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Arphra AIPlain-English read on Deluxe Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||
| Revenue | $2.02B | $2.24B | $2.19B | $2.12B | $2.13B | $2.02B | $2.04B |
| Cost of revenue | $884.27M | $1.03B | $1.03B | $995.31M | $1B | $941.87M | $967.33M |
| Gross profit | $1.14B | $1.21B | $1.16B | $1.13B | $1.13B | $1.05B | $1.09B |
| Gross margin | +56.27% | +53.88% | +53.04% | +53.09% | +53.01% | +51.68% | +53.35% |
| Operating | |||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $941.02M | $993.25M | $956.07M | $909.17M | $869.4M | $850.98M | $874.63M |
| Total operating expenses | $995.77M | $1.04B | $1B | $934.27M | $869.4M | $871.35M | $889.27M |
| Operating income | $142.15M | $169.45M | $160.79M | $192.18M | $261.5M | $195.18M | $194.68M |
| Operating margin | +7.03% | +7.57% | +7.33% | +9.06% | +12.26% | +9.65% | +9.55% |
| EBITDA | $298.12M | $351.38M | $335.15M | $365.32M | $379M | $337.74M | $346.64M |
| EBIT | $149.36M | $178.83M | $165.44M | $199.78M | $245.2M | $196.4M | $196.08M |
| Below the line | |||||||
| Interest expense | $55.55M | $94.45M | $125.64M | $123.28M | $122M | $113.81M | $116.98M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$48.35M | -$85.07M | -$120.99M | -$115.68M | -$138.3M | — | — |
| Pre-tax income | $93.8M | $84.38M | $39.8M | $76.5M | $123.2M | $74.29M | $74.15M |
| Income tax expense | $31.03M | $18.85M | $13.57M | $23.55M | $37.9M | $24.68M | $24.24M |
| Earnings | |||||||
| Net income | $62.63M | $65.4M | $26.12M | $52.8M | $85.2M | $51.85M | $52.67M |
| Net income · continuing ops | $62.77M | $65.53M | $26.23M | $52.95M | $85.3M | $52.03M | $52.79M |
| Net margin | +3.10% | +2.92% | +1.19% | +2.49% | +3.99% | +2.56% | +2.59% |
| EPS · basic | $1.48 | $1.52 | $0.60 | $1.20 | $1.87 | $3.89 | $4.20 |
| EPS · diluted | $1.45 | $1.50 | $0.59 | $1.18 | $1.80 | $3.77 | $4.11 |
| EPS · low estimate | — | — | — | — | — | $3.75 | $4.05 |
| EPS · high estimate | — | — | — | — | — | $3.78 | $4.17 |
| Shares · basic | 42.38M | 43.03M | 43.55M | 44.15M | 45.5M | 45.6M | 45.16M |
| Shares · diluted | 42.83M | 43.31M | 43.84M | 44.73M | 45.5M | 45.2M | 45.47M |
| Coverage | |||||||
| Analysts (revenue) | — | — | — | — | — | 2 | 2 |
| Analysts (EPS) | — | — | — | — | — | 2 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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