CDW CDW Corporation - Common Stock
$135.14
Price · Aug 18, 2026
Fundamentals as of Aug 5, 2026
52W Range
$97–$172
51% of range
Analyst Rating
BUY
16 analysts
Price Target
$156
+15% upside
P/E (TTM)
16.5
ROE
42.0%
Net Profit Margin
4.8%
About CDW Corporation - Common Stock Company overview from Wikipedia
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.
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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.
History
CDW was originally incorporated in 1984 as "MPK Computing" by its founder Michael Krasny and John Marks. The idea was born when Krasny and Marks took a small ad in a free-circulation newspaper to sell their computer and printer. It later became Computer Discount Warehouse and then simply CDW.
In 2005, CDW launched BizTech magazine, which it publishes on quarterly basis.
In early 2006, CDW opened a 513,000-square-foot (47,700 m2) distribution center in North Las Vegas, Nevada. The Vernon Hills, Illinois distribution center is roughly 450,000 square feet (42,000 m2). In October 2006 CDW acquired Berbee, a reseller of IBM, Cisco, and Microsoft products and services. It was CDW's second major acquisition after purchasing Micro Warehouse in September 2003.
On 12 October 2007, Chicago based private equity firms Madison Dearborn Partners and Providence Equity Partners completed a $7 billion acquisition of CDW. It went public again through an initial public offering on the NASDAQ market on July 2, 2013, under the name CDW Corporation (the parent company since 2010). CDW LLC and CDW Finance Corporation are wholly owned subsidiaries.
CDW operates in Canada as CDW Canada Incorporated, based in Etobicoke, Ontario.
As of 2018, CDW ranked 189th on the Fortune 500 list of the largest United States corporations by revenue.
On December 18, 2023, CDW became a component of the Nasdaq-100 index.
Acquisitions
Berbee Information Networks Corporation, an American company specializing in IT, was purchased by CDW in 2006. Prior to that it was a privately held company headquartered in Fitchburg, Wisconsin. Berbee had offices in Illinois, Indiana, Michigan, Minnesota, Ohio, and Wisconsin. In October 2006, Berbee accepted an $175 million all-cash acquisition offer from CDW. It became a division of CDW and is now known as CDW Advanced Technology Services.
On 3 August 2015 the company announced that it had acquired the remaining 65% of Kelway Ltd., a London based multinational business with significant presence in the IT sector. Eight months earlier, CDW had bought a 35 percent stake in Kelway.
In 2021, CDW announced the acquisition of Sirius Computer Solutions, Inc. The acquisition was completed later that year.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
CDW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$135.14
Market Cap
$17.30B
P/E (TTM)
16.5
EPS (TTM)
$8.08
Revenue (TTM)
$22.42B
Div Yield
1.9%
ROE
42.0%
Debt/Equity
2.2
52W Range
$97 – $172
CDW Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$22.42B
2016-12-31
→
2025-12-31
EPS
$8.08
2016-12-31
→
2025-12-31
Free Cash Flow
$1.09B
2016-12-31
→
2025-12-31
Margins
4.8%
2016-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
CDW
Peer Median
P/E (TTM)
16.5
20.7
P/S (TTM)
0.8
0.4
P/B
6.6
1.5
EV / EBITDA
11.4
—
Price / FCF
15.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
CDW
Peer Median
Gross Margin
21.7%
14.8%
Operating Margin
7.4%
—
Net Profit Margin
4.8%
2.3%
ROA
7.0%
3.6%
ROE
42.0%
11.2%
ROIC
15.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
CDW
Peer Median
Debt / Equity
2.2
14.7
Current Ratio
1.2
1.3
Quick Ratio
1.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
CDW
Peer Median
Revenue YoY
6.8%
—
Revenue CAGR 3Y
-1.9%
—
Revenue CAGR 5Y
4.0%
—
EPS YoY
1.4%
—
Net Income YoY
-1.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
CDW
Peer Median
Payout Ratio
30.8%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
1.9%
Payout Ratio
30.8%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| May 22, 2026 | $0.6300 |
| Feb. 25, 2026 | $0.6300 |
| Nov. 25, 2025 | $0.6300 |
| Aug. 25, 2025 | $0.6250 |
| May 23, 2025 | $0.6250 |
| Feb. 25, 2025 | $0.6250 |
| Nov. 25, 2024 | $0.6250 |
| Aug. 26, 2024 | $0.6200 |
| May 23, 2024 | $0.6200 |
| Feb. 23, 2024 | $0.6200 |
| Nov. 22, 2023 | $0.6200 |
| Aug. 24, 2023 | $0.5900 |
| May 24, 2023 | $0.5900 |
| Feb. 23, 2023 | $0.5900 |
| Nov. 23, 2022 | $0.5900 |
| Aug. 24, 2022 | $0.5000 |
| May 24, 2022 | $0.5000 |
| Feb. 24, 2022 | $0.5000 |
| Nov. 23, 2021 | $0.5000 |
| Aug. 24, 2021 | $0.4000 |
CDW Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
16 analysts
- Strong Buy 4 25.0%
- Buy 7 43.8%
- Hold 5 31.2%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-08-14
Median
$159.00
Now
$135.14
Low
$123.00
High
$171.00
Median target
$159.00
+17.7%
Mean target
$155.89
+15.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $2.91 | $2.83 | 0.08% |
| March 31, 2026 | $2.28 | $2.31 | -0.03% |
| Dec. 31, 2025 | $2.57 | $2.47 | 0.10% |
| Sept. 30, 2025 | $2.71 | $2.65 | 0.06% |
| June 30, 2025 | $2.60 | $2.52 | 0.08% |
| March 31, 2025 | $2.15 | $1.98 | 0.17% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| CDW | $17.62B | 16.9 | 6.8% | 4.8% | 42.0% | 21.7% |
| SNX | $15.10B | 15.3 | 6.9% | 1.3% | 10.0% | 7.0% |
| ARW | $5.63B | 10.1 | 10.5% | 1.8% | 9.2% | 11.2% |
| AVT | — | 21.5 | 24.5% | 1.2% | 6.7% | 10.4% |
| INGM | — | 18.6 | 9.5% | — | — | — |
| NSIT | $2.53B | 16.8 | -5.2% | 1.9% | 9.7% | 21.4% |
| PLUS | $1.98B | 15.0 | 22.1% | 5.4% | 12.5% | 25.2% |
