DELUXE CORP

Listed Company

DLXCIK 0000027996NYSELarge AcceleratedBlankbooks, Looseleaf Binders & Bookbindg & Relatd WorkMinnesotaFY ends Dec 31

Period

FY 2025

Revenue

$2.13B

Net Income

$82.10M

Total Assets

$2.86B

Equity

$680.70M

Shares Out

45.08M

Op. Cash Flow

$270.60M

Business

DELUXE CORP is a Payments and Data company that provides payment processing, receivables and disbursement automation, data-driven marketing, and print products and services. It offers merchant in-store, online, and mobile payment solutions; treasury and automated receivables technology; integrated accounts payable/disbursement solutions and fraud/security services; data, analytics and marketing services; and printed checks, forms, promotional and business essentials. The company reports four business segments: Merchant Services, B2B Payments, Data Solutions, and Print. It primarily serves clients across North America, selling directly to financial institutions, small and medium-sized businesses, and major brands, and distributes via strategic partnerships and digital channels.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	2,133	2,122	2,192	2,238	2,022
Total cost of revenue	−1,003	−995	−1,030	−1,032	−884
Selling, general and administrative expense	−873	−909	−956	−993	−941
Restructuring and integration expense	−19	−49	−78	−63	−55
Asset impairment charges	−6	−8	0	0	0
Gain on sale of businesses and long-lived assets	0	31	32	19	0
Operating income	232	192	161	169	142
Interest expense	−122	−123	−126	−94	−56
Other income, net	9	8	5	9	7
Income before income taxes	119	77	40	84	94
Income tax provision	−37	−24	−14	−19	−31
Net income	82	53	26	66	63
Net income attributable to non-controlling interest	−100,000	−100,000	−100,000	−135,000	−139,000
Net income attributable to Deluxe	82	53	26	65	63
Basic earnings per share	1.83	1.2	0.6	1.52	1.48
Diluted earnings per share	1.8	1.18	0.59	1.5	1.45

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	37	34	72	40	41
Settlement processing assets	274	272	383	—	—
Trade accounts receivable, net of allowance for credit losses	188	174	191	207	198
Inventories and supplies, net of reserve	34	36	42	52	35
Prepaid expenses	33	33	30	37	38
Revenue in excess of billings	31	27	26	39	30
Other current assets	70	35	17	27	24
Total current assets	666	612	761	704	620
Goodwill	1,423	1,423	1,431	1,431	1,430
Intangibles, net of accumulated amortization	348	331	392	459	511
Property, plant and equipment, net of accumulated depreciation	101	112	117	125	126
Operating lease assets	43	49	59	47	58
Long-term investments	26	61	62	48	47
Deferred income taxes	2	7	9	2	2
Other non-current assets	254	237	251	260	279
Total assets	2,864	2,831	3,081	3,077	3,074
Accounts payable	161	165	155	157	153
Settlement processing obligations	275	274	387	—	—
Accrued liabilities	191	150	191	218	217
Current portion of long-term debt	16	37	86	72	57
Total current liabilities	643	626	819	752	683
Long-term debt	1,413	1,466	1,507	1,573	1,626
Operating lease liabilities	40	49	59	49	56
Deferred income taxes	27	2	23	46	75
Other non-current liabilities	60	68	69	53	59
Commitments and contingencies (Notes 9, 13 and 14)	—	—	—	—	—
Common shares $1 par value (authorized: 500.0 shares; outstanding: December 31, 2025 - 45.0; December 31, 2024 - 44.3)	45	44	44	43	43
Additional paid-in capital	138	117	99	79	57
Retained earnings	516	489	491	519	506
Accumulated other comprehensive loss	−19	−30	−30	−37	−31
Non-controlling Interest	300,000	200,000	522,000	415,000	280,000
Total shareholders' equity	681	621	605	604	575
Total liabilities and shareholders' equity	2,864	2,831	3,081	3,077	3,074

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of intangibles	116	143	146	147	123
Depreciation	22	22	23	26	26
Amortization of prepaid product discounts	33	35	33	34	32
Deferred income taxes	27	−20	−32	−29	18
Employee share-based compensation expense	25	20	21	24	29
Amortization of cloud computing arrangement implementation costs	15	17	16	11	6
Operating lease expense	15	18	19	20	17
Other non-cash items, net	22	39	36	20	11
Trade accounts receivable	−20	4	7	−14	−9
Inventories and supplies	3	3	6	−19	−2
Other current and non-current assets	−21	−35	−2	−26	−27
Accounts payable	−4	11	5	6	23
Prepaid product discount payments	−29	−30	−29	−31	−41
Other accrued and non-current liabilities	−20	−60	−46	−6	−17
Net cash provided by operating activities	271	194	198	192	211
Purchases of capital assets	−95	−94	−101	—	—
Proceeds from company-owned life insurance policies	6	2	6	—	—
Proceeds from sale of businesses and long-lived assets	2	23	54	25	—
Proceeds from sale of settlement processing asset debt securities	0	0	8	4	93,000
Other	4	−300,000	−10	−5	−2
Net cash used by investing activities	−132	−70	−43	−80	−1,067
Proceeds from issuing long-term debt and swingline loans	441	1,808	584	640	1,885
Payments on long-term debt and swingline loans	−519	−1,890	−639	−681	−1,030
Payments for debt issuance costs	−600,000	−15	0	0	−18
Cash dividends paid to shareholders	−55	−54	−53	−53	−52
Net change in settlement processing obligations	2	−108	79	56	127
Other	−6	−8	−8	−12	−16
Net cash used by financing activities	−137	−267	−38	−49	913
Effect of exchange rate change on cash, cash equivalents, restricted cash, and restricted cash equivalents	2	−6	3	−11	−1
Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents	4	−149	121	52	56

Filings

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