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Holding company of specialty industrial distributors — Lawson Products (fasteners/MRO), TestEquity (test tools) and Gexpro Services (supply-chain parts).
Holding company of specialty industrial distributors — Lawson Products (fasteners/MRO), TestEquity (test tools) and Gexpro Services (supply-chain parts).
Formed in 2022 when Lawson Products combined with TestEquity and Gexpro Services, both owned by Luther King Capital Management, which remains its largest shareholder. Revenue comes from supplying many small parts and tools to customers, much of it by placing stock at the customer's site and replenishing it, creating repeat orders.
Moat: narrow (switching costs, distribution). Vendor-managed-inventory programs create switching costs, but the space is fragmented and competitive.
Headquarters: Chicago, Illinois · Founded: 2023 · Employees: 4,300
Size Distribution Solutions (DSGR) is a United States Industrials company (Wholesale Distributors) with a market value of $1.62B, the 1937th largest of 3,117 United States companies the cockpit tracks. Shares closed at $34.93 on 6 Nov 2026.
Performance Over six months the shares gained 27.5%, against -3.0% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 20 in its peer set.
Growth Revenue grew 6.5% over the last twelve months (peer median +3.5%); the operating margin is 4.2% (peer median 7.8%).
Valuation It trades at 40.9× forward earnings against a peer median of 16.2× (2nd most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +41%, so the hurdle is -26 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.0 points below its cost of capital (6.8% WACC).
Short interest Short interest is 1.1% of the free float (15 Oct 2026).
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.05B | $1.98B | $1.80B | $1.57B | $1.15B |
| Revenue growth | — | +10% | +15% | +36% | — |
| Gross profit | $615M | $616M | $566M | $512M | $362M |
| EBITDA | $167M | $169M | $170M | $149M | $111M |
| Net income | $8.96M | $8.35M | -$7.33M | -$8.97M | $7.41M |
| Free cash flow | $13.3M | $43.4M | $17.4M | $77.6M | -$31.1M |
| Capital expenditure | $43.7M | $40.5M | $39.0M | $24.7M | $20.1M |
| Total debt | $845M | $819M | $831M | $649M | $462M |
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 |
|---|---|---|---|---|---|---|
| Distribution Solutions DSGR | $1.62B | +27% | +6% | 4% | 40.9× | 15.5% |
| Fastenal FAST | $60.8B | +20% | +14% | 21% | 38.3× | 14.2% |
| MSC Industrial Direct MSM | $6.33B | +9% | +6% | 9% | 20.1× | 9.0% |
| W. W. Grainger GWW | $67.9B | +17% | +9% | 17% | 28.2× | 11.9% |
| Applied Industrial Technologies AIT | $10.3B | -8% | +8% | 11% | 23.0× | 8.6% |
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 | DSGR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.4% | +0.4% | 9th lowest of 21 |
| 6-month return | +27.5% | -3.0% | 4th highest of 20 |
| Distance from 52-week high | -1.0% | -27.2% | highest of 21 |
| Revenue growth (TTM) | +6.5% | +3.5% | 10th highest of 21 |
| Operating margin | 4.2% | 7.8% | 6th lowest of 19 |
| Forward P/E | 40.9× | 16.2× | 2nd most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 15.5% | 3.4% | 4th most demanding of 17 |
| Growth delivered (Del g) | +41.3% | +8.0% | 2nd highest of 17 |
| Hurdle (Req g minus delivered) | -25.8 pp | -6.4 pp | 4th least demanding of 17 |
| ROIC minus cost of capital | -2.0 pp | +1.0 pp | 7th lowest of 18 |
| EV / EBITDA | 14.3× | 10.1× | 4th most expensive of 11 |
| Net debt / EBITDA | 4.6× | 1.1× | 3rd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Distribution Solutions DSGR | United States | $1.62B | +27% | +6% | 4% | 40.9× | 15.5% | +41.3% |
| Hillman Solutions HLMN | United States | $1.62B | +6% | +6% | 6% | 13.3× | 17.9% | +2.6% |
| Xinjiang Zhongtai Chemical 002092.SZ | China | $1.57B | -41% | +7% | 3% | 25.4× | -4.2% | -19.5% |
| Norinco International Cooperation 000065.SZ | China | $1.72B | -23% | -21% | 9% | 13.5× | -5.1% | +1.1% |
| Anhui Xinhua Media 601801.SS | China | $1.72B | -3% | -16% | 4% | 13.6× | n/a | n/a |
| Electrolux Professional EPRO-B.ST | Sweden | $1.52B | +20% | -4% | 10% | 16.2× | 4.9% | +10.9% |
| ZheJiang Dong Ri 600113.SS | China | $1.48B | -46% | -1% | 16% | n/a | 38.5% | +7.6% |
| Arteche Lantegi Elkartea ART.MC | Spain | $1.77B | -36% | +11% | 14% | 25.2× | 7.2% | +13.9% |
| AGTech 8279.HK | Hong Kong | $1.78B | +109% | +24% | 8% | n/a | -14.9% | +36.3% |
| Mitani 8066.T | Japan | $1.45B | +4% | +1% | 10% | n/a | -12.2% | -3.1% |
| Happinet 7552.T | Japan | $1.82B | +133% | +19% | 3% | 16.2× | -4.1% | +11.1% |
| Inaba Denkisangyo 9934.T | Japan | $1.82B | -4% | +15% | 8% | n/a | -11.9% | +8.5% |
| Tibet Huayu Mining 601020.SS | China | $1.83B | -48% | -22% | 23% | n/a | n/a | n/a |
| Pengxin International Mining 600490.SS | China | $1.85B | -32% | -20% | n/a | n/a | 6.6% | -17.2% |
| Jiangxi Tungsten Rare and Precious Equipment 600397.SS | China | $1.86B | -13% | -92% | n/a | 156.9× | n/a | n/a |
| Travis Perkins TPK.L | United Kingdom | $1.86B | +28% | 0% | 3% | 23.2× | 8.5% | +4.3% |
| Minmetals Development 600058.SS | China | $1.40B | -22% | -16% | 1% | n/a | 20.4% | -4.7% |
| ADI Global Distribution ADIG | United States | $1.39B | n/a | +14% | 4% | 11.9× | n/a | n/a |
| Hour Glass AGS.SI | Singapore | $1.38B | +10% | +18% | 15% | 10.4× | -8.7% | +12.5% |
| ARE 5857.T | Japan | $1.89B | +1% | +38% | 7% | 9.3× | 2.0% | +29.4% |
| Dalrymple Bay Infrastructure DBI.AX | Australia | $1.92B | +6% | +11% | 29% | 26.2× | 7.8% | +104.8% |