What is DLH Holdings Corp.'s earnings per share (EPS)?

DLH Holdings Corp. (DLHC) reported diluted earnings per share of $0.09 for fiscal year 2025. This represents a -82.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

DLH Holdings Corp. (DLHC) Financials

DLHC

Trailing 12 months to June 30, 2026

Revenue $253.5M -29.5% YoY

Net Income -$21.6M -571.2% YoY

EPS (Diluted) -$1.48 -562.5% YoY

Free Cash Flow $13.8M -41.0% YoY

Market Cap $58.0M as of Oct 15, 2026

Price / Sales 0.2x on $253.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 0.6x on $93.3M equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 15, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Jun 30, 2026 Reported Jul 29, 2026 Currency USD FYE September

Newest figures come from the 10-Q for Q3 FY2026, filed Jul 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DLHC SEC filings page.

DLH Holdings Corp. (DLHC) reported $253.5M in revenue over the twelve months to Jun 30, 2026, down 29.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI DLHC FY2025 2026-10-03

The business converts profit to cash with little reinvestment, but FY2025 revenue contraction again exposed thin margins and interest pressure.

Cash conversion looked healthy in FY2025: operating cash flow of $23.2M nearly matched free cash flow of $23.0M because capital spending was minimal; this reflects low reinvestment needs, not necessarily broad earnings strength. Net income was only $1.4M, so cash generation materially exceeded accounting profit; interest expense of $13.4M helps explain the gap.

Gross margin slipped from 21.3% in FY2023 to 18.9% in FY2025. That pairing indicates the latest pressure came from both reduced activity and weaker economics per revenue dollar, rather than scale alone.

Deleveraging is visible: debt-to-equity fell from 1.5x in FY2023 to 1.1x in FY2025, reducing balance-sheet strain. Meanwhile, the current ratio stayed near 1.0x while goodwill remained $138.2M, so flexibility is narrower than the improving leverage ratio alone suggests.

Financial Health Signals

Financial Health Score 37/100

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 DLH Holdings Corp.'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.

Profitability

DLH Holdings Corp. has an operating margin of 4.9%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 57/100, indicating healthy but not exceptional operating efficiency. This is down from 6.3% the prior year.

Growth

DLH Holdings Corp.'s revenue declined 13.0% year-over-year, from $395.9M to $344.5M. This contraction results in a growth score of 18/100.

Leverage

DLH Holdings Corp. has elevated debt relative to equity (D/E of 1.06), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 18/100, reflecting increased financial risk.

Liquidity

DLH Holdings Corp.'s current ratio of 1.00 is below the typical benchmark, resulting in a score of 18/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

DLH Holdings Corp. has a free cash flow margin of 6.7%, earning a moderate score of 54/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

DLH Holdings Corp.'s ROE of 1.2% shows moderate profitability relative to equity, earning a score of 54/100. This is down from 6.7% the prior year.

Altman Z-Score Distress

1.62

DLH Holdings Corp. scores 1.62, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

5/9

DLH Holdings Corp. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

17.05x

For every $1 of reported earnings, DLH Holdings Corp. generates $17.05 in operating cash flow ($23.2M OCF vs $1.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.26x

DLH Holdings Corp. earns $1.26 in operating income for every $1 of interest expense ($16.8M vs $13.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$44.2M

YoY-46.9%

QoQ-25.4%

5Y CAGR-6.4%

DLH Holdings Corp. generated $44.2M in revenue in Q3 2026. This represents a decrease of 46.9% from the same quarter a year earlier. Against the prior quarter it is down 25.4%.

EBITDA

$69K

YoY-99.1%

QoQ-98.4%

5Y CAGR-60.3%

10Y CAGR-28.9%

DLH Holdings Corp.'s EBITDA was $69K in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 99.1% from the same quarter a year earlier. Against the prior quarter it is down 98.4%.

Net Income

-$16.8M

YoY-5908.7%

QoQ-562.2%

DLH Holdings Corp. reported -$16.8M in net income in Q3 2026. This represents a decrease of 5908.7% from the same quarter a year earlier. Against the prior quarter it is down 562.2%.

EPS (Diluted)

-$1.16

YoY-5900.0%

QoQ-582.4%

DLH Holdings Corp. earned -$1.16 per diluted share (EPS) in Q3 2026. This represents a decrease of 5900.0% from the same quarter a year earlier. Against the prior quarter it is down 582.4%.

