Positioning political buying, disclosed 2026-08-19
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price146.41 USD
Fair value171.00
Ethical score10.0/100
RatingAVOID
Our investment reviews on this name
2026-08-24Read Markup137.25+6.7% to today ✓
2026-07-02Read Distribution133.04+10.0% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
CDW Corporation holds its Markup at $146.41. Consolidating, no directional conviction, held for 44 days.
As held on the ledger · 2026-09-21
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 44 days
Price at the screen
$146.41
Valuation
17.60 trailing · 12.15 forward price to earnings
Values screen
FAIL· score 10.0
Beta
0.94
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
36.11%
Below 33%
Interest-bearing debt is 36.1% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
43.24%
Below 49%
Money owed to the company is 43.2% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID: it trades at roughly a 17% discount to our $171.00 fair value, weak competitive moat, 10.00% revenue growth.
Fair value range in USD, drawn from the 2026-09-21 screen. The gold marker is the market price at the same screen. A 16.8% margin of safety to the base estimate.
Third-party analyst targets: 9 covering, consensus Buy. The average target sits +9% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-21 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
IT middleman tripped up by its own borrowing
Picture a school district or mid-sized firm ordering servers and software licences. CDW sits in the middle, sourcing the kit and handling the paperwork. It moves at a steady nine per cent revenue growth, posts a forty-four per cent return on equity and trades on eleven times forward earnings, yet the business carries a balance sheet the ethical screen rejects outright.
We pass for that single reason. High debt levels breach our basic test, and a weak moat leaves little protection if hardware margins keep compressing or government budgets tighten. The thirty-one per cent gap to our fair value and the buy-rated analyst targets do not change the starting point.
Even strong returns can mask leverage that becomes painful in any slowdown. Analysis, not advice.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CDW trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-24Markup · changed$137.25+3.0%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 3.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (10 analysts) rates it buy, with a mean price target of $147.
2026-07-24Distribution$133.24+0.2%Entry 4
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 0.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (10 analysts) rates it buy, with a mean price target of $147.
2026-07-18Distribution$133.04+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 26%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (10 analysts) rates it buy, with a mean price target of $147.
2026-07-03Distribution$133.04+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$133.04Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
