• CDW average return on tangible equity for 2023 was -26.53, a 17.96% increase from 2022.
• CDW average return on tangible equity for 2022 was -22.49, a 48.13% increase from 2021.
• CDW average return on tangible equity for 2021 was -43.36, a 13.63% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.