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Donnelley Financial Solutions, Inc. (DFIN) stock

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NYSE: DFIN NYSE Diversified Support Services Next results ~January 22, 2027

B+ Fundamentals grade

Donnelley Financial Solutions, Inc. is a US-listed company in the diversified support services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$76

Cash-flow model

Base case. Range ~$56–$100 across our lower- and higher-growth cases (-2.6%–7.4% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 11% below our base value.

Price used: $67.75, November 2, 2026

Donnelley Financial Solutions, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 3 selling3 purchases and 7 sales by directors and officers, last 12 monthsInsider trades
  • Funds110 adding, 119 cuttingOf 45 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Donnelley Financial Solutions files

10-Q filed October 29: Donnelley Financial Solutions

Donnelley Financial Solutions grew revenue 4.8% year-on-year to $787m in the twelve months to September 2026, an acceleration from 3.0% growth a quarter earlier. Free-cash-flow margin climbed to 22.7%, well above the 13.5% recorded a year earlier. A 9.7% reduction in the diluted share count over the same period has also boosted the value attached to each remaining share. Reflecting this, the fundamentals grade improves from B to B+. Our model value is barely changed at $62.79 a share, close to the current price of $60.44, leaving the rating at Hold. At that price, the market appears to be pricing in cash-flow growth of about 1.2% a year over five years, outpacing the -4.5% a year revenue growth actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Donnelley Financial Solutions stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $778m, up 3.0% on a year earlier, against a decline of 1.1% a quarter earlier. That puts it 15 of 18 for growth among the diversified support services companies we cover. Free-cash-flow margin rose to 19.6% from 14.5% a year earlier. Operating margin widened to 18.9% from 16.7%. The diluted share count is down 9.6% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 4 of our 7 financial-health checks. Our cash-flow model value is $62.79 a share, against a share price of $60.45. At that price, our model says the market is pricing in about 1.4% a year of cash-flow growth for five years, faster than the -4.8% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 22, 2027 (estimated)

Donnelley Financial Solutions, Inc.'s trailing-twelve-month revenue grew 4.8% year on year, with a free-cash-flow margin of 22.7%. Where it stands out: change in share count of -9.7% ranks 2 of 28 diversified support services companies we cover.

Our discounted-cash-flow model values the business at ~$76 per share in the base case (~$56–$100 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 76.8% while net income grew 199.7%: a 123pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Strong cash generation. 22.7% of revenue turned into free cash flow, against a median of 4.1% for diversified support services companies we cover.
  • Shrinking share count. Diluted shares fell 9.7% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 48% and a beta of 0.5 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 4.4% ranks 20 of 26 diversified support services companies we cover (median 1.4%).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$1.07 against an average estimate of $0.84: beat by 26.9%
Revenue
$185m, up 5.5% on a year earlier
Share reaction
+25.9% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
total net sales $175m to $180m (fourth quarter of 2026); adjusted EBITDA margin 26% to 27% (fourth quarter of 2026)
Next report
October 29, 2026; average EPS estimate $0.75

Donnelley Financial Solutions' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.3%
  • 1 week+25.0%
  • 1 month+45.5%
  • This year+45.1%
  • 1 year+47.4%
  • 5 years+58.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$787M
Operating margin
19.2%
Net margin
12.4%
EPS (TTM, diluted)
$3.74

Growth

Revenue growth
+4.8%
Change in growth rate
+1.9 pts
Share count change
−9.7%

Cash

Free cash flow (TTM)
$179M
FCF margin
22.7%
Stock pay % of revenue
4.4%

Earnings

Last results
October 29, 2026
Next results (est.)
January 22, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Donnelley Financial Solutions, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 0.4% a year of cash-flow growth for five years.That is close to the -4.5% a year revenue growth Donnelley Financial Solutions has delivered.

