DFIN · Donnelley Financial Solutions, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $767.00M | $781.90M | $797.20M | $833.60M | $993.30M | $894.50M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $277.90M | $290.90M | $282.10M | $264.00M | $307.70M | $264.80M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $59.30M | $60.20M | $56.70M | $46.30M | $40.30M | $50.90M |
| Operating Income | $141.10M | $136.60M | $110.00M | $145.00M | $219.30M | $3.60M |
| Interest Expense | $12.90M | $12.90M | $15.80M | $9.20M | $26.60M | $22.80M |
| Income Tax | $10.70M | $32.70M | $19.80M | $36.80M | $51.90M | $8.40M |
| Net Income | $32.40M | $92.40M | $82.20M | $102.50M | $145.90M | ($25.90M) |
| EPS - Basic | $1.18 | $3.16 | $2.81 | $3.33 | $4.36 | ($0.76) |
| EPS - Diluted | $1.15 | $3.06 | $2.69 | $3.17 | $4.14 | ($0.76) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $24.50M | $57.30M | $23.10M | $34.20M | $54.50M | $73.60M |
| Accounts Receivable | $143.00M | $138.00M | $151.80M | $163.50M | $199.10M | $173.50M |
| Inventory | $5.60M | $4.40M | $4.70M | $7.90M | $5.60M | $4.90M |
| Accounts Payable | $23.70M | $28.70M | $33.90M | $49.20M | $36.30M | $54.20M |
| Current Assets | $211.40M | $232.50M | $208.50M | $228.40M | $279.70M | $267.20M |
| Total Assets | $800.40M | $841.60M | $806.90M | $828.30M | $883.30M | $865.60M |
| Current Liabilities | $200.00M | $224.10M | $201.60M | $224.80M | $261.40M | $238.50M |
| Long-term Debt | $165.50M | $124.70M | $124.50M | $169.20M | $124.00M | $230.50M |
| Total Liabilities | $421.20M | $405.50M | $404.70M | $498.80M | $506.30M | $617.80M |
| Stockholders' Equity | $379.20M | $436.10M | $402.20M | $329.50M | $377.00M | $247.80M |
| Retained Earnings | $560.90M | $528.50M | $436.10M | $353.90M | $251.40M | $105.50M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $164.90M | $171.10M | $124.00M | $150.20M | $180.00M | $154.20M |
| Investing Cash Flow | ($57.00M) | ($53.30M) | ($51.30M) | ($50.90M) | ($45.00M) | ($19.80M) |
| Financing Cash Flow | ($141.80M) | ($82.10M) | ($84.60M) | ($121.10M) | ($154.90M) | ($77.50M) |
| CapEx | $57.10M | $65.90M | $61.80M | $54.20M | $42.30M | $31.10M |
| Free Cash Flow | $107.80M | $105.20M | $62.20M | $96.00M | $137.70M | $123.10M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 18.4% | 17.5% | 13.8% | 17.4% | 22.1% | 0.4% |
| EBITDA margin | 26.1% | 25.2% | 20.9% | 22.9% | 26.1% | 6.1% |
| Net margin | 4.2% | 11.8% | 10.3% | 12.3% | 14.7% | -2.9% |
| Free cash flow margin | 14.1% | 13.5% | 7.8% | 11.5% | 13.9% | 13.8% |
| FCF / Net income | 3.33 | 1.14 | 0.76 | 0.94 | 0.94 | -4.75 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 36.2% | 37.2% | 35.4% | 31.7% | 31.0% | 29.6% |
| Effective tax rate | 24.8% | 26.1% | 19.4% | 26.4% | 26.2% | - |
| Return on assets | 4.0% | 11.0% | 10.2% | 12.4% | 16.5% | -3.0% |
| Return on equity | 8.5% | 21.2% | 20.4% | 31.1% | 38.7% | -10.5% |
| Return on invested capital | 19.5% | 18.0% | 16.8% | 21.4% | 32.3% | 0.6% |
| Liquidity | ||||||
| Current ratio | 1.06 | 1.04 | 1.03 | 1.02 | 1.07 | 1.12 |
| Quick ratio | 1.03 | 1.02 | 1.01 | 0.98 | 1.05 | 1.10 |
| Cash ratio | 0.12 | 0.26 | 0.11 | 0.15 | 0.21 | 0.31 |
| Leverage | ||||||
| Debt / Equity | 0.44 | 0.29 | 0.31 | 0.51 | 0.33 | 0.93 |
| Debt / Assets | 0.21 | 0.15 | 0.15 | 0.20 | 0.14 | 0.27 |
| Debt / EBITDA | 0.83 | 0.63 | 0.75 | 0.88 | 0.48 | 4.23 |
| Interest coverage | 10.9x | 10.6x | 7.0x | 15.8x | 8.2x | 0.2x |
| Equity multiplier | 2.11 | 1.93 | 2.01 | 2.51 | 2.34 | 3.49 |
| Liabilities / Assets | 0.53 | 0.48 | 0.50 | 0.60 | 0.57 | 0.71 |
| Efficiency | ||||||
| Asset turnover | 0.96 | 0.93 | 0.99 | 1.01 | 1.12 | 1.03 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 68d | 64d | 70d | 72d | 73d | 71d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 40.6x | 20.5x | 23.2x | 12.2x | 11.4x | - |
| P / B | 3.5x | 4.3x | 4.7x | 3.8x | 4.4x | 2.3x |
| P / S | 1.7x | 2.4x | 2.4x | 1.5x | 1.7x | 0.6x |
| EV / EBITDA | 7.3x | 10.0x | 12.1x | 7.2x | 6.7x | 13.4x |
| Growth | ||||||
| Revenue growth (YoY) | -1.9% | -1.9% | -4.4% | -16.1% | 11.0% | 2.3% |
| Revenue CAGR (3y) | -2.7% | -7.7% | -3.8% | -1.6% | 0.3% | -3.8% |
| Revenue CAGR (5y) | -3.0% | -2.2% | -4.1% | -3.7% | 0.2% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 3.3% | 24.2% | -24.1% | -33.9% | 5991.7% | -95.4% |
| Net income growth (YoY) | -64.9% | 12.4% | -19.8% | -29.7% | - | - |
| EPS growth (YoY) | -62.4% | 13.8% | -15.1% | -23.4% | - | - |
| EPS CAGR (3y) | -28.7% | -9.6% | - | 42.3% | 24.2% | - |
| EPS CAGR (5y) | - | 22.7% | 4.5% | 61.3% | 18.1% | - |
| FCF growth (YoY) | 2.5% | 69.1% | -35.2% | -30.3% | 11.9% | 1169.1% |
| FCF CAGR (5y) | -2.6% | 61.1% | -2.0% | 8.6% | 11.5% | - |
| Book value growth (YoY) | -13.0% | 8.4% | 22.1% | -12.6% | 52.1% | -7.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$767.00M totalCapital Markets Compliance And Communications Management$296.20M · 38.6%
Capital Markets Software Solutions$230.00M · 30.0%
Investment Companies Software Solutions$128.40M · 16.7%
Investment Companies Compliance And Communications Management$112.40M · 14.7%
Product / service
$767.00M totalSoftware Solutions$358.40M · 46.7%
Technology Service$298.30M · 38.9%
Print And Distribution Service$110.30M · 14.4%
Geographic
$767.00M totalUS$684.80M · 89.3%
Europe$29.50M · 3.8%
CA$26.10M · 3.4%
Asia$24.70M · 3.2%
Other Geographic Area$1.90M · 0.2%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.49
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Miscellaneous Business Services
Comparing Donnelley Financial Solutions against the 5 most active filers in the same SIC group.