Cash & Balance Sheet

Free Cash Flow

$4.2M

YoY-55.1%

QoQ+11.0%

5Y CAGR-14.6%

10Y CAGR+10.9%

DLH Holdings Corp. generated $4.2M in free cash flow in Q3 2026, representing cash available after capex. This represents a decrease of 55.1% from the same quarter a year earlier. Against the prior quarter it is up 11.0%.

Cash & Debt

$235K

YoY+21.1%

QoQ+79.4%

5Y CAGR-20.5%

10Y CAGR-22.0%

DLH Holdings Corp. held $235K in cash against $104.9M in long-term debt as of Q3 2026.

Shares Outstanding

14M

YoY+0.7%

QoQ0.0%

DLH Holdings Corp. had 14M shares outstanding in Q3 2026. This represents an increase of 0.7% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q3 2026.

Margins & Returns

Gross Margin

16.8%

YoY-2.1pp

QoQ-3.1pp

DLH Holdings Corp.'s gross margin was 16.8% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.1 percentage points.

Operating Margin

-8.9%

YoY-13.4pp

QoQ-8.8pp

5Y change-16.9pp

DLH Holdings Corp.'s operating margin was -8.9% in Q3 2026, reflecting core business profitability. This is down 13.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.8 percentage points.

Net Margin

-38.0%

YoY-38.3pp

QoQ-33.7pp

5Y change-42.6pp

DLH Holdings Corp.'s net profit margin was -38.0% in Q3 2026, showing the share of revenue converted to profit. This is down 38.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 33.7 percentage points.

Return on Equity

-18.0%

YoY-18.3pp

QoQ-15.7pp

5Y change-22.6pp

10Y change-20.9pp

DLH Holdings Corp.'s ROE was -18.0% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is down 18.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 15.7 percentage points.

Capital Allocation

Capital Expenditures

YoY-100.0%

DLH Holdings Corp. reported no capital expenditure in Q3 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

R&D Spending

Not reported for Q3 2026.

Share Buybacks

Not reported for Q3 2026.