  • Priced in0.4%
  • Last 12 months4.8%
  • 3 years a year-0.1%
  • 5 years a year-4.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($67.00, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$76
Price used
$67.00close November 3, 2026
Implied change
▲ +13%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Donnelley Financial Solutions, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($116M, FY2026 Q3 TTM), growing 2.4% and 2.7% in the next two years (forecasts, guidance and its record), then back to 2.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$56–~$100 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Donnelley Financial Solutions, Inc.'s free cash flow after stock-based pay ( $116M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Donnelley Financial Solutions, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.88 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$76 ~$56–$100 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$70 ~$66–$130 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$79 ~$55–$120 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$54 ~$46–$65 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$71 ~$54–$79 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Donnelley Financial Solutions, Inc. with Diversified Support Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +67%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $64$88$120$163$219$291
8.5% $48$65$89$119$159$210
10% $38$52$69$93$123$162

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$22.98$19.49$14.03$10.47$16.97$47.14$38.65$62.37$62.73$46.69$67.75
Market value$754m$649m$477m$359m$575m$1.7bn$1.2bn$1.9bn$1.9bn$1.3bn$1.8bn
+ Net debt (− = net cash)$564m−$52m$325m$279m$157m$70m$135m$101m$67m$147m$100m
Enterprise value$1.3bn$597m$802m$638m$732m$1.7bn$1.4bn$2.0bn$2.0bn$1.5bn$1.9bn
Multiples
Price / sales 0.8x0.6x0.5x0.4x0.6x1.7x1.5x2.4x2.4x1.7x2.2x
Price / earnings 12.8x66.9x6.5x9.6x—11.4x12.2x23.2x20.5x40.6x18.1x
Price / free cash flow 9.4x10.2x16.3x37.0x4.7x12.1x13.0x30.7x18.0x12.2x9.9x
EV / EBITDA 8.9x4.3x4.8x5.0x13.4x6.7x7.2x12.1x10.0x7.3x8.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

62 /100

Moderate moat

How hard Donnelley Financial Solutions's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Net income has been a median 7.0% of total assets over 10 years.

  • Durability 8 / 20

    Operating margin has been a median 15.2%; its worst year was 4.3%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 10.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 23.8% over five years; stock-based pay has been a median 2.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (66 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.81 +53% $781m +2%
Next $5.46 +13% $808m +4%

Next year's EPS estimate has moved +3.7% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.0% on 90 days ago. In the last 30 days, 0 analysts raised Donnelley Financial Solutions, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Donnelley Financial Solutions, Inc., last 90 days
$4.60 $4.80 $5.00 $5.20 $5.40 $5.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.76 Current fiscal year, 60 days ago: $4.82 Current fiscal year, 30 days ago: $4.82 Current fiscal year, 7 days ago: $4.82 Current fiscal year, Now: $4.81 $4.81 Next fiscal year, 90 days ago: $5.26 Next fiscal year, 60 days ago: $5.46 Next fiscal year, 30 days ago: $5.46 Next fiscal year, 7 days ago: $5.46 Next fiscal year, Now: $5.46 $5.46

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.76$5.26
60 days ago $4.82$5.46
30 days ago $4.82$5.46
7 days ago $4.82$5.46
Now $4.81$5.46

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.84 $1.07 +26.9%
Jun 2026 $1.63 $1.76 +7.8%
Mar 2026 $1.35 $1.45 +7.7%
Dec 2025 $0.41 $0.70 +70.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026
  • Total net sales fourth quarter of 2026 $175m to $180m New
    “Total net sales $175 million to $180 million” source
  • Adjusted EBITDA margin fourth quarter of 2026 26% to 27% Non-GAAP New
    “Adjusted EBITDA margin 26% to 27%” source
  • Capital markets transactional net sales fourth quarter of 2026 about $50m New
    “Capital markets transactional net sales $50 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Donnelley Financial Solutions, Inc.'s revenue by +2.4% next year and +2.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+1.9%, weight 37%) , management guidance (+2.9%, weight 37%) and the company's own record (+2.4%, weight 25%) . How the weights are set.

