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Side-by-side financial comparison of CDW Corporation (CDW) and US Foods Holding Corp. (USFD). Click either name above to swap in a different company.
US Foods Holding Corp. is the larger business by last-quarter revenue ($9.8B vs $5.5B, roughly 1.8× CDW Corporation). On growth, CDW Corporation posted the faster year-over-year revenue change (6.3% vs 3.3%). CDW Corporation produced more free cash flow last quarter ($395.9M vs $159.0M). Over the past eight quarters, CDW Corporation's revenue compounded faster (6.3% CAGR vs 4.6%).
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.
US Foods Holding Corp. is an American food service distributor. It is the second-largest food service distributor in the U.S., after Sysco. The company supplies 250,000 locations including independent restaurants, chain restaurants, healthcare, hospitality, and educational institutions.
CDW vs USFD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $9.8B |
| Net Profit | — | $184.0M |
| Gross Margin | 22.8% | 17.6% |
| Operating Margin | 7.8% | 3.3% |
| Net Margin | — | 1.9% |
| Revenue YoY | 6.3% | 3.3% |
| Net Profit YoY | — | 178.8% |
| EPS (diluted) | $2.13 | $0.82 |
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 | $9.8B | ||
| Q3 25 | $5.7B | $10.2B | ||
| Q2 25 | $6.0B | $10.1B | ||
| Q1 25 | $5.2B | $9.4B | ||
| Q4 24 | $5.2B | $9.5B | ||
| Q3 24 | $5.5B | $9.7B | ||
| Q2 24 | $5.4B | $9.7B | ||
| Q1 24 | $4.9B | $8.9B |
| Q4 25 | — | $184.0M | ||
| Q3 25 | $291.0M | $153.0M | ||
| Q2 25 | $271.2M | $224.0M | ||
| Q1 25 | $224.9M | $115.0M | ||
| Q4 24 | — | $66.0M | ||
| Q3 24 | $316.4M | $148.0M | ||
| Q2 24 | $281.1M | $198.0M | ||
| Q1 24 | $216.1M | $82.0M |
| Q4 25 | 22.8% | 17.6% | ||
| Q3 25 | 21.9% | 17.2% | ||
| Q2 25 | 20.8% | 17.6% | ||
| Q1 25 | 21.6% | 17.3% | ||
| Q4 24 | 22.3% | 17.6% | ||
| Q3 24 | 21.8% | 17.1% | ||
| Q2 24 | 21.8% | 17.6% | ||
| Q1 24 | 21.8% | 16.7% |
| Q4 25 | 7.8% | 3.3% | ||
| Q3 25 | 7.7% | 2.8% | ||
| Q2 25 | 7.0% | 3.7% | ||
| Q1 25 | 7.0% | 2.4% | ||
| Q4 24 | 7.9% | 3.2% | ||
| Q3 24 | 8.7% | 2.9% | ||
| Q2 24 | 8.0% | 3.6% | ||
| Q1 24 | 6.7% | 1.8% |
| Q4 25 | — | 1.9% | ||
| Q3 25 | 5.1% | 1.5% | ||
| Q2 25 | 4.5% | 2.2% | ||
| Q1 25 | 4.3% | 1.2% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 5.7% | 1.5% | ||
| Q2 24 | 5.2% | 2.0% | ||
| Q1 24 | 4.4% | 0.9% |
| Q4 25 | $2.13 | $0.82 | ||
| Q3 25 | $2.21 | $0.67 | ||
| Q2 25 | $2.05 | $0.96 | ||
| Q1 25 | $1.69 | $0.49 | ||
| Q4 24 | $1.97 | $0.28 | ||
| Q3 24 | $2.34 | $0.61 | ||
| Q2 24 | $2.07 | $0.80 | ||
| Q1 24 | $1.59 | $0.33 |
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 | $41.0M |
| Total DebtLower is stronger | — | $5.1B |
| Stockholders' EquityBook value | $2.6B | $4.3B |
| Total Assets | $16.0B | $13.9B |
| Debt / EquityLower = less leverage | — | 1.18× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $618.7M | $41.0M | ||
