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Side-by-side financial comparison of CDW Corporation (CDW) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
Union Pacific Corporation is the larger business by last-quarter revenue ($6.2B vs $5.5B, roughly 1.1× CDW Corporation). On growth, CDW Corporation posted the faster year-over-year revenue change (6.3% vs 3.2%). Union Pacific Corporation produced more free cash flow last quarter ($631.0M vs $395.9M). Over the past eight quarters, CDW Corporation's revenue compounded faster (6.3% CAGR vs 1.7%).
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.
The Union Pacific Railroad Company is a Class I freight-hauling railroad that operates 8,300 locomotives over 32,200 miles (51,800 km) routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second-largest railroad in the United States after BNSF.
CDW vs UNP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $6.2B |
| Net Profit | — | $1.7B |
| Gross Margin | 22.8% | — |
| Operating Margin | 7.8% | 39.5% |
| Net Margin | — | 27.4% |
| Revenue YoY | 6.3% | 3.2% |
| Net Profit YoY | — | -2.1% |
| EPS (diluted) | $2.13 | $2.87 |
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 | — | $6.2B | ||
| Q4 25 | $5.5B | $6.1B | ||
| Q3 25 | $5.7B | $6.2B | ||
| Q2 25 | $6.0B | $6.2B | ||
| Q1 25 | $5.2B | $6.0B | ||
| Q4 24 | $5.2B | $6.1B | ||
| Q3 24 | $5.5B | $6.1B | ||
| Q2 24 | $5.4B | $6.0B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $291.0M | $1.8B | ||
| Q2 25 | $271.2M | $1.9B | ||
| Q1 25 | $224.9M | $1.6B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $316.4M | $1.7B | ||
| Q2 24 | $281.1M | $1.7B |
| 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 | — | 39.5% | ||
| Q4 25 | 7.8% | 39.5% | ||
| Q3 25 | 7.7% | 40.8% | ||
| Q2 25 | 7.0% | 41.0% | ||
| Q1 25 | 7.0% | 39.3% | ||
| Q4 24 | 7.9% | 41.3% | ||
| Q3 24 | 8.7% | 39.7% | ||
| Q2 24 | 8.0% | 40.0% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | — | 30.4% | ||
| Q3 25 | 5.1% | 28.6% | ||
| Q2 25 | 4.5% | 30.5% | ||
| Q1 25 | 4.3% | 27.0% | ||
| Q4 24 | — | 28.8% | ||
| Q3 24 | 5.7% | 27.4% | ||
| Q2 24 | 5.2% | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | $2.13 | $3.12 | ||
| Q3 25 | $2.21 | $3.01 | ||
| Q2 25 | $2.05 | $3.15 | ||
| Q1 25 | $1.69 | $2.70 | ||
| Q4 24 | $1.97 | $2.91 | ||
| Q3 24 | $2.34 | $2.75 | ||
| Q2 24 | $2.07 | $2.74 |
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 | $735.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | — |
| Total Assets | $16.0B | $69.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | $618.7M | $1.3B | ||
| Q3 25 | $452.9M | $808.0M | ||
| Q2 25 | $481.0M | $1.1B | ||
| Q1 25 | $688.1M | $1.4B | ||
| Q4 24 | $717.7M | $1.0B | ||
| Q3 24 | $1.2B | $947.0M | ||
| Q2 24 | $665.3M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | $30.3B | ||
| Q3 25 | — | $30.3B | ||
| Q2 25 | — | $30.3B | ||
| Q1 25 | — | $30.6B | ||
| Q4 24 | — | $29.8B | ||
| Q3 24 | — | $29.8B | ||
| Q2 24 | — | $31.2B |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $18.5B | ||
| Q3 25 | $2.5B | $17.3B | ||
| Q2 25 | $2.5B | $16.3B | ||
| Q1 25 | $2.3B | $16.0B | ||
| Q4 24 | $2.4B | $16.9B | ||
| Q3 24 | $2.3B | $16.6B | ||
| Q2 24 | $2.2B | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $16.0B | $69.7B | ||
| Q3 25 | $15.2B | $68.6B | ||
| Q2 25 | $15.3B | $68.6B | ||
| Q1 25 | $15.0B | $68.5B | ||
| Q4 24 | $14.7B | $67.7B | ||
| Q3 24 | $14.4B | $67.6B | ||
| Q2 24 | $13.6B | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.64× | ||
| Q3 25 | — | 1.75× | ||
| Q2 25 | — | 1.86× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | — | 1.76× | ||
| Q3 24 | — | 1.79× | ||
| Q2 24 | — | 1.89× |
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 | $631.0M |
| FCF MarginFCF / Revenue | 7.2% | 10.1% |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $433.8M | $2.2B | ||
| Q3 25 | $328.3M | $2.5B | ||
| Q2 25 | $155.9M | $2.3B | ||
| Q1 25 | $287.2M | $2.2B | ||
| Q4 24 | $345.3M | $2.7B | ||
| Q3 24 | $342.1M | $2.7B | ||
| Q2 24 | $149.9M | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | $395.9M | $1.2B | ||
| Q3 25 | $298.5M | $1.6B | ||
| Q2 25 | $133.4M | $1.4B | ||
| Q1 25 | $260.3M | $1.3B | ||
| Q4 24 | $316.7M | $1.7B | ||
| Q3 24 | $308.5M | $1.8B | ||
| Q2 24 | $119.0M | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | 7.2% | 20.1% | ||
| Q3 25 | 5.2% | 25.2% | ||
| Q2 25 | 2.2% | 22.7% | ||
| Q1 25 | 5.0% | 21.6% | ||
| Q4 24 | 6.1% | 28.4% | ||
| Q3 24 | 5.6% | 29.9% | ||
| Q2 24 | 2.2% | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 16.4% | ||
| Q3 25 | 0.5% | 15.2% | ||
| Q2 25 | 0.4% | 15.2% | ||
| Q1 25 | 0.5% | 15.0% | ||
| Q4 24 | 0.6% | 15.1% | ||
| Q3 24 | 0.6% | 13.6% | ||
| Q2 24 | 0.6% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.20× | ||
| Q3 25 | 1.13× | 1.41× | ||
| Q2 25 | 0.57× | 1.24× | ||
| Q1 25 | 1.28× | 1.36× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | 1.08× | 1.59× | ||
| Q2 24 | 0.53× | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
Segment breakdown not available.
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
