Latest Ratios: P/E Ratio 13.4x · EV/EBITDA 5.9x · ROE 13.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $1.0B | $1.0B | $940M | $735M | $1.4B | $1.2B | $2.1B | $1.8B | $3.7B | $3.5B |
| Enterprise Value | $2.3B | $2.3B | $2.5B | $2.5B | $2.4B | $3.1B | $2.0B | $3.0B | $2.7B | $4.4B | $4.2B |
| P/E Ratio → | 13.41 | 12.41 | 19.14 | 36.36 | 11.32 | 22.14 | 139.05 | — | 11.58 | 16.28 | 15.40 |
| P/S Ratio | 0.51 | 0.48 | 0.48 | 0.43 | 0.33 | 0.68 | 0.69 | 1.07 | 0.90 | 1.89 | 1.90 |
| P/B Ratio | 1.61 | 1.49 | 1.63 | 1.56 | 1.22 | 2.39 | 2.40 | 3.76 | 1.96 | 3.66 | 3.98 |
| P/FCF | 6.21 | 5.80 | 10.11 | 9.63 | 8.46 | 13.52 | 7.94 | 9.76 | 6.52 | 12.78 | 12.87 |
| P/OCF | 4.02 | 3.75 | 5.20 | 4.74 | 3.84 | 6.52 | 5.66 | 7.49 | 5.32 | 10.99 | 10.99 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.06 | 1.20 | 1.16 | 1.07 | 1.53 | 1.11 | 1.50 | 1.33 | 2.22 | 2.27 |
| EV / EBITDA | 5.89 | 5.70 | 7.10 | 7.67 | 7.02 | 10.62 | 13.12 | — | 7.17 | 9.63 | 9.11 |
| EV / EBIT | 8.90 | 9.19 | 12.72 | 15.31 | 13.43 | 20.68 | 39.79 | — | 11.09 | 13.07 | 11.56 |
| EV / FCF | — | 12.86 | 25.43 | 25.95 | 27.63 | 30.37 | 12.82 | 13.65 | 9.59 | 15.02 | 15.37 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.0% | 53.0% | 53.1% | 53.0% | 53.9% | 56.3% | 59.2% | 59.5% | 60.4% | 62.2% | 63.9% |
| Operating Margin | 12.3% | 12.3% | 9.1% | 7.3% | 7.6% | 7.0% | 2.3% | -9.4% | 12.0% | 16.8% | 19.9% |
| Net Profit Margin | 4.0% | 4.0% | 2.5% | 1.2% | 2.9% | 3.1% | 0.3% | -11.1% | 7.8% | 11.7% | 12.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.1% | 13.1% | 8.6% | 4.3% | 11.1% | 11.5% | 1.0% | -30.0% | 16.1% | 24.3% | 28.2% |
| ROA | 3.0% | 3.0% | 1.8% | 0.8% | 2.1% | 2.5% | 0.3% | -10.5% | 6.9% | 10.5% | 11.4% |
| ROIC | 9.6% | 9.6% | 6.6% | 5.4% | 5.6% | 6.0% | 2.3% | -8.8% | 10.5% | 15.4% | 19.2% |
| ROCE | 11.8% | 11.8% | 8.6% | 7.0% | 7.2% | 7.4% | 2.7% | -10.9% | 12.9% | 18.7% | 25.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.26 | 2.26 | 2.52 | 2.75 | 2.82 | 3.05 | 1.71 | 1.63 | 0.99 | 0.70 | 0.86 |
| Debt / EBITDA | 3.92 | 3.92 | 4.37 | 5.04 | 4.99 | 6.03 | 5.81 | — | 2.46 | 1.56 | 1.65 |
| Net Debt / Equity | — | 1.81 | 2.46 | 2.64 | 2.76 | 2.98 | 1.47 | 1.50 | 0.92 | 0.64 | 0.77 |
| Net Debt / EBITDA | 3.13 | 3.13 | 4.28 | 4.82 | 4.87 | 5.89 | 4.99 | — | 2.30 | 1.43 | 1.48 |
| Debt / FCF | — | 7.06 | 15.32 | 16.32 | 19.17 | 16.85 | 4.88 | 3.89 | 3.08 | 2.23 | 2.50 |
| Interest Coverage | 2.01 | 2.01 | 1.62 | 1.32 | 1.89 | 2.69 | 2.16 | -5.22 | 8.85 | 15.62 | 16.26 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.04 | 1.04 | 0.98 | 0.93 | 0.94 | 0.91 | 1.23 | 1.16 | 1.18 | 0.92 | 0.96 |
| Quick Ratio | 0.98 | 0.98 | 0.92 | 0.88 | 0.87 | 0.86 | 1.13 | 1.06 | 1.05 | 0.82 | 0.86 |
| Cash Ratio | 0.48 | 0.48 | 0.05 | 0.09 | 0.05 | 0.06 | 0.30 | 0.18 | 0.16 | 0.14 | 0.18 |
| Asset Turnover | — | 0.74 | 0.75 | 0.71 | 0.73 | 0.66 | 0.97 | 1.03 | 0.87 | 0.89 | 0.85 |
| Inventory Turnover | 29.92 | 29.92 | 27.35 | 24.46 | 19.75 | 25.32 | 18.21 | 20.36 | 17.05 | 17.56 | 16.61 |
| Days Sales Outstanding | — | 37.66 | 34.55 | 36.15 | 40.02 | 76.94 | 36.60 | 35.65 | 37.33 | 30.87 | 30.13 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.0% | 5.4% | 5.4% | 5.7% | 7.2% | 3.8% | 4.1% | 2.4% | 3.1% | 1.6% | 1.7% |
| Payout Ratio | 64.8% | 64.8% | 102.6% | 204.2% | 80.5% | 82.5% | 967.7% | — | 36.3% | 25.2% | 25.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.5% | 8.1% | 5.2% | 2.8% | 8.8% | 4.5% | 0.7% | — | 8.6% | 6.1% | 6.5% |
| FCF Yield | 16.1% | 17.3% | 9.9% | 10.4% | 11.8% | 7.4% | 12.6% | 10.2% | 15.3% | 7.8% | 7.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | 5.5% | 11.1% | 1.7% | 1.6% |
| Total Shareholder Yield | 5.0% | 5.4% | 5.4% | 5.7% | 7.2% | 3.8% | 5.3% | 7.9% | 14.2% | 3.3% | 3.2% |
| Shares Outstanding | — | $46M | $45M | $44M | $43M | $43M | $42M | $43M | $47M | $48M | $49M |
Secular check volume decline
