Donnelley Financ Financials
This page shows Donnelley Financ (DFIN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Falling revenue but rising margins reveal a leaner, more cash-productive operating model rather than a business losing economic value.
By FY2025, operating economics improved: operating margin reached18.4% while net margin fell to4.2% . With free cash flow still at$107.8M , that split implies below-the-operating-line pressure distorted reported earnings more than the underlying customer economics did.
From FY2023 to FY2025, revenue slipped from
The balance sheet works because cash generation funds obligations, not because idle cash is abundant: year-end cash was
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Donnelley Financ's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Donnelley Financ has an operating margin of 18.4%, meaning the company retains $18 of operating profit per $100 of revenue. This strong profitability earns a score of 84/100, reflecting efficient cost management and pricing power. This is up from 17.5% the prior year.
Donnelley Financ's revenue declined 1.9% year-over-year, from $781.9M to $767.0M. This contraction results in a growth score of 26/100.
Donnelley Financ has a moderate D/E ratio of 0.44. This balance of debt and equity financing earns a leverage score of 54/100.
Donnelley Financ's current ratio of 1.06 is below the typical benchmark, resulting in a score of 22/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Donnelley Financ converts 14.1% of revenue into free cash flow ($107.8M). This strong cash generation earns a score of 74/100.
Donnelley Financ earns a strong 8.5% return on equity (ROE), meaning it generates $9 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 87/100. This is down from 21.2% the prior year.
Donnelley Financ scores 4.32, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Donnelley Financ passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Donnelley Financ generates $5.09 in operating cash flow ($164.9M OCF vs $32.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Donnelley Financ earns $10.9 in operating income for every $1 of interest expense ($141.1M vs $12.9M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Donnelley Financ generated $767.0M in revenue in fiscal year 2025. This represents a decrease of 1.9% from the prior year.
Donnelley Financ's EBITDA was $200.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 1.8% from the prior year.
Donnelley Financ reported $32.4M in net income in fiscal year 2025. This represents a decrease of 64.9% from the prior year.
Donnelley Financ earned $1.15 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 62.4% from the prior year.
Cash & Balance Sheet
Donnelley Financ generated $107.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 2.5% from the prior year.
Donnelley Financ held $24.5M in cash against $165.5M in long-term debt as of fiscal year 2025.
Donnelley Financ had 26M shares outstanding in fiscal year 2025. This represents a decrease of 10.4% from the prior year.
Margins & Returns
Donnelley Financ's gross margin was 63.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.5 percentage points from the prior year.
Donnelley Financ's operating margin was 18.4% in fiscal year 2025, reflecting core business profitability. This is up 0.9 percentage points from the prior year.
Donnelley Financ's net profit margin was 4.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.6 percentage points from the prior year.
Donnelley Financ's ROE was 8.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 12.7 percentage points from the prior year.
Capital Allocation
Donnelley Financ spent $185.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 126.7% from the prior year.
