DFIN on NYSE

Donnelley Financial Solutions

American financial company

Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

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  • TickerDFIN on NYSE1
  • IndustryServices-Miscellaneous Business Services1
  • HeadquartersLancaster, United States1
  • Websitewww.dfinsolutions.com
  • Legal formDelaware corporation1
  • Incorporated inDE4
  • Business address391 Steel Way, Lancaster, Pa 176014
  • Filer categoryLarge accelerated filer4

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Donnelley Financial Solutions image from its website
Image: dfinsolutions.com6

Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

18.4%Operating margin7
4.2%Net margin7
-1.9%Revenue growth, 20257
8.5%Return on equity7
0.44×Debt to equity7
$107.8MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Software Solutions brought in 47% of the revenue Donnelley Financial Solutions broke down this way in fiscal 2025.

  1. Software Solutions$358.4M747%up 9% from 2024
  2. Technology Service$298.3M739%down 7% from 2024
  3. Print And Distribution Service$110.3M714%down 16% from 2024
Products and services by year
Products and services202320242025
Software Solutions$292.7M$329.7M$358.4M
Technology Service$336.9M$320.8M$298.3M
Print And Distribution Service$167.6M$131.4M$110.3M

Business segments

Capital Markets Compliance And Communications Management brought in 39% of the revenue Donnelley Financial Solutions broke down this way in fiscal 2025.

  1. Capital Markets Compliance And Communications Management$296.2M739%down 8% from 2024
  2. Capital Markets Software Solutions$230.0M730%up 8% from 2024
  3. Investment Companies Software Solutions$128.4M717%up 11% from 2024
  4. Investment Companies Compliance And Communications Management$112.4M715%down 14% from 2024
Business segments by year
Business segments202320242025
Capital Markets Compliance And Communications Management$355.4M$321.7M$296.2M
Capital Markets Software Solutions$185.9M$213.6M$230.0M
Investment Companies Software Solutions$106.8M$116.1M$128.4M
Investment Companies Compliance And Communications Management$149.1M$130.5M$112.4M

Regions

United States brought in 89% of the revenue Donnelley Financial Solutions broke down this way in fiscal 2025.

  1. United States$684.8M789%down 2% from 2024
  2. Europe$29.5M74%up 3% from 2024
  3. Canada$26.1M73%down 2% from 2024
  4. Asia$24.7M73%down 4% from 2024
  5. Other Geographic Area$1.9M70%up 6% from 2024
Regions by year
Regions202320242025
United States$698.1M$699.2M$684.8M
Europe$31.0M$28.7M$29.5M
Canada$29.6M$26.6M$26.1M
Asia$36.6M$25.6M$24.7M
Other Geographic Area$1.9M$1.8M$1.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin36¢$277.9M
  • Other costs56¢$433.1M
  • Interest2¢$12.9M
  • Income tax1¢$10.7M
  • Profit4¢$32.4M

Out of $767.0M in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending24¢$57.1M
  • Share buybacks76¢$185.0M

Out of $164.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.7

Financial statements

Revenue8910117$767.0M in 2025−12% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $874.7M$874.7M20192020: $894.5M$894.5M2020+2%2021: $993.3M$993.3M2021+11%2022: $833.6M$833.6M2022−16%2023: $797.2M$797.2M2023−4%2024: $781.9M$781.9M2024−2%2025: $767.0M$767.0M2025−2%
Operating income8910117$141.1M in 2025+80% since 2019
0$100.0M$200.0M$300.0M2019: $78.5M$78.5M20192020: $3.6M$3.6M2020−95%2021: $219.3M$219.3M2021+5992%2022: $145.0M$145.0M2022−34%2023: $110.0M$110.0M2023−24%2024: $136.6M$136.6M2024+24%2025: $141.1M$141.1M2025+3%
Net income8910117$32.4M in 2025−14% since 2019
-$50.0M0$50.0M$100.0M$150.0M2019: $37.6M$37.6M20192020: -$25.9M-$25.9M20202021: $145.9M$145.9M20212022: $102.5M$102.5M2022−30%2023: $82.2M$82.2M2023−20%2024: $92.4M$92.4M2024+12%2025: $32.4M$32.4M2025−65%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Total net sales$767.0M$781.9M$797.2M
Total cost of sales$280.4M$297.9M$333.3M
Selling, general and administrative expenses$277.9M$290.9M$282.1M
Depreciation and amortization$59.3M$60.2M$56.7M
Restructuring, impairment and other charges, net$10.4M$6.6M$9.8M
Other operating (income) loss, net-$2.1M-$10.3M$5.3M
Income from operations$141.1M$136.6M$110.0M
Interest expense, net$12.9M$12.9M$15.8M
Pension plan settlement charge$82.8M$0$0
Investment and other loss (income), net$2.3M-$1.4M-$7.8M
Earnings before income taxes$43.1M$125.1M$102.0M
Income tax expense$10.7M$32.7M$19.8M
Net earnings$32.4M$92.4M$82.2M
Basic$1.18$3.16$2.81
Diluted$1.15$3.06$2.69
Basic27.5M shares29.2M shares29.3M shares
Diluted28.2M shares30.2M shares30.6M shares

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The story

Originally established in 1983 as the financial business unit of RR Donnelley, Donnelley Financial Solutions (DFIN) was spun off as an independent company in October 2016.

In December 2018, DFIN acquired eBrevia, a provider of artificial intelligence-based data extraction and contract analytics software.

