CDW (BSP:C1DW34) Cyclically Adjusted PB Ratio: 12.16 (As of Aug. 15, 2026) — 46% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:C1DW34 CDW Corp BSP:C1DW34
18 GF Score
Price R$35.50
GF Value R$53.69
Valuation Significantly Undervalued
! 2 Warning Signs
View Full Analysis

What is CDW Cyclically Adjusted PB Ratio?

CDW BSP:C1DW34 18 Cyclically Adjusted PB Ratio is 12.16 as of Aug. 15, 2026, which is 46% below its 10-year median of 22.55. GuruFocus rates BSP:C1DW34 with a GF Score™ of 18/100 and a GF Value™ of R$53.69 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,552 Software companies, CDW ranks worse than 92.33% on this metric.

As of today (2026-08-15), CDW's current share price is R$35.50. CDW's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was R$2.92. CDW's Cyclically Adjusted PB Ratio for today is 12.16.

The historical rank and industry rank for CDW's Cyclically Adjusted PB Ratio or its related term are showing as below:

BSP:C1DW34' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 5.05   Med: 22.55   Max: 33.45
Current: 11.56

During the past years, CDW's highest Cyclically Adjusted PB Ratio was 33.45. The lowest was 5.05. And the median was 22.55.

BSP:C1DW34's Cyclically Adjusted PB Ratio is ranked worse than
92.33% of 1552 companies
in the Software industry
Industry Median: 2.315 vs BSP:C1DW34: 11.56

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

CDW's adjusted book value per share data for the three months ended in Jun. 2026 was R$4.993. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is R$2.92 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


CDW  (BSP:C1DW34) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


CDW Cyclically Adjusted PB Ratio Related Terms


CDW Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for CDW's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

CDW Cyclically Adjusted PB Ratio Chart

CDW Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 31.33 24.37 26.60 17.71 12.20

CDW Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 16.90 14.60 12.20 10.38 11.66

BSP:C1DW34 vs BR, LDOS, FIS: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, CDW's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


CDW Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, CDW's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where CDW's Cyclically Adjusted PB Ratio falls into.


BSP:C1DW34
18GF Score
CDW Corp BSP:C1DW34
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CDW Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

CDW's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=35.50/2.92
=12.16

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

CDW's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, CDW's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=4.993/333.9520*333.9520
=4.993

Current CPI (Jun. 2026) = 333.9520.

CDW Quarterly Data

Book Value per Share CPI Adj_Book
201609 1.004 241.428 1.389
201612 1.094 241.432 1.513
201703 0.898 243.801 1.230
201706 0.899 244.955 1.226
201709 0.826 246.819 1.118
201712 1.061 246.524 1.437
201803 1.076 249.554 1.440
201806 1.330 251.989 1.763
201809 1.580 252.439 2.090
201812 1.282 251.233 1.704
201903 1.217 254.202 1.599
201906 1.245 256.143 1.623
201909 1.338 256.759 1.740
201912 1.378 256.974 1.791
202003 1.527 258.115 1.976
202006 1.920 257.797 2.487
202009 2.342 260.280 3.005
202012 2.351 260.474 3.014
202103 2.349 264.877 2.962
202106 1.907 271.696 2.344
202109 1.622 274.310 1.975
202112 1.480 278.802 1.773
202203 1.645 287.504 1.911
202206 2.065 296.311 2.327
202209 2.569 296.808 2.890
202212 3.103 296.797 3.491
202303 3.027 301.836 3.349
202306 2.922 305.109 3.198
202309 3.335 307.789 3.618
202312 3.731 306.746 4.062
202403 3.962 312.332 4.236
202406 4.384 314.175 4.660
202409 4.884 315.301 5.173
202412 5.412 315.605 5.727
202503 5.078 319.799 5.303
202506 5.218 322.561 5.402
202509 5.227 324.800 5.374
202512 5.494 324.054 5.662
202603 5.221 330.213 5.280
202606 4.993 333.952 4.993

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 12.16 mean?
CDW (BSP:C1DW34) has a Cyclically Adjusted PB Ratio of 12.16 as of Aug. 15, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on CDW and its competitors. This is 46% below median its historical median of 22.55. Over the past decade, CDW's Cyclically Adjusted PB Ratio has ranged from 5.05 to 33.45. According to the industry distribution chart, CDW ranks #1433 out of 1552 companies in the Software industry, placing it in the top 92.3%.
Is CDW's Cyclically Adjusted PB Ratio too high?
CDW's current Cyclically Adjusted PB Ratio of 12.16 is 46% below median its 10-year median of 22.55. Over the past 10 years, this metric has ranged from a low of 5.05 to a high of 33.45. The Software industry median Cyclically Adjusted PB Ratio is 2.32. CDW's value of 12.16 is 425.3% above this industry median. Based on the distribution chart, CDW ranks #1433 out of 1552 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, CDW has a GF Score™ of 18/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CDW's Cyclically Adjusted PB Ratio compare to BR and LDOS?
According to the Software industry distribution chart, CDW ranks #1433 out of 1552 companies for Cyclically Adjusted PB Ratio. This places CDW in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.32. CDW's value of 12.16 is 425.3% above this benchmark. Historically, CDW's own Cyclically Adjusted PB Ratio has ranged from 5.05 to 33.45 over the past decade. While the company's 10-year median is 22.55 vs. the industry median of 2.32, CDW has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Software company?
The median Cyclically Adjusted PB Ratio among Software companies is 2.32, based on 1,552 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. CDW's current Cyclically Adjusted PB Ratio of 12.16 is 425.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on CDW and its competitors. For the Software industry, the median Cyclically Adjusted PB Ratio is 2.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CDW's current Cyclically Adjusted PB Ratio is 12.16, which is 46% below median its own 10-year median of 22.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CDW stock overvalued right now?
Based on GuruFocus' analysis, CDW (BSP:C1DW34) is currently considered Significantly Undervalued. The stock's GF Value™ is R$53.69, compared to a current price of R$35.50 — trading 33.9% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 12.16, which is 46% below median its 10-year median of 22.55 and 425.3% above the Software industry median of 2.32. CDW's overall GF Score™ is 18/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For CDW (BSP:C1DW34), the current Cyclically Adjusted PB Ratio is 12.16 as of Aug. 15, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is CDW (BSP:C1DW34) Overvalued in 2026?

Based on GuruFocus' analysis, CDW stock appears to be undervalued. The current stock price of R$35.50 is trading 33.9% below its estimated GF Value™ of R$53.69. GuruFocus considers CDW to be Significantly Undervalued.

Key valuation signals for BSP:C1DW34:

  • Cyclically Adjusted PB Ratio: 12.16 (46% below median its 10-year median of 22.55)
  • GF Value™: R$53.69 vs. price of R$35.50 (33.9% below fair value)
  • GF Score™: 18/100 with 2 warning signs
  • Industry Position: 425.3% above the Software median (#1433 of 1552)

No single metric tells the full story. See the BSP:C1DW34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CDW Business Description

Address 200 North Milwaukee Avenue, Vernon Hills, IL, USA, 60061
CDW Corp is a multi-brand provider of information technology (IT) solutions to businesses, government, education, and healthcare customers in the United States, the United Kingdom, and Canada. The company's offerings range from hardware and software products to integrated IT solutions and services, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security. Its reportable segments are Corporate, Small Business, Public, and Other. The Corporate and Small Business segments serve US private sector business customers, while the Public segment consists of government agencies and education and healthcare institutions in the US. The Corporate segment generates the majority of its revenue in the United States.
18GF Score

Get the complete analysis for BSP:C1DW34

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$35.50
Price
R$53.69
GF Value