Donnelley Financ invested $57.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 13.4% from the prior year.
DFIN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $205.5M+19.1% | $172.5M-1.6% | $175.3M-19.6% | $218.1M+8.5% | $201.1M+28.7% | $156.3M-12.9% | $179.5M-26.0% | $242.7M |
| Cost of Revenue | $73.9M+17.5% | $62.9M-3.7% | $65.3M-17.6% | $79.2M+8.5% | $73.0M+16.6% | $62.6M-8.9% | $68.7M-20.6% | $86.5M |
| Gross Profit | $131.6M+20.1% | $109.6M-0.4% | $110.0M-20.8% | $138.9M+8.4% | $128.1M+36.7% | $93.7M-15.4% | $110.8M-29.1% | $156.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $67.4M-9.9% | $74.8M+11.1% | $67.3M-3.9% | $70.0M+6.4% | $65.8M-3.2% | $68.0M-8.1% | $74.0M-2.8% | $76.1M |
| Operating Income | $48.5M+239.2% | $14.3M-49.3% | $28.2M-46.6% | $52.8M+15.3% | $45.8M+392.5% | $9.3M-48.9% | $18.2M-71.8% | $64.5M |
| Interest Expense | $2.8M-9.7% | $3.1M+6.9% | $2.9M-23.7% | $3.8M+22.6% | $3.1M+24.0% | $2.5M-19.4% | $3.1M-16.2% | $3.7M |
| Income Tax | $11.9M+205.1% | $3.9M+122.9% | -$17.0M-234.9% | $12.6M+12.5% | $11.2M+1300.0% | $800K-88.1% | $6.7M-60.8% | $17.1M |
| Net Income | $33.5M+440.3% | $6.2M+115.2% | -$40.9M-213.3% | $36.1M+16.5% | $31.0M+392.1% | $6.3M-27.6% | $8.7M-80.3% | $44.1M |
| EPS (Diluted) | $1.27 | N/A | $-1.49-216.4% | $1.28+21.9% | $1.05 | N/A | $0.29-80.3% | $1.47 |
DFIN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $840.8M+5.0% | $800.4M-1.9% | $816.3M-6.7% | $874.7M+2.6% | $852.8M+1.3% | $841.6M-0.2% | $843.6M-4.5% | $882.9M |
| Current Assets | $261.1M+23.5% | $211.4M-2.9% | $217.7M-18.3% | $266.6M+9.8% | $242.9M+4.5% | $232.5M-2.0% | $237.3M-14.8% | $278.6M |
| Cash & Equivalents | $26.1M+6.5% | $24.5M+7.9% | $22.7M-32.8% | $33.8M+108.6% | $16.2M-71.7% | $57.3M+70.5% | $33.6M-4.0% | $35.0M |
| Inventory | N/A | $5.6M | N/A | N/A | N/A | $4.4M | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $405.6M0.0% | $405.8M0.0% | $405.7M0.0% | $405.9M+0.1% | $405.4M0.0% | $405.4M-0.1% | $405.9M+0.1% | $405.6M |
| Total Liabilities | $464.1M+10.2% | $421.2M+7.1% | $393.2M-11.2% | $442.6M+2.2% | $432.9M+6.8% | $405.5M+1.6% | $399.1M-9.6% | $441.4M |
| Current Liabilities | $185.6M-7.2% | $200.0M+3.5% | $193.3M-6.7% | $207.1M+5.8% | $195.8M-12.6% | $224.1M+8.2% | $207.1M+7.6% | $192.5M |
| Long-Term Debt | $224.1M+35.4% | $165.5M+11.1% | $148.9M-19.2% | $184.3M+0.3% | $183.7M+47.3% | $124.7M+0.1% | $124.6M-30.6% | $179.6M |
| Total Equity | $376.7M-0.7% | $379.2M-10.4% | $423.1M-2.1% | $432.1M+2.9% | $419.9M-3.7% | $436.1M-1.9% | $444.5M+0.7% | $441.5M |
| Retained Earnings | $594.4M+6.0% | $560.9M+1.1% | $554.7M-6.9% | $595.6M+6.5% | $559.5M+5.9% | $528.5M+1.2% | $522.2M+1.7% | $513.5M |
DFIN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.6M-109.4% | $59.8M-19.6% | $74.4M+8.8% | $68.4M+281.4% | -$37.7M-166.8% | $56.4M-34.7% | $86.4M+53.7% | $56.2M |
| Capital Expenditures | $10.4M-12.6% | $11.9M-21.7% | $15.2M-9.0% | $16.7M+25.6% | $13.3M-11.9% | $15.1M-20.9% | $19.1M-1.5% | $19.4M |
| Free Cash Flow | -$16.0M-133.4% | $47.9M-19.1% | $59.2M+14.5% | $51.7M+201.4% | -$51.0M-223.5% | $41.3M-38.6% | $67.3M+82.9% | $36.8M |
| Investing Cash Flow | -$10.3M+13.4% | -$11.9M+21.7% | -$15.2M+8.4% | -$16.6M-24.8% | -$13.3M+11.9% | -$15.1M+20.9% | -$19.1M+1.0% | -$19.3M |
| Financing Cash Flow | $17.5M+138.0% | -$46.1M+34.3% | -$70.2M-100.6% | -$35.0M-468.4% | $9.5M+158.6% | -$16.2M+76.7% | -$69.4M-53.9% | -$45.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $40.9M-33.9% | $61.9M+79.9% | $34.4M-3.6% | $35.7M-32.6% | $53.0M+208.1% | $17.2M+25.5% | $13.7M-31.2% | $19.9M |
DFIN Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.0%+0.5pp | 63.5%+0.8pp | 62.7%-0.9pp | 63.7%0.0pp | 63.7%+3.7pp | 60.0%-1.8pp | 61.7%-2.6pp | 64.4% |
| Operating Margin | 23.6%+15.3pp | 8.3%-7.8pp | 16.1%-8.1pp | 24.2%+1.4pp | 22.8%+16.8pp | 5.9%-4.2pp | 10.1%-16.4pp | 26.6% |