DLHC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DLHC quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$253.5M	$344.5M-13.0%	$395.9M+5.3%	$375.9M-4.9%	$395.2M+60.6%	$246.1M+17.6%	$209.2M+30.4%	$160.4M+20.4%	$133.2M+15.2%	$115.7M	N/A	N/A	N/A	N/A	N/A	$41.9M
Cost of Revenue	$207.0M	$279.3M-12.3%	$318.4M+7.6%	$296.0M-8.3%	$322.9M+65.9%	$194.6M+19.0%	$163.6M+31.3%	$124.6M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$46.5M	$65.2M-15.9%	$77.5M-3.0%	$79.9M+10.5%	$72.3M+40.4%	$51.5M+12.9%	$45.6M+27.2%	$35.8M+18.7%	$30.2M+16.8%	$25.9M+45.0%	$17.8M+52.5%	$11.7M+30.5%	$9.0M+19.5%	$7.5M+34.0%	$5.6M-5.1%	$5.9M
SG&A Expenses	$29.9M	$31.2M-12.2%	$35.5M-6.0%	$37.8M+23.0%	$30.7M+22.7%	$25.1M+3.6%	$24.2M+17.9%	$20.5M+21.9%	$16.8M-3.6%	$17.5M+39.5%	$12.5M+37.0%	$9.1M+13.0%	$8.1M+13.5%	$7.1M-3.1%	$7.4M-0.9%	$7.4M
Operating Income	-$272K	$16.8M-32.6%	$24.9M+45.7%	$17.1M-48.6%	$33.3M+93.2%	$17.2M+27.9%	$13.5M+35.0%	$10.0M+13.5%	$8.8M+32.5%	$6.6M+63.1%	$4.1M+62.8%	$2.5M+226.7%	$764K+208.1%	$248K+111.5%	-$2.2M+49.1%	-$4.2M
EBITDA	N/A	$34.0M-19.0%	$42.0M+28.5%	$32.7M-20.2%	$40.9M+61.6%	$25.3M+23.8%	$20.5M+47.0%	$13.9M+26.3%	$11.0M+31.5%	$8.4M+58.0%	$5.3M+108.1%	$2.6M+193.2%	$870K+135.8%	$369K+118.2%	-$2.0M+50.6%	-$4.1M
Interest Expense	$11.9M	$13.4M-13.0%	$15.4M+8.5%	$14.2M+799.2%	$1.6M-47.4%	$3.0M+5.3%	$2.8M+87.9%	$1.5M+89.0%	$800K-9.4%	$883K+94.5%	$454K+120.4%	$206K+108.1%	$99K-42.4%	$172K-39.6%	$285K-2.1%	$291K
Income Tax	$8.2M	$393K+12.3%	$350K+154.6%	-$641K-108.2%	$7.8M+136.0%	$3.3M+13.4%	$2.9M+33.9%	$2.2M-62.8%	$5.8M+175.8%	$2.1M+325.4%	-$938K+82.9%	-$5.5M-19.4%	-$4.6M	$0	$0	$0
Net Income	-$21.6M	$1.4M-81.6%	$7.4M+406.3%	$1.5M-93.7%	$23.3M+129.6%	$10.1M+42.6%	$7.1M+33.6%	$5.3M+190.0%	$1.8M-44.2%	$3.3M-2.8%	$3.4M-61.2%	$8.7M+62.9%	$5.4M+3469.2%	-$159K+92.2%	-$2.0M+53.1%	-$4.3M