Analyst recommendations

3 analysts, Oct 2026
Buy3100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026213
  2. Sep 2026213
  3. Aug 2026213
  4. Jul 2026213

Counts of recommendations published by analysts covering Donnelley Financial Solutions, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.3%
of tradable shares
Days to cover
3.6
at average volume
Short interest, 1 month
−18%
to October 15, 2026
Held by institutions
96%
of shares
Held by insiders
5.5%
of shares
Employees
1,750
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +47.4%

$45.95 on October 31, 2025 to $67.75

ThenNowEffect
Revenue (last 12 months) $755m $778m +3.0%
Net margin 10.9% 4.5% −58.4%
P/E multiple 16.5x 51.3x +211.0%
Share count 30m 27m +10.6%

Biggest factor: p/e multiple.

Last 3 years +23.4%

$54.92 on November 3, 2023 to $67.75

ThenNowEffect
Revenue (last 12 months) $797m $778m −2.5%
Net margin 10.5% 4.5% −56.8%
P/E multiple 20.3x 51.3x +153.5%
Share count 31m 27m +15.6%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DFIN+178%−18%+61%+1%−26%+45%
Industry peers (median)+2%−9%+5%+5%−7%−17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DFIN83%50%75%42%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DFIN−21%−46%−27%−19%−45%−34%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 26, 2016: 86% from September 30, 2016 to March 25, 2020. Getting back needed a 604% gain, reached on March 10, 2021, 350 days after the low.

Price behaviour

52-week range
$36.74 – $67.75
From 52-week high
0.0%
vs 50-day average
+34.3%
vs 200-day average
+43.0%
Volatility (1 year)
48%
Beta vs S&P 500
0.51

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±13.8%
After a week
2 up, 9 down
typical move ±13.0%
After a month
2 up, 9 down
typical move ±12.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +25.9% −2.1% — —
July 30, 2026 −8.0% +2.4% −5.9% −6.0%
May 5, 2026 −15.1% +2.2% −19.8% −23.9%
February 17, 2026 +26.2% +0.7% +25.3% +17.9%
October 29, 2025 −11.7% −1.1% −10.5% −5.1%
October 23, 2025 +3.4% +1.4% −12.0% −10.0%
July 31, 2025 −20.0% −2.0% −17.7% −11.1%
April 30, 2025 +9.2% +0.7% +13.2% +17.4%
February 18, 2025 −26.4% +0.5% −24.2% −31.5%
October 31, 2024 −11.6% −1.5% −2.3% −6.2%
July 31, 2024 −7.0% +0.2% −11.7% −5.0%
May 1, 2024 −0.6% +0.6% −0.1% −2.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Donnelley Financial Solutions, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: no liquid put with an effective price at or below fair value.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Donnelley Financial Solutions, Inc. in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Donnelley Financial Solutions, Inc.
$740M $760M $780M $800M $820M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $797.2M Revenue (TTM), FY24 Q1: $802M Revenue (TTM), FY24 Q2: $802.6M Revenue (TTM), FY24 Q3: $802.1M Revenue (TTM), FY24 Q4: $781.9M Revenue (TTM), FY25 Q1: $779.6M Revenue (TTM), FY25 Q2: $755M Revenue (TTM), FY25 Q3: $750.8M Revenue (TTM), FY25 Q4: $767M Revenue (TTM), FY26 Q1: $771.4M Revenue (TTM), FY26 Q2: $777.5M Revenue (TTM), FY26 Q3: $787.2M $787.2M

