DFIN Technology

Donnelley Financial Solutions, Inc.

$68.14+0.58%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Technology
Industry: Software - Application
Country: United States
Market cap: 1.7B USD
Enterprise value: 1.5B USD
Full-time employees: 1,750

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: less short-term liquidity (current ratio 1.33 vs a peer median of 1.83)less liquidity (current ratio 1.33 vs peers 1.83)
Drawback: more debt relative to equity (0.53× vs a peer median of 0.25×)more debt vs equity (0.53× vs peers 0.25×)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #775 of 1,612 technology companies (top 49%)

See how it ranks against its peers

Worth knowing

Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.
Donnelley Financial Solutions's fiscal-year revenue declined in each of the three years to 2025.
Share count shrinking. Shares outstanding down 15% from December 2022 to July 2026.
Donnelley Financial Solutions had 15% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Cash flow well above reported profit. Free cash flow is 4.3× reported profit.
Free cash flow is 4.3× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
Wide margins. Operating margin 19% (12 months to Jun 2026) vs a peer median of 6.3%.Operating margin 19% vs peers 6.3%.
Donnelley Financial Solutions keeps 19% of revenue as operating profit, more than 84% of peers (median 6.3%).

StockQuotient Score

52/ 100▼ 3 since Oct 27 close

Oct 5 56 → Nov 4 52 (-4)

Valuation

Is the price right?

80/100

Strong▼ 9 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 89 → 80

Share price +27.5%-8
Company's reported figures updated+1
Peer companies moved-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ FCF yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.1%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.07Sector median: 0.0225 · MAD: 0.0225

EBITDA yield11.2%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 1.93Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield9.1%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 2.31Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield23.1%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

17/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth
▼ 3-yr revenue
▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-52.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.07Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth-0.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.71Sector median: 0.0483 · MAD: 0.0793

Revenue growth3.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.55Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

76/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Operating margin
▲ ROIC
▲ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin18.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.78Sector median: 0.0631 · MAD: 0.0710

Return on assets4.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.36Sector median: 0.0293 · MAD: 0.0362

Return on invested capital20.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.60Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin64.2%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity9.1%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Held back by:

▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.75

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.33Sector median: 0.8710 · MAD: 0.3700

Current ratio1.33×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.74Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.53×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.22Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Donnelley Financial Solutions

Is Donnelley Financial Solutions getting weaker?: Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is 52/100, down 3 since Oct 28, 2026.
How is Donnelley Financial Solutions valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 80/100 against 1,711 technology peers. Free cash flow yield 9.1% vs a peer median of 2.7% (stronger than 86% of peers).Free cash flow yield 9.1% vs peers 2.7% (stronger than 86% of peers).
Is Donnelley Financial Solutions growing?: More slowly than most of its peers. Growth scores 17/100 against 1,711 technology peers. Earnings per share growth -52.1% vs a peer median of 11.1% (weaker than 93% of peers).Earnings per share growth -52.1% vs peers 11.1% (weaker than 93% of peers).
How profitable is Donnelley Financial Solutions?: More profitable than most of its peers. Profitability scores 76/100 against 1,711 technology peers. Operating margin 18.9% vs a peer median of 6.3% (stronger than 84% of peers).Operating margin 18.9% vs peers 6.3% (stronger than 84% of peers).
How risky is Donnelley Financial Solutions?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 1.33× vs a peer median of 1.83× (weaker than 72% of peers).Current ratio 1.33× vs peers 1.83× (weaker than 72% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	771.4M USD	777.5M USD	+0.8%
Net income (12 months)	34.9M USD	35.2M USD	+0.9%
Operating margin	18.6%	18.9%	+0.3 pts
Free cash flow (12 months)	142.8M USD	152.3M USD	+6.7%
Debt	229.9M USD	204.0M USD	−11.3%
Cash	26.1M USD	25.3M USD	−3.1%
Shares outstanding	25.0M	24.6M	−1.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Software - Application · 81 companies

Valuations in Software - Application are near the bottom of their range since 2016.

