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DLX

Deluxe Corporation

DLX

Deluxe Corporation • NYSE
$20.32 ▼ -0.44% (-0.09)
Market Cap $914.56 M
52w High $24.30
52w Low $13.61
Dividend Yield 1.20%
P/E 11.16
Volume 103.75K
Outstanding Shares 45.01M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $540.247M ▲ $215.298M ▼ $33.729M ▲ 6.243% ▲ $1.09 ▲ $109.992M ▲
Q2-2025 $521.262M ▼ $218.473M ▼ $22.385M ▲ 4.294% ▲ $0.5 ▲ $96.091M ▲
Q1-2025 $536.471M ▲ $232.98M ▲ $14.013M ▲ 2.612% ▲ $0.31 ▲ $85.814M ▼
Q4-2024 $520.546M ▼ $225.188M ▼ $12.609M ▼ 2.422% ▼ $0.28 ▼ $85.937M ▼
Q3-2024 $528.444M $240.287M $18.1M 3.425% $0.41 $87.691M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $25.803M ▼ $2.587B ▲ $1.923B ▲ $663.871M ▲
Q2-2025 $26M ▼ $2.535B ▼ $1.896B ▼ $638.43M ▲
Q1-2025 $30.316M ▼ $2.574B ▼ $1.951B ▼ $622.263M ▲
Q4-2024 $34.399M ▼ $2.831B ▲ $2.21B ▲ $620.752M ▲
Q3-2024 $41.307M $2.623B $2.01B $612.559M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $33.766M ▲ $67.147M ▲ $-31.746M ▼ $-13.001M ▲ $22.146M ▲ $43.851M ▼
Q2-2025 $22.452M ▲ $51.1M ▲ $-19.7M ▲ $-57.7M ▲ $-25.8M ▲ $51.1M ▲
Q1-2025 $14.048M ▲ $50.281M ▼ $-24.595M ▼ $-268.639M ▼ $-241.868M ▼ $24.313M ▼
Q4-2024 $12.649M ▲ $60.159M ▼ $-18.519M ▼ $184.826M ▲ $223.558M ▲ $35.547M ▼
Q3-2024 $8.969M $67.9M $-7.385M $-53.472M $7.591M $46.749M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Checks revenue
Checks revenue
 $0 ▲$0 ▲$170.00M ▲$170.00M ▲
Datadriven marketing solutions
Datadriven marketing solutions
 $50.00M ▲$0 ▼$60.00M ▲$80.00M ▲
Forms and other products
Forms and other products
 $0 ▲$0 ▲$50.00M ▲$50.00M ▲
Merchant services revenue
Merchant services revenue
 $0 ▲$0 ▲$100.00M ▲$100.00M ▲
Other
Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Other Payment Solutions Member
Other Payment Solutions Member
 $0 ▲$0 ▲$20.00M ▲$20.00M ▲
Treasury management solutions
Treasury management solutions
 $60.00M ▲$0 ▼$50.00M ▲$60.00M ▲
Product
Product
 $0 ▲$290.00M ▲$0 ▼$0 ▲
Service
Service
 $0 ▲$250.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Deluxe’s income statement shows a business that is profitable but running on fairly thin margins. Revenue has been broadly flat to slightly down over the last few years, which means the company is not in a strong growth phase yet, despite its strategic pivot. Gross profit has held up reasonably well, suggesting the core economics of what they sell are still sound. Operating profit has been steady rather than expanding, indicating that cost controls are working but not yet unlocking major margin improvement. Net income and earnings per share have bounced around from year to year, reflecting restructuring, transition costs, and the shift from print to payments and data. Overall, the company is making money, but the earnings profile is still in “transition mode” rather than showing a clear, strong upward trend.

Balance Sheet

Balance Sheet The balance sheet is serviceable but leveraged. Total assets have stayed relatively stable, which points to a mature business rather than one aggressively expanding its asset base. Debt levels are high compared with the company’s equity, making leverage one of the key financial risks to watch. Cash on hand is quite low, so the company is relying heavily on ongoing cash generation and access to financing rather than on a large cash cushion. Equity has inched up over time, which is a modest positive, but the overall picture is of a balance sheet that needs careful management, particularly around debt reduction and refinancing over time.

Cash Flow

Cash Flow Cash flow is steadier than the income statement might suggest. Operating cash flow has been consistently positive and fairly stable, which shows that the underlying businesses do generate reliable cash. Free cash flow is also positive but not large, leaving a limited buffer after funding necessary capital spending. Investment in the business through capital expenditures has been consistent, which supports the transformation strategy but also keeps free cash flow from expanding more quickly. In short, Deluxe throws off enough cash to support operations and some strategic investment, but not so much that it can easily de-risk the balance sheet or fund big new initiatives without trade-offs.

Competitive Edge

Competitive Edge Deluxe sits in an interesting middle ground competitively. It is no longer just a check printer; it now combines payments, data solutions, merchant services, and print under one umbrella. Its long-standing relationships with small businesses and financial institutions give it a sticky customer base and strong cross‑selling opportunities. The very large volume of payments it processes provides valuable data and some scale advantage. At the same time, it faces intense competition from pure‑play fintechs, payment processors, and data providers, while its legacy print business is in structural decline. This mix creates a real but not unassailable moat: the relationships and data are valuable, but the company must execute well to keep up with faster-moving digital rivals.

Innovation and R&D

Innovation and R&D Innovation is clearly a strategic priority. Deluxe has invested in a unified payments platform, richer data products, and an “Execute with AI” program aimed at improving internal efficiency and embedding AI into customer-facing tools. The AI-driven DAX assistant and the use of life-event “trigger data” are good examples of higher‑value, differentiated offerings, especially in data-driven marketing and merchant services. The company’s “North Star” focus on payments and data suggests R&D and product development will keep tilting toward scalable, software-like businesses. The opportunity is meaningful: more recurring, higher-margin revenue and better use of its large data assets. The risk is execution—success depends on integrating acquisitions smoothly, keeping technology competitive, and proving that these innovations translate into durable growth and margin expansion.

Summary

Deluxe is a legacy company in the middle of a long-term transformation into a more modern payments and data platform business. Financially, it is profitable with stable cash generation, but revenue growth is muted, earnings are somewhat uneven, and leverage is elevated. Strategically, its strengths lie in deep customer relationships, a large transaction footprint, differentiated data assets, and a clear push into higher-value digital solutions and AI-enabled tools. The main watchpoints are the pace of growth in its newer segments, the ability to offset ongoing pressure in print, and disciplined management of its debt-heavy balance sheet. If the shift toward payments and data continues to gain traction, the business mix and financial profile could gradually improve, but the transition is still in progress and not without risk.

NEWS

November 14, 2025 · 9:00 AM UTC

Deluxe President and CEO Barry C. McCarthy Honored with Lifetime Achievement Award from Technology Association of Georgia

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November 5, 2025 · 4:15 PM UTC

Deluxe Corporation Third Quarter 2025 Financial Results Available on Company's Website

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October 22, 2025 · 5:13 PM UTC

Deluxe to Report Third Quarter 2025 Results on November 5, 2025

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October 2, 2025 · 10:00 AM UTC

Deluxe Expands Relationship with Peoples Bank Through Integrated Payments and Treasury Partnership

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