| CNXN | $1.46B | 17.7 | 2.5% | 2.9% | 9.3% | 18.8% |
| SCSC | $929M | 13.9 | -6.7% | 2.4% | 7.9% | 13.4% |
| CLMB | $474M | 22.2 | 40.1% | 3.3% | 19.2% | 16.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.42B | $21.00B | $21.38B | $23.75B | $20.82B | $18.47B | $18.03B | $16.24B | $14.83B | $13.67B | $12.99B | $12.07B | |
| Cost of Revenue | $17.55B | $16.40B | $16.72B | $19.06B | $17.25B | $15.26B | $14.99B | $13.53B | $12.38B | $11.34B | $10.87B | $10.15B | |
| Gross Profit | $4.87B | $4.60B | $4.65B | $4.69B | $3.57B | $3.21B | $3.04B | $2.71B | $2.45B | $2.33B | $2.12B | $1.92B | |
| SG&A Expense | $3.22B | $2.95B | $2.97B | $2.95B | $2.15B | $2.03B | $1.91B | $1.72B | $1.41B | $1.35B | $1.23B | $1.11B | |
| Operating Income | $1.66B | $1.65B | $1.68B | $1.74B | $1.42B | $1.18B | $1.13B | $987M | $866M | $820M | $742M | $673M | |
| Other Non-op | $-800.0K | $-1M | $-4M | $-12M | $30M | $-22M | $-24M | $2M | $-55M | $2M | $-9M | $3M | |
| Pretax Income | $1.43B | $1.44B | $1.45B | $1.49B | $1.30B | $1.00B | $950M | $840M | $661M | $673M | $647M | $388M | |
| Income Tax | $361M | $358M | $346M | $373M | $309M | $214M | $213M | $198M | $138M | $248M | $244M | $143M | |
| Net Income | $1.07B | $1.08B | $1.10B | $1.11B | $989M | $788M | $737M | $643M | $523M | $425M | $403M | $245M | |
| EPS (Basic) | $8.13 | $8.06 | $8.20 | $8.24 | $7.14 | $5.53 | $5.08 | $4.26 | $3.37 | $2.60 | $2.37 | $1.44 | |
| EPS (Diluted) | $8.08 | $7.97 | $8.10 | $8.13 | $7.04 | $5.45 | $4.99 | $4.19 | $3.31 | $2.56 | $2.35 | $1.42 | |
| Shares (Basic) | 131,300,000 | 133,800,000 | 134,600,000 | 135,200,000 | 138,500,000 | 142,600,000 | 145,100,000 | 150,900,000 | 155,400,000 | 163,600,000 | 170,300,000 | 170,600,000 | |
| Shares (Diluted) | 132,100,000 | 135,200,000 | 136,300,000 | 137,000,000 | 140,500,000 | 144,800,000 | 147,800,000 | 153,600,000 | 158,200,000 | 166,000,000 | 171,800,000 | 172,800,000 | |
| EBITDA | $1.95B | $1.93B | $1.95B | $2.03B | $1.61B | $1.60B | $1.40B | $1.25B | $1.13B | $1.07B | $969M | $881M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $619M | $504M | $589M | $315M | $258M | $1.41B | $154M | $206M | $144M | $264M | $38M | $344M | |
| Short-term Investments | $0 | $214M | $0 | · | · | · | · | · | · | · | · | · | |
| Receivables | $6.31B | $5.14B | $4.57B | $4.46B | $4.50B | $3.21B | $3.00B | $2.67B | $2.33B | $2.17B | $2.02B | $1.56B | |
| Inventory | $563M | $605M | $668M | $800M | $928M | $760M | $611M | $454M | $412M | $424M | $393M | $338M | |
| Prepaid Expense | $452M | $404M | $410M | $498M | $358M | $191M | $172M | $149M | $168M | $154M | $144M | $55M | |
| Current Assets | $8.50B | $7.37B | $6.71B | $6.56B | $6.48B | $5.95B | $4.33B | $3.80B | $3.40B | $3.25B | $2.79B | $2.45B | |
| PP&E (Net) | $172M | $192M | $196M | $189M | $196M | $176M | $363M | $156M | $161M | $164M | $175M | $137M | |
| PP&E (Gross) | $475M | $512M | $504M | $499M | $461M | $419M | $620M | $372M | $363M | $348M | $374M | $310M | |
| Goodwill | $4.66B | $4.62B | $4.41B | $4.34B | $4.38B | $2.60B | $2.55B | $2.46B | $2.48B | $2.46B | $2.50B | $2.22B | |
| Intangibles | $1.19B | $1.36B | $1.37B | $1.49B | $1.63B | $445M | $594M | $712M | $897M | $1.06B | $1.28B | $1.17B | |
| Other Non-current Assets | · | · | $472M | $396M | $359M | $44M | $23M | $40M | $33M | $36M | $12M | $12M | |
| Total Assets | $16.03B | $14.68B | $13.28B | $13.13B | $13.20B | $9.34B | $8.00B | $7.17B | $6.97B | $6.96B | $6.76B | $6.08B | |
| Accrued Liabilities | · | · | · | · | · | · | $940M | $593M | $522M | $436M | $402M | · | |
| Current Liabilities | $7.23B | $5.47B | $5.44B | $4.95B | $5.10B | $3.90B | $3.49B | $2.80B | $2.52B | $2.29B | $1.89B | $1.47B | |
| Capital Leases | $158M | $149M | $164M | $175M | $184M | $169M | $131M | $0 | · | · | · | · | |
| Deferred Tax | $172M | $167M | $171M | $203M | $222M | $55M | $62M | $142M | $196M | $369M | $470M | $475M | |
| Other Non-current Liabilities | · | · | $433M | $336M | $235M | $69M | $71M | $64M | $53M | $37M | $70M | $46M | |
| Total Liabilities | · | · | · | · | · | · | · | · | $5.98B | $5.91B | · | · | |
| Long-term Debt | $5.63B | $5.84B | $5.64B | $5.92B | $6.86B | $3.93B | $3.32B | $3.21B | $3.24B | $3.23B | $3.26B | $3.17B | |
| Total Debt | $5.63B | $5.84B | $5.64B | $5.92B | $6.86B | $3.93B | $3.32B | $3.21B | $3.24B | $3.23B | $3.26B | $3.19B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | |
| Retained Earnings | $-1.27B | $-1.32B | $-1.53B | $-1.76B | $-2.57B | $-1.81B | $-2.02B | $-1.89B | $-1.83B | $-1.67B | $-1.65B | $-1.76B | |
| Treasury Stock | · | · | · | · | · | · | · | $0 | $0 | $0 | · | · | |
| AOCI | $-100M | $-160M | $-125M | $-152M | $-94M | $-96M | $-118M | $-131M | $-96M | $-140M | $-61M | $-17M | |
| Stockholders' Equity | $2.61B | $2.35B | $2.04B | $1.60B | $706M | $1.30B | $960M | $975M | $986M | $1.05B | $1.10B | $936M | |
| Liabilities + Equity | $16.03B | $14.68B | $13.28B | $13.13B | $13.20B | $9.34B | $8.00B | $7.17B | $6.97B | $6.95B | $6.76B | $6.08B | |
| Shares Outstanding | 129,400,000 | 132,600,000 | 134,100,000 | 135,500,000 | 134,800,000 | 141,900,000 | 143,000,000 | 147,700,000 | 153,000,000 | 160,300,000 | 168,200,000 | 172,200,000 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $296M | $275M | $271M | $291M | $191M | $426M | $267M | $266M | $261M | $254M | $227M | $208M | |
| Deferred Tax | $1M | $-14M | $-33M | $-18M | $-7M | $-20M | $-88M | $-56M | $-172M | $-99M | $-53M | $-89M | |
| Amort. of Intangibles | $248M | $222M | $219M | $233M | $149M | $212M | $219M | $223M | $221M | $216M | $199M | $182M | |