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $797.2M
FY24 Q1 $802M
FY24 Q2 $802.6M
FY24 Q3 $802.1M
FY24 Q4 $781.9M
FY25 Q1 $779.6M
FY25 Q2 $755M
FY25 Q3 $750.8M
FY25 Q4 $767M
FY26 Q1 $771.4M
FY26 Q2 $777.5M
FY26 Q3 $787.2M
Revenue growth, TTM YoY Donnelley Financial Solutions, Inc.
-10% -5% 0% 5% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -4.4% Revenue growth, TTM YoY, FY24 Q1: -2.3% Revenue growth, TTM YoY, FY24 Q2: 0.7% Revenue growth, TTM YoY, FY24 Q3: 1.7% Revenue growth, TTM YoY, FY24 Q4: -1.9% Revenue growth, TTM YoY, FY25 Q1: -2.8% Revenue growth, TTM YoY, FY25 Q2: -5.9% Revenue growth, TTM YoY, FY25 Q3: -6.4% Revenue growth, TTM YoY, FY25 Q4: -1.9% Revenue growth, TTM YoY, FY26 Q1: -1.1% Revenue growth, TTM YoY, FY26 Q2: 3.0% Revenue growth, TTM YoY, FY26 Q3: 4.8% 4.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -4.4%
FY24 Q1 -2.3%
FY24 Q2 0.7%
FY24 Q3 1.7%
FY24 Q4 -1.9%
FY25 Q1 -2.8%
FY25 Q2 -5.9%
FY25 Q3 -6.4%
FY25 Q4 -1.9%
FY26 Q1 -1.1%
FY26 Q2 3.0%
FY26 Q3 4.8%
Operating margin (TTM) Donnelley Financial Solutions, Inc.
12% 14% 16% 18% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 13.8% Operating margin (TTM), FY24 Q1: 17.4% Operating margin (TTM), FY24 Q2: 18.5% Operating margin (TTM), FY24 Q3: 17.1% Operating margin (TTM), FY24 Q4: 17.5% Operating margin (TTM), FY25 Q1: 17.7% Operating margin (TTM), FY25 Q2: 16.7% Operating margin (TTM), FY25 Q3: 18.1% Operating margin (TTM), FY25 Q4: 18.4% Operating margin (TTM), FY26 Q1: 18.6% Operating margin (TTM), FY26 Q2: 18.9% Operating margin (TTM), FY26 Q3: 19.2% 19.2%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 13.8%
FY24 Q1 17.4%
FY24 Q2 18.5%
FY24 Q3 17.1%
FY24 Q4 17.5%
FY25 Q1 17.7%
FY25 Q2 16.7%
FY25 Q3 18.1%
FY25 Q4 18.4%
FY26 Q1 18.6%
FY26 Q2 18.9%
FY26 Q3 19.2%
FCF margin (TTM) Donnelley Financial Solutions, Inc.
0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 7.8% FCF margin (TTM), FY24 Q1: 10.5% FCF margin (TTM), FY24 Q2: 14.2% FCF margin (TTM), FY24 Q3: 14.9% FCF margin (TTM), FY24 Q4: 13.5% FCF margin (TTM), FY25 Q1: 12.1% FCF margin (TTM), FY25 Q2: 14.5% FCF margin (TTM), FY25 Q3: 13.5% FCF margin (TTM), FY25 Q4: 14.1% FCF margin (TTM), FY26 Q1: 18.5% FCF margin (TTM), FY26 Q2: 19.6% FCF margin (TTM), FY26 Q3: 22.7% 22.7%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 7.8%
FY24 Q1 10.5%
FY24 Q2 14.2%
FY24 Q3 14.9%
FY24 Q4 13.5%
FY25 Q1 12.1%
FY25 Q2 14.5%
FY25 Q3 13.5%
FY25 Q4 14.1%
FY26 Q1 18.5%
FY26 Q2 19.6%
FY26 Q3 22.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Donnelley Financial Solutions took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $767M
  2. Selling, general and admin $278M · 36.2%
  3. Other operating costs $348M · 45.4%
  4. Operating income $141M · 18.4%
  5. Income tax $10.7M · 1.4%
  6. Interest and other $98M · 12.8%
  7. Net income $32.4M · 4.2%

