DFIN

MKT CAP:$1B

Donnelley Financial Solutions, Inc.

Market Cap

$1B

Financial Services·Financial - Capital Markets·🇺🇸 United States·NYSE

Financials·Financial·🇺🇸·NYSE

Stock Price

$50.57+$4.94 (+10.83%)

Apr 24, 2026

Company Details

Donnelley Financial Solutions, Inc. operates as a risk and compliance solutions company worldwide. The company operates through four segments: Capital Markets Software Solutions (CM-SS), Capital Markets Compliance and Communications Man...

CEO

Daniel N. Leib

IPO Date

Sep 26, 2016

Website

www.dfinsolutions.com

Key Metrics TTM

Revenue

$767M

-1.9% YoY

Net Income

$32M

EPS (Diluted)

$1.07

Free Cash Flow

$105M

Revenue / Share

$27.20

Gross Margin

63.4%

Operating Margin

18.4%

Net Margin

4.2%

FCF Margin

13.6%

P/S

1.9x

P/E

44.3x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Feb 17, 2026

$767M-1.9%EPS $1.15

Q4 2025

Feb 17, 2026

$173M+10.4%EPS $0.23

Q3 2025

Oct 29, 2025

$175M-2.3%EPS -$1.49

Q2 2025

Jul 31, 2025

$218M-10.1%EPS $1.28

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$211M	$101M	$36M
Q2 22	$266M	$143M	$66M
Q3 22	$189M	$93M	$29M
Q4 22	$168M	$79M	$21M
Q1 23	$199M	$96M	$25M
Q2 23	$242M	$130M	$53M
Q3 23	$180M	$95M	$30M
Q4 23	$177M	$87M	$17M
Q1 24	$203M	$109M	$37M
Q2 24	$243M	$142M	$66M
Q3 24	$180M	$94M	$20M
Q4 24	$156M	$79M	$11M
Q1 25	$201M	$114M	$48M
Q2 25	$218M	$124M	$54M
Q3 25	$175M	$95M	$28M
Q4 25	$173M	$154M	$12M

Valuation

Quarter	P/S	P/E
Q1 22	1.5x	10.5x
Q2 22	1.5x	10.2x
Q3 22	1.6x	12.2x
Q4 22	1.7x	14.0x
Q1 23	1.7x	15.6x
Q2 23	1.8x	17.2x
Q3 23	1.8x	17.4x
Q4 23	1.8x	17.4x
Q1 24	1.8x	14.4x
Q2 24	1.8x	13.5x
Q3 24	1.8x	14.8x
Q4 24	1.8x	15.5x
Q1 25	1.8x	15.9x
Q2 25	1.9x	17.5x
Q3 25	1.9x	44.1x
Q4 25	1.9x	44.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$52M	-$62M
Q2 22	$46M	$31M
Q3 22	$83M	$69M
Q4 22	$73M	$59M
Q1 23	-$52M	-$62M
Q2 23	$20M	$7M
Q3 23	$81M	$61M
Q4 23	$75M	$56M
Q1 24	-$28M	-$40M
Q2 24	$56M	$37M
Q3 24	$86M	$67M
Q4 24	$56M	$41M
Q1 25	-$38M	-$51M
Q2 25	$68M	$52M
Q3 25	$74M	$59M
Q4 25	$57M	$45M