| Other Non-cash | $-158M | $-62M | $256M | $-51M | $-388M | $120M | $111M | $53M | $166M | $24M | $-300M | $71M | |
| Operating Cash Flow | $1.21B | $1.28B | $1.60B | $1.34B | $785M | $1.31B | $1.03B | $906M | $778M | $604M | $278M | $435M | |
| CapEx | $117M | $123M | $148M | $128M | $100M | $158M | $236M | $86M | $81M | $64M | $90M | $55M | |
| Investing Cash Flow | $70M | $-659M | $-230M | $-164M | $-2.77B | $-201M | $-331M | $-86M | $-81M | $-66M | $-354M | $-165M | |
| Debt Issued | $592M | $1.20B | $0 | $0 | $3.92B | $1.30B | $600M | $0 | $2.08B | $1.48B | $525M | $1.18B | |
| Net Debt Issued | $381M | $1.20B | $-150M | $-636M | $3.87B | $678M | $61M | $0 | $-38M | $-7M | $-300.0K | $-124M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Stock Repurchased | $653M | $500M | $500M | $0 | $1.50B | $341M | $657M | $522M | $534M | $367M | $241M | $0 | |
| Net Stock Activity | $-653M | $-500M | $-500M | $0 | $-1.50B | $-341M | $-657M | $-522M | $-534M | $-367M | $-241M | $0 | |
| Dividends Paid | $329M | $332M | $322M | $283M | $235M | $220M | $183M | $139M | $107M | $79M | $53M | $34M | |
| Financing Cash Flow | $-1.18B | $-687M | $-1.10B | $-1.10B | $833M | $139M | $-750M | $-755M | $-819M | $-305M | $-226M | $-112M | |
| Net Change in Cash | $111M | $-81M | $274M | $57M | $-1.15B | $1.26B | $-52M | $62M | $-120M | $226M | $-307M | $156M | |
| Taxes Paid | $326M | $399M | $401M | $362M | $351M | $246M | $272M | $261M | $276M | $329M | $300M | $241M | |
| Free Cash Flow | $1.09B | $1.15B | $1.45B | $1.21B | $685M | $1.16B | $791M | $820M | $697M | $540M | $187M | $380M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.7% | 21.9% | 21.8% | 19.7% | 17.1% | 17.4% | 16.9% | 16.7% | 16.1% | 16.6% | 16.3% | 15.9% | |
| Operating Margin | 7.4% | 7.9% | 7.9% | 7.3% | 6.8% | 6.4% | 6.3% | 6.1% | 5.7% | 5.9% | 5.7% | 5.6% | |
| Net Margin | 4.8% | 5.1% | 5.2% | 4.7% | 4.8% | 4.3% | 4.1% | 4.0% | 3.4% | 3.0% | 3.1% | 2.0% | |
| Pretax Margin | 6.4% | 6.8% | 6.8% | 6.3% | 6.2% | 5.4% | 5.3% | 5.2% | 4.3% | 4.8% | 5.0% | 3.2% | |
| EBITDA Margin | 8.7% | 9.2% | 9.1% | 8.5% | 7.7% | 8.7% | 7.8% | 7.7% | 7.4% | 7.7% | 7.5% | 7.3% | |
| ROA | 7.0% | 7.7% | 8.4% | 8.5% | 8.8% | 9.1% | 9.7% | 9.1% | 7.5% | 6.2% | 6.3% | 4.1% | |
| ROE | 42.0% | 45.8% | 57.3% | 76.1% | 128.2% | 62.2% | 77.8% | 60.2% | 51.5% | 39.6% | 39.7% | 29.7% | |
| ROIC | 15.0% | 15.1% | 16.7% | 17.3% | 14.3% | 17.8% | 20.6% | 18.1% | 16.3% | 12.1% | 10.6% | 10.3% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | 1.3 | 1.2 | 1.3 | 1.3 | 1.5 | 1.2 | 1.4 | 1.3 | 1.4 | 1.5 | 1.7 | |
| Quick Ratio | 1.0 | 1.1 | 0.9 | 1.0 | 0.9 | 1.2 | 0.9 | 1.0 | 1.0 | 1.1 | 1.1 | 1.3 | |
| Debt / Equity | 2.2 | 2.5 | 2.8 | 3.7 | 9.7 | 3.0 | 3.5 | 3.3 | 3.3 | 3.1 | 3.0 | 3.4 | |
| LT Debt / Equity | 1.8 | 2.4 | 2.5 | 3.7 | 9.6 | 3.0 | 3.4 | 3.3 | 3.3 | 3.1 | 2.9 | 3.4 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.5 | 1.5 | 1.6 | 1.8 | 1.8 | 2.1 | 2.4 | 2.3 | 2.2 | 2.0 | 2.0 | 2.0 | |
| Inventory Turnover | 30.0 | 25.8 | 22.8 | 22.1 | 20.4 | 22.3 | 28.1 | 31.3 | 29.2 | 27.6 | 29.8 | 28.2 | |
| Receivables Turnover | 3.9 | 4.3 | 4.7 | 5.3 | 5.4 | 5.9 | 6.4 | 6.5 | 6.8 | 6.7 | 7.3 | 8.0 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 6.8% | -1.8% | -10.0% | 14.1% | 12.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -1.9% | 0.28% | 5.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 4.0% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 1.4% | -1.6% | -0.37% | 15.5% | 29.2% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -0.21% | 4.2% | 14.1% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 8.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -1.0% | -2.4% | -0.92% | 12.7% | 25.4% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -1.5% | 2.9% | 11.9% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 6.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 8.4% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $22.42B | $21.00B | $21.38B | $23.75B | $20.82B | $18.47B | $18.03B | $16.24B | $14.83B | $13.67B | $12.99B | $12.07B | |
| Net Income TTM | $1.07B | $1.08B | $1.10B | $1.11B | $989M | $788M | $737M | $643M | $523M | $425M | $403M | $245M | |
| Market Cap | $17.62B | $23.08B | $30.48B | $24.20B | $27.60B | $18.70B | $20.43B | $11.97B | $10.63B | $8.35B | $7.07B | $6.06B | |
| Enterprise Value | $22.64B | $28.20B | $35.54B | $29.81B | $34.20B | $21.22B | $23.59B | $14.97B | $13.72B | $11.32B | $10.29B | $8.90B | |
| P/E | 16.9 | 21.8 | 28.1 | 22.0 | 29.1 | 24.2 | 28.6 | 19.3 | 21.0 | 20.3 | 17.9 | 24.8 | |
| P/S | 0.8 | 1.1 | 1.4 | 1.0 | 1.3 | 1.0 | 1.1 | 0.7 | 0.7 | 0.6 | 0.5 | 0.5 | |
| P/B | 6.8 | 9.8 | 14.9 | 15.1 | 39.1 | 14.4 | 21.3 | 12.3 | 10.8 | 8.0 | 6.5 | 6.5 | |
| P / Cash Flow | 14.6 | 18.1 | 19.1 | 18.1 | 35.2 | 14.2 | 19.9 | 13.2 | 13.7 | 13.8 | 25.5 | 13.9 | |
| P / FCF | 16.2 | 20.0 | 21.0 | 20.0 | 40.3 | 16.2 | 25.8 | 14.6 | 15.3 | 15.4 | 37.7 | 15.9 | |
| EV / EBITDA | 11.6 | 14.6 | 18.2 | 14.7 | 21.2 | 13.2 | 16.8 | 12.0 | 12.2 | 10.5 | 10.6 | 10.1 | |
| EV / FCF | 20.8 | 24.4 | 24.5 | 24.7 | 50.0 | 18.3 | 29.8 | 18.3 | 19.7 | 20.9 | 54.9 | 23.4 | |
| EV / Revenue | 1.0 | 1.3 | 1.7 | 1.3 | 1.6 | 1.1 | 1.3 | 0.9 | 0.9 | 0.8 | 0.8 | 0.7 | |
| Dividend Yield | 1.9% | 1.4% | 1.1% | 1.2% | 0.85% | 1.2% | 0.90% | 1.2% | 1.0% | 0.94% | 0.75% | 0.55% | |
| Earnings Yield | 5.9% | 4.6% | 3.6% | 4.5% | 3.4% | 4.1% | 3.5% | 5.2% | 4.8% | 4.9% | 5.6% | 4.0% | |
| Payout Ratio | 30.8% | 30.8% | 29.1% | 25.4% | 23.8% | 27.9% | 24.9% | 21.7% | 20.4% | 18.5% | 13.1% | 13.7% | |
