -84.0% | ||
| Q2 25 | 4.5% | 11.5% | ||
| Q1 25 | 4.3% | 4.5% | ||
| Q4 24 | — | 8.9% | ||
| Q3 24 | 5.7% | 5.5% | ||
| Q2 24 | 5.2% | 11.1% |
| Q1 26 | — | $1.22 | ||
| Q4 25 | $2.13 | $1.32 | ||
| Q3 25 | $2.21 | $-14.79 | ||
| Q2 25 | $2.05 | $2.13 | ||
| Q1 25 | $1.69 | $0.59 | ||
| Q4 24 | $1.97 | $1.39 | ||
| Q3 24 | $2.34 | $0.96 | ||
| Q2 24 | $2.07 | $2.03 |
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 | $896.5M |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | $2.6B | $10.4B |
| Total Assets | $16.0B | $22.7B |
| Debt / EquityLower = less leverage | — | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $896.5M | ||
| Q4 25 | $618.7M | $896.5M | ||
| Q3 25 | $452.9M | $950.2M | ||
| Q2 25 | $481.0M | $613.8M | ||
| Q1 25 | $688.1M | $412.7M | ||
| Q4 24 | $717.7M | $969.3M | ||
| Q3 24 | $1.2B | $1.0B | ||
| Q2 24 | $665.3M | $1.6B |
| Q1 26 | — | $3.9B | ||
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $6.3B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.2B | ||
| Q2 24 | — | $7.0B |
| Q1 26 | — | $10.4B | ||
| Q4 25 | $2.6B | $10.2B | ||
| Q3 25 | $2.5B | $10.3B | ||
| Q2 25 | $2.5B | $13.4B | ||
| Q1 25 | $2.3B | $13.1B | ||
| Q4 24 | $2.4B | $13.1B | ||
| Q3 24 | $2.3B | $13.3B | ||
| Q2 24 | $2.2B | $13.2B |
| Q1 26 | — | $22.7B | ||
| Q4 25 | $16.0B | $22.7B | ||
| Q3 25 | $15.2B | $22.9B | ||
| Q2 25 | $15.3B | $26.8B | ||
| Q1 25 | $15.0B | $25.9B | ||
| Q4 24 | $14.7B | $26.1B | ||
| Q3 24 | $14.4B | $26.6B | ||
| Q2 24 | $13.6B | $27.4B |
| Q1 26 | — | 0.37× | ||
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.53× |
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 | — |
| Free Cash FlowOCF − Capex | $395.9M | $1.1B |
| FCF MarginFCF / Revenue | 7.2% | 36.5% |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $2.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $433.8M | $540.7M | ||
| Q3 25 | $328.3M | $616.1M | ||
| Q2 25 | $155.9M | $718.3M | ||
| Q1 25 | $287.2M | $-90.7M | ||
| Q4 24 | $345.3M | $494.5M | ||
| Q3 24 | $342.1M | $521.2M | ||
| Q2 24 | $149.9M | $869.2M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $395.9M | $357.8M | ||
| Q3 25 | $298.5M | $483.0M | ||
| Q2 25 | $133.4M | $555.0M | ||
| Q1 25 | $260.3M | $-328.0M | ||
| Q4 24 | $316.7M | $383.4M | ||
| Q3 24 | $308.5M | $350.4M | ||
| Q2 24 | $119.0M | $691.7M |
| Q1 26 | — | 36.5% | ||
| Q4 25 | 7.2% | 11.4% | ||
| Q3 25 | 5.2% | 13.9% | ||
| Q2 25 | 2.2% | 14.8% | ||
| Q1 25 | 5.0% | -12.2% | ||
| Q4 24 | 6.1% | 11.8% | ||
| Q3 24 | 5.6% | 9.7% | ||
| Q2 24 | 2.2% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 5.9% | ||
| Q3 25 | 0.5% | 3.8% | ||
| Q2 25 | 0.4% | 4.4% | ||
| Q1 25 | 0.5% | 8.8% | ||
| Q4 24 | 0.6% | 3.4% | ||
| Q3 24 | 0.6% | 4.7% | ||
| Q2 24 | 0.6% | 4.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.27× | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 0.57× | 1.68× | ||
| Q1 25 | 1.28× | -0.75× | ||
| Q4 24 | — | 1.72× | ||
| Q3 24 | 1.08× | 2.61× | ||
| Q2 24 | 0.53× | 2.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