In December 2021, DFIN acquired Guardum, a provider of data security and privacy software which has been integrated into its Venue virtual data room.

From Wikipedia’s article on Donnelley Financial Solutions, shared under CC BY-SA 4.0.5

Leadership

Who has led Donnelley Financial Solutions, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Daniel Leib2016–now

President

  1. Suzanne S. Bettman2016
  2. Craig Clay2021–now

Chief financial officer

  1. David A. Gardella2016–now

Chief operating officer

  1. Thomas F. Juhase2016–2020
20202025
Board members and other officers (19)

Products and brands

Global Capital Markets (GCM)

DFIN's Global Capital Markets business provides software and services to corporate and financial services clients. The company's ActiveDisclosure product is used by corporate clients to create and manage SEC filings, either on an ongoing basis or in preparation for an IPO. The Venue product provides virtual dataroom services to facilitate information sharing in M&A transactions, while the eBrevia product line (acquired in December 2018) provides AI-based contract analysis. The company also owns EDGAR Online, which provides the investment community online access to the data within SEC filings. The GCM segment made up 65% of DFIN's 2018 revenue.

Global Investment Markets (GIM)

DFIN's Global Investment Markets (GIM) business provides software and services to investment management businesses, including United States based mutual funds, hedge and alternative investment funds, insurance companies and overseas investment structures for collective investments. The company also provides products to third-party service providers and custodians who support investment managers, and sells products and distribution services to broker networks and financial advisors. The company's products include FundSuiteArc, a cloud-based platform for assembling and managing information required by regulators, and Mediant, a software suite that allows brokers and financial advisors to monitor and manage shareholder communications. The GIM segment made up 35% of the company's 2018 revenue.

From Wikipedia’s article on Donnelley Financial Solutions, shared under CC BY-SA 4.0.5

Timeline

  1. Sep 20, 2016New chief executive Daniel Leib becomes CEO15
  2. Feb 22, 2016Founded Donnelley Financial Solutions is founded37

Filings

331 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 35 major events, 183 insider forms, 27 large holders, 66 other. The latest 20:

  1. Sep 17, 20264 EDGAR
  2. Sep 8, 20264 EDGAR
  3. Sep 3, 2026144 EDGAR
  4. Sep 3, 20264 EDGAR
  5. Aug 21, 20264 EDGAR
  6. Aug 19, 2026144 EDGAR
  7. Aug 18, 20264 EDGAR
  8. Aug 18, 20264 EDGAR
  9. Aug 14, 2026144 EDGAR
  10. Jul 31, 2026SCHEDULE 13G/A EDGAR
  11. Jul 30, 202610-Q EDGAR
  12. Jul 30, 20268-K EDGAR
  13. Jul 6, 20264 EDGAR
  14. Jul 6, 20263 EDGAR
  15. May 29, 2026SD EDGAR
  16. May 15, 20264 EDGAR
  17. May 15, 20264 EDGAR
  18. May 15, 20264 EDGAR
  19. May 15, 20264 EDGAR
  20. May 15, 20264 EDGAR

The 331 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 27 such filings since October 2021, the latest 10:

  1. Jul 31, 2026SCHEDULE 13G/A
  2. Apr 29, 2026SCHEDULE 13G
  3. Apr 28, 2026SCHEDULE 13G/A
  4. Mar 26, 2026SCHEDULE 13G/A
  5. May 9, 2025SCHEDULE 13G/A
  6. Nov 8, 2024SC 13G/A
  7. Nov 8, 2024SC 13G
  8. Oct 23, 2024SC 13G/A
  9. May 16, 2024SC 13D/A
  10. May 9, 2024SC 13D/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,937,601$165.2M0.0%−57,728
State Street Corp1,200,445$50.4M0.0%+39,571
Vanguard Capital Management LLC1,056,961$44.3M0.0%−57,959
Alberta Investment Management Corp1,052,611$44.2M0.3%+200,000
Morgan Stanley820,801$34.4M0.0%−127,818
Rice Hall James & Associates, LLC775,119$32.5M1.6%−4,918
Dimensional Fund Advisors LP699,080$29.3M0.0%+12,749
Geode Capital Management, LLC633,806$26.6M0.0%+7,389
William Blair Investment Management, LLC631,933$26.5M0.1%+86,449
Fuller & Thaler Asset Management, Inc.629,252$26.4M0.1%+166,580
Arrowstreet Capital, Limited Partnership562,516$23.6M0.0%+490,614
Qube Research & Technologies Ltd530,227$22.2M0.0%+423,448
Algert Global LLC529,983$22.2M0.3%+252,383
Vanguard Portfolio Management LLC516,410$21.7M0.0%+13,751
Boston Trust Walden Corp449,160$18.8M0.1%−17,919
Royce & Associates LP434,271$18.2M0.1%−14,679
Charles Schwab Investment Management Inc429,256$18.0M0.0%−3,662
Shapiro Capital Management LLC425,415$17.8M1.1%−22,973
Frontier Capital Management Co LLC419,466$17.6M0.2%−234,352
Northern Trust Corp397,329$16.7M0.0%−21,354
Ophir Asset Management Pty Ltd368,192$15.4M1.3%+259,527
Mawer Investment Management Ltd.347,156$14.6M0.1%−76,548
Goldman Sachs Group Inc333,164$14.0M0.0%−81,148
Jpmorgan Chase & Co330,056$13.8M0.0%−5,111
Access Investment Management LLC306,305$12.8M3.3%+72,470

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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