Donnelley Financial Solutions, Inc. (DFIN) Stock

Donnelley Financial Solutions, Inc. (DFIN) is a Technology stock trading at $48.00 (as of 2026-09-02), with a market capitalization of $1.18B and a trailing P/E of 33.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Donnelley Financial Solutions, Inc. (DFIN) provides software and services for managing capital markets, compliance, and communications needs across four segments, including Capital Markets software and compliance communications, and Investment Companies software and compliance communications. Its offerings include tools such as Venue, ActiveDisclosure and eBrevia, plus the Arc Suite for storing and managing regulatory information, supporting document preparation and submission for public and private companies.

Understand Donnelley Financial Solutions, Inc.: how it makes money

Donnelley Financial sells compliance and transaction software (ActiveDisclosure, Venue, ArcSuite) plus print services to public companies, investment managers, and banks. Revenue is shifting from print toward software and tech-enabled services (80% of sales), with core compliance software growing at 16%.

The profit model is a structural mix-shift in progress: recurring compliance software subscriptions (16% growth) are steadily replacing one-time print and transactional revenue, reallocating the base toward sticky multi-year client relationships embedded in SEC reporting workflows.

Revenue by segment (latest quarter)
Software Solutions$0.1B
Tech-Enabled Services$0.1B
Print & Distribution$0.0B

Business quality (Solid): Solid business earning 25% operating margins with 0.7x net leverage, but at 33.1x earnings the valuation already prices a clean transition from print to software.

Valuation: Trades at 33× trailing earnings · $1.2B market cap.

Bull case

  • Recurring software compounds value: ActiveDisclosure growth is driven by higher client counts, greater per-client value, and migration away from legacy print services. This multi-vector expansion makes the recurring revenue base harder to replicate than a simple land-and-expand model.
  • Cash flow funds the transition: DFIN generated $61.2 million of Q2 free cash flow at 0.7x net leverage, giving it room to fund product investment and absorb print revenue erosion without adding debt.

Bear case

  • Print decline is structural: Print and distribution demand (roughly 20% of revenue) faces ongoing secular contraction that management warns could accelerate as eDelivery adoption grows. This is not a cyclical dip but permanent erosion of the legacy base.
  • ArcSuite needs a regulatory spark: ArcSuite growth has slowed materially outside periods of regulatory change, leaving a key compliance software franchise exposed to multi-year gaps between rulemaking cycles and capping the growth narrative.
  • Rich multiple for modest growth: At 33.1x trailing earnings on 3% revenue growth, the stock prices in flawless execution of the software migration with little margin for a miss in any quarter.
Valuation — source: SEC EDGAR (first-party)
Price$48.00
Market Cap$1.18B
P/E Ratio33.5
EV / EBITDA6.6
Price / Book3.05
Price / Sales1.52
FCF Yield9.1%
DCF Value (model)$60.90
DCF Upside vs Price26.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$767.00M
Net Margin4.2%
Revenue Growth (YoY)2.8%
EPS Growth (YoY)11.5%
FCF Growth (YoY)18.4%
Financial Health — source: SEC EDGAR
Altman Z-Score4.29 (safe)
Valuation vs Sector & Industry
Stock P/E33.5
Sector P/E (Technology)31.8
Industry P/E (Business Services)28.3
vs Sector5.3%
vs Industry18.4%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($188.34M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEODaniel N. Leib
Employees1,800
CountryUS
IPO Date2016-09-26

Donnelley Financial Solutions, Inc. earnings call transcripts

  • DFIN Q2 FY26 earnings call transcript (reported 2026-07-30) · analysis

All DFIN earnings calls

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DFIN earnings history · DFIN institutional & insider holders · DFIN KPIs & operating metrics · DFIN financials · DFIN investor presentations & press releases · DFIN SEC filings · DFIN peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.