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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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What the company returns to shareholders — and whether it's covered by cash.
Free-cash-flow coverage unavailable. Last year: $1.73B dividends + $0 buybacks = $1.73B returned on -$769.0M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Modest payoff on reinvested capital. Current ROIC on all capital: 6%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.11B 100.0% | $5.55B 100.0% | $5.48B 100.0% | $4.69B 100.0% | $4.43B 100.0% | $3.90B 100.0% | $3.21B 100.0% | $3.05B 100.0% | $2.46B 100.0% | $2.14B 100.0% |
| Selling, General & Admin | $565.5M 9.3% | $480.0M 8.6% | $449.1M 8.2% | $422.2M 9.0% | $400.7M 9.0% | $351.4M 9.0% | $211.1M 6.6% | $163.7M 5.4% | $161.4M 6.6% | $152.7M 7.1% |
| Total Operating Expenses | $5.45B 89.2% | $5.08B 91.5% | $4.95B 90.4% | $4.10B 87.4% | $3.73B 84.3% | $3.35B 85.7% | $2.62B 81.5% | $2.50B 82.0% | $2.01B 81.6% | $1.64B 76.8% |
| Operating Income | $658.5M 10.8% | $471.9M 8.5% | $524.5M 9.6% | $590.0M 12.6% | $694.0M 15.7% | $557.5M 14.3% | $594.2M 18.5% | $549.8M 18.0% | $451.3M 18.4% | $497.3M 23.2% |
| Interest Expense | $437.9M 7.2% | $452.8M 8.2% | $437.7M 8.0% | $299.1M 6.4% | $293.8M 6.6% | $333.0M 8.5% | $353.1M 11.0% | $321.5M 10.6% | $258.6M 10.5% | $236.5M 11.0% |
| Other Income (Expense), net | $161.1M 2.6% | $154.2M 2.8% | $68.4M 1.2% | $8.9M 0.2% | -$4.4M -0.1% | $20.2M 0.5% | $66.0M 2.1% | $3.5M 0.1% | $3.7M 0.1% | -$4.6M -0.2% |
| Pretax Income | $1.35B 22.0% | — | — | — | — | — | — | — | — | — |
| Income Tax Expense | $32.0M 0.5% | $54.8M 1.0% | $75.6M 1.4% | $31.6M 0.7% | $72.8M 1.6% | $38.0M 1.0% | $12.0M 0.4% | $2.1M 0.1% | $7.9M 0.3% | $10.4M 0.5% |
| Net Income | $1.31B 21.5% | $588.3M 10.6% | $950.3M 17.4% | $380.3M 8.1% | $1.75B 39.5% | $356.4M 9.1% | $579.8M 18.1% | $331.2M 10.9% | $248.3M 10.1% | $426.2M 19.9% |
| Per Share | ||||||||||
| EPS (Basic) | $3.73 | $1.74 | $3.04 | $1.18 | $5.95 | $1.01 | $2.37 | $1.21 | $0.99 | $2.21 |
| EPS (Diluted) | $3.58 | $1.61 | $2.88 | $1.11 | $5.94 | $1.00 | $2.35 | $1.21 | $0.99 | $2.20 |
| Weighted Avg Shares (Basic) | 339.8M | 323.3M | 298.6M | 286.3M | 282.5M | 260K | 208.3M | 206.0M | 174.1M | 150.0M |
| Weighted Avg Shares (Diluted) | 347.8M | 331.5M | 309.1M | 297.9M | 283.2M | 263K | 209.5M | 206.7M | 174.9M | 150.7M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow on any basis, so a reverse DCF can't be run.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.63B covers the $980.9M due within a year 1.7× over. Scheduled principal only (excludes interest & revolver draws). As of 2023-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 88th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 6% against ROIC 6% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 3.9× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 5.4 | 6.6 | 9.0 | 9.0 | 9.0 | 8.2 | 8.6 | 9.3 |
| Operating Income | 18.0 | 18.5 | 14.3 | 15.7 | 12.6 | 9.6 | 8.5 | 10.8 |
| Income Tax | 0.1 | 0.4 | 1.0 | 1.6 | 0.7 | 1.4 | 1.0 | 0.5 |
| Net Income | 10.9 | 18.1 | 9.1 | 39.5 | 8.1 | 17.4 | 10.6 | 21.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DLR: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.