$CDW Corp (CDW.US)$Since valuations were excluded from the 2...

The US company, which was listed in 2013, is mainly in the IT solutions business. The main market is in the US, and the current price is 223.39.

In the past 5 years, revenue grew in the first 4 years, shrank 10% in 2023, with an average growth rate of 5.6%, operating profit shrank 3.1% in 2023, an average growth rate of 11.2%, and net profit shrank 0.9% in 2023, with an average growth rate of 11.4%.

Revenue contracted 4.5% in 2024Q1. This is the 5th consecutive quarter of contraction. Operating profit shrank 7.7%, and net profit shrank 6.1%. The growth appears to have ended.

Goodwill increased dramatically in 2021, from $3.04 billion to $6.01 billion, indicating that there were acquisitions. This explains the rapid increase in revenue and profit over the two years that occurred during the acquisition. Usually, acquisition-driven growth time is limited, and there may be depreciation pressure later. This was reflected in the past 5 quarters.

Currently, the price-earnings ratio is 27.6, and the price-earnings ratio is TTM 27.9. Even if you look at the average growth rate in the past 5 years, the valuation is in a reasonably high range, which is not very attractive.