| Q3 25 | $452.9M | $56.0M | ||
| Q2 25 | $481.0M | $61.0M | ||
| Q1 25 | $688.1M | $101.0M | ||
| Q4 24 | $717.7M | $59.0M | ||
| Q3 24 | $1.2B | $81.0M | ||
| Q2 24 | $665.3M | $405.0M | ||
| Q1 24 | $803.8M | $267.0M |
| Q4 25 | — | $5.1B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | — | $4.7B | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | — | $4.7B | ||
| Q2 24 | — | $4.6B | ||
| Q1 24 | — | $4.6B |
| Q4 25 | $2.6B | $4.3B | ||
| Q3 25 | $2.5B | $4.5B | ||
| Q2 25 | $2.5B | $4.6B | ||
| Q1 25 | $2.3B | $4.6B | ||
| Q4 24 | $2.4B | $4.5B | ||
| Q3 24 | $2.3B | $4.6B | ||
| Q2 24 | $2.2B | $5.0B | ||
| Q1 24 | $2.1B | $4.8B |
| Q4 25 | $16.0B | $13.9B | ||
| Q3 25 | $15.2B | $14.0B | ||
| Q2 25 | $15.3B | $13.8B | ||
| Q1 25 | $15.0B | $13.7B | ||
| Q4 24 | $14.7B | $13.4B | ||
| Q3 24 | $14.4B | $13.5B | ||
| Q2 24 | $13.6B | $13.7B | ||
| Q1 24 | $13.2B | $13.4B |
| Q4 25 | — | 1.18× | ||
| Q3 25 | — | 1.08× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 1.02× | ||
| Q4 24 | — | 1.06× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 0.92× | ||
| Q1 24 | — | 0.95× |
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 | $293.0M |
| Free Cash FlowOCF − Capex | $395.9M | $159.0M |
| FCF MarginFCF / Revenue | 7.2% | 1.6% |
| Capex IntensityCapex / Revenue | 0.7% | 1.4% |
| Cash ConversionOCF / Net Profit | — | 1.59× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $959.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $433.8M | $293.0M | ||
| Q3 25 | $328.3M | $351.0M | ||
| Q2 25 | $155.9M | $334.0M | ||
| Q1 25 | $287.2M | $391.0M | ||
| Q4 24 | $345.3M | $283.0M | ||
| Q3 24 | $342.1M | $270.0M | ||
| Q2 24 | $149.9M | $482.0M | ||
| Q1 24 | $440.0M | $139.0M |
| Q4 25 | $395.9M | $159.0M | ||
| Q3 25 | $298.5M | $236.0M | ||
| Q2 25 | $133.4M | $257.0M | ||
| Q1 25 | $260.3M | $307.0M | ||
| Q4 24 | $316.7M | $178.0M | ||
| Q3 24 | $308.5M | $190.0M | ||
| Q2 24 | $119.0M | $413.0M | ||
| Q1 24 | $410.5M | $52.0M |
| Q4 25 | 7.2% | 1.6% | ||
| Q3 25 | 5.2% | 2.3% | ||
| Q2 25 | 2.2% | 2.5% | ||
| Q1 25 | 5.0% | 3.3% | ||
| Q4 24 | 6.1% | 1.9% | ||
| Q3 24 | 5.6% | 2.0% | ||
| Q2 24 | 2.2% | 4.3% | ||
| Q1 24 | 8.4% | 0.6% |
| Q4 25 | 0.7% | 1.4% | ||
| Q3 25 | 0.5% | 1.1% | ||
| Q2 25 | 0.4% | 0.8% | ||
| Q1 25 | 0.5% | 0.9% | ||
| Q4 24 | 0.6% | 1.1% | ||
| Q3 24 | 0.6% | 0.8% | ||
| Q2 24 | 0.6% | 0.7% | ||
| Q1 24 | 0.6% | 1.0% |
| Q4 25 | — | 1.59× | ||
| Q3 25 | 1.13× | 2.29× | ||
| Q2 25 | 0.57× | 1.49× | ||
| Q1 25 | 1.28× | 3.40× | ||
| Q4 24 | — | 4.29× | ||
| Q3 24 | 1.08× | 1.82× | ||
| Q2 24 | 0.53× | 2.43× | ||
| Q1 24 | 2.04× | 1.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
Segment breakdown not available.
USFD
| Product One | $3.5B | 36% |
| Product Two | $1.7B | 17% |
| Product Three | $1.7B | 17% |
| Product Four | $985.0M | 10% |
| Product Five | $901.0M | 9% |
| Product Six | $580.0M | 6% |
| Product Seven | $485.0M | 5% |
