CDW’s Cloud Takeover: Can It Dominate In The SaaS Domain? 

CDW’s fourth-quarter and full-year results for 2024 exhibit a mixed performance amid challenging market conditions. On the positive side, CDW reported fourth-quarter net sales of $5.2 billion, demonstrating a 5% growth compared to 2023 on an average daily sales basis. This growth in sales was driven by an uptick in hardware demand, particularly in areas like client devices, networking communication (NetComm), and storage, which increased by mid-single digits. Additionally, the company’s non-GAAP gross margin held strong at 22.3%, which was the highest margin of the year, although it was slightly below the previous year’s figure. Notably, CDW reported a full-year adjusted free cash flow of over $1 billion, allowing it to sustain its capital allocation priorities, including a significant $832 million returned to shareholders via dividends and share repurchases.