Capital Expenditures

Quarter	CapEx
Q1 22	$10M
Q2 22	$15M
Q3 22	$15M
Q4 22	$15M
Q1 23	$11M
Q2 23	$13M
Q3 23	$19M
Q4 23	$19M
Q1 24	$12M
Q2 24	$19M
Q3 24	$19M
Q4 24	$15M
Q1 25	$13M
Q2 25	$17M
Q3 25	$15M
Q4 25	$12M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-14.0%	-9.7%
Q2 22	-0.5%	-1.2%
Q3 22	-23.8%	-11.4%
Q4 22	-28.0%	-20.4%
Q1 23	-5.9%	-0.9%
Q2 23	-9.1%	-5.7%
Q3 23	-4.6%	-5.8%
Q4 23	+5.2%	+8.4%
Q1 24	+2.4%	-3.7%
Q2 24	+0.2%	-6.3%
Q3 24	-0.3%	+6.4%
Q4 24	-11.4%	-8.8%
Q1 25	-1.1%	-8.3%
Q2 25	-10.1%	-7.1%
Q3 25	-2.3%	-7.6%
Q4 25	+10.4%	+10.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	1.7%
Q2 22	$6M	2.2%
Q3 22	$4M	2.3%
Q4 22	$5M	3.2%
Q1 23	$4M	2.2%
Q2 23	$7M	2.8%
Q3 23	$6M	3.4%
Q4 23	$5M	3.1%
Q1 24	$5M	2.5%
Q2 24	$7M	3.0%
Q3 24	$7M	3.7%
Q4 24	$6M	3.8%
Q1 25	$6M	3.0%
Q2 25	$8M	3.4%
Q3 25	$7M	3.9%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	—	$65M
Q2 22	—	$78M
Q3 22	—	$64M
Q4 22	—	$59M
Q1 23	—	$71M
Q2 23	—	$76M
Q3 23	—	$65M
Q4 23	—	$70M
Q1 24	—	$73M
Q2 24	—	$76M
Q3 24	—	$74M
Q4 24	—	$68M
Q1 25	—	$66M
Q2 25	—	$70M
Q3 25	—	$67M
Q4 25	$14M	$75M

Revenue Segments

Quarter	Capital Markets Compliance And Communications Management	Capital Markets Software Solutions	Investment Companies Compliance And Communications Management	Investment Companies Software Solutions
Q1 22	$104M	$45M	$38M	$25M
Q2 22	$150M	$46M	$45M	$25M
Q3 22	$83M	$46M	$36M	$24M
Q4 22	$73M	$43M	$26M	$25M
Q1 23	$94M	$44M	$34M	$26M
Q2 23	$123M	$48M	$44M	$28M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$10M	$0	$10M
Q2 22	$18M	$0	$18M
Q3 22	$11M	$0	$11M
Q4 22	$34M	$0	$34M
Q1 23	$29M	$0	$29M
Q2 23	$19M	$0	$19M
Q3 23	$12M	$0	$12M
Q4 23	$23M	$0	$23M
Q1 24	$44M	$0	$44M
Q2 24	$35M	$0	$35M
Q3 24	$34M	$0	$34M
Q4 24	$57M	$0	$57M
Q1 25	$16M	$0	$16M
Q2 25	$34M	$0	$34M
Q3 25	$23M	$0	$23M
Q4 25	$25M	$0	$25M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	34M	-2.0%	-0.3%
Q2 22	32M	-5.8%	-6.1%
Q3 22	31M	-4.6%	-11.0%
Q4 22	31M	-0.6%	-12.5%
Q1 23	31M	-0.7%	-11.3%
Q2 23	30M	-0.3%	-6.2%
Q3 23	30M	-0.3%	-1.9%
Q4 23	31M	+1.0%	-0.3%
Q1 24	31M	-0.3%	0.0%
Q2 24	30M	-1.6%	-1.3%
Q3 24	30M	-0.3%	-1.3%
Q4 24	30M	+1.0%	-1.3%
Q1 25	30M	-2.3%	-3.3%
Q2 25	28M	-4.4%	-6.0%
Q3 25	29M	+1.1%	-4.7%
Q4 25	28M	-1.1%	-6.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$96.6K	2K
Q2 22	$121.8K	2K
Q3 22	$86.4K	2K
Q4 22	$78.0K	2K
Q1 23	$92.4K	2K
Q2 23	$112.6K	2K
Q3 23	$83.7K	2K
Q4 23	$92.9K	2K
Q1 24	$107.1K	2K
Q2 24	$127.7K	2K
Q3 24	$94.5K	2K
Q4 24	$86.8K	2K
Q1 25	$111.7K	2K
Q2 25	$121.2K	2K
Q3 25	$97.4K	2K
Q4 25	$98.6K	2K

Revenue / Employee