Deluxe Corp. (DLX)
NYSE:DLX
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Deluxe
(NYSE:DLX)
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Rating:62Neutral
Price Target:
$24.50
▲(4.03% Upside)
Action:Reiterated
Date:05/14/26
DLX scores as moderately attractive: improving profitability and free cash flow (with leverage trending better and supported by positive guidance) are the main positives, while weak technical momentum and ongoing top-line/Print headwinds temper the outlook despite a low P/E and high dividend yield.
Positive Factors
Payments & Data now majority of revenue
A structural shift to Payments and Data (51% of revenue) raises recurring, higher-margin revenue exposure versus legacy print. This diversifies the revenue base, supports more predictable cash flows, and increases cross-sell upside, improving long-term revenue quality and resilience.
Negative Factors
Ongoing decline in Print revenue
Persistent secular decline in print/checks is a structural headwind: even with margin discipline, shrinking volumes erode absolute earnings and constrain overall growth potential. Given Print's still-significant scale, continued declines will pressure consolidated revenue and limit long-term topline expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Payments & Data now majority of revenue
A structural shift to Payments and Data (51% of revenue) raises recurring, higher-margin revenue exposure versus legacy print. This diversifies the revenue base, supports more predictable cash flows, and increases cross-sell upside, improving long-term revenue quality and resilience.
Read all positive factors
Deluxe Key Performance Indicators (KPIs)
Any
Adjusted EBITDA by Segment
Shows each business unit’s operating profitability after removing one-time items, highlighting which lines actually generate cash and margins. For Deluxe, the split reveals whether higher-margin, recurring businesses (like digital services and payments) are driving profits versus lower-margin legacy print and check products. Tracking segment EBITDA trends helps you judge if growth is profitable, how well the company covers debt and reinvestment needs, and where execution or margin risk is concentrated.
Shows each business unit’s operating profitability after removing one-time items, highlighting which lines actually generate cash and margins. For Deluxe, the split reveals whether higher-margin, recurring businesses (like digital services and payments) are driving profits versus lower-margin legacy print and check products. Tracking segment EBITDA trends helps you judge if growth is profitable, how well the company covers debt and reinvestment needs, and where execution or margin risk is concentrated.
Data provided by:
The Fly
The FlyDeluxe (DLX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.08B
Dividend Yield5.41%
Average Volume (3M)478.12K
Price to Earnings (P/E)8.9
Beta (1Y)1.17
Revenue Growth0.55%
EPS Growth82.53%
CountryUS
Employees4,981
SectorIndustrials
Sector Strength72
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)2.35
Shares Outstanding45,784,060
10 Day Avg. Volume642,076
30 Day Avg. Volume478,124
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)1.49
Price to Sales (P/S)0.48
P/FCF Ratio5.80
Enterprise Value/Market Cap2.30
Enterprise Value/Revenue1.17
Enterprise Value/Gross Profit2.21
Enterprise Value/Ebitda6.06
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.87
Revenue Forecast (FY)$2.06B
Deluxe Business Overview & Revenue Model
Company Description
Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, Australia, South America, and Europe. It operates through four segments: Payments, Cloud Solutions,...
How the Company Makes Money
Deluxe makes money by selling a portfolio of services and products that support how businesses get paid, pay others, and acquire customers. A significant portion of revenue is generated from payments-related activities, where Deluxe earns fees tie...
Deluxe Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized multiple notable operational and financial wins: strong adjusted EBITDA and EPS expansion, robust growth in Data and Merchant Services, disciplined SG&A reductions, meaningful free cash flow generation, strategic partnerships, AI-driven efficiency gains and reaching the 3x net leverage target ahead of schedule. These strengths offset continuing declines in the Print segment (revenue down ~5.9%) and modest overall revenue growth (0.3% reported, 2.7% comparable). Management maintained full-year free cash flow guidance and provided updated ranges that reflect the Safeguard divestiture while forecasting moderate top-line growth. On balance, the company presented a clear transformation story with expanding profitability and balance sheet progress despite legacy print headwinds and moderation risk in data growth.Positive Updates
Strong Adjusted EBITDA and Margin Expansion
Adjusted EBITDA of $117.9M, up 19.7% on a comparable adjusted basis; adjusted EBITDA margin expanded to 21.9%, up 310 basis points year-over-year.
Negative Updates
Print Revenue Decline
Print segment revenue of $262.2M declined 5.9% year-over-year on a comparable adjusted basis (legacy Check revenues down 4.4%; the rest of the print segment down 8.4%), driving continued headwinds in the legacy print business.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Adjusted EBITDA and Margin Expansion
Adjusted EBITDA of $117.9M, up 19.7% on a comparable adjusted basis; adjusted EBITDA margin expanded to 21.9%, up 310 basis points year-over-year.