Shares of revenue. Source: Donnelley Financial Solutions's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 1,080 1,050 984 1,005 963 875 895 993 834 797 782 767 787
EBITDA 132 214 148 140 167 128 55 260 191 167 197 200 211
Operating income 91 173 105 96 121 79 4 219 145 110 137 141 151
Net income 57 104 59 10 74 38 −26 146 103 82 92 32 97
Diluted EPS $1.77 $3.22 $1.80 $0.29 $2.16 $1.10 −$0.76 $4.14 $3.17 $2.69 $3.06 $1.15 $3.74
Growth (year on year)
Revenue — −2.8% −6.3% +2.2% −4.2% −9.2% +2.3% +11.0% −16.1% −4.4% −1.9% −1.9% +4.8%
EBITDA — +63.0% −30.8% −5.5% +19.0% −23.2% −57.5% +376.3% −26.3% −12.9% +18.1% +1.8% +7.8%
Operating income — +90.2% −39.2% −8.9% +26.5% −35.2% −95.4% — −33.9% −24.1% +24.2% +3.3% +11.2%
Net income — +81.7% −43.3% −83.6% — −48.9% −168.9% — −29.7% −19.8% +12.4% −64.9% +199.7%
Diluted EPS — +81.9% −44.1% −83.9% — −49.1% −169.1% — −23.4% −15.1% +13.8% −62.4% +231.9%
Margins
EBITDA margin 12.2% 20.4% 15.1% 14.0% 17.3% 14.6% 6.1% 26.1% 22.9% 20.9% 25.2% 26.1% 26.8%
Operating margin 8.4% 16.5% 10.7% 9.5% 12.6% 9.0% 0.4% 22.1% 17.4% 13.8% 17.5% 18.4% 19.2%
Net margin 5.3% 9.9% 6.0% 1.0% 7.6% 4.3% −2.9% 14.7% 12.3% 10.3% 11.8% 4.2% 12.4%
Free-cash-flow margin 8.9% 8.9% 8.1% 6.3% 3.0% 1.1% 13.8% 13.9% 11.5% 7.8% 13.5% 14.1% 22.7%
Cash flow
Cash from operations 125 121 106 91 66 55 154 180 150 124 171 165 227
Capital spending 29 27 26 28 37 45 31 42 54 62 66 57 48
Free cash flow 97 94 80 64 29 10 123 138 96 62 105 108 179
Stock-based pay 2 2 3 7 9 9 14 20 19 23 25 31 34
Free cash flow after stock pay 94 92 77 57 20 1 110 118 77 40 80 76 145
Balance sheet
Cash 29 15 36 52 47 17 74 55 34 23 57 25 27
Total debt 0 18 600 — 373 296 231 124 169 125 125 171 127
Net debt (negative = net cash) −29 3 564 −52 325 279 157 70 135 101 67 147 100
Diluted shares 32m 32m 33m 33m 34m 34m 34m 35m 32m 31m 30m 28m 26m
Returned to shareholders
Buybacks — 0 0 1 2 2 12 41 165 40 82 185 145
Total returned — 0 0 1 2 2 12 41 165 40 82 185 145

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 7 checks passed · September 30, 2026
What it owns · $788m
Short-term assets $216mLonger-term assets $572m
What it owes, and who funded it · $788m
Short-term liabilities $203mLonger-term liabilities $176mShareholders' equity $409m
  • Short-term assets cover short-term liabilities $216m of assets due within a year against $203m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $216m short-term assets against $176m of longer-dated liabilities.
  • More cash than debt $27m of cash against $127m of debt.
  • Debt below 40% of shareholders' equity Debt is 31% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 55% to 31% over five years.
  • A year's operating cash flow covers at least 20% of debt $227m of operating cash flow against $127m of debt.
  • Operating profit covers interest at least five times over Operating income of $151m against $12m of interest.

From Donnelley Financial Solutions, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$145M
Returned to shareholders
81%
of free cash flow
Buybacks, last 3 fiscal years
$307M
Diluted share count
−9.7%
year over year
Total shareholder yield
8.7%
dividends 0.0% + buybacks 8.7% of market value
Sales & admin spending
36.8%
of revenue

