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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.57B | $5.68B | $5.51B | $5.74B | $5.98B | $5.20B | $5.19B | $5.52B |
| Cost of revenue | $5.25B | $4.49B | $4.26B | $4.48B | $4.74B | $4.08B | $4.03B | $4.32B |
| Gross profit | $1.32B | $1.19B | $1.25B | $1.26B | $1.24B | $1.12B | $1.16B | $1.20B |
| Gross margin | 20.1% | 21.0% | 22.8% | 21.9% | 20.8% | 21.6% | 22.3% | 21.8% |
| Selling, general and administrative | $891.20M | $814.00M | $823.70M | $812.20M | $821.00M | $760.90M | $746.70M | $719.10M |
| Operating expenses | $891.20M | $814.00M | $823.70M | $812.20M | $821.00M | $760.90M | $746.70M | $719.10M |
| Operating income | $428.60M | $376.00M | $430.70M | $443.30M | $420.20M | $361.40M | $408.60M | $481.60M |
| Operating margin | 6.5% | 6.6% | 7.8% | 7.7% | 7.0% | 7.0% | 7.9% | 8.7% |
| EBITDA | $503.70M | $451.10M | $504.80M | $516.60M | $493.50M | $436.30M | $478.10M | $550.70M |
| Interest income | $0 | $0 | −$58.50M | −$55.00M | $0 | $0 | −$56.50M | −$54.40M |
| Interest expense | −$60.20M | −$55.30M | $0 | — | −$56.80M | −$57.10M | $0 | — |
| Income before taxes | $372.90M | $319.00M | $369.10M | $389.40M | $364.90M | $304.00M | $351.50M | $427.60M |
| Income taxes | $98.50M | $83.60M | $89.60M | $98.40M | $93.70M | $79.10M | $87.30M | $111.20M |
| Net income | $274.40M | $235.40M | $279.50M | $291.00M | $271.20M | $224.90M | $264.20M | $316.40M |
| Net margin | 4.2% | 4.1% | 5.1% | 5.1% | 4.5% | 4.3% | 5.1% | 5.7% |
| EPS, basic | $2.16 | $1.82 | $2.15 | $2.22 | $2.06 | $1.70 | $1.98 | $2.37 |
| EPS, diluted | $2.15 | $1.82 | $2.14 | $2.21 | $2.05 | $1.69 | $1.97 | $2.34 |
| Diluted shares | 127.40M | 129.50M | 130.70M | 131.80M | 132.40M | 133.50M | 134.30M | 134.90M |
Figures describe CDW shares, not any token. As of Aug 5, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.