EPS (Basic)	N/A	$0.09-82.7%	$0.52+372.7%	$0.11-94.0%	$1.82+124.7%	$0.81+39.7%	$0.58+31.8%	$0.44+193.3%	$0.15-48.3%	$0.29-14.7%	$0.34-62.6%	$0.91+62.5%	$0.56+2900.0%	-$0.02	N/A	N/A
EPS (Diluted)	-$1.48	$0.09-82.4%	$0.51+410.0%	$0.10-93.9%	$1.64+118.7%	$0.75+38.9%	$0.54+31.7%	$0.41+192.9%	$0.14-48.1%	$0.27-10.0%	$0.30-65.5%	$0.87+61.1%	$0.54+2800.0%	-$0.02	N/A	N/A
Diluted Shares (Avg)	N/A	14M+0.4%	14M-0.2%	14M+1.8%	14M+4.3%	14M+3.8%	13M+0.5%	13M+1.3%	13M+4.2%	12M+10.1%	11M+11.8%	10M+2.0%	10M+5.7%	9M	N/A	5M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Revenue	$44.2M-46.9%	$59.3M-33.6%	$68.9M-24.1%	$81.2M-15.8%	$83.3M-17.2%	$89.2M-11.7%	$90.8M-7.2%	$96.4M-5.0%
Cost of Revenue	$36.8M-45.6%	$47.5M-33.7%	$55.4M-23.9%	$67.3M-13.1%	$67.6M-17.5%	$71.6M-9.9%	$72.8M-8.4%	$77.5M-2.7%
Gross Profit	$7.4M-52.8%	$11.8M-33.2%	$13.5M-25.1%	$13.8M-26.7%	$15.7M-15.9%	$17.6M-18.1%	$18.0M-2.2%	$18.9M-13.6%
SG&A Expenses	$7.3M-3.9%	$7.5M-8.6%	$7.8M-3.8%	$7.3M-11.8%	$7.6M-11.6%	$8.2M-27.3%	$8.1M+10.0%	$8.2M-15.5%
Operating Income	-$3.9M-204.7%	-$55K-101.1%	$1.4M-74.5%	$2.3M-64.3%	$3.8M-34.8%	$5.1M-13.9%	$5.6M-17.3%	$6.4M+5592.9%
EBITDA	$69K-99.1%	$4.2M-54.7%	$5.7M-42.3%	$6.6M-38.3%	$8.1M-19.7%	$9.4M-7.9%	$9.9M-10.2%	$10.7M+139.2%
Interest Expense	$2.7M-24.9%	$2.7M-29.8%	$3.0M-27.6%	$3.5M-16.4%	$3.5M-14.6%	$3.9M-7.5%	$4.1M-11.3%	$4.2M+0.1%
Income Tax	$9.8M+13306.8%	-$659K-283.1%	-$636K-263.5%	-$282K-248.1%	-$74K-115.4%	$360K+700.0%	$389K+3790.0%	-$81K+96.0%
Net Income	-$16.8M-5908.7%	-$2.5M-388.7%	-$1.3M-218.7%	-$920K-140.1%	$289K-74.6%	$878K-51.5%	$1.1M-48.2%	$2.3M+187.3%
EPS (Basic)	-$1.16-5900.0%	-$0.17-383.3%	-$0.09-212.5%	-$0.06-137.5%	$0.02-75.0%	$0.06-53.8%	$0.08-46.7%	$0.16+184.2%
EPS (Diluted)	-$1.16-5900.0%	-$0.17-383.3%	-$0.09-212.5%	-$0.06-137.5%	$0.02-75.0%	$0.06-50.0%	$0.08-46.7%	$0.16+188.9%
Diluted Shares (Avg)	14M+0.3%	14M+0.3%	15M0.0%	N/A	14M-1.7%	14M-3.3%	15M-1.6%	N/A