| Annual Payout | $329M | $332M | $322M | $283M | $235M | $220M | $183M | $139M | $107M | $79M | $53M | $34M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.57B | $5.68B | $5.51B | $5.74B | $5.98B | $5.20B | $5.19B | $5.52B | $5.42B | $4.87B | $5.02B | $5.63B | $5.63B | $5.10B | $5.44B | $6.22B | |
| Cost of Revenue | $5.25B | $4.49B | $4.26B | $4.48B | $4.74B | $4.08B | $4.03B | $4.32B | $4.24B | $3.81B | $3.86B | $4.40B | $4.44B | $4.01B | $4.26B | $4.98B | |
| Gross Profit | $1.32B | $1.19B | $1.25B | $1.26B | $1.24B | $1.12B | $1.16B | $1.20B | $1.18B | $1.06B | $1.15B | $1.23B | $1.18B | $1.09B | $1.18B | $1.23B | |
| SG&A Expense | $891M | $814M | $824M | $812M | $821M | $761M | $747M | $719M | $750M | $735M | $719M | $749M | $769M | $734M | $734M | $767M | |
| Operating Income | $429M | $376M | $431M | $443M | $420M | $361M | $409M | $482M | $433M | $328M | $435M | $478M | $412M | $355M | $447M | $466M | |
| Other Non-op | $4M | $-2M | $-3M | $1M | $2M | $-300.0K | $-600.0K | $400.0K | $-1M | $-100.0K | $-1M | $-1M | $-600.0K | $-1M | $-6M | $-5M | |
| Pretax Income | $373M | $319M | $369M | $389M | $365M | $304M | $352M | $428M | $380M | $277M | $381M | $420M | $353M | $296M | $381M | $399M | |
| Income Tax | $98M | $84M | $90M | $98M | $94M | $79M | $87M | $111M | $99M | $60M | $85M | $104M | $91M | $66M | $94M | $101M | |
| Net Income | $274M | $235M | $280M | $291M | $271M | $225M | $264M | $316M | $281M | $216M | $296M | $316M | $263M | $230M | $287M | $298M | |
| EPS (Basic) | $2.16 | $1.82 | $2.15 | $2.22 | $2.06 | $1.70 | $1.98 | $2.37 | $2.10 | $1.61 | $2.20 | $2.35 | $1.95 | $1.70 | $2.12 | $2.20 | |
| EPS (Diluted) | $2.15 | $1.82 | $2.13 | $2.21 | $2.05 | $1.69 | $1.97 | $2.34 | $2.07 | $1.59 | $2.18 | $2.32 | $1.92 | $1.68 | $2.09 | $2.17 | |
| Shares (Basic) | 127,000,000 | 129,000,000 | -263,800,000 | 131,000,000 | 131,600,000 | 132,500,000 | -268,200,000 | 133,500,000 | 134,100,000 | 134,400,000 | -269,700,000 | 134,100,000 | 134,600,000 | 135,600,000 | -270,200,000 | 135,300,000 | |
| Shares (Diluted) | 127,400,000 | 129,500,000 | -265,600,000 | 131,800,000 | 132,400,000 | 133,500,000 | -271,300,000 | 134,900,000 | 135,600,000 | 136,000,000 | -273,000,000 | 135,900,000 | 136,100,000 | 137,300,000 | -273,600,000 | 137,100,000 | |
| EBITDA | $504M | $451M | · | $517M | $494M | $436M | · | $551M | $502M | $395M | · | $544M | $478M | $426M | · | $542M |
Balance Sheet 24
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $362M | $579M | $619M | $453M | $481M | $471M | $504M | $947M | $665M | $804M | · | $441M | $204M | $279M | · | $385M | |
| Short-term Investments | · | · | $0 | $0 | $0 | $217M | $214M | $212M | · | · | · | · | · | · | · | · | |
| Receivables | $7.34B | $6.47B | $6.31B | $5.79B | $5.63B | $5.33B | $5.14B | $4.89B | $4.72B | $4.31B | · | $4.42B | $4.50B | $4.26B | · | $4.55B | |
| Inventory | $982M | $821M | $563M | $505M | $762M | $720M | $605M | $682M | $725M | $671M | · | $706M | $790M | $781M | · | $914M | |
| Prepaid Expense | $446M | $514M | $452M | $421M | $408M | $385M | $404M | $407M | $389M | $367M | · | $403M | $479M | $488M | · | $560M | |
| Current Assets | $9.68B | $8.97B | $8.50B | $7.78B | $7.84B | $7.65B | $7.37B | $7.66B | $7.04B | $6.63B | · | $6.46B | $6.49B | $6.28B | · | $6.90B | |
| PP&E (Net) | $166M | $172M | $172M | $177M | $182M | $188M | $192M | $193M | $187M | $190M | · | $195M | $194M | $187M | · | $188M | |
| PP&E (Gross) | · | · | $475M | · | · | · | $512M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $4.65B | $4.65B | $4.66B | $4.64B | $4.65B | $4.64B | $4.62B | $4.42B | $4.41B | $4.41B | $4.41B | $4.42B | $4.43B | $4.37B | $4.34B | $4.33B | |
| Intangibles | $1.10B | $1.14B | $1.19B | $1.23B | $1.27B | $1.31B | $1.36B | $1.26B | $1.29B | $1.33B | · | $1.38B | $1.42B | $1.46B | · | $1.53B | |
| Other Non-current Assets | · | · | · | · | · | · | · | $709M | $573M | $493M | · | $287M | $314M | $335M | · | $386M | |
| Total Assets | $17.25B | $16.45B | $16.03B | $15.20B | $15.27B | $15.02B | $14.68B | $14.38B | $13.64B | $13.19B | · | $12.88B | $12.99B | $12.77B | · | $13.48B | |
| Current Liabilities | $8.30B | $7.70B | $7.23B | $5.59B | $5.81B | $5.78B | $5.47B | $5.46B | $6.21B | $5.26B | · | $4.78B | $5.00B | $4.78B | · | $5.36B | |
| Capital Leases | $147M | $150M | $158M | $129M | $136M | $141M | $149M | $159M | $162M | $168M | · | $169M | $174M | $171M | · | $180M | |
| Deferred Tax | $162M | $167M | $172M | $165M | $139M | $155M | $167M | $145M | $152M | $162M | · | $172M | $180M | $193M | · | $208M | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | $658M | $518M | $436M | · | $281M | $301M | $307M | · | $302M | |
| Long-term Debt | $5.82B | $5.64B | $5.63B | $5.63B | $5.63B | $5.85B | $5.84B | $6.03B | $5.63B | $5.63B | · | $5.70B | $5.76B | $5.80B | · | $6.16B | |
| Total Debt | $5.82B | $5.64B | · | $5.63B | $5.63B | $5.85B | · | $6.03B | $5.63B | $5.63B | · | $5.70B | $5.76B | $5.80B | · | $6.16B | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | |
| Retained Earnings | $-1.49B | $-1.33B | $-1.27B | $-1.31B | $-1.37B | $-1.40B | $-1.32B | $-1.35B | $-1.48B | $-1.47B | · | $-1.69B | $-1.86B | $-1.85B | · | $-1.97B | |
| AOCI | $-123M | $-120M | $-100M | $-106M | $-86M | $-143M | $-160M | $-108M | $-135M | $-133M | · | $-150M | $-125M | $-143M | · | $-188M | |
| Stockholders' Equity | $2.44B | $2.56B | $2.61B | $2.54B | $2.47B | $2.32B | $2.35B | $2.35B | $2.17B | $2.14B | $2.04B | $1.81B | $1.61B | $1.57B | $1.60B | $1.33B | |
