TakeoverPE & activists

DLXDELUXE CORP

Blankbooks, Looseleaf Binders & Bookbindg & Relatd Work · $1.0B market cap · 4,571 employees

4.4×

More likely than average to be taken private

Top 1% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

2of 15 firedHow well they predict deals →
13 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    330% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    1% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    20% of cash flow
    Buybacks + dividends over cash flow
  • Shareholder dissentNo
    89% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $467K · 89th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    5.0 per 10K words · 83rd pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    3.6× EBITDA net debt
    More cash than debt, positive EBITDA
  • Recurring revenueNo
    6 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    2 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months
  • Net insider sellingNo
    $4K net
    Net sales over $10M in 12 months

Key numbers

Revenue
$2.1BFY2021: $2.0BFY2022: $2.2BFY2023: $2.2BFY2024: $2.1BFY2025: $2.1B
0.5% YoY
Operating margin
10.9%FY2021: 7.0%FY2022: 7.6%FY2023: 7.3%FY2024: 9.1%FY2025: 10.9%
20% YoY
EBITDA
$370MFY2021: $291MFY2022: $342MFY2023: $331MFY2024: $358MFY2025: $370M
3.5% YoY
Net debt / EBITDA
3.6×
$1.3B net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$2.0B$2.2B$2.2B$2.1B$2.1B 0.5% FY2021: $2.0BFY2022: $2.2BFY2023: $2.2BFY2024: $2.1BFY2025: $2.1B
Operating income$142M$169M$161M$192M$232M 21% FY2021: $142MFY2022: $169MFY2023: $161MFY2024: $192MFY2025: $232M
Net income$63M$65M$26M$53M$82M 55% FY2021: $63MFY2022: $65MFY2023: $26MFY2024: $53MFY2025: $82M
Operating cash flow$211M$192M$198M$194M$271M 39% FY2021: $211MFY2022: $192MFY2023: $198MFY2024: $194MFY2025: $271M
Capex——$101M$94M$95M 1.1% FY2023: $101MFY2024: $94MFY2025: $95M
Stock-based comp$29M$24M$21M$20M$25M 25% FY2021: $29MFY2022: $24MFY2023: $21MFY2024: $20MFY2025: $25M
Buybacks$0$0———FY2021: $0FY2022: $0
Dividends$52M$53M$53M$54M$55M 1.8% FY2021: $52MFY2022: $53MFY2023: $53MFY2024: $54MFY2025: $55M

13D filers

None on file.

Insider trading

+$4Knet buying by insiders, open market, last 12 months
Bought $4K · 1 tradeSold $0 · 0 trades

Pay vs performance

No pay-versus-performance disclosure yet.