Not reported in any period shown, so not listed: R&D Expenses.

DLHC Balance Sheet

DLHC quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$290.7M-7.5%	$314.4M-7.5%	$339.8M+101.1%	$169.0M-14.3%	$197.2M+7.4%	$183.6M+42.0%	$129.3M+106.7%	$62.5M-10.3%	$69.7M+7.1%	$65.1M+127.3%	$28.6M-4.8%	$30.1M+16.7%	$25.8M-2.5%	$26.4M+20.6%	$21.9M
Current Assets	$42.5M-19.7%	$53.0M-15.1%	$62.4M+43.1%	$43.6M-29.4%	$61.8M+65.2%	$37.4M+39.3%	$26.8M+54.3%	$17.4M-0.3%	$17.4M+64.4%	$10.6M+3.4%	$10.3M-39.2%	$16.9M+5.8%	$15.9M-4.9%	$16.8M+33.4%	$12.6M
Cash & Equivalents	$125K-63.5%	$342K+59.1%	$215K-5.7%	$228K-99.1%	$24.1M+1672.4%	$1.4M-24.2%	$1.8M-71.8%	$6.4M+28.9%	$4.9M0.0%	$4.9M-11.3%	$5.6M+42.2%	$3.9M+14.7%	$3.4M+10.3%	$3.1M+304.8%	$763K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$38.4M-23.0%	$49.8M-15.7%	$59.1M+46.0%	$40.5M+21.1%	$33.4M+2.8%	$32.5M+40.1%	$23.2M+125.9%	$10.3M-13.7%	$11.9M+79.5%	$6.6M+102.0%	$3.3M-73.4%	$12.4M+3.6%	$11.9M-8.3%	$13.0M+17.2%	$11.1M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$138.2M0.0%	$138.2M0.0%	$138.2M+110.5%	$65.6M0.0%	$65.6M-2.2%	$67.1M+27.3%	$52.8M+103.0%	$26.0M0.0%	$26.0M-25.2%	$34.7M	N/A	$8.6M0.0%	$8.6M0.0%	$8.6M0.0%	$8.6M
Total Liabilities	$177.7M-13.0%	$204.2M-14.0%	$237.4M+208.5%	$77.0M-41.5%	$131.6M+1.1%	$130.1M+55.5%	$83.7M+261.9%	$23.1M-31.7%	$33.9M+1.7%	$33.3M+478.6%	$5.8M-64.5%	$16.2M-9.7%	$18.0M-3.7%	$18.7M+14.1%	$16.4M
Current Liabilities	$42.7M-19.9%	$53.2M-17.8%	$64.8M+68.1%	$38.5M-41.9%	$66.4M+38.4%	$48.0M+62.7%	$29.5M+85.1%	$15.9M-25.7%	$21.4M+47.7%	$14.5M+157.1%	$5.6M-65.2%	$16.2M-9.7%	$18.0M-1.7%	$18.3M+13.3%	$16.1M
Non-Current Liabilities	$135.0M-10.6%	$151.0M-12.5%	$172.6M+349.4%	$38.4M-41.1%	$65.2M-20.7%	$82.2M+51.6%	$54.2M+653.9%	$7.2M-42.1%	$12.4M-33.8%	$18.8M+17131.2%	$109K+626.7%	$15K-25.0%	$20K-95.1%	$405K+73.1%	$234K
Long-Term Debt	$120.0M-12.6%	$137.3M-11.5%	$155.1M+659.9%	$20.4M-54.3%	$44.6M-26.3%	$60.5M+12.9%	$53.6M+670.8%	$7.0M-64.7%	$19.7M-16.0%	$23.4M	$0	$0	N/A	N/A	N/A
Total Equity	$113.0M+2.6%	$110.1M+7.5%	$102.4M+11.3%	$92.1M+40.3%	$65.6M+22.8%	$53.4M+17.3%	$45.6M+15.6%	$39.4M+9.9%	$35.9M+12.8%	$31.8M+38.9%	$22.9M+65.2%	$13.8M+77.9%	$7.8M+0.4%	$7.8M+39.5%	$5.6M
Retained Earnings	$11.2M+13.8%	$9.8M+301.8%	$2.5M+147.6%	$990K+104.4%	-$22.3M+31.3%	-$32.4M+18.0%	-$39.6M+11.9%	-$44.9M+4.2%	-$46.8M+6.6%	-$50.1M+6.3%	-$53.5M+14.0%	-$62.2M+7.9%	-$67.6M-0.2%	-$67.4M-3.1%	-$65.4M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Total Assets	$254.8M-14.9%	$276.7M-9.8%	$283.5M-12.8%	$290.7M-7.5%	$299.3M-7.9%	$306.6M-5.9%	$325.0M-1.9%	$314.4M-7.5%
Current Assets	$28.7M-42.1%	$36.8M-33.2%	$39.6M-41.3%	$42.5M-19.7%	$49.6M-19.4%	$55.0M-5.0%	$67.6M+15.3%	$53.0M-15.1%
Cash & Equivalents	$235K+21.1%	$131K-33.2%	$257K-43.0%	$125K-63.5%	$194K-54.1%	$196K-17.6%	$451K+244.3%	$342K+59.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$24.4M-45.7%	$33.6M-34.9%	$35.8M-44.2%	$38.4M-23.0%	$44.9M-23.0%	$51.7M-6.8%	$64.3M+15.6%	$49.8M-15.7%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$138.2M0.0%	$138.2M0.0%	$138.2M0.0%	$138.2M0.0%	$138.2M0.0%	$138.2M0.0%	$138.2M0.0%	$138.2M0.0%
Total Liabilities	$161.5M-13.0%	$166.4M-14.1%	$171.3M-19.8%	$177.7M-13.0%	$185.6M-14.2%	$193.8M-11.6%	$213.6M-5.7%	$204.2M-14.0%
Current Liabilities	$42.5M-7.2%	$42.3M-15.3%	$41.0M-36.6%	$42.7M-19.9%	$45.8M-21.6%	$49.9M-11.2%	$64.7M+11.4%	$53.2M-17.8%
Non-Current Liabilities	$119.0M-14.9%	$124.2M-13.7%	$130.3M-12.5%	$135.0M-10.6%	$139.8M-11.5%	$143.8M-11.7%	$148.9M-11.6%	$151.0M-12.5%
Long-Term Debt	$104.9M-15.6%	$110.5M-15.2%	$116.0M-13.8%	$120.0M-12.6%	$124.3M-13.2%	$130.3M-11.7%	$134.6M-11.4%	$137.3M-11.5%
Total Equity	$93.3M-18.0%	$110.3M-2.3%	$112.2M+0.7%	$113.0M+2.6%	$113.7M+4.7%	$112.8M+5.7%	$111.4M+6.3%	$110.1M+7.5%
Retained Earnings	-$9.4M-177.8%	$7.4M-37.9%	$9.9M-9.8%	$11.2M+13.8%	$12.1M+60.6%	$11.8M+84.6%	$11.0M+138.2%	$9.8M+301.8%

