DFIN Reports Third-Quarter 2025 Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 29 2025
0mins
Source: PRnewswire
Financial Performance: Donnelley Financial Solutions (DFIN) reported a net loss of $40.9 million for Q3 2025, compared to a profit of $8.7 million in Q3 2024, despite a 10.3% increase in software solutions net sales, which now represent 51.7% of total net sales.
Pension Plan Settlement: The company completed the termination and settlement of its primary defined benefit plan, incurring a non-cash charge of $82.8 million and a cash contribution of $12.5 million to fully fund the plan.
Adjusted Earnings: Non-GAAP net earnings for Q3 2025 were $23.7 million, or $0.86 per diluted share, up from $14.3 million, or $0.48 per diluted share, in the same quarter last year, with Adjusted EBITDA increasing by 14.6% to $49.5 million.
Future Outlook: DFIN anticipates total net sales for Q4 2025 to be between $150 million and $160 million, with an Adjusted EBITDA margin projected at 22% to 24%, while noting that the ongoing government shutdown has impacted IPO activity and capital markets transactions.
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Analyst Views on DFIN
Wall Street analysts forecast DFIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DFIN is 61.50 USD with a low forecast of 57.00 USD and a high forecast of 66.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 51.730
Low
57.00
Averages
61.50
High
66.00
Current: 51.730
Low
57.00
Averages
61.50
High
66.00
About DFIN
Donnelley Financial Solutions, Inc. is a provider of software and technology-enabled financial regulatory and compliance solutions. The Company provides regulatory filing and deal solutions through its software, technology-enabled services and print and distribution solutions. Its segments include Capital Markets-Software Solutions (CM-SS), Capital Markets-Compliance and Communications Management (CM-CCM), Investment Companies-Software Solutions (IC-SS), and Investment Companies-Compliance and Communications Management (IC-CCM). CM-SS segment provides software solutions to public and private companies. CM-CCM segment provides technology-enabled services and print and distribution solutions to public and private companies. IC-SS segment provides software solutions that enable clients to store and manage compliance and regulatory information. IC-CCM segment provides clients with tech-enabled solutions for creating, filing and distributing regulatory communications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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