Competitors: side by side with peers

Closest by revenue in diversified support services
Last 12 months unless stated DFIN XMTR VRRM LQDT EVI HCSG Median
Revenue, last 12 months $787m $808m $1.0bn $490m $447m $1.9bn $906m
Revenue growth, last 12 months 4.8% 33.7% 6.5% 5.2% 14.6% 4.0% 6.3%
Revenue growth, 3-year average −0.1% 24.5% 8.2% 16.5% 8.0% 4.0% 6.4%
Revenue growth, latest quarter 5.5% 41.1% −1.2% 8.1% 10.8% 3.3% 7.2%
Gross margin — 38.7% — 47.6% 31.5% 16.1% 29.0%
Operating margin 19.2% −3.8% 12.7% 9.0% 3.5% — 4.9%
Operating margin, 3-year average 18.2% −7.9% 17.4% 7.6% 3.4% — 9.9%
Net margin 12.4% −3.8% 3.8% 6.8% 1.7% 5.6% 2.7%
Cash from operations / revenue 28.8% 3.4% 25.1% 20.1% 4.6% 6.0% 7.1%
Free-cash-flow margin 22.7% 0.9% 13.7% 18.4% 3.0% 5.7% 3.7%
Free-cash-flow margin, 3-year average 17.1% −4.0% 15.7% 14.6% 5.0% 5.5% 7.4%
Stock pay / revenue 4.4% 5.1% 1.4% 4.2% 1.2% 0.6% 1.4%
Change in share count −9.7% — −5.2% 0.9% 3.2% −4.0% 0.1%

Median of all 32 companies we cover in diversified support services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

32 diversified support services companies
Measure Company Peer median Rank
Revenue growth Growth 4.8% 6.5% 20 of 32
Change in growth rate Growth +1.9pp +0.8pp 12 of 32
Operating margin Profitability 19.2% 4.5% 4 of 29
Net margin Profitability 12.4% 3.3% 4 of 32
Free-cash-flow margin Cash generation 22.7% 4.1% 4 of 31
Stock pay as % of revenue Cash generation 4.4% 1.4% 20 of 26
Long-term debt as % of assets Balance sheet 15.4% 33.7% 7 of 18
Change in share count Balance sheet -9.7% -0.1% 2 of 28

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Capital Markets Compliance and Communications Management $296M 38.6% ▼ 7.9%
Capital Markets Software Solutions $230M 30.0% ▲ 7.7%
Investment Companies Software Solutions $128M 16.7% ▲ 10.6%
Investment Companies Compliance and Communications Management $112M 14.7% ▼ 13.9%
Products and services
Line of business Revenue Share YoY
Software Solutions $358M 46.7% ▲ 8.7%
Technology services $298M 38.9% ▼ 7.0%
Print and Distribution Service $110M 14.4% ▼ 16.1%
Geography
Region Revenue Share YoY
United States $685M 89.3% ▼ 2.1%
Europe $29.5M 3.8% ▲ 2.8%
Canada $26.1M 3.4% ▼ 1.9%
Asia $24.7M 3.2% ▼ 3.5%
Other Geographic Area $1.9M 0.2% ▲ 5.6%

From Donnelley Financial Solutions, Inc.'s 10-K filed February 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$967M
Institutions reporting
243
Shares held vs prior quarter
▼ 5.1%
Positions opened / closed
33 / 31

Top buyers and sellers, Q2 2026: 110 institutions bought and 119 sold ; the biggest buyer was Arrowstreet Capital, Limited Partnership (+491K shares) and the biggest seller Thrivent Financial For Lutherans (−1.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $165M 3.9M 17.1% ▼ 1.4%
State Street Corp $50.4M 1.2M 5.2% ▲ 3.4%
Vanguard Capital Management LLC $44.3M 1.1M 4.6% ▼ 5.2%
Alberta Investment Management Corp $44.2M 1.1M 4.6% ▲ 23.5%
Morgan Stanley $34.4M 821K 3.6% ▼ 13.5%
Rice Hall James & Associates, LLC $32.5M 775K 3.4% ▼ 0.6%
Dimensional Fund Advisors LP $29.3M 699K 3.0% ▲ 1.9%
Geode Capital Management, LLC $26.6M 634K 2.8% ▲ 1.2%
William Blair Investment Management, LLC $26.5M 632K 2.7% ▲ 15.8%
Fuller & Thaler Asset Management, Inc. $26.4M 629K 2.7% ▲ 36.0%
Arrowstreet Capital, Limited Partnership $23.6M 563K 2.4% ▲ 682.3%
Qube Research & Technologies Ltd $22.2M 530K 2.3% ▲ 396.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Donnelley Financial Solutions, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $999,945 3 trades by 1 insider, last 12 months Insider sales History → $3.4M 7 trades by 3 insiders · 15% under pre-set plans
Net ▼ $2.4M net selling
Insider Date Trade Shares Price Value
Williams Robert Kirk Chief People & Intl Officer September 3, 2026 Sell 16,450 $48.77 $802,266
Binz Joseph Leo Director September 2, 2026 Buy 5,780 $47.75 $275,995
Binz Joseph Leo Director September 1, 2026 Buy 5,000 $47.75 $238,750
Binz Joseph Leo Director September 1, 2026 Buy 10,000 $48.52 $485,200
Leib Daniel Chief Executive Officer August 19, 2026 Sell 9,787 $50.00 $489,350
Leib Daniel Chief Executive Officer August 14, 2026 Sell 213 $50.00 $10,650
Johnson Eric J President, GIC March 6, 2026 Sell 20,280 $50.16 $1M
Williams Robert Kirk Chief People & Admin Officer March 4, 2026 Sell 7,684 $52.03 $399,799
Williams Robert Kirk Chief People & Admin Officer March 3, 2026 Sell 4,237 $52.29 $221,553
Leib Daniel Chief Executive Officer February 26, 2026 Sell pre-set plan 10,000 $50.36 $503,600