| Liabilities + Equity | $17.25B | $16.45B | $16.03B | $15.20B | $15.27B | $15.02B | $14.68B | $14.38B | $13.64B | $13.19B | · | $12.88B | $12.99B | $12.77B | · | $13.48B | |
| Shares Outstanding | 125,300,000 | 128,000,000 | 129,400,000 | 130,300,000 | 131,100,000 | 131,700,000 | 132,600,000 | 133,200,000 | 133,600,000 | 134,400,000 | 134,100,000 | 134,000,000 | 134,000,000 | 135,000,000 | · | 135,300,000 |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $75M | $75M | $74M | $73M | $73M | $75M | $70M | $69M | $69M | $67M | $68M | $66M | $66M | $71M | $72M | $76M | |
| Other Non-cash | · | $-36M | · | · | · | $-13M | · | · | · | $157M | · | · | · | $65M | · | · | |
| Operating Cash Flow | $-55M | $275M | $434M | $328M | $156M | $287M | $345M | $342M | $150M | $440M | $536M | $469M | $228M | $365M | $242M | $333M | |
| CapEx | $28M | $26M | $38M | $30M | $22M | $27M | $29M | $34M | $31M | $30M | $34M | $43M | $40M | $32M | $31M | $34M | |
| Investing Cash Flow | $-28M | $-31M | $-54M | $-30M | $186M | $-32M | $-354M | $-245M | $-31M | $-30M | $-34M | $-49M | $-93M | $-54M | $-39M | $-34M | |
| Debt Issued | · | · | $592M | · | · | · | $0 | · | · | · | $0 | · | · | · | · | · | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $-50M | · | · | |
| Stock Repurchased | $344M | $201M | $153M | $150M | $150M | $200M | $146M | $100M | $202M | $52M | $50M | $54M | $196M | $200M | $0 | $0 | |
| Net Stock Activity | · | $-201M | · | · | · | $-200M | · | · | · | $-52M | · | · | · | $-200M | · | · | |
| Dividends Paid | $80M | $81M | $82M | $82M | $82M | $83M | $83M | $83M | $83M | $83M | $83M | $79M | $79M | $80M | $80M | $68M | |
| Financing Cash Flow | $-133M | $-273M | $-216M | $-320M | $-355M | $-294M | $-416M | $179M | $-257M | $-193M | $-359M | $-180M | $-211M | $-348M | $-272M | $-456M | |
| Net Change in Cash | $-217M | $-39M | $166M | $-28M | $6M | $-32M | $-439M | $281M | $-138M | $215M | $148M | $237M | $-76M | $-36M | $-69M | $-157M | |
| Taxes Paid | $185M | $17M | $130M | $32M | $144M | $19M | $120M | $132M | $131M | $17M | $116M | $110M | $196M | $22M | $88M | $114M | |
| Free Cash Flow | · | $248M | · | · | · | $260M | · | · | · | $410M | · | · | · | $334M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.1% | 20.9% | · | 21.9% | 20.8% | 21.6% | · | 21.8% | 21.8% | 21.8% | · | 21.8% | 21.0% | 21.3% | · | 19.8% | |
| Operating Margin | 6.5% | 6.6% | · | 7.7% | 7.0% | 7.0% | · | 8.7% | 8.0% | 6.7% | · | 8.5% | 7.3% | 7.0% | · | 7.5% | |
| Net Margin | 4.2% | 4.1% | · | 5.1% | 4.5% | 4.3% | · | 5.7% | 5.2% | 4.4% | · | 5.6% | 4.7% | 4.5% | · | 4.8% | |
| Pretax Margin | 5.7% | 5.6% | · | 6.8% | 6.1% | 5.9% | · | 7.8% | 7.0% | 5.7% | · | 7.5% | 6.3% | 5.8% | · | 6.4% | |
| EBITDA Margin | 7.7% | 7.9% | · | 9.0% | 8.3% | 8.4% | · | 10.0% | 9.3% | 8.1% | · | 9.7% | 8.5% | 8.3% | · | 8.7% | |
| ROA | 1.7% | 1.5% | · | 2.0% | 1.9% | 1.6% | · | 2.3% | 2.1% | 1.7% | · | 2.4% | 2.0% | 1.8% | · | 2.6% | |
| ROE | 11.2% | 9.7% | · | 11.9% | 11.7% | 10.1% | · | 15.2% | 14.8% | 11.7% | · | 20.1% | 19.3% | 18.7% | · | 27.5% | |
| ROIC | 3.8% | 3.4% | · | 4.1% | 3.9% | 3.3% | · | 4.2% | 4.1% | 3.3% | · | 4.8% | 4.2% | 3.8% | · | 4.7% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | 1.2 | · | 1.4 | 1.3 | 1.3 | · | 1.4 | 1.1 | 1.3 | · | 1.4 | 1.3 | 1.3 | · | 1.3 | |
| Quick Ratio | 0.9 | 0.9 | · | 1.1 | 1.1 | 1.0 | · | 1.1 | 0.9 | 1.0 | · | 1.0 | 0.9 | 1.0 | · | 0.9 | |
| Debt / Equity | 2.4 | 2.2 | · | 2.2 | 2.3 | 2.5 | · | 2.6 | 2.6 | 2.6 | · | 3.1 | 3.6 | 3.7 | · | 4.6 | |
| LT Debt / Equity | 2.0 | 1.8 | · | 2.2 | 2.3 | 2.4 | · | 2.4 | 2.0 | 2.4 | · | 3.1 | 3.5 | 3.7 | · | 4.6 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.6 | |
| Inventory Turnover | 6.0 | 5.8 | · | 7.6 | 6.4 | 5.9 | · | 6.2 | 5.6 | 5.2 | · | 5.4 | 4.9 | 4.4 | · | 5.7 | |
| Receivables Turnover | 1.0 | 1.0 | · | 1.1 | 1.2 | 1.1 | · | 1.2 | 1.2 | 1.1 | · | 1.3 | 1.3 | 1.1 | · | 1.5 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $23.97B | $22.59B | · | $22.43B | $22.12B | $21.01B | · | $21.44B | $21.55B | $21.23B | · | $22.57B | $23.09B | $23.41B | · | $23.61B | |
| Net Income TTM | $1.07B | $1.02B | · | $1.10B | $1.09B | $1.04B | · | $1.13B | $1.08B | $1.02B | · | $1.11B | $1.07B | $1.06B | · | $1.09B | |
| Market Cap | $17.62B | $15.49B | · | $20.75B | $23.41B | $21.11B | · | $30.14B | $29.91B | $34.38B | · | $27.04B | $24.59B | $26.31B | · | $21.12B | |
| Enterprise Value | $23.08B | $20.55B | · | $25.93B | $28.56B | $26.27B | · | $35.02B | $34.87B | $39.21B | · | $32.30B | $30.15B | $31.83B | · | $26.89B | |
| P/E | 17.1 | 15.6 | · | 19.2 | 21.9 | 20.8 | · | 27.2 | 28.3 | 34.1 | · | 24.9 | 23.5 | 25.2 | · | 19.6 | |
| P/S | 0.7 | 0.7 | · | 0.9 | 1.1 | 1.0 | · | 1.4 | 1.4 | 1.6 | · | 1.2 | 1.1 | 1.1 | · | 0.9 | |
| P/B | 7.2 | 6.1 | · | 8.2 | 9.5 | 9.1 | · | 12.8 | 13.8 | 16.1 | · | 14.9 | 15.2 | 16.8 | · | 15.9 | |
| P / Cash Flow | · | 56.4 | · | · | · | 73.5 | · | · | · | 78.1 | · | · | · | 72.0 | · | · | |
| P / FCF | · | 62.4 | · | · | · | 81.1 | · | · | · | 83.7 | · | · | · | 78.8 | · | · | |
| EV / EBITDA | 45.8 | 45.6 | · | 50.2 | 57.9 | 60.2 | · | 63.6 | 69.4 | 99.2 | · | 59.3 | 63.1 | 74.7 | · | 49.6 | |
| EV / FCF | · | 82.7 | · | · | · | 100.9 | · | · | · | 95.5 | · | · | · | 95.4 | · | · | |
| EV / Revenue | 1.0 | 0.9 | · | 1.2 | 1.3 | 1.3 | · | 1.6 | 1.6 | 1.8 | · | 1.4 | 1.3 | 1.4 | · | 1.1 | |
| Earnings Yield | 5.9% | 6.4% | · | 5.2% | 4.6% | 4.8% | · | 3.7% | 3.5% | 2.9% | · | 4.0% | 4.3% | 4.0% | · | 5.1% | |