Not reported in any period shown, so not listed: Inventory.

DLHC Cash Flow Statement

DLHC quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$13.9M	$23.2M-15.2%	$27.4M-11.8%	$31.0M+2396.6%	$1.2M-97.3%	$45.7M+134.8%	$19.5M+7.8%	$18.0M+28.1%	$14.1M+115.8%	$6.5M+8.0%	$6.0M+204.6%	$2.0M+19.1%	$1.7M-7.8%	$1.8M+163.7%	-$2.8M-186.9%	-$987K
Depreciation & Amortization	N/A	$17.2M+0.7%	$17.1M+9.6%	$15.6M+103.0%	$7.7M-5.5%	$8.1M+15.9%	$7.0M+77.0%	$4.0M+76.4%	$2.2M+27.8%	$1.8M+41.0%	$1.2M+2161.8%	$55K-48.1%	$106K-12.4%	$121K+0.8%	$120K+6.2%	$113K
Stock-Based Compensation	N/A	$1.5M-22.9%	$1.9M-1.2%	$1.9M-26.3%	$2.6M	N/A	N/A	N/A	$1.4M+107.7%	$662K+42.1%	$466K-2.7%	$479K+1.5%	$472K+129.1%	$206K-47.8%	$395K+3191.7%	$12K
Capital Expenditures	$67K	$241K-71.2%	$836K+33.8%	$625K-28.3%	$872K+746.6%	$103K-32.2%	$152K-62.5%	$405K-38.1%	$654K-38.5%	$1.1M+113.7%	$498K+250.7%	$142K+992.3%	$13K+44.4%	$9K-86.8%	$68K+83.8%	$37K
Free Cash Flow	$13.8M	$23.0M-13.4%	$26.5M-12.8%	$30.4M+8096.2%	$371K-99.2%	$45.6M+136.1%	$19.3M+9.4%	$17.6M+31.4%	$13.4M+145.8%	$5.5M-1.5%	$5.5M+201.0%	$1.8M+11.4%	$1.7M-8.0%	$1.8M+161.9%	-$2.9M-183.2%	-$1.0M
Investing Cash Flow	-$67K	-$241K+71.2%	-$836K+99.5%	-$181.2M-20679.5%	-$872K-1881.8%	-$44K+99.9%	-$32.8M+51.4%	-$67.5M-10218.7%	-$654K+50.2%	-$1.3M+96.0%	-$32.7M-22955.6%	-$142K-992.3%	-$13K-44.4%	-$9K+86.8%	-$68K-83.8%	-$37K
Financing Cash Flow	-$13.8M	-$23.2M+12.2%	-$26.4M-117.6%	$150.2M+720.6%	-$24.2M-5.5%	-$22.9M-277.1%	$12.9M-71.2%	$44.9M+474.1%	-$12.0M-223.7%	-$3.7M-115.1%	$24.6M+12962.8%	-$191K+83.4%	-$1.2M+22.0%	-$1.5M-128.3%	$5.2M+771.0%	$600K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$211K	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Operating Cash Flow	$4.2M-56.1%	$3.8M-73.9%	-$4.8M+58.7%	$10.7M-14.1%	$9.6M+106.7%	$14.5M+177.3%	-$11.5M-327.5%	$12.4M-22.5%
Depreciation & Amortization	$4.0M-7.1%	$4.3M+0.8%	$4.3M-0.2%	$4.3M+0.4%	$4.3M+0.8%	$4.3M+0.5%	$4.3M+1.3%	$4.3M+0.1%
Stock-Based Compensation	-$219K-139.1%	$617K+16.0%	$647K+235.2%	N/A	$560K-21.9%	$532K-44.2%	$193K-68.9%	N/A
Capital Expenditures	$0-100.0%	$0-100.0%	$39K-92.9%	$28K-86.6%	$212K+31.7%	-$551K+88.7%	$552K+217.2%	$209K+364.4%
Free Cash Flow	$4.2M-55.1%	$3.8M-72.9%	-$4.8M+60.2%	$10.7M-12.9%	$9.4M+109.4%	$14.0M+182.5%	-$12.1M-346.9%	$12.2M-23.5%
Investing Cash Flow	$0+100.0%	$0-100.0%	-$39K+92.9%	-$28K+86.6%	-$212K-31.7%	$551K+288.7%	-$552K-217.2%	-$209K-322.3%
Financing Cash Flow	-$4.1M+56.2%	-$3.9M+74.4%	$4.9M-59.5%	-$10.7M+12.9%	-$9.4M-118.5%	-$15.3M-216.9%	$12.2M+344.9%	-$12.3M+25.2%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

