CDW Corporation
CDW
pitch
long
Unison Asset Management
Thesis
CDW is the largest value-added reseller of IT products to small and medium-sized businesses in the U.S., consistently earning returns on capital in excess of 25% due to its low capital intensity. With a fragmented market and a small market share of around 5%, CDW has ample opportunity for organic growth, having outgrown the market by over 200 basis points per year since 2006.
Did it work?
inconclusive
confidence: low
Without specific price performance data or a defined time horizon for the thesis, it's difficult to assess whether the investment thesis for CDW has played out. The thesis highlights strong fundamentals and growth potential, but without concrete evidence of price movement or market developments, the outcome remains uncertain.
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