Distribution Solutions (DSGR) financial statements
Distribution Solutions reported revenue of $2.0B in fiscal 2025, up 24.4% a year over 9 years.
Net income was $8M and the operating margin 4.0%, against -0.5% in 2016.
Free cash flow was $63M, and the company returned $24M in net buybacks.
The diluted share count rose 169% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Distribution Solutions's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $277M | $306M | $350M | $371M | $352M | $520M | $1.2B | $1.6B | $1.8B | $2.0B |
| Cost of revenue | $109M | $123M | $145M | $173M | $165M | $390M | $761M | $1.0B | $1.2B | $1.3B |
| Gross profit | $168M | $183M | $190M | $197M | $187M | $130M | $391M | $552M | $614M | $662M |
| Selling, general and admin | $170M | $179M | $180M | $188M | $166M | $119M | $349M | $509M | $558M | $584M |
| Operating income | -$1M | $10M | $9M | $9M | $21M | $11M | $42M | $43M | $56M | $78M |
| Interest expense | $496,000 | $622,000 | $1M | $603,000 | $654,000 | $17M | $24M | $43M | $55M | $55M |
| Pre-tax income | -$2M | $10M | $7M | $10M | $21M | -$5M | $13M | -$2M | -$536,000 | $19M |
| Income tax | $98,000 | -$20M | $649,000 | $2M | $6M | $313,000 | $6M | $7M | $7M | $11M |
| Net income | -$2M | $30M | $6M | $7M | $15M | -$5M | $7M | -$9M | -$7M | $8M |
| EPS (diluted) | -$0.10 | $1.62 | $0.34 | $0.39 | $0.81 | -$0.24 | $0.21 | -$0.20 | -$0.16 | $0.18 |
| Diluted shares | 18M | 18M | 19M | 19M | 19M | 19M | 35M | 45M | 47M | 47M |
| Gross margin | 60.8% | 59.8% | 54.2% | 53.2% | 53.1% | 25.0% | 33.9% | 35.1% | 34.0% | 33.4% |
| Operating margin | -0.5% | 3.2% | 2.6% | 2.4% | 5.8% | 2.2% | 3.6% | 2.7% | 3.1% | 4.0% |
| Net margin | -0.6% | 9.7% | 1.8% | 1.9% | 4.3% | -1.0% | 0.6% | -0.6% | -0.4% | 0.4% |
Balance sheet
Fiscal years, from Distribution Solutions's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $10M | $4M | $12M | $5M | $28M | $15M | $25M | $84M | $66M | $62M |
| Receivables | $30M | $39M | $38M | $39M | $45M | $81M | $166M | $213M | $251M | $271M |
| Inventory | $43M | $51M | $53M | $56M | $62M | $133M | $264M | $316M | $348M | $353M |
| Total current assets | $88M | $98M | $107M | $106M | $143M | $236M | $478M | $657M | $712M | $747M |
| Property, plant and equipment | $31M | $27M | $24M | $17M | $16M | $19M | $64M | $114M | $126M | $127M |
| Goodwill | $6M | $20M | $20M | $21M | $93M | $104M | $348M | $400M | $463M | $468M |
| Total assets | $135M | $191M | $197M | $204M | $256M | $491M | $1.2B | $1.6B | $1.7B | $1.7B |
| Total current liabilities | $39M | $60M | $66M | $57M | $98M | $215M | $169M | $242M | $266M | $291M |
| Long-term debt | — | — | — | — | — | $93M | $396M | $536M | $694M | $664M |
| Total liabilities | $74M | $98M | $98M | $96M | $134M | $326M | $653M | $889M | $1.1B | $1.1B |
| Shareholders' equity | $61M | $93M | $99M | $108M | $155M | $166M | $563M | $662M | $641M | $649M |
| Net debt | -$10M | -$4M | -$12M | -$5M | -$28M | $213M | $388M | $485M | $668M | $638M |
Cash flow
Fiscal years, from Distribution Solutions's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $9M | $7M | $20M | $9M | $33M | $10M | -$11M | $102M | $56M | $84M |
| Capital spending | $3M | $1M | $3M | $2M | $2M | $3M | $8M | $15M | $14M | $21M |
| Free cash flow | $6M | $6M | $18M | $7M | $31M | $7M | -$19M | $87M | $43M | $63M |
| Stock-based compensation | $2M | $3M | $8M | $4M | $1M | $5M | $2M | $8M | $5M | $7M |
| Share buybacks (net) | -$176,000 | -$20,000 | -$523,000 | -$5M | -$3M | $0 | -$2M | -$4M | -$3M | -$24M |
| Free cash flow margin | 2.0% | 1.9% | 5.1% | 1.9% | 8.8% | 1.4% | -1.7% | 5.5% | 2.4% | 3.2% |
Questions
What was Distribution Solutions's revenue in 2025?
$2.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Distribution Solutions generate?
$63M in fiscal 2025 (operating cash flow minus capital spending).
From Distribution Solutions's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.