CDW Corporation stock research
FY2024 Q3
CDW (CDW) Gross Margin — Quarter Ended Sep 30, 2024
In the current quarter, gross profit equaled revenue minus cost of revenue, and gross margin represented gross profit as a share of revenue. Compared with the preceding quarter, revenue was slightly higher while gross profit was similar, yielding an unchanged gross margin; versus the same quarter one year earlier, revenue was lower while gross profit was again similar, also resulting in a stable margin.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
In the current quarter, gross profit equaled revenue minus cost of revenue, and gross margin represented gross profit as a share of revenue. Compared with the preceding quarter, revenue was slightly higher while gross profit was similar, yielding an unchanged gross margin; versus the same quarter one year earlier, revenue was lower while gross profit was again similar, also resulting in a stable margin.
- The most notable observable driver is the consistent gross margin percentage across the current quarter, the preceding quarter, and the same quarter one year earlier, indicating that cost of revenue and revenue moved in proportion.
- Gross margin remained unchanged from both the preceding quarter and the same quarter one year earlier. Revenue was slightly higher sequentially but lower year-over-year, while gross profit was essentially flat across all three periods.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
21.8%
Gross profit
$1.2B
Revenue
$5.5B
Cost of revenue
$4.3B
Quarter-over-quarter change
-0.0 pts
Year-over-year change
-0.0 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $5.0B | $1.2B | $3.9B | 23.0% |
| Mar 31, 2024 | $4.9B | $1.1B | $3.8B | 21.8% |
| Jun 30, 2024 | $5.4B | $1.2B | $4.2B | 21.8% |
| Sep 30, 2024 | $5.5B | $1.2B | $4.3B | 21.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
-0.0 pts
Year-over-year change
Sep 30, 2023
-0.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most notable observable driver is the consistent gross margin percentage across the current quarter, the preceding quarter, and the same quarter one year earlier, indicating that cost of revenue and revenue moved in proportion.
Gross margin remained unchanged from both the preceding quarter and the same quarter one year earlier. Revenue was slightly higher sequentially but lower year-over-year, while gross profit was essentially flat across all three periods.
Monitor the relationship between cost of revenue and revenue for any deviation from the current proportional pattern.