DLHC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DLHC quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	18.9%-0.7pp	19.6%-1.7pp	21.3%+3.0pp	18.3%-2.6pp	20.9%-0.9pp	21.8%-0.6pp	22.4%-0.3pp	22.7%+0.3pp	22.4%	N/A	N/A	N/A	N/A	N/A	14.1%
Operating Margin	4.9%-1.4pp	6.3%+1.7pp	4.5%-3.9pp	8.4%+1.4pp	7.0%+0.6pp	6.4%+0.2pp	6.2%-0.4pp	6.6%+0.9pp	5.7%	N/A	N/A	N/A	N/A	N/A	-10.1%
Net Margin	0.4%-1.5pp	1.9%+1.5pp	0.4%-5.5pp	5.9%+1.8pp	4.1%+0.7pp	3.4%+0.1pp	3.3%+1.9pp	1.4%-1.5pp	2.8%	N/A	N/A	N/A	N/A	N/A	-10.3%
Return on Equity	1.2%-5.5pp	6.7%+5.3pp	1.4%-23.9pp	25.3%+9.8pp	15.5%+2.1pp	13.3%+1.6pp	11.7%+7.0pp	4.7%-4.5pp	9.2%-1.5pp	10.7%-27.5pp	38.2%-0.5pp	38.7%+40.7pp	-2.0%+24.1pp	-26.1%+51.6pp	-77.8%
Return on Assets	0.5%-1.9pp	2.4%+1.9pp	0.4%-13.4pp	13.8%+8.6pp	5.1%+1.3pp	3.9%-0.2pp	4.1%+1.2pp	2.9%-1.8pp	4.7%-0.5pp	5.2%-25.3pp	30.5%+12.7pp	17.8%+18.4pp	-0.6%+7.1pp	-7.7%+12.0pp	-19.7%
Current Ratio	1.000.0x	0.990.0x	0.96-0.2x	1.13+0.2x	0.93+0.2x	0.78-0.1x	0.91-0.2x	1.09+0.3x	0.81+0.1x	0.73-1.1x	1.82+0.8x	1.04+0.2x	0.890.0x	0.92+0.1x	0.78
Debt-to-Equity	1.06-0.2x	1.25-0.3x	1.51+1.3x	0.22-0.5x	0.68-0.5x	1.130.0x	1.18+1.0x	0.18-0.4x	0.55-0.2x	0.74+0.7x	0.000.0x	0.00-2.3x	2.31-0.1x	2.41-0.5x	2.95
Asset Turnover	1.19-0.1x	1.26+0.2x	1.11-1.2x	2.34+1.1x	1.25+0.1x	1.14-0.1x	1.24-0.9x	2.13+0.5x	1.66	N/A	N/A	N/A	N/A	N/A	1.91
FCF Margin	6.7%0.0pp	6.7%-1.4pp	8.1%+8.0pp	0.1%-18.4pp	18.5%+9.3pp	9.2%-1.8pp	11.0%+0.9pp	10.1%+5.3pp	4.7%	N/A	N/A	N/A	N/A	N/A	-2.4%

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Gross Margin	16.8%-2.1pp	19.9%+0.1pp	19.6%-0.3pp	17.1%-2.5pp	18.8%+0.3pp	19.8%-1.6pp	19.8%+1.0pp	19.6%-1.9pp
Operating Margin	-8.9%-13.4pp	-0.1%-5.8pp	2.1%-4.1pp	2.8%-3.8pp	4.5%-1.2pp	5.7%-0.2pp	6.2%-0.8pp	6.6%+6.5pp
Net Margin	-38.0%-38.3pp	-4.3%-5.3pp	-1.9%-3.1pp	-1.1%-3.5pp	0.4%-0.8pp	1.0%-0.8pp	1.2%-1.0pp	2.4%+5.0pp
Return on Equity	-18.0%-18.3pp	-2.3%-3.1pp	-1.2%-2.2pp	-0.8%-2.9pp	0.3%-0.8pp	0.8%-0.9pp	1.0%-1.1pp	2.1%+4.6pp
Return on Assets	-6.6%-6.7pp	-0.9%-1.2pp	-0.5%-0.8pp	-0.3%-1.1pp	0.1%-0.3pp	0.3%-0.3pp	0.3%-0.3pp	0.7%+1.5pp
Current Ratio	0.67-0.4x	0.87-0.2x	0.97-0.1x	1.000.0x	1.080.0x	1.10+0.1x	1.040.0x	0.990.0x
Debt-to-Equity	1.130.0x	1.00-0.2x	1.03-0.2x	1.06-0.2x	1.09-0.2x	1.15-0.2x	1.21-0.2x	1.25-0.3x
Asset Turnover	0.17-0.1x	0.21-0.1x	0.240.0x	0.280.0x	0.280.0x	0.290.0x	0.280.0x	0.310.0x
FCF Margin	9.5%-1.7pp	6.4%-9.3pp	-7.0%+6.3pp	13.1%+0.4pp	11.2%+6.8pp	15.6%+10.8pp	-13.3%-18.3pp	12.7%-3.1pp