| Net Margin | 16.3%+12.7pp | 3.6%+26.9pp | -23.3%-39.9pp | 16.6%+1.1pp | 15.4%+11.4pp | 4.0%-0.8pp | 4.9%-13.3pp | 18.2% |
| Return on Equity | 8.9%+7.3pp | 1.6%+11.3pp | -9.7%-18.0pp | 8.3%+1.0pp | 7.4%+5.9pp | 1.4%-0.5pp | 2.0%-8.0pp | 10.0% |
| Return on Assets | 4.0%+3.2pp | 0.8%+5.8pp | -5.0%-9.1pp | 4.1%+0.5pp | 3.6%+2.9pp | 0.8%-0.3pp | 1.0%-4.0pp | 5.0% |
| Current Ratio | 1.41+0.3 | 1.06-0.1 | 1.13-0.2 | 1.29+0.0 | 1.24+0.2 | 1.04-0.1 | 1.15-0.3 | 1.45 |
| Debt-to-Equity | 0.59+0.2 | 0.44+0.1 | 0.35-0.1 | 0.43-0.0 | 0.44+0.2 | 0.290.0 | 0.28-0.1 | 0.41 |
| FCF Margin | -7.8%-35.6pp | 27.8%-6.0pp | 33.8%+10.1pp | 23.7%+49.1pp | -25.4%-51.8pp | 26.4%-11.1pp | 37.5%+22.3pp | 15.2% |
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Frequently Asked Questions
What is Donnelley Financ's annual revenue?
Donnelley Financ (DFIN) reported $767.0M in total revenue for fiscal year 2025. This represents a -1.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Donnelley Financ's revenue growing?
Donnelley Financ (DFIN) revenue declined by 1.9% year-over-year, from $781.9M to $767.0M in fiscal year 2025.
Is Donnelley Financ profitable?
Yes, Donnelley Financ (DFIN) reported a net income of $32.4M in fiscal year 2025, with a net profit margin of 4.2%.
What is Donnelley Financ's EBITDA?
Donnelley Financ (DFIN) had EBITDA of $200.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Donnelley Financ have?
As of fiscal year 2025, Donnelley Financ (DFIN) had $24.5M in cash and equivalents against $165.5M in long-term debt.
What is Donnelley Financ's gross margin?
Donnelley Financ (DFIN) had a gross margin of 63.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Donnelley Financ's operating margin?
Donnelley Financ (DFIN) had an operating margin of 18.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Donnelley Financ's net profit margin?
Donnelley Financ (DFIN) had a net profit margin of 4.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Donnelley Financ's return on equity (ROE)?
Donnelley Financ (DFIN) has a return on equity of 8.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Donnelley Financ's free cash flow?
Donnelley Financ (DFIN) generated $107.8M in free cash flow during fiscal year 2025. This represents a 2.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Donnelley Financ's operating cash flow?
Donnelley Financ (DFIN) generated $164.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Donnelley Financ's total assets?
Donnelley Financ (DFIN) had $800.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Donnelley Financ's capital expenditures?
Donnelley Financ (DFIN) invested $57.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Donnelley Financ's current ratio?
Donnelley Financ (DFIN) had a current ratio of 1.06 as of fiscal year 2025, which is considered adequate.
What is Donnelley Financ's debt-to-equity ratio?
Donnelley Financ (DFIN) had a debt-to-equity ratio of 0.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Donnelley Financ's return on assets (ROA)?
Donnelley Financ (DFIN) had a return on assets of 4.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Donnelley Financ's Altman Z-Score?
Donnelley Financ (DFIN) has an Altman Z-Score of 4.32, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Donnelley Financ's Piotroski F-Score?
Donnelley Financ (DFIN) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Donnelley Financ's earnings high quality?
Donnelley Financ (DFIN) has an earnings quality ratio of 5.09x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Donnelley Financ cover its interest payments?
Donnelley Financ (DFIN) has an interest coverage ratio of 10.9x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Donnelley Financ?
Donnelley Financ (DFIN) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.