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Provides checks, payment processing and business services (forms, marketing, data solutions) to financial institutions and small businesses.
Provides checks, payment processing and business services (forms, marketing, data solutions) to financial institutions and small businesses.
Check printing, sold mostly to banks that resell checks to their customers plus direct to small businesses, still produces the steadiest cash but shrinks as payment habits shift. Since buying First American Payment Systems in 2018, it has been shifting toward processing card and business payments for merchants.
Moat: narrow (installed base, distribution, switching costs). Long-standing bank relationships and check-printing infrastructure, though checks are a structurally declining product.
Headquarters: Shoreview, Minnesota, US · Founded: 1915 · Employees: 4,571
Size Deluxe (DLX) is a United States Industrials company (Commercial Printing/Forms) with a market value of $1.22B, the 2132nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $26.56 on 6 Nov 2026.
Performance Over six months the shares fell 0.1%, against -14.5% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 0.3% over the last twelve months (peer median +2.3%); the operating margin is 12.6% (peer median 6.2%).
Valuation It trades at 6.6× forward earnings against a peer median of 16.0× (2nd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points above its cost of capital (8.0% WACC).
Credit Deluxe has 1 bond outstanding ($475M), rated B- by the agencies and trading like B- at a weighted spread of 359 bp.
Short interest Short interest is 8.7% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.11B | $2.13B | $2.12B | $2.19B | $2.24B |
| Revenue growth | — | +1% | -3% | -2% | — |
| Gross profit | $1.11B | $1.13B | $1.13B | $1.17B | $1.21B |
| EBITDA | $407M | $396M | $385M | $389M | $386M |
| Net income | $101M | $82.1M | $52.8M | $26.1M | $65.3M |
| Free cash flow | $209M | $175M | $99.9M | $97.6M | $86.9M |
| Capital expenditure | $130M | $131M | $94.4M | $101M | $109M |
| Total debt | $1.47B | $1.51B | $1.59B | $1.67B | $1.71B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Deluxe DLX | $1.22B | 0% | 0% | 13% | 6.6× | 2.1% |
| Fiserv FISV | $33.4B | +13% | -2% | 19% | 8.2× | n/a |
| Global Payments GPN | $25.8B | +41% | +7% | 21% | 6.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DLX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.2% | -6.1% | 2nd highest of 21 |
| 6-month return | -0.1% | -14.5% | 6th highest of 20 |
| Distance from 52-week high | -17.2% | -37.9% | 5th highest of 21 |
| Revenue growth (TTM) | +0.3% | +2.3% | 9th lowest of 20 |
| Operating margin | 12.6% | 6.2% | 3rd highest of 20 |
| Forward P/E | 6.6× | 16.0× | 2nd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 2.1% | 5.4% | 7th least demanding of 14 |
| Growth delivered (Del g) | +3.6% | +7.7% | 6th lowest of 14 |
| Hurdle (Req g minus delivered) | -1.5 pp | -3.2 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | +1.6 pp | +3.5 pp | 9th lowest of 19 |
| EV / EBITDA | 8.0× | 9.4× | 5th cheapest of 11 |
| Net debt / EBITDA | 3.5× | 1.3× | 3rd most indebted of 12 |
| Bond spread | 359 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Deluxe DLX | United States | $1.22B | 0% | 0% | 13% | 6.6× | 2.1% | +3.6% |
| Cimpress CMPR | United States | $1.39B | -38% | +10% | 6% | 12.4× | 5.4% | +7.7% |
| 4imprint FOUR.L | United Kingdom | $1.65B | +23% | -4% | 10% | 16.7× | 10.2% | +18.5% |
| Manipal Payment and Identity Solutions MPIMANIPAL.NS | India | $768M | n/a | n/a | n/a | n/a | n/a | n/a |
| Bestsun Energy 600681.SS | China | $696M | -15% | -7% | 10% | n/a | -8.3% | +3.9% |
| Hongbo 002229.SZ | China | $677M | -44% | -59% | -47% | n/a | n/a | n/a |
| Shenzhen Jinjia 002191.SZ | China | $674M | -16% | +32% | -16% | 33.1× | n/a | n/a |
| Beijing Shengtong Printing 002599.SZ | China | $552M | -17% | -4% | 0% | 40.8× | 28.4% | 0.0% |
| Tungkong 002117.SZ | China | $543M | -32% | -12% | 12% | 22.3× | 5.7% | +0.3% |
| Ennis EBF | United States | $528M | +1% | +2% | 14% | 13.3× | -12.4% | +1.9% |
| COL Global 300364.SZ | China | $2.86B | -9% | +9% | -16% | 1,310.0× | n/a | n/a |
| Yongji Printing 603058.SS | China | $492M | -28% | -15% | 8% | n/a | 25.0% | +15.1% |
| KOSAIDO 7868.T | Japan | $434M | -24% | -5% | 18% | 15.2× | -13.5% | +2.8% |
| TCPL Packaging TCPLPACK.NS | India | $427M | +58% | +5% | 12% | 28.0× | 22.0% | +15.0% |
| Shaanxi Jinye Science Technology and Education 000812.SZ | China | $406M | -13% | +1% | -8% | n/a | n/a | n/a |
| Quad/Graphics QUAD | United States | $388M | +2% | -5% | 5% | 5.8× | -7.0% | -3.8% |
| Tianjin Binhai Energy & Development 000695.SZ | China | $386M | -28% | +57% | -8% | n/a | n/a | n/a |
| Wirtualna Polska WPL.WA | Poland | $364M | -6% | +39% | 11% | 11.4× | -5.0% | +28.5% |
| Avex 7860.T | Japan | $353M | +3% | +7% | 3% | 13.2× | -12.9% | +12.4% |
| Guangdong New Grand Long Packing 002836.SZ | China | $348M | -25% | +6% | 8% | n/a | 19.1% | +15.4% |
| Silkroad Vision Technology 300556.SZ | China | $328M | -9% | +52% | -2% | n/a | n/a | n/a |
Deluxe has 1 bond outstanding with $475M face value. The agencies rate it B-; its bonds trade like B-. Weighted yield 8.20%, a spread of 359 bp over government bonds.