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Side-by-side financial comparison of CDW Corporation (CDW) and Block, Inc. (XYZ). Click either name above to swap in a different company.
Block, Inc. is the larger business by last-quarter revenue ($6.3B vs $5.5B, roughly 1.1× CDW Corporation). On growth, CDW Corporation posted the faster year-over-year revenue change (6.3% vs 3.6%). Block, Inc. produced more free cash flow last quarter ($579.8M vs $395.9M). Over the past eight quarters, CDW Corporation's revenue compounded faster (6.3% CAGR vs 2.4%).
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.
Block, Inc. is an American technology company and a financial services provider for consumers and merchants. Founded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems. As of 2024, Block serves 57 million users and 4 million sellers, processing $241 billion in payments annually.
CDW vs XYZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.5B | $6.3B |
| Net Profit | — | $115.8M |
| Gross Margin | 22.8% | 45.9% |
| Operating Margin | 7.8% | 7.8% |
| Net Margin | — | 1.9% |
| Revenue YoY | 6.3% | 3.6% |
| Net Profit YoY | — | -94.1% |
| EPS (diluted) | $2.13 | $0.19 |
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 | $6.3B | ||
| Q3 25 | $5.7B | $6.1B | ||
| Q2 25 | $6.0B | $6.1B | ||
| Q1 25 | $5.2B | $5.8B | ||
| Q4 24 | $5.2B | $6.0B | ||
| Q3 24 | $5.5B | $6.0B | ||
| Q2 24 | $5.4B | $6.2B | ||
| Q1 24 | $4.9B | $6.0B |
| Q4 25 | — | $115.8M | ||
| Q3 25 | $291.0M | $461.5M | ||
| Q2 25 | $271.2M | $538.5M | ||
| Q1 25 | $224.9M | $189.9M | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | $316.4M | $283.8M | ||
| Q2 24 | $281.1M | $195.3M | ||
| Q1 24 | $216.1M | $472.0M |
| Q4 25 | 22.8% | 45.9% | ||
| Q3 25 | 21.9% | 43.5% | ||
| Q2 25 | 20.8% | 41.9% | ||
| Q1 25 | 21.6% | 39.7% | ||
| Q4 24 | 22.3% | 38.3% | ||
| Q3 24 | 21.8% | 37.6% | ||
| Q2 24 | 21.8% | 36.3% | ||
| Q1 24 | 21.8% | 35.2% |
| Q4 25 | 7.8% | 7.8% | ||
| Q3 25 | 7.7% | 6.7% | ||
| Q2 25 | 7.0% | 8.0% | ||
| Q1 25 | 7.0% | 5.7% | ||
| Q4 24 | 7.9% | 0.2% | ||
| Q3 24 | 8.7% | 5.4% | ||
| Q2 24 | 8.0% | 5.0% | ||
| Q1 24 | 6.7% | 4.2% |
| Q4 25 | — | 1.9% | ||
| Q3 25 | 5.1% | 7.5% | ||
| Q2 25 | 4.5% | 8.9% | ||
| Q1 25 | 4.3% | 3.3% | ||
| Q4 24 | — | 32.3% | ||
| Q3 24 | 5.7% | 4.7% | ||
| Q2 24 | 5.2% | 3.2% | ||
| Q1 24 | 4.4% | 7.9% |
| Q4 25 | $2.13 | $0.19 | ||
| Q3 25 | $2.21 | $0.74 | ||
| Q2 25 | $2.05 | $0.87 | ||
| Q1 25 | $1.69 | $0.30 | ||
| Q4 24 | $1.97 | $3.06 | ||
| Q3 24 | $2.34 | $0.45 | ||
| Q2 24 | $2.07 | $0.31 | ||
| Q1 24 | $1.59 | $0.74 |
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 | $6.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $22.2B |
| Total Assets | $16.0B | $39.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $618.7M | $6.6B | ||
| Q3 25 | $452.9M | $8.3B | ||
| Q2 25 | $481.0M | $6.4B | ||
| Q1 25 | $688.1M | $7.1B | ||
| Q4 24 | $717.7M | $8.1B | ||
| Q3 24 | $1.2B | $8.3B | ||
| Q2 24 | $665.3M | $7.8B | ||
| Q1 24 | $803.8M | $5.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $2.6B | $22.2B | ||
| Q3 25 | $2.5B | $22.5B | ||
| Q2 25 | $2.5B | $22.2B | ||
| Q1 25 | $2.3B | $21.5B | ||
| Q4 24 | $2.4B | $21.3B | ||
| Q3 24 | $2.3B | $19.9B | ||
| Q2 24 | $2.2B | $19.3B | ||
| Q1 24 | $2.1B | $19.0B |
| Q4 25 | $16.0B | $39.5B | ||
| Q3 25 | $15.2B | $39.2B | ||
| Q2 25 | $15.3B | $36.9B | ||
| Q1 25 | $15.0B | $36.4B | ||
| Q4 24 | $14.7B | $36.8B | ||
| Q3 24 | $14.4B | $36.4B | ||
| Q2 24 | $13.6B | $37.5B | ||
| Q1 24 | $13.2B | $35.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.23× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.22× |
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 | $621.0M |
| Free Cash FlowOCF − Capex | $395.9M | $579.8M |
| FCF MarginFCF / Revenue | 7.2% | 9.3% |
| Capex IntensityCapex / Revenue | 0.7% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 5.36× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $2.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $433.8M | $621.0M | ||
| Q3 25 | $328.3M | $1.5B | ||
| Q2 25 | $155.9M | $374.3M | ||
| Q1 25 | $287.2M | $133.3M | ||
| Q4 24 | $345.3M | $13.8M | ||
| Q3 24 | $342.1M | $684.8M | ||
| Q2 24 | $149.9M | $519.4M | ||
| Q1 24 | $440.0M | $489.4M |
| Q4 25 | $395.9M | $579.8M | ||
| Q3 25 | $298.5M | $1.4B | ||
| Q2 25 | $133.4M | $343.0M | ||
| Q1 25 | $260.3M | $101.5M | ||
| Q4 24 | $316.7M | $-13.2M | ||
| Q3 24 | $308.5M | $628.2M | ||
| Q2 24 | $119.0M | $481.0M | ||
| Q1 24 | $410.5M | $457.4M |
| Q4 25 | 7.2% | 9.3% | ||
| Q3 25 | 5.2% | 22.9% | ||
| Q2 25 | 2.2% | 5.7% | ||
| Q1 25 | 5.0% | 1.8% | ||
| Q4 24 | 6.1% | -0.2% | ||
| Q3 24 | 5.6% | 10.5% | ||
| Q2 24 | 2.2% | 7.8% | ||
| Q1 24 | 8.4% | 7.7% |
| Q4 25 | 0.7% | 0.7% | ||
| Q3 25 | 0.5% | 0.8% | ||
| Q2 25 | 0.4% | 0.5% | ||
| Q1 25 | 0.5% | 0.6% | ||
| Q4 24 | 0.6% | 0.4% | ||
| Q3 24 | 0.6% | 0.9% | ||
| Q2 24 | 0.6% | 0.6% | ||
| Q1 24 | 0.6% | 0.5% |
| Q4 25 | — | 5.36× | ||
| Q3 25 | 1.13× | 3.14× | ||
| Q2 25 | 0.57× | 0.70× | ||
| Q1 25 | 1.28× | 0.70× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | 1.08× | 2.41× | ||
| Q2 24 | 0.53× | 2.66× | ||
| Q1 24 | 2.04× | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDW
Segment breakdown not available.
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