| Payout Ratio | · | 34.4% | · | · | · | 36.8% | · | · | · | 38.6% | · | · | · | 34.7% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $22.42B | $21.00B | $21.38B | $23.75B | $20.82B |
| Gross Margin % | 21.7% | 21.9% | 21.8% | 19.7% | 17.1% |
| Operating Margin % | 7.4% | 7.9% | 7.9% | 7.3% | 6.8% |
| Net Income | $1.07B | $1.08B | $1.10B | $1.11B | $989M |
| Diluted EPS | $8.08 | $7.97 | $8.10 | $8.13 | $7.04 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 2.2 | 2.5 | 2.8 | 3.7 | 9.7 |
| Current Ratio | 1.2 | 1.3 | 1.2 | 1.3 | 1.3 |
| Quick Ratio | 1.0 | 1.1 | 0.9 | 1.0 | 0.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.09B | $1.15B | $1.45B | $1.21B | $685M |
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Institutional owners (13F) 836 filers · $10.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 122 (+6 vs prior Q) | 102 (-24 vs prior Q) | 248 (-22 vs prior Q) | 284 (+20 vs prior Q) | +23.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $1,173,102,008 | 8,341,169 | 11.07% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,152,907,229 | 8,197,577 | 10.88% | Shares |
| STATE STREET CORP | $812,855,320 | 5,779,688 | 7.67% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $531,279,554 | 3,777,585 | 5.01% | Shares |
| Boston Partners | $523,935,260 | 3,725,578 | 4.94% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $488,621,230 | 3,471,897 | 4.61% | Shares |
| Longview Partners (Guernsey) LTD | $262,678,391 | 1,867,736 | 2.48% | Shares |
| Alyeska Investment Group, L.P. | $260,880,449 | 1,854,952 | 2.46% | Shares |
| FIDUCIARY MANAGEMENT INC /WI/ | $196,018,125 | 1,393,758 | 1.85% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $178,265,108 | 1,267,528 | 1.68% | Shares |
| Madison Asset Management, LLC | $150,554,447 | 1,070,495 | 1.42% | Shares |
| Point72 Asset Management, L.P. | $143,191,772 | 1,018,144 | 1.35% | Shares |
| FMR LLC | $139,888,350 | 994,656 | 1.32% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $138,764,203 | 986,663 | 1.31% | Shares |
| Mawer Investment Management Ltd. | $133,520,944 | 949,381 | 1.26% | Shares |
| Madison Investment Advisors, LLC | $130,995,835 | 752,677 | 1.24% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $129,656,719 | 921,905 | 1.22% | Shares |
| Freestone Grove Partners LP | $115,084,587 | 818,292 | 1.09% | Shares |
| Mondrian Investment Partners LTD | $106,203,030 | 755,141 | 1.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $101,088,099 | 758,350 | 0.95% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $100,873,196 | 717,244 | 0.95% | Shares |
| Fenimore Asset Management Inc | $99,794,614 | 709,575 | 0.94% | Shares |
| NEUBERGER BERMAN GROUP LLC | $98,489,598 | 700,296 | 0.93% | Shares |
| NORGES BANK | $95,057,451 | 675,892 | 0.90% | Shares |
| Swedbank AB | $91,460,302 | 650,315 | 0.86% | Shares |
| AMERIPRISE FINANCIAL INC | $85,635,926 | 608,902 | 0.81% | Shares |
| AMERICAN CENTURY COMPANIES INC | $80,787,587 | 574,426 | 0.76% | Shares |
| LAKEWOOD CAPITAL MANAGEMENT, LP | $67,999,440 | 483,500 | 0.64% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $66,572,341 | 473,353 | 0.63% | Shares |
| JANE STREET GROUP, LLC | $65,186,640 | 463,500 | 0.62% | Put option |
| DNB Asset Management AS | $61,999,456 | 440,838 | 0.58% | Shares |
| FIRST TRUST ADVISORS LP | $61,508,700 | 437,350 | 0.58% | Shares |
| CITADEL ADVISORS LLC | $60,363,251 | 429,204 | 0.57% | Shares |
| TWO SIGMA INVESTMENTS, LP | $58,806,788 | 418,137 | 0.55% | Shares |
| ALLIANCEBERNSTEIN L.P. | $53,323,590 | 440,618 | 0.50% | Shares |
| BlackRock, Inc. | $51,107,310 | 363,391 | 0.48% | Shares |
| Swiss National Bank | $50,756,976 | 360,900 | 0.48% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $49,413,000 | 351,345 | 0.47% | Shares |
| BANK OF AMERICA CORP /DE/ | $46,299,110 | 329,203 | 0.44% | Shares |
| Findlay Park Partners LLP | $45,767,913 | 325,426 | 0.43% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $45,636,836 | 324,494 | 0.43% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $44,850,016 | 318,903 | 0.42% | Shares |
| Blue Grotto Capital, LLC | $44,391,891 | 315,642 | 0.42% | Shares |
| Select Equity Group, L.P. | $44,225,654 | 314,460 | 0.42% | Shares |
| Quantinno Capital Management LP | $43,586,173 | 309,913 | 0.41% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $41,759,954 | 296,928 | 0.39% | Shares |
| GOLDMAN SACHS GROUP INC | $41,752,306 | 296,874 | 0.39% | Shares |
| PFA Pension, Forsikringsaktieselskab | $39,976,473 | 284,247 | 0.38% | Shares |
| Vanguard Global Advisers, LLC | $38,759,681 | 275,595 | 0.37% | Shares |
| VANGUARD GROUP INC | $38,629,044 | 283,620 | 0.36% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $37,440,478 | 266,215 | 0.35% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $37,143,024 | 264,100 | 0.35% | Call option |
| RAYMOND JAMES FINANCIAL INC | $36,872,760 | 262,178 | 0.35% | Shares |
| RHUMBLINE ADVISERS | $35,819,211 | 254,688 | 0.34% | Shares |
| RENAISSANCE GROUP LLC | $33,610,336 | 238,981 | 0.32% | Shares |
| TWO SIGMA ADVISERS, LP | $32,497,320 | 238,600 | 0.31% | Shares |
| BARCLAYS PLC | $30,917,172 | 219,832 | 0.29% | Shares |
| Wishbone Management, LP | $28,128,000 | 200,000 | 0.27% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $27,118,767 | 224,085 | 0.26% | Shares |
| Artisan Partners Limited Partnership | $25,789,579 | 183,373 | 0.24% | Shares |
| BAMCO INC /NY/ | $24,206,394 | 172,116 | 0.23% | Shares |
| California Public Employees Retirement System | $23,942,413 | 170,239 | 0.23% | Shares |
