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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% | - |
| 2024 | $1.8B | $129M | $-7M | $33M | -1.1% | 14.9% | - |
| 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 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total 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 | 613.77 | 662.04 |
| Operating Expense | 349.11 | 508.88 | 557.82 | 583.77 |
| Operating Income | 41.79 | 42.99 | 55.95 | 78.26 |
| EBITDA | 82.42 | 104.36 | 128.99 | 155.64 |
| EBIT | 37.24 | 40.77 | 54.61 | 74.76 |
| Pretax Income | 12.94 | -2.01 | -0.54 | 19.41 |
| Tax Provision | 5.53 | 6.96 | 6.80 | 11.07 |
| Net Income | 7.41 | -8.97 | -7.33 | 8.35 |
| Net Income Common Stockholders | 7.41 | -8.97 | -7.33 | 8.35 |
| Total Expenses | 1,109.64 | 1,527.41 | 1,748.15 | 1,901.76 |
| Interest Expense | 24.30 | 42.77 | 55.15 | 55.35 |
| Selling General And Administration | 349.11 | 508.88 | 557.82 | 583.77 |
| Normalized EBITDA | 86.30 | 103.60 | 129.97 | 156.64 |
| Normalized Income | 10.47 | -9.57 | -6.55 | 9.13 |
| Basic EPS | 0.21 | -0.20 | -0.16 | 0 |
| Diluted EPS | 0.21 | -0.20 | -0.16 | 0 |
| Tax Effect Of Unusual Items | -0.81 | 0.16 | -0.21 | -0.21 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | -3.88 | 0.76 | -0.99 | -1 |
| Total Unusual Items Excluding Goodwill | -3.88 | 0.76 | -0.99 | -1 |
| Net Income From Continuing Operation Net Minority Interest | 7.41 | -8.97 | -7.33 | 8.35 |
| 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 |
| Net Interest Income | -24.30 | -42.77 | -55.15 | -55.35 |
| Net Income From Continuing And Discontinued Operation | 7.41 | -8.97 | -7.33 | 8.35 |
| Total Operating Income As Reported | 41.79 | 42.99 | 55.95 | 78.26 |
| Diluted Average Shares | 35.48 | 44.87 | 46.81 | 0 |
| Basic Average Shares | 34.65 | 44.87 | 46.81 | 0 |
| Diluted NI Availto Com Stockholders | 7.41 | -8.97 | -7.33 | 8.35 |
| Net Income Including Noncontrolling Interests | 7.41 | -8.97 | -7.33 | 8.35 |
| Net Income Continuous Operations | 7.41 | -8.97 | -7.33 | 8.35 |
| Other Income Expense | -4.55 | -2.22 | -1.35 | -3.50 |
| Other Non Operating Income Expenses | -0.67 | -2.98 | -0.36 | -2.50 |
| Special Income Charges | -3.88 | 0.76 | -0.99 | -1 |
| Other Special Charges | 3.40 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0.48 | -0.76 | 0.99 | 1 |
| Net Non Operating Interest Income Expense | -24.30 | -42.77 | -55.15 | -55.35 |
| Interest Expense Non Operating | 24.30 | 42.77 | 55.15 | 55.35 |
| Selling And Marketing Expense | 0 | 0 | 0 | 0 |
| General And Administrative Expense | 0 | 0 | 0 | 0 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Operating Revenue | 1,151.42 | 1,570.40 | 1,804.10 | 1,980.02 |
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 | $1.2B | 149.72↑ premium | 1.92 | 1.3% | 12.46 |
| TETRA Technologies, Inc. | TTI | $1.3B | 323.33 | 4.58 | 1.1% | 15.08 |
| Eastman Kodak Company | KODK | $1.3B | - | 2.13 | -18.0% | 6.74 |
| Evolv Technologies Holdings, Inc. | EVLV | $1.3B | - | 10.32 | -27.7% | -140.63 |
| PROG Holdings, Inc. | PRG |
| $1.3B |
| 8.58 |
| 1.69 |
| 19.7% |
| 0.85 |
| Global Industrial Company | GIC | $1.2B | 17.62 | 3.97 | 23.0% | 12.16 |
| ICF International, Inc. | ICFI | $1.2B | 13.85 | 1.22 | 8.9% | 8.94 |
| Marten Transport, Ltd. | MRTN | $1.2B | 69.22 | 1.57 | 2.3% | 10.02 |
| Lindsay Corporation | LNN | $1.2B | 15.37 | 2.14 | 13.9% | 8.73 |
| Peer Median | - | 16.49 | 2.13 | 5.6% | 8.84 | |