DFIN
Donnelley Financial Solutions, Inc.
Next earnings Jul 29, 2026 · consensus $1.67 EPS, $226M rev
Last earnings -15.6% on 2026-05-05
$40.55
▲ +2.40%$40.55▼ -32.88%
over 1Y
L $36.74EODHDH $65.52
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.4%
1W+5.3%
1M+3.1%
3M-11.4%
YTD-11.1%
1Y-32.9%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 9 analysts
Buy
Quality software-led transition story masked by an $82.8M pension settlement charge; fair price, modest upside.
Revenue $767M · FY2025
The read
Middling fundamentals and a rich price (~77% above fair value) leave little margin of safety — a wait-and-see.
DFIN's headline FY2025 numbers look ugly — net income collapsed 64.9% to $32.4M and diluted EPS fell to $1.15 from $3.06 — but the MD&A makes clear the damage is overwhelmingly a one-time, non-cash $82.8M pension plan settlement charge ($60.3M after-tax) tied to terminating the primary defined benefit plan. Strip that out and the underlying business actually improved: operating income rose 3.3% to $141.1M, Adjusted EBITDA grew to $239.8M from $217.3M, and operating cash flow held at $165M. The reported P/E of 35.6 is therefore misleading; on normalized earnings the multiple is materially lower.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $993M | $834M | $797M | $782M | $767M |
| Gross profit | — | — | — | — | — |
| Operating income | $219M | $145M | $110M | $137M | $141M |
| Net income | $146M | $103M | $82.2M | $92.4M | $32.4M |
| Diluted EPS | $4.14 | $3.17 | $2.69 | $3.06 | $1.15 |
| Net margin | 14.7% | 12.3% | 10.3% | 11.8% | 4.2% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$1.19B
EV / EBITDA5.9
EV / Sales1.5
EV / FCF11.0
P / FCF9.6
PEG (trailing)—
Earnings yield3.1%
FCF yield10.4%
Quality & risk
ROIC (est.)20.2%
Free cash flow$108M
Total debt$171M
Net cash-$147M
Altman Z-Score4.02 safe
Piotroski F-Score6/8
Capital returns
Buyback yield17.8%
Dividend yield (est.)—
Shareholder yield17.8%
Shares Δ YoY-10.4%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
- 8-K Officer / director change2026-05-14
Annual meeting: director election, exec officer matter, routine governance disclosures
- 8-K Earnings results2026-05-05
Q1 2026 results filed; software mix continues to grow vs declining print/tech-services
- 10-Q Quarterly report2026-05-05
Q1 2026 results filed; software mix continues to grow vs declining print/tech-services
- 8-K Other event2026-04-21
Other event disclosure (Item 8.01), no material financial impact flagged
- DEF 14A Proxy statement2026-04-01
DEF 14A proxy: routine board, say-on-pay and auditor ratification ahead of annual meeting
- 8-K Earnings results2026-02-17
FY25: op income +3.3%, Adj EBITDA $240M, but $82.8M pension charge cut net income 65%
- 10-K Annual report2026-02-17
FY25: op income +3.3%, Adj EBITDA $240M, but $82.8M pension charge cut net income 65%
- 8-K Earnings results2025-10-29
Q3 2025 10-Q: ongoing software growth, capital markets compliance volumes still soft
- 10-Q Quarterly report2025-10-29
Q3 2025 10-Q: ongoing software growth, capital markets compliance volumes still soft
Recent filings
all on EDGAR ↗SDFiling2026-05-29open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗8-KPeriod ending 2026-05-132026-05-14open ↗10-QPeriod ending 2026-03-312026-05-05open ↗8-KPeriod ending 2026-05-052026-05-05open ↗SCHEDULE 13GFiling2026-04-29open ↗
Frequently asked
- Is Donnelley Financial Solutions, Inc. (DFIN) a buy?
- DFIN currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Quality software-led transition story masked by an $82.8M pension settlement charge; fair price, modest upside.
- What is DFIN's fair value?
- A Modified-Graham model based on DFIN's SEC fundamentals estimates a fair value of about $9.29. It is an estimate from reported earnings, not a price target.
- Is DFIN overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, DFIN currently appears overvalued relative to its SEC-grounded earnings power.
- What is Donnelley Financial Solutions, Inc.'s quality score?
- DFIN scores 60.03921568627451/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001669811, latest 10-Q filed 2026-05-05) · EODHD · analysis by claude-code · as of 6/25/2026, 2:17:54 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.