| Cubist Systematic Strategies, LLC | $23,332,555 | 146,487 | 0.22% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $23,074,945 | 164,071 | 0.22% | Shares |
| Local Pensions Partnership Investment Ltd | $22,392,083 | 159,176 | 0.21% | Shares |
| ATWOOD & PALMER INC | $22,206,620 | 157,897 | 0.21% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $21,152,958 | 150,405 | 0.20% | Shares |
| CITADEL ADVISORS LLC | $20,575,632 | 146,300 | 0.19% | Call option |
| PNC Financial Services Group, Inc. | $19,816,457 | 140,902 | 0.19% | Shares |
| Baird Financial Group, Inc. | $19,640,658 | 139,652 | 0.19% | Shares |
| MORGAN STANLEY | $19,519,518 | 138,790 | 0.18% | Shares |
| Kepler Cheuvreux (Suisse) SA | $18,875,013 | 134,208 | 0.18% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $18,297,264 | 130,100 | 0.17% | Put option |
| Legal & General Group Plc | $18,231,867 | 129,635 | 0.17% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $17,519,525 | 124,570 | 0.17% | Shares |
| Broad Run Investment Management, LLC | $17,482,958 | 124,310 | 0.16% | Shares |
| CONGRESS ASSET MANAGEMENT CO | $17,470,765 | 124,223 | 0.16% | Shares |
| Point72 (DIFC) Ltd | $17,449,255 | 109,551 | 0.16% | Shares |
| APG Asset Management N.V. | $16,700,892 | 135,766 | 0.16% | Shares |
| JANE STREET GROUP, LLC | $16,440,816 | 116,900 | 0.16% | Call option |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $16,150,816 | 114,838 | 0.15% | Shares |
| Distillate Capital Partners LLC | $16,017,208 | 113,888 | 0.15% | Shares |
| ARGENT CAPITAL MANAGEMENT LLC | $15,737,500 | 111,899 | 0.15% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $15,191,370 | 108,016 | 0.14% | Shares |
| Aberdeen Group plc | $15,143,693 | 107,677 | 0.14% | Shares |
| AVIVA PLC | $15,002,491 | 106,673 | 0.14% | Shares |
| PZENA INVESTMENT MANAGEMENT LLC | $14,108,583 | 100,317 | 0.13% | Shares |
| NICHOLAS COMPANY, INC. | $13,976,803 | 99,380 | 0.13% | Shares |
| Makaira Partners LLC | $13,620,000 | 100,000 | 0.13% | Shares |
| AustralianSuper Pty Ltd | $12,901,048 | 91,731 | 0.12% | Shares |
| HARRIS ASSOCIATES L P | $12,488,832 | 88,800 | 0.12% | Shares |
| MILLENNIUM MANAGEMENT LLC | $12,462,814 | 88,615 | 0.12% | Shares |
| ROYAL LONDON ASSET MANAGEMENT LTD | $12,383,632 | 88,052 | 0.12% | Shares |
| Mediolanum International Funds Ltd | $12,364,283 | 88,430 | 0.12% | Shares |
| Crossmark Global Holdings, Inc. | $11,431,233 | 81,280 | 0.11% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $11,096,496 | 78,900 | 0.10% | Shares |
| JANE STREET GROUP, LLC | $11,000,720 | 78,219 | 0.10% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $10,732,238 | 76,310 | 0.10% | Shares |
| JANUS HENDERSON GROUP PLC | $10,533,460 | 87,039 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $10,436,332 | 74,206 | 0.10% | Shares |
Company insiders 41 insiders · 24 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Christine A Leahy | Chair, President, and Chief Executive Officer | June 10, 2026 A | 193,655 | 1 | 0 | $499,422 |
| Albert Joseph Miralles JR | Chief Financial Officer and Executive Vice President, Enterprise Business Operations | June 10, 2026 A | 47,344 | 0 | 0 | $0 |
| Collin B. Kebo | Senior Vice President and Chief Financial Officer | Aug. 16, 2021 S | 29,710 | 0 | 0 | $0 |
| Elizabeth H. Connelly | Chief Commercial Officer and Executive Vice President | Aug. 7, 2026 M | 34,215 | 0 | 1 | $-3,673,766 |
| Hang Tan | Chief Strategy & Transformation Officer and EVP | June 10, 2026 A | 33,967 | 0 | 0 | $0 |
| Mukesh Kumar | Chief Services & Solutions Officer and Executive Vice President | June 10, 2026 A | 21,678 | 0 | 0 | $0 |
| Katherine Elizabeth Sanderson | Chief Human Resources Officer and Executive Vice President, Coworker Success | June 10, 2026 A | 24,499 | 0 | 0 | $0 |
| Peter R Locy | Senior Vice President, Controller, and Chief Accounting Officer | June 10, 2026 A | 5,921 | 0 | 0 | $0 |
| Frederick J. Kulevich | Chief Legal Officer, Executive Vice President, Risk and Compliance, and Corporate Secretary | June 10, 2026 A | 44,640 | 0 | 0 | $0 |
| Sona Chawla | Chief Growth and Innovation Officer and Executive Vice President | Sept. 10, 2025 A | 35,510 | 0 | 0 | $0 |
| Christina M Corley | Chief Commercial and Operating Officer | Sept. 10, 2024 A | 75,294 | 0 | 0 | $0 |
| Carolyn Wiesenhahn | Chief People Officer and Senior Vice President, Coworker Success | Sept. 13, 2023 F | 1,903 | 0 | 0 | $0 |
| Ilaria Mocciaro | Vice President, Controller and Chief Accounting Officer | March 10, 2022 A | 1,129 | 0 | 0 | $0 |
| Matthew A. Troka | Senior Vice President - Product and Partner Management | May 13, 2020 M | 62,457 | 0 | 0 | $0 |
| Jill M. Billhorn | Senior Vice President - Corporate Sales | May 11, 2020 S | 14,930 | 0 | 0 | $0 |
| Douglas E Eckrote | Senior Vice President - Small Business Sales and eCommerce | May 11, 2020 S | 141,533 | 0 | 0 | $0 |
| Robert F. Kirby | Senior Vice President - Public Sales | March 9, 2020 A | 27,534 | 0 | 0 | $0 |
| Mark Chong | Senior Vice President - Strategy and Marketing | March 9, 2020 A | 11,997 | 0 | 0 | $0 |
| Neil B Fairfield | Vice President, Controller and Chief Accounting Officer | March 9, 2020 A | 6,505 | 0 | 0 | $0 |
| Christina V. Rother | Senior Vice President - Integrated Technology Solutions | March 9, 2020 A | 101,521 | 0 | 0 | $0 |
| Jonathan J Stevens | Senior Vice President - Operations and Chief Information Officer | March 9, 2020 A | 81,988 | 0 | 0 | $0 |
| Thomas E Richards | Executive Chairman | Dec. 17, 2019 M | 547,733 | 0 | 0 | $0 |