Read all positive updates
Company Guidance
Management updated full‑year 2026 guidance to revenue of $1.985B–$2.05B (≈ −1% to +2% comparable adjusted growth), adjusted EBITDA of $430M–$455M (≈ +4% to +10% comparable adjusted growth), adjusted EPS of $3.60–$4.00 (≈ +9% to +21% comparable adjusted growth) and unchanged free cash flow of ~ $200M (≈ +14% vs. 2025), with the ranges revised to reflect the March 1 Safeguard divestiture; guidance assumptions include interest expense of ≈ $110M, an adjusted tax rate of 26%, depreciation & amortization of ≈ $135M (including ~$40M of acquisition amortization), an average share count of ≈ 46.5M, and capital expenditures of $90M–$100M, and remains subject to prevailing macroeconomic conditions.Deluxe Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
56
Neutral
Cash Flow
73
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.13B | 2.13B | 2.12B | 2.19B | 2.24B | 2.02B |
| Gross Profit | 1.13B | 1.13B | 1.13B | 1.16B | 1.21B | 1.14B |
| EBITDA | 411.76M | 396.50M | 365.32M | 335.14M | 351.38M | 298.12M |
| Net Income | 103.91M | 82.10M | 52.80M | 26.12M | 65.39M | 62.63M |
Balance Sheet | ||||||
| Total Assets | 2.56B | 2.86B | 2.83B | 3.08B | 3.08B | 3.07B |
| Cash, Cash Equivalents and Short-Term Investments | 27.20M | 310.50M | 34.40M | 71.96M | 40.44M | 41.23M |
| Total Debt | 1.44B | 1.55B | 1.56B | 1.67B | 1.71B | 1.75B |
| Total Liabilities | 1.86B | 2.18B | 2.21B | 2.48B | 2.47B | 2.50B |
| Stockholders Equity | 696.80M | 683.80M | 620.75M | 604.09M | 603.81M | 574.32M |
Cash Flow | ||||||
| Free Cash Flow | 178.29M | 175.30M | 99.89M | 97.62M | 86.90M | 101.68M |
| Operating Cash Flow | 273.03M | 270.60M | 194.28M | 198.37M | 191.50M | 210.82M |
| Investing Cash Flow | -96.03M | -131.70M | -69.84M | -43.30M | -80.30M | -1.07B |
| Financing Cash Flow | -182.34M | -136.80M | -267.25M | -37.68M | -48.60M | 912.96M |
Deluxe Technical Analysis
Negative
23.55
Price Trends
27.63
Negative
26.60
Negative
22.95
Positive
Market Momentum
-1.53
Positive
32.11
Neutral
26.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DLX, the sentiment is Negative. The current price of 23.55 is below the 20-day moving average (MA) of 27.03, below the 50-day MA of 27.63, and above the 200-day MA of 22.95, indicating a neutral trend. The MACD of -1.53 indicates Positive momentum. The RSI at 32.11 is Neutral, neither overbought nor oversold. The STOCH value of 26.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DLX.
Deluxe Risk Analysis
Deluxe disclosed 23 risk factors in its most recent earnings report. Deluxe reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Deluxe Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $688.77M | 23.32 | 23.85% | ― | 14.75% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $1.08B | 8.90 | 15.49% | 5.41% | 0.55% | 82.53% | |
62 Neutral | $985.59M | 30.98 | -10.81% | 1.29% | 14.04% | -1310.49% | |
62 Neutral | $477.17M | -0.96 | -40.17% | ― | 1.81% | 42.29% | |
59 Neutral | $863.69M | 28.87 | 10.17% | ― | -0.43% | -15.84% | |
55 Neutral | $1.54B | -30.40 | 2.52% | ― | 4.48% | 868.83% |
* Industrials Sector Average
DLX
Deluxe
23.73
10.65
81.35%
STGW
Stagwell
6.51
1.80
38.22%
QNST
Quinstreet
12.29
-2.63
-17.63%
CRTO
Criteo SA
17.29
-9.00
-34.23%
EEX
Emerald Expositions Events
4.98
0.56
12.64%
ADV
Advantage Solutions
42.31
14.31
51.11%
Deluxe Corporate Events
Executive/Board ChangesShareholder Meetings
Deluxe Shareholders Back Board, Pay and Incentive Plan
Positive
Apr 24, 2026
At its annual shareholders’ meeting held on April 23, 2026, Deluxe reported that 37.76 million shares, or 82.6% of shares outstanding and entitled to vote, were represented, and shareholders elected nine directors to serve until the 2027 ann...
Executive/Board Changes
Deluxe Announces Upcoming Board Change as Director Departs
Neutral
Mar 9, 2026
Deluxe Corporation has announced a forthcoming change in its board composition, as director Cheryl E. Mayberry McKissack informed the Board on March 4, 2026, that she will not stand for re-election at the company’s 2026 Annual Meeting of Sha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.