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Side-by-side financial comparison of CDW Corporation (CDW) and TE Connectivity (TEL). Click either name above to swap in a different company.
CDW Corporation is the larger business by last-quarter revenue ($5.5B vs $4.7B, roughly 1.2× TE Connectivity). On growth, TE Connectivity posted the faster year-over-year revenue change (21.7% vs 6.3%). TE Connectivity produced more free cash flow last quarter ($607.0M vs $395.9M). Over the past eight quarters, TE Connectivity's revenue compounded faster (8.5% 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.
TE Connectivity plc is an American-Irish domiciled technology company that designs and manufactures electrical and electronic components. It serves several industries, including automotive, aerospace, defense, medical, and energy.
CDW vs TEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $4.7B |
| Net Profit | — | $750.0M |
| Gross Margin | 22.8% | 37.2% |
| Operating Margin | 7.8% | 20.6% |
| Net Margin | — | 16.1% |
| Revenue YoY | 6.3% | 21.7% |
| Net Profit YoY | — | 42.0% |
| EPS (diluted) | $2.13 | $2.53 |
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 | $4.7B | ||
| Q3 25 | $5.7B | $4.7B | ||
| Q2 25 | $6.0B | $4.5B | ||
| Q1 25 | $5.2B | $4.1B | ||
| Q4 24 | $5.2B | $3.8B | ||
| Q3 24 | $5.5B | $4.1B | ||
| Q2 24 | $5.4B | $4.0B | ||
| Q1 24 | $4.9B | $4.0B |
| Q4 25 | — | $750.0M | ||
| Q3 25 | $291.0M | $663.0M | ||
| Q2 25 | $271.2M | $638.0M | ||
| Q1 25 | $224.9M | $13.0M | ||
| Q4 24 | — | $528.0M | ||
| Q3 24 | $316.4M | $276.0M | ||
| Q2 24 | $281.1M | $573.0M | ||
| Q1 24 | $216.1M | $541.0M |
| Q4 25 | 22.8% | 37.2% | ||
| Q3 25 | 21.9% | 35.0% | ||
| Q2 25 | 20.8% | 35.3% | ||
| Q1 25 | 21.6% | 35.2% | ||
| Q4 24 | 22.3% | 35.5% | ||
| Q3 24 | 21.8% | 34.0% | ||
| Q2 24 | 21.8% | 34.8% | ||
| Q1 24 | 21.8% | 34.4% |
| Q4 25 | 7.8% | 20.6% | ||
| Q3 25 | 7.7% | 19.3% | ||
| Q2 25 | 7.0% | 18.9% | ||
| Q1 25 | 7.0% | 18.1% | ||
| Q4 24 | 7.9% | 18.0% | ||
| Q3 24 | 8.7% | 16.0% | ||
| Q2 24 | 8.0% | 19.0% | ||
| Q1 24 | 6.7% | 17.4% |
| Q4 25 | — | 16.1% | ||
| Q3 25 | 5.1% | 14.0% | ||
| Q2 25 | 4.5% | 14.1% | ||
| Q1 25 | 4.3% | 0.3% | ||
| Q4 24 | — | 13.8% | ||
| Q3 24 | 5.7% | 6.8% | ||
| Q2 24 | 5.2% | 14.4% | ||
| Q1 24 | 4.4% | 13.6% |
| Q4 25 | $2.13 | $2.53 | ||
| Q3 25 | $2.21 | $2.23 | ||
| Q2 25 | $2.05 | $2.14 | ||
| Q1 25 | $1.69 | $0.04 | ||
| Q4 24 | $1.97 | $1.75 | ||
| Q3 24 | $2.34 | $0.96 | ||
| Q2 24 | $2.07 | $1.86 | ||
| Q1 24 | $1.59 | $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 | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $13.0B |
| Total Assets | $16.0B | $25.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $618.7M | $1.3B | ||
