Name: Working Capital Turnover

Definition: Working capital turnover shows how efficiently the company uses its short-term resources — like cash, inventory, and receivables — to generate sales. Higher turnover means the company squeezes more sales from its working capital. Lower turnover may indicate inefficient inventory, slow collections, or too much short-term capital tied up unnecessarily.

Interpretation:
• In '2021', CDW's working capital turnover was 15.06, showing how efficiently working capital is deployed. Industry average for Catalog/Specialty Distribution in '2021' stood at 4.40.
• In '2022', CDW's working capital turnover was 15.84, showing how efficiently working capital is deployed. The increase since '2021' reflects strengthening financial performance. Industry average for Catalog/Specialty Distribution in '2022' stood at 3.51. Industry average declined by 0.89 from previous year.
• In '2023', CDW's working capital turnover was 14.85, showing how efficiently working capital is deployed. The decline from '2022' may indicate some operational or financial challenges. Industry average for Catalog/Specialty Distribution in '2023' stood at 4.24. Industry average increased by 0.73 compared to previous year.
• In '2024', CDW's working capital turnover was 13.28, showing how efficiently working capital is deployed. The decline from '2023' may indicate some operational or financial challenges. Industry average for Catalog/Specialty Distribution in '2024' stood at 2.34. Industry average declined by 1.90 from previous year.
Overall, CDW's working capital turnover has consistently declined during the past 4 years.

Formula: Working Capital Turnover = Net Sales / Working Capital

Good Range: Ranges 5-20 depending on business.