Deluxe Corporation provides technology-enabled solutions to small and medium-sized businesses, and financial institutions in the United States and Canada. The company operates through four segments: Merchant Services, B2B Payments, Data Solutions, and Print. It offers credit and debit card authorization and payment systems; processing services to small and medium-sized retail and service businesses, as well as nonprofit and government organizations; treasury management solutions, including remittance and lockbox processing, remote deposit capture, cash application, and payment acceptance solutions, as well as integrated accounts payable disbursements, such as eChecks, Medical Payment Exchange, and Deluxe Payment Exchange; and fraud and security services. The company also provides data, analytics, and marketing services for both business-to-business and business-to-consumer marketing; financial institution profitability reporting and business incorporation services; printed personal and business checks, and business essentials comprising printed business forms and business accessories; and branded promotional, print, apparel, and digital storefront solutions. It sells through financial institutions, small and medium-sized enterprises from a variety of industries, large multinational corporations, and scalable partnerships. The company was formerly known as Deluxe Check Printers, Incorporated and changed its name to Deluxe Corporation in 1988. Deluxe Corporation was founded in 1915 and is headquartered in Minneapolis, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.1B | $379M | $82M | $175M | 12.1% | 0.5% | 55.5% |
| 2024 | $2.1B | $365M | $53M | $100M | 8.5% | -3.2% | 102.3% |
| 2023 | $2.2B | $335M | $26M | $98M | 4.3% | -2.0% | -60.1% |
| 2022 | $2.2B | $351M | $65M | $87M | 10.8% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,238.01 | 2,192.30 | 2,121.80 | 2,133.20 |
| Operating Revenue | - | 2,238.01 | 2,192.30 | 2,121.80 | 2,133.20 |
| Cost Of Revenue | - | 1,032.12 | 1,029.60 | 995.30 | 1,002.50 |
| Gross Profit | - | 1,205.89 | 1,162.70 | 1,126.50 | 1,130.70 |
| Operating Expense | - | 993.25 | 956.10 | 909.20 | 873.30 |
| Selling General And Administration | - | 993.25 | 956.10 | 909.20 | 873.30 |
| Total Expenses | - | 2,025.37 | 1,985.70 | 1,904.50 | 1,875.80 |
| Operating Income | - | 212.64 | 206.60 | 217.30 | 257.40 |
| Total Operating Income As Reported | - | 169.45 | 160.80 | 192.20 | 232.40 |
| EBITDA | - | 351.38 | 335.10 | 365.30 | 379 |
| Normalized EBITDA | - | 394.58 | 380.90 | 390.40 | 404 |
| EBIT | - | 178.83 | 165.40 | 199.80 | 241.10 |
| Interest Expense | - | 94.45 | 125.60 | 123.30 | 122 |
| Net Interest Income | - | -94.45 | -125.60 | -123.30 | -122 |
| Other Non Operating Income Expenses | - | 9.39 | 4.60 | 7.60 | 8.70 |
| Other Income Expense | - | -33.81 | -41.20 | -17.50 | -16.30 |
| Interest Expense Non Operating | - | 94.45 | 125.60 | 123.30 | 122 |
| Net Non Operating Interest Income Expense | - | -94.45 | -125.60 | -123.30 | -122 |
| Pretax Income | - | 84.38 | 39.80 | 76.50 | 119.10 |
| Tax Provision | - | 18.85 | 13.60 | 23.60 | 36.90 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -9.63 | -15.65 | -7.74 | -7.75 |
| Net Income Continuous Operations | - | 65.53 | 26.20 | 52.90 | 82.20 |
| Net Income From Continuing And Discontinued Operation | - | 65.40 | 26.10 | 52.80 | 82.10 |
| Net Income From Continuing Operation Net Minority Interest | - | 65.40 | 26.10 | 52.80 | 82.10 |
| Net Income | - | 65.40 | 26.10 | 52.80 | 82.10 |
| Net Income Common Stockholders | - | 65.35 | 26.10 | 52.80 | 82.10 |
| Net Income Including Noncontrolling Interests | - | 65.53 | 26.20 | 52.90 | 82.20 |
| Normalized Income | - | 98.96 | 56.25 | 70.16 | 99.35 |
| Diluted NI Availto Com Stockholders | - | 64.86 | 26.10 | 52.70 | 82 |
| Basic Average Shares | - | 43.20 | 43.74 | 44.32 | 45.01 |
| Diluted Average Shares | - | 43.30 | 43.80 | 44.70 | 45.50 |
| Reconciled Depreciation | - | 172.55 | 169.70 | 165.50 | 137.90 |
| Reconciled Cost Of Revenue | - | 1,032.12 | 1,029.60 | 995.30 | 1,002.50 |
| Total Unusual Items | - | -43.20 | -45.80 | -25.10 | -25 |
| Total Unusual Items Excluding Goodwill | - | -43.20 | -45.80 | -25.10 | -25 |
| Minority Interests | - | -0.14 | -0.10 | -0.10 | -0.10 |
| Special Income Charges | - | -43.20 | -45.80 | -25.10 | -25 |
| Gain On Sale Of Business | - | 19.33 | 32.40 | 31.20 | 0 |
| Write Off | 0 | 0 | - | - | - |
| Impairment Of Capital Assets | - | 0 | 0 | 7.70 | 5.70 |
| Restructuring And Mergern Acquisition | - | 62.53 | 78.20 | 48.60 | 19.30 |
| Otherunder Preferred Stock Dividend | 0.05 | 0.05 | 0.04 | 0.02 | - |
| Average Dilution Earnings | - | -0.48 | 0 | -0.10 | -0.10 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Deluxe Corporationthis co. | DLX | $1.0B | 12.78β premium | 1.54 | 12.1% | 6.58 |
| Gibraltar Industries, Inc. | ROCK | $1.1B | -25.59 | 1.20 | -4.7% | 7.06 |
| Eve Holding, Inc. | EVEX | $1.1B | -4.89 | 8.87 | -181.2% | -5.53 |
| Covenant Logistics Group, Inc. | CVLG | $1.1B | 150.28 | 2.69 | 1.8% | 12.88 |
| Genco Shipping & Trading Limited | GNK | $1.0B |
| - |
| - |
| - |
| - |
| - |
| -240.44 |
| 1.17 |
| -0.5% |
| 13.97 |
| Limbach Holdings, Inc. | LMB | $1.0B | 25.73 | 5.14 | 20.0% | 15.02 |
| LegalZoom.com, Inc. | LZ | $996M | 64.53 | 5.79 | 9.0% | 9.94 |
| Cardinal Infrastructure Group Inc. | CDNL | $967M | 42.62 | 16.54 | 38.8% | 13.93 |
| Resolute Holdings Management, Inc. | RHLD | $966M | -163.07 | 148.07 | -90.8% | 6.35 |
| Peer Median | - | 10.42 | 5.47 | 0.7% | 11.41 | |