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Distribution Solutions Group, Inc., a specialty distribution company, provides value-added distribution solutions to the maintenance, repair and operations (MRO), original equipment manufacturer, and industrial technology markets. It operates through four segments: Lawson, TestEquity, Gexpro Services, and Canada Branch Division. The Lawson segment distributes specialty products and services to the industrial, commercial, institutional, and government MRO marketplace. The TestEquity segment distributes test and measurement equipment and solutions, industrial and electronic production supplies, and vendor managed inventory programs, as well as converting, fabrication, and adhesive solutions to the aerospace and defense, wireless and communication, semiconductors, industrial electronics and automotive, and electronics manufacturing industries under the TestEquity, Hisco, Techni-Pro, Techni-Tool, and Jensen Tools brands. The Gexpro Services segment provides supply chain management solutions that offer VMI, kitting, global logistics management, manufacturing localization and import expertise, value engineering and quality assurance to renewables, industrial power, consumer and industrial, technology, transportation, and aerospace and defense. The Canada Branch Division distributes industrial MRO supplies, safety products, fasteners, power tools, and related value-add services to the industrial, government, commercial, and residential contractor markets for the Canadian MRO market. The company distributes MRO products to its customers through a network of sales representatives. It has operations in the United States, Canada, Europe, Pacific Rim, Latin America, and internationally. The company was formerly known as Lawson Products, Inc. and has changed to Distribution Solutions Group, Inc. 2022. Distribution Solutions Group, Inc. was incorporated in 1952 and is headquartered in Fort Worth, Texas.
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 | $2.0B | $156M | $8M | $43M | 1.3% | 9.8% | -213.8% |
| 2024 | $1.8B | $129M | $-7M | $33M | -1.1% | 14.9% | -18.2% |
| 2023 | $1.6B | $104M | $-9M | $78M | -1.4% | 36.4% | -221.1% |
| 2022 | $1.2B | $82M | $7M | $-31M | 1.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,151.42 | 1,570.40 | 1,804.10 | 1,980.02 |
| Operating Revenue | - | 1,151.42 | 1,570.40 | 1,804.10 | 1,980.02 |
| Cost Of Revenue | - | 760.52 | 1,018.53 | 1,190.33 | 1,317.98 |
| Gross Profit | - | 390.90 | 551.88 | 613.78 | 662.04 |
| Operating Expense | - | 349.11 | 508.88 | 557.82 | 583.78 |
| Selling General And Administration | - | 349.11 | 508.88 | 557.82 | 583.78 |
| Total Expenses | - | 1,109.64 | 1,527.41 | 1,748.15 | 1,901.76 |
| Operating Income | - | 41.79 | 42.99 | 55.96 | 78.26 |
| Total Operating Income As Reported | - | 41.79 | 42.99 | 55.96 | 78.26 |
| EBITDA | - | 82.42 | 104.36 | 128.99 | 155.64 |
| Normalized EBITDA | - | 86.30 | 103.60 | 129.97 | 156.64 |
| EBIT | - | 37.24 | 40.77 | 54.61 | 74.76 |
| Interest Expense | - | 24.30 | 42.77 | 55.14 | 55.35 |
| Net Interest Income | - | -24.30 | -42.77 | -55.14 | -55.35 |
| Other Non Operating Income Expenses | - | -0.67 | -2.98 | -0.36 | -2.50 |
| Other Income Expense | - | -4.55 | -2.22 | -1.35 | -3.50 |
| Interest Expense Non Operating | - | 24.30 | 42.77 | 55.14 | 55.35 |
| Net Non Operating Interest Income Expense | - | -24.30 | -42.77 | -55.14 | -55.35 |
| Pretax Income | - | 12.94 | -2.01 | -0.54 | 19.41 |
| Tax Provision | - | 5.53 | 6.96 | 6.80 | 11.07 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.81 | 0.16 | -0.21 | -0.21 |
| Net Income Continuous Operations | - | 7.41 | -8.97 | -7.33 | 8.35 |
| Net Income From Continuing And Discontinued Operation | - | 7.41 | -8.97 | -7.33 | 8.35 |
| Net Income From Continuing Operation Net Minority Interest | - | 7.41 | -8.97 | -7.33 | 8.35 |
| Net Income | - | 7.41 | -8.97 | -7.33 | 8.35 |
| Net Income Common Stockholders | - | 7.41 | -8.97 | -7.33 | 8.35 |
| Net Income Including Noncontrolling Interests | - | 7.41 | -8.97 | -7.33 | 8.35 |
| Normalized Income | - | 10.47 | -9.57 | -6.55 | 9.14 |
| Diluted NI Availto Com Stockholders | - | 7.41 | -8.97 | -7.33 | 8.35 |
| Basic Average Shares | - | 34.65 | 44.87 | 46.81 | 46.36 |
| Diluted Average Shares | - | 35.48 | 44.87 | 46.81 | 47.17 |
| Reconciled Depreciation | - | 45.19 | 63.59 | 74.38 | 80.88 |
| Reconciled Cost Of Revenue | - | 760.52 | 1,018.53 | 1,190.33 | 1,317.98 |
| Total Unusual Items | - | -3.88 | 0.76 | -0.99 | -1 |
| Total Unusual Items Excluding Goodwill | - | -3.88 | 0.76 | -0.99 | -1 |
| Special Income Charges | - | -3.88 | 0.76 | -0.99 | -1 |
| Other Special Charges | - | 3.40 | - | - | - |
| Restructuring And Mergern Acquisition | - | 0.48 | -0.76 | 0.99 | 1 |
| General And Administrative Expense | 110.60 | - | - | - | - |
| Other Gand A | 110.60 | - | - | - | - |
| Selling And Marketing Expense | 96.64 | - | - | - | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Distribution Solutions Group, Inc.this co. | DSGR | $1.3B | 153.06↑ premium | 1.97 | 1.3% | 13.07 |
| Frontier Group Holdings, Inc. | ULCC | $1.3B | -9.81 | 2.74 | -27.9% | -191.76 |
| Cadre Holdings, Inc. | CDRE | $1.3B | 29.32 | 4.07 | 13.9% | 16.04 |
| Energizer Holdings, Inc. | ENR | $1.3B | 5.41 | 7.61 | 140.7% | 8.12 |
| Napco Security Technologies, Inc. |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| NSSC |
| $1.3B |
| 29.44 |
| 7.58 |
| 25.7% |
| 24.73 |
| Insperity, Inc. | NSP | $1.3B | -182.50 | 27.77 | -15.2% | 16.47 |
| ICF International, Inc. | ICFI | $1.2B | 13.60 | 1.21 | 8.9% | 9.01 |
| Heartland Express, Inc. | HTLD | $1.2B | - | 1.62 | -6.9% | 13.29 |
| Satellogic Inc. | SATL | $1.2B | -252.29 | 19.94 | -7.9% | 322.72 |
| Peer Median | - | 5.41 | 5.83 | 1.0% | 14.67 | |