---
schema_version: "secwatch.filing_event.v1"
accession: "0001402057-25-000191"
form_type: "8-K"
ticker: "CDW"
cik: "0001402057"
company_name: "CDW Corp"
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:35:21.841576+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# CDW Q3 2025: net sales up 4% YoY to $5.74B; GAAP EPS down 5.8%, non-GAAP EPS up 3%; dividend raised 1%

## Summary
- Q3 net sales $5.74B (+4% YoY); GAAP diluted EPS $2.21 (-5.8%); non-GAAP diluted EPS $2.71 (+3%).
- Operating income $443M (-8%); non-GAAP operating income $531M (-0.6%); operating margin 7.7% vs 8.7%.
- Small Business segment led growth (+14.2%); Corporate +4.4%; Public +0.6%; Other +9.1%.
- Quarterly dividend increased ~1% to $0.630/share, payable Dec 10, 2025 to holders of record Nov 25.
- Management reaffirms target to exceed US IT market growth by 200-300 bps on constant currency basis.

## SEC filing metadata
- accession: 0001402057-25-000191
- form_type: 8-K
- ticker: CDW
- cik: 0001402057
- company_name: CDW Corp
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1402057/000140205725000191/0001402057-25-000191-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1402057/000140205725000191/cdw-20251104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001402057-25-000191
- JSON: https://secwatch.observer/filing/0001402057-25-000191.json
- Plain text: https://secwatch.observer/filing/0001402057-25-000191.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.