CDW Corporation stock research
FY2026 Q1
CDW (CDW) Gross Margin & Quarterly History
Explore CDW Corporation (CDW) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue increased while gross profit decreased, leading to a lower gross margin compared to the prior quarter. Cost of revenue grew at a faster rate than revenue, compressing the margin.
- The gross margin weakened sequentially as cost of revenue rose more than revenue, while gross profit declined. Compared to the same quarter last year, gross margin was slightly lower despite higher revenue.
- Revenue was higher than both the prior quarter and the same quarter last year, but gross profit was lower than the prior quarter and higher than the year-ago quarter. Gross margin weakened versus both periods.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
21.0%
Gross profit
$1.2B
Revenue
$5.7B
Cost of revenue
$4.5B
Quarter-over-quarter change
-1.8 pts
Year-over-year change
-0.6 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $6.0B | $1.2B | $4.7B | 20.8% |
| Sep 30, 2025 | $5.7B | $1.3B | $4.5B | 21.9% |
| Dec 31, 2025 | $5.5B | $1.3B | $4.3B | 22.8% |
| Mar 31, 2026 | $5.7B | $1.2B | $4.5B | 21.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
-1.8 pts
Year-over-year change
Mar 31, 2025
-0.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin weakened sequentially as cost of revenue rose more than revenue, while gross profit declined. Compared to the same quarter last year, gross margin was slightly lower despite higher revenue.
Revenue was higher than both the prior quarter and the same quarter last year, but gross profit was lower than the prior quarter and higher than the year-ago quarter. Gross margin weakened versus both periods.
Monitor the trajectory of cost of revenue relative to revenue, as its faster growth drove the margin decline.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| CDW Corporation (CDW) | 21.0% |