| Neal J. Campbell | Senior Vice President- Strategic Solutions and Services | June 15, 2018 M | 24,859 | 0 | 0 | $0 |
| Dennis G Berger | Senior Vice President and Chief Coworker Services Officer | Feb. 14, 2018 F | 73,868 | 0 | 0 | $0 |
| David W Nelms | Director | July 1, 2026 A | 51,415 | 1 | 0 | $2,005,740 |
| Joseph Swedish | Director | July 1, 2026 A | 20,202 | 0 | 0 | $0 |
| Kelly J Grier | Director | June 10, 2026 A | 4,062 | 0 | 0 | $0 |
| Anthony R Foxx | Director | June 10, 2026 A | 6,728 | 0 | 0 | $0 |
| Marc Ellis Jones | Director | June 10, 2026 A | 4,513 | 0 | 0 | $0 |
| Virginia C. Addicott | Director | June 10, 2026 A | 18,593 | 0 | 0 | $0 |
| Lynda M Clarizio | Director | June 10, 2026 A | 15,741 | 0 | 0 | $0 |
| James A Bell | Director | June 10, 2026 A | 26,358 | 0 | 0 | $0 |
| Paul J Finnegan | Director | March 10, 2023 A | 16,305 | 0 | 0 | $0 |
| Benjamin D Chereskin | Director | March 10, 2021 A | 28,386 | 0 | 0 | $0 |
| Barry K Allen | Director | March 10, 2021 A | 33,321 | 0 | 0 | $0 |
| Steven W Alesio | Director | March 10, 2021 A | 21,206 | 0 | 0 | $0 |
| Robin P Selati | Director | June 15, 2016 J | 1,051 | 0 | 0 | $0 |
| CREAMER GLENN M | Director | June 15, 2016 J | 139,963 | 0 | 0 | $0 |
| Donna F Zarcone | — | March 10, 2026 A | 22,958 | 0 | 0 | $0 |
| Sanjay Mehrotra | — | March 10, 2026 A | 6,391 | 0 | 0 | $0 |
| Ann Elizabeth Ziegler | — | Nov. 2, 2017 M | 35,830 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 173 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| TDV · ProShares Trust | 2.14% | 49,363 NS | May 31, 2026 | N-PORT |
| SMRI · EA Series Trust | 2.09% | 82,427 NS | April 30, 2026 | N-PORT |
| CSMD · Professionally Managed Portfolios | 1.40% | 44,428 NS | April 30, 2026 | N-PORT |
| RSPT · Invesco Exchange-Traded Fund Trust | 1.36% | 585,461 SH | Aug. 8, 2026 | Daily |
| DIVB · iShares Trust | 1.35% | 168,503 SH | Aug. 8, 2026 | Daily |
| ABCS · EA Series Trust | 0.99% | 890 NS | May 29, 2026 | N-PORT |
| FXL · First Trust Exchange-Traded AlphaDE… | 0.97% | 105,105 NS | April 30, 2026 | N-PORT |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 0.84% | 72,831 SH | Aug. 8, 2026 | Daily |
| MMID · MFS Active Exchange Traded Funds Tr… | 0.62% | 1,687 NS | May 31, 2026 | N-PORT |
| FWD · AB Active ETFs, Inc. | 0.54% | 123,626 NS | May 31, 2026 | N-PORT |
| BSCQ · Invesco Exchange-Traded Self-Indexe… | 0.50% | 17,713,000 | Aug. 8, 2026 | Daily |
| TDVI · First Trust Exchange-Traded Fund IV | 0.45% | 13,885 NS | April 30, 2026 | N-PORT |
| KRMA · Global X Funds | 0.45% | 4,326 NS | May 31, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 0.40% | 529,536 NS | April 30, 2026 | N-PORT |
| QQWZ · Pacer Funds Trust | 0.40% | 1,353 NS | April 30, 2026 | N-PORT |
| IETC · iShares U.S. ETF Trust | 0.40% | 19,655 SH | Aug. 8, 2026 | Daily |
| FTA · First Trust Exchange-Traded AlphaDE… | 0.39% | 37,295 NS | April 30, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.38% | 1,860,080 SH | Aug. 8, 2026 | Daily |
| SZNE · Pacer Funds Trust | 0.36% | 348 NS | April 30, 2026 | N-PORT |
| ROUS · Lattice Strategies Trust | 0.31% | 13,281 NS | April 30, 2026 | N-PORT |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.28% | 30,453 NS | April 30, 2026 | N-PORT |
| SIZE · iShares Trust | 0.26% | 7,897 SH | Aug. 8, 2026 | Daily |
| AFLG · First Trust Exchange-Traded Fund VI… | 0.25% | 13,132 NS | May 31, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.25% | 13,529 NS | April 30, 2026 | N-PORT |
| IMCV · iShares Trust | 0.25% | 20,479 SH | Aug. 8, 2026 | Daily |
| BFOR · ALPS ETF Trust | 0.25% | 4,255 NS | May 31, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.24% | 32,597 SH | Aug. 8, 2026 | Daily |
| DFVE · DoubleLine ETF Trust | 0.23% | 510 NS | March 31, 2026 | N-PORT |
| GSEW · Goldman Sachs ETF Trust | 0.22% | 31,316 NS | May 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.21% | 2,930,282 SH | Aug. 8, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.20% | 1,434,148 SH | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.19% | 1,973 NS | April 30, 2026 | N-PORT |
| EQIN · Columbia ETF Trust I | 0.19% | 3,912 NS | April 30, 2026 | N-PORT |
| IWS · iShares Trust | 0.17% | 193,176 SH | Aug. 8, 2026 | Daily |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.17% | 5,496 NS | May 31, 2026 | N-PORT |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.16% | 205,000 | Aug. 8, 2026 | Daily |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.16% | 4,306,000 | Aug. 8, 2026 | Daily |
| BSCT · Invesco Exchange-Traded Self-Indexe… | 0.16% | 4,824,000 | Aug. 8, 2026 | Daily |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.15% | 82,491 NS | April 30, 2026 | N-PORT |
| ESUM · Strategy Shares | 0.15% | 1,660 NS | April 30, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.13% | 174,634 NS | April 30, 2026 | N-PORT |
| GSLC · Goldman Sachs ETF Trust | 0.13% | 164,546 NS | May 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.13% | 520,240 SH | Aug. 8, 2026 | Daily |
| IMCB · iShares Trust | 0.12% | 14,710 SH | Aug. 8, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.12% | 1,501,982 SH | Aug. 8, 2026 | Daily |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.12% | 86,187 SH | Aug. 8, 2026 | Daily |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.12% | 1,498 NS | May 31, 2026 | N-PORT |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.11% | 4,135,000 | Aug. 8, 2026 | Daily |
| EGLE · Global X Funds | 0.11% | 16 NS | April 30, 2026 | N-PORT |
| DUHP · Dimensional ETF Trust | 0.11% | 87,426 NS | April 30, 2026 | N-PORT |