According to current market data, DLX trades at a forward P/E of 6.34, which suggests that investors are heavily discounting the company's future earnings potential compared to the broader market and its fintech-oriented peers, likely due to the persistent secular decline in its legacy check printing business.
The low valuation multiples, including an EV/EBITDA of 5.86, indicate that the market views the company as a value trap rather than a growth-oriented fintech platform. This pricing implies that investors remain unconvinced that the Payments and Cloud segments can achieve sufficient scale to offset the structural erosion of the core check business.
Based on reported financial figures, DLX's ROIC has remained suppressed, fluctuating between 1.4% and 2.7% over the last ten quarters, which indicates that the company is struggling to generate meaningful returns on its invested capital as it navigates a capital-intensive transition toward digital payment services.
The low ROIC is largely a function of the significant goodwill and intangible assets carried on the balance sheet from past acquisitions. This suggests that the company's historical capital allocation has yet to yield the operational efficiencies required to drive superior returns compared to its cost of capital.
As reported in recent quarterly filings, DLX's cash conversion cycle has shown significant volatility, swinging from -15 days to -2 days, which suggests that the company's ability to manage its working capital is frequently disrupted by the operational complexities of its diverse business segments.
The inconsistency in the cash conversion cycle highlights the difficulty in balancing the payment terms of legacy check customers with the requirements of newer, cloud-based service contracts. This operational friction warrants further investigation into whether the company's internal processes are sufficiently integrated to support a more efficient working capital profile.
Based on the provided balance sheet data, DLX's debt-to-equity ratio remains elevated, peaking at 2.75 in 2023Q4, which indicates that the company's ongoing business model transformation is being financed through significant leverage rather than internal cash generation, leaving little room for error in its capital deployment strategy.
The interest coverage ratio, which has hovered between 1.45 and 2.59, suggests that the company's ability to service its debt is sensitive to even minor fluctuations in operating income. Investors should monitor this closely, as any further compression in margins could jeopardize the company's ability to meet its debt obligations.
The P/E ratio is frequently misapplied to DLX because it fails to account for the significant non-cash amortization charges resulting from past acquisitions, which artificially depress reported net income and obscure the company's true cash-generative capacity during its multi-year transition toward a digital-first business model.
Analysts should instead focus on P/FCF or EV/EBITDA to better understand the underlying cash flow generation of the business. Relying on P/E ignores the reality that the company's earnings are currently being suppressed by accounting treatments that do not reflect the actual operational performance of its core segments.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying DLX stock.
Deluxe Corporation's current P/E ratio is 13.4x. The historical average is 20.7x. This places it at the 55th percentile of its historical range.
Deluxe Corporation's current EV/EBITDA is 5.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.2x.
Deluxe Corporation's return on equity (ROE) is 13.1%. The historical average is 61.5%.
Based on historical data, Deluxe Corporation is trading at a P/E of 13.4x. This is at the 55th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Deluxe Corporation's current dividend yield is 5.03% with a payout ratio of 64.8%.
Deluxe Corporation has 53.0% gross margin and 12.3% operating margin. Operating margin between 10-20% is typical for established companies.
Deluxe Corporation's Debt/EBITDA ratio is 3.9x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.