DFIN
Donnelley Financial Solutions, Inc.

Donnelley Financial Solutions, Inc.DFIN

Technology · Software - Application
66.98USD
-0.36%
Nov 09, 2026
DFIN overview ready
Regulatory-Reporting Software and Managed Filing Services for Capital Markets
DFIN provides regulatory-reporting software, virtual data rooms, content-management tools, and technology-enabled filing services for corporate issuers, capital-markets transactions, and investment-company reporting.
Primary theme is leading
Finance, Tax & Accounting Software is leading (+18.9pp vs SPY over 21 sessions; 5 of 6 members ahead of SPY).
Advancing price action
Longer-term context reads early trend, with a near-term setup of daily advance.
Attractive valuation
Current market expectations look undemanding relative to the cash the business actually produces.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Regulatory changes impacting demand.
Market Nov 6Filing Sep 30Price action Nov 8Research Oct 20

Conviction Level

PriceAction8.6BusinessPerformance7.0BusinessQuality7.7Valuation7.6ThemeMomentum9.0Improving — Revenue growth has accelerated across 3 consecutive quarters, rising from +2.2% to +5.5% year over year. Reported earnings improved faster than operating income, so most of the improvement did not come from operations. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
+18.9pp
Theme return
+13.9%
Beating SPY
5 of 6
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Advancing price action
Longer-term context reads early trend, with a near-term setup of daily advance.
EntryBreakout + retest

Price broke through the weekly SMA200, then retested it constructively and recovered — a fresh structural entry rather than a chase.

Key Financials

Market Cap
$1.6B
Avg Volume (60D)
279.9K
60 sessions
Revenue Growth YoY
-1.9%
FY2025 vs FY2024
Gross Margin
+57.1%
Trailing twelve months
Operating Margin
+19.2%
Trailing twelve months
Free Cash Flow Yield
+11.0%
Distance from 200DMA
+40.5%
P/E
16.7x
EV / EBITDA
8.2x
EV / Sales
2.2x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Improving

Revenue growth has accelerated across 3 consecutive quarters, rising from +2.2% to +5.5% year over year. Reported earnings improved faster than operating income, so most of the improvement did not come from operations.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+5.5%
$185M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +10%
  2. +2.2%
  3. +2.8%
  4. +5.5%
Earnings growthTurned profitable
$0.85
Diluted EPS $0.85 vs -$1.49 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +9.5%
  2. +21%
  3. +13%
  4. n/a
Operating marginExpanding
17.6%
+1.5 pp YoY
Earnings improved more than operations did

Business Quality

7.7 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say cheap; own history is the dissenting view.
Donnelley Financial Solutions, Inc. has a Cheap valuation stance because current market expectations look undemanding relative to the cash the business actually produces.

Company Research

Thesis
DFIN provides regulatory-reporting software, virtual data rooms, content-management tools, and technology-enabled filing services for corporate issuers, capital-markets transactions, and investment-company reporting.
Opportunity
Moderate opportunity
Software, managed filing, and workflow platforms that help issuers, investment companies, and capital-markets participants prepare, govern, submit, and maintain regulated disclosures and investor communications.
Key risk
Regulatory changes impacting demand.

Economic classification

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Business & Markets

Technology · Software - Application
What they do

Donnelley Financial Solutions provides compliance and regulatory software and services globally, operating through segments focused on capital markets and investment companies to support disclosure, compliance, and communication workflows.

How it earns

The company generates revenue primarily through subscription-based software solutions and technology-enabled filing services.

Products & services
Venue
ActiveDisclosure
Arc Suite
Virtual data rooms
Filing-agent services
Customers & end markets
Public and private companies
Investment companies
Capital-markets participants
Market position

A leader in regulatory-reporting software and managed filing services for capital markets and investment companies.

Demand drivers
Medium cyclicality

Demand is influenced by capital markets activity and regulatory filing cycles but supported by recurring compliance needs.

Peers

Companies validated as economically comparable to DFIN — similar business, revenue model and scale.
PRICE ACTIONVALUATIONTHEME
Workiva Inc.Early Recovery — Constructive PullbackFair6.0MediumUnavailableNot in RS poolLocked$72.76−14.90%
BlackLine, Inc.Early Recovery — Failed ReclaimCheap6.0MediumUnavailableNot in RS poolLocked$25.89−23.11%
Vertex, Inc.Early Recovery — Daily AdvanceFair8.0HighUnavailableNot in RS poolLocked$17.08−2.90%