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Donnelley Financial Solutions, Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Greg Gianforte(MT):Sale (full), $1,001 - $15,000, traded October 15, 2018, filed October 22, 2018

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 22, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • May 5, 2026
  • February 17, 2026
  • October 29, 2025
  • October 23, 2025

Recent SEC filings

Data status

When each part of this page on Donnelley Financial Solutions, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Donnelley Financial Solutions, Inc. in brief

What does Donnelley Financial Solutions, Inc. do?
Donnelley Financial Solutions, Inc. is a US-listed company in the diversified support services industry. Its financial year ends in December.
What is Donnelley Financial Solutions, Inc.'s stock ticker?
Donnelley Financial Solutions, Inc. trades under the ticker DFIN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Donnelley Financial Solutions, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Donnelley Financial Solutions, Inc. reported revenue of $787M, 4.8% higher than a year earlier, according to its SEC filings.
What is Donnelley Financial Solutions, Inc.'s free cash flow?
Donnelley Financial Solutions, Inc.'s free-cash-flow margin is 22.7% of revenue over the trailing twelve months, ranking 4 of the 31 diversified support services companies we cover.
What is Donnelley Financial Solutions, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Donnelley Financial Solutions, Inc.'s free cash flow after stock-based pay gives ~$76 per share in the base case, and ~$56–$100 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Donnelley Financial Solutions, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., State Street Corp and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Donnelley Financial Solutions, Inc. buying back stock, and does it pay a dividend?
Donnelley Financial Solutions, Inc. spent $145M on share repurchases over the trailing twelve months, and its diluted share count fell 9.7% over the year.
What is Donnelley Financial Solutions, Inc.'s market cap?
On November 2, 2026, Donnelley Financial Solutions, Inc.'s market capitalisation was about $1.8B, with a price-to-earnings ratio of 18.1 and net debt of $99.8M. Market figures come from third-party market data and may be delayed.
How much debt does Donnelley Financial Solutions, Inc. have?
Donnelley Financial Solutions, Inc.'s debt-to-equity ratio is 31.0%, from its latest balance sheet (54.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Donnelley Financial Solutions, Inc.'s competitors?
In our Diversified Support Services peer group, the companies closest to Donnelley Financial Solutions, Inc. are Xometry, Inc., Verra Mobility Corp, Liquidity Services Inc, EVI Industries, Inc. and Healthcare Services Group Inc. The side-by-side comparison below sets their revenue, margins and growth against Donnelley Financial Solutions, Inc.'s.
Are insiders buying or selling Donnelley Financial Solutions, Inc. stock?
Over the last 12 months, Donnelley Financial Solutions, Inc.'s directors and officers reported 3 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is Donnelley Financial Solutions, Inc.'s next earnings date?
Around January 22, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Donnelley Financial Solutions, Inc. announces its own schedule.