Deluxe (DLX) FY2023 results: revenue $2.2 billion, down 2.0% on the year
Deluxe Corp. (DLX) reported revenue of $2.2 billion for fiscal 2023, the year ended 31 December 2023, down 2.0% on the year before. Net income was $26 million, down 60.1%, and diluted earnings per share $0.59. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$2.2 billion
-2.0% on the year
FY2016FY2023
Operating margin
7.3%
7.6% a year earlier
FY2016FY2023
Net income
$26 million
-60.1% on the year
FY2016FY2023
Diluted EPS
$0.59
-60.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
198
192
211
+3.6%
Capital expenditure
101
n/a
n/a
Free cash flow
97.7
n/a
n/a
Free cash flow margin
4.5%
n/a
n/a
Cash from investing
-43.3
-80.3
-1,067
Cash from financing
-37.7
-48.6
913
Depreciation and amortisation
170
173
149
-1.7%
Share-based compensation
20.5
23.7
29.5
-13.3%
Buybacks
n/a
0.0
0.0
Dividends paid
53.3
52.6
51.7
+1.3%
Dividend per share
$1.20
$1.20
$1.20
0.0%
Diluted shares, weighted
44m
43m
43m
+1.2%
Shares outstanding at period end
44m
43m
43m
+1.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
605
604
575
+0.1%
Debt
1,593
1,644
1,683
-3.1%
Operating lease liabilities
58.8
48.9
56.4
+20.3%
Finance lease liabilities
26.1
27.3
27.4
-4.2%
Other liabilities
798
752
733
+6.2%
Total liabilities and equity
3,081
3,077
3,074
+0.1%
Fixed assets
117
125
126
-6.7%
Goodwill
1,431
1,431
1,430
-0.1%
Intangible assets
392
459
511
-14.6%
Investments
61.9
47.8
47.2
+29.6%
Cash and equivalents
72.0
40.4
41.2
+78.0%
Receivables
191
207
198
-7.6%
Inventory
42.1
52.3
34.9
-19.5%
Other assets
775
714
686
+8.5%
Total assets
3,081
3,077
3,074
+0.1%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.