6% of months since 2016 were valued lower than now.
8% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −16% and earnings +31% (medians): earnings grew faster than prices.
Median price-to-sales is +85% vs the whole market, against a usual +235%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	22.1%	17.4%	13.8%	17.5%	18.4%	▲ 0.9 pts
Net margin	14.7%	12.3%	10.3%	11.8%	4.2%	▼ 7.6 pts
Return on assets (ROA)	16.5%	12.4%	10.2%	11.0%	4.0%	▼ 6.9 pts
Return on equity (ROE)	38.7%	31.1%	20.4%	21.2%	8.5%	▼ 13 pts
Free cash flow margin	13.9%	11.5%	7.8%	13.5%	14.1%	▲ 0.6 pts
Current ratio	1.07×	1.02×	1.03×	1.04×	1.06×	▲ 1.9%
Quick ratio	1.05×	0.98×	1.01×	1.02×	1.03×	▲ 1.1%
Debt to equity	0.33×	0.51×	0.31×	0.29×	0.45×	▲ 58%
Interest coverage	8.24×	15.76×	6.96×	10.59×	10.94×	▲ 3.3%

DFIN price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: less short-term liquidity (current ratio 1.33 vs a peer median of 1.83)less liquidity (current ratio 1.33 vs peers 1.83)

Drawback: more debt relative to equity (0.53× vs a peer median of 0.25×)more debt vs equity (0.53× vs peers 0.25×)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #775 of 1,612 technology companies (top 49%)

See how it ranks against its peers

Worth knowing

Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.

Donnelley Financial Solutions's fiscal-year revenue declined in each of the three years to 2025.

Share count shrinking. Shares outstanding down 15% from December 2022 to July 2026.

Donnelley Financial Solutions had 15% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Cash flow well above reported profit. Free cash flow is 4.3× reported profit.

Free cash flow is 4.3× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Wide margins. Operating margin 19% (12 months to Jun 2026) vs a peer median of 6.3%.Operating margin 19% vs peers 6.3%.

Donnelley Financial Solutions keeps 19% of revenue as operating profit, more than 84% of peers (median 6.3%).

Questions investors ask about Donnelley Financial Solutions

Is Donnelley Financial Solutions getting weaker?

Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is 52/100, down 3 since Oct 28, 2026.

How is Donnelley Financial Solutions valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 80/100 against 1,711 technology peers. Free cash flow yield 9.1% vs a peer median of 2.7% (stronger than 86% of peers).Free cash flow yield 9.1% vs peers 2.7% (stronger than 86% of peers).

Is Donnelley Financial Solutions growing?

More slowly than most of its peers. Growth scores 17/100 against 1,711 technology peers. Earnings per share growth -52.1% vs a peer median of 11.1% (weaker than 93% of peers).Earnings per share growth -52.1% vs peers 11.1% (weaker than 93% of peers).

How profitable is Donnelley Financial Solutions?

More profitable than most of its peers. Profitability scores 76/100 against 1,711 technology peers. Operating margin 18.9% vs a peer median of 6.3% (stronger than 84% of peers).Operating margin 18.9% vs peers 6.3% (stronger than 84% of peers).

How risky is Donnelley Financial Solutions?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 1.33× vs a peer median of 1.83× (weaker than 72% of peers).Current ratio 1.33× vs peers 1.83× (weaker than 72% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

771.4M USD

777.5M USD

+0.8%

Net income (12 months)

34.9M USD

35.2M USD

+0.9%

Operating margin

18.6%

18.9%

+0.3 pts

Free cash flow (12 months)

142.8M USD

152.3M USD

+6.7%

Debt

229.9M USD

204.0M USD

−11.3%

Cash

26.1M USD

25.3M USD

−3.1%

Shares outstanding

25.0M

24.6M

−1.6%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

22.1%

17.4%

13.8%

17.5%

18.4%

▲ 0.9 pts

Net margin

14.7%

12.3%

10.3%

11.8%

4.2%

▼ 7.6 pts

Return on assets (ROA)

16.5%

12.4%

10.2%

11.0%

4.0%

▼ 6.9 pts

Return on equity (ROE)

38.7%

31.1%

20.4%

21.2%

8.5%

▼ 13 pts

Free cash flow margin

13.9%

11.5%

7.8%

13.5%

14.1%

▲ 0.6 pts

Current ratio

1.07×

1.02×

1.03×

1.04×

1.06×

▲ 1.9%

Quick ratio

1.05×

0.98×

1.01×

1.02×

1.03×

▲ 1.1%

Debt to equity

0.33×

0.51×

0.31×

0.29×

0.45×

▲ 58%

Interest coverage

8.24×

15.76×

6.96×

10.59×

10.94×

▲ 3.3%