Note: The current ratio is below 1.0 (1.00), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
DLH Holdings Corp. DLHC	FY2025	$344.5M	$1.4M	0.4%	$58.0M	37/100
System1, Inc. SST	FY2025	$266.1M	-$65.3M	-24.6%	$18.1M	15/100
Team, Inc. TISI	FY2025	$896.5M	-$49K	0.0%	$113.0M	34/100
Primech Holdings Ltd. PMEC	FY2025	$74.3M	-$1.9M	-2.6%	$20.7M	54/100
Where Food Comes From, Inc. WFCF	FY2025	$24.9M	$1.5M	6.2%	$70.7M	58/100
Network-1 Technologies, Inc. NTIP	FY2025	$150K	-$2.4M	N/A	$35.7M	—

Where DLH Holdings Corp. Ranks

Frequently Asked Questions

What is DLH Holdings Corp.'s annual revenue?

DLH Holdings Corp. (DLHC) reported $344.5M in total revenue for fiscal year 2025. This represents a -13.0% 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 DLH Holdings Corp.'s revenue growing?

DLH Holdings Corp. (DLHC) revenue declined by 13.0% year-over-year, from $395.9M to $344.5M in fiscal year 2025.

Is DLH Holdings Corp. profitable?

Yes, DLH Holdings Corp. (DLHC) reported a net income of $1.4M in fiscal year 2025, with a net profit margin of 0.4%.

What is DLH Holdings Corp.'s EBITDA?

DLH Holdings Corp. (DLHC) had EBITDA of $34.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does DLH Holdings Corp. have?

As of fiscal year 2025, DLH Holdings Corp. (DLHC) had $125K in cash and equivalents against $120.0M in long-term debt.

What is DLH Holdings Corp.'s gross margin?

DLH Holdings Corp. (DLHC) had a gross margin of 18.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is DLH Holdings Corp.'s operating margin?

DLH Holdings Corp. (DLHC) had an operating margin of 4.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is DLH Holdings Corp.'s net profit margin?

DLH Holdings Corp. (DLHC) had a net profit margin of 0.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is DLH Holdings Corp.'s return on equity (ROE)?

DLH Holdings Corp. (DLHC) has a return on equity of 1.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is DLH Holdings Corp.'s free cash flow?

DLH Holdings Corp. (DLHC) generated $23.0M in free cash flow during fiscal year 2025. This represents a -13.4% 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 DLH Holdings Corp.'s operating cash flow?

DLH Holdings Corp. (DLHC) generated $23.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are DLH Holdings Corp.'s total assets?

DLH Holdings Corp. (DLHC) had $290.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are DLH Holdings Corp.'s capital expenditures?

DLH Holdings Corp. (DLHC) invested $241K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does DLH Holdings Corp. have outstanding?

DLH Holdings Corp. (DLHC) had 14M shares outstanding as of fiscal year 2025.

What is DLH Holdings Corp.'s current ratio?

DLH Holdings Corp. (DLHC) had a current ratio of 1.00 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is DLH Holdings Corp.'s debt-to-equity ratio?

DLH Holdings Corp. (DLHC) had a debt-to-equity ratio of 1.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is DLH Holdings Corp.'s return on assets (ROA)?

DLH Holdings Corp. (DLHC) had a return on assets of 0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is DLH Holdings Corp.'s P/E ratio?

DLH Holdings Corp. (DLHC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $58.0M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is DLH Holdings Corp.'s price-to-sales ratio?

DLH Holdings Corp. (DLHC) trades at 0.2x sales, its market capitalization divided by revenue of $253.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $58.0M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is DLH Holdings Corp.'s Altman Z-Score?

DLH Holdings Corp. (DLHC) has an Altman Z-Score of 1.62, placing it in the Distress Zone (elevated 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 DLH Holdings Corp.'s Piotroski F-Score?

DLH Holdings Corp. (DLHC) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 DLH Holdings Corp.'s earnings high quality?

DLH Holdings Corp. (DLHC) has an earnings quality ratio of 17.05x, 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 DLH Holdings Corp. cover its interest payments?

DLH Holdings Corp. (DLHC) has an interest coverage ratio of 1.26x, meaning it can struggle to 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 DLH Holdings Corp.?

DLH Holdings Corp. (DLHC) scores 37 out of 100 on our Financial Health Score, indicating weak 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.