| Q3 25 | $452.9M | $1.3B | ||
| Q2 25 | $481.0M | $672.0M | ||
| Q1 25 | $688.1M | $2.6B | ||
| Q4 24 | $717.7M | $1.3B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $665.3M | $1.5B | ||
| Q1 24 | $803.8M | $1.2B |
| Q4 25 | $2.6B | $13.0B | ||
| Q3 25 | $2.5B | $12.6B | ||
| Q2 25 | $2.5B | $12.4B | ||
| Q1 25 | $2.3B | $12.1B | ||
| Q4 24 | $2.4B | $12.4B | ||
| Q3 24 | $2.3B | $12.4B | ||
| Q2 24 | $2.2B | $12.6B | ||
| Q1 24 | $2.1B | $12.4B |
| Q4 25 | $16.0B | $25.6B | ||
| Q3 25 | $15.2B | $25.1B | ||
| Q2 25 | $15.3B | $24.9B | ||
| Q1 25 | $15.0B | $23.7B | ||
| Q4 24 | $14.7B | $22.4B | ||
| Q3 24 | $14.4B | $22.9B | ||
| Q2 24 | $13.6B | $22.9B | ||
| Q1 24 | $13.2B | $22.8B |
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 | $865.0M |
| Free Cash FlowOCF − Capex | $395.9M | $607.0M |
| FCF MarginFCF / Revenue | 7.2% | 13.0% |
| Capex IntensityCapex / Revenue | 0.7% | 5.5% |
| Cash ConversionOCF / Net Profit | — | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $3.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $433.8M | $865.0M | ||
| Q3 25 | $328.3M | $1.4B | ||
| Q2 25 | $155.9M | $1.2B | ||
| Q1 25 | $287.2M | $653.0M | ||
| Q4 24 | $345.3M | $878.0M | ||
| Q3 24 | $342.1M | $1.0B | ||
| Q2 24 | $149.9M | $1.0B | ||
| Q1 24 | $440.0M | $710.0M |
| Q4 25 | $395.9M | $607.0M | ||
| Q3 25 | $298.5M | $1.1B | ||
| Q2 25 | $133.4M | $957.0M | ||
| Q1 25 | $260.3M | $423.0M | ||
| Q4 24 | $316.7M | $673.0M | ||
| Q3 24 | $308.5M | $829.0M | ||
| Q2 24 | $119.0M | $857.0M | ||
| Q1 24 | $410.5M | $543.0M |
| Q4 25 | 7.2% | 13.0% | ||
| Q3 25 | 5.2% | 24.2% | ||
| Q2 25 | 2.2% | 21.1% | ||
| Q1 25 | 5.0% | 10.2% | ||
| Q4 24 | 6.1% | 17.5% | ||
| Q3 24 | 5.6% | 20.4% | ||
| Q2 24 | 2.2% | 21.5% | ||
| Q1 24 | 8.4% | 13.7% |
| Q4 25 | 0.7% | 5.5% | ||
| Q3 25 | 0.5% | 5.7% | ||
| Q2 25 | 0.4% | 5.1% | ||
| Q1 25 | 0.5% | 5.6% | ||
| Q4 24 | 0.6% | 5.3% | ||
| Q3 24 | 0.6% | 5.2% | ||
| Q2 24 | 0.6% | 3.7% | ||
| Q1 24 | 0.6% | 4.2% |
| Q4 25 | — | 1.15× | ||
| Q3 25 | 1.13× | 2.14× | ||
| Q2 25 | 0.57× | 1.86× | ||
| Q1 25 | 1.28× | 50.23× | ||
| Q4 24 | — | 1.66× | ||
| Q3 24 | 1.08× | 3.78× | ||
| Q2 24 | 0.53× | 1.76× | ||
| Q1 24 | 2.04× | 1.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
Segment breakdown not available.
TEL
| Automotive Industry End Market | $1.9B | 40% |
| Digital Data Networks | $707.0M | 15% |
| Automation And Connected Living Industry End Market | $549.0M | 12% |
| Energy Industry End Market | $406.0M | 9% |
| Aerospace Defense And Marine Industry End Market | $381.0M | 8% |
| Commercial Transportation Industry End Market | $370.0M | 8% |
| Sensors Industry End Market | $212.0M | 5% |
| Medical Industry End Market | $159.0M | 3% |
