D
DAILY JOURNAL CORP
DJCOCIK 0000783412NasdaqNon-AcceleratedSmaller ReportingNewspapers: Publishing Or Publishing & PrintingSouth CarolinaFY ends Sep 30
Period
FY 2025
Revenue
—
Net Income
$112.14M
Total Assets
$548.12M
Equity
$391.06M
Shares Out
1.38M
Op. Cash Flow
$13.33M
Business
DAILY JOURNAL CORP publishes newspapers and websites covering California and Arizona news and provides specialized information publications and public notice advertising. It offers legal- and business-focused newspapers, court rules and judicial profiles, continuing legal education materials, reprints, and case management software, e-filing and online payment solutions via its subsidiary Journal Technologies. Its key segments are the Traditional Business (newspapers and information services) and Journal Technologies (software, hosting and consulting). It operates mainly in California and Utah, with activities in Arizona, British Columbia and Australia, and distributes by mail, hand delivery and online.
Summary from filing dated 2025-12-29
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Revenues | 88 | 70 | 68 | 54 | 50 | |
| Salaries and employee benefits | 56 | 47 | 43 | 36 | 34 | |
| Stock-based compensation | 100,000 | 200,000 | — | — | — | |
| Increase (decrease) to the long-term supplemental compensation accrual | 2 | −495,000 | −295,000 | 1 | 2 | |
| Agency commissions | 1 | 1 | 1 | 905,000 | 536,000 | |
| Outside services | 8 | 7 | 7 | 4 | 3 | |
| Postage and delivery expenses | 774,000 | 752,000 | 684,000 | 668,000 | 654,000 | |
| Newsprint and printing expenses | 639,000 | 669,000 | 795,000 | 739,000 | 625,000 | |
| Equipment maintenance and software | 2 | 2 | 1 | 1 | 1 | |
| Credit card merchant discount fees | 2 | 2 | 2 | 2 | 2 | |
| Accounting and legal fees | 1 | 1 | 940,000 | 833,000 | 937,000 | |
| Other general and administrative expenses | 5 | 4 | 4 | 3 | 2 | |
| Total operating expenses | 78 | 66 | 61 | 52 | 48 | |
| Income from operations | 10 | 4 | 7 | 2 | 2 | |
| Dividends and interest income | 7 | 7 | 8 | 5 | 3 | |
| Net realized and unrealized gains on marketable securities | 134 | 96 | 17 | — | — | |
| Net unrealized (losses) gains on non-qualified compensation plan | 64,000 | 47,000 | −4,000 | — | — | |
| Other income | 113,000 | 4,000 | — | — | — | |
| Income before taxes | 150 | 104 | 28 | −103 | 153 | |
| Income tax provision | −38 | −26 | −7 | 27 | −40 | |
| Net income | 112 | 78 | 21 | −21 | 113 | |
| Weighted average number of common shares outstanding basic (in shares) | 1 | 1 | 1 | 1 | 1 | |
| Basic net income per share (in dollars per share) | 81.41 | 56.73 | 15.58 | −54.81 | 81.77 | |
| Weighted average number of common shares outstanding diluted (in shares) | 1 | 1 | — | — | — | |
| Diluted net income per share (in dollars per share) | 81.41 | 56.73 | — | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-12-31 | FY 2023 2023-09-30 | FY 2022 2022-09-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 21 | 13 | — | 21 | 13 | |
| Restricted cash | 2 | 2 | — | 2 | 2 | |
| Non-qualified deferred compensation plan trust account asset value | 1 | 748,000 | — | 194,000 | — | |
| Marketable securities at fair value | 493 | 359 | — | 303 | 276 | |
| Accounts receivable, net | 21 | 19 | — | 19 | 17 | |
| Prepaid expenses and other current assets | 959,000 | 660,000 | — | 380,000 | 451,000 | |
| Total current assets | 539 | 394 | — | 345 | 309 | |
| Property, plant, and equipment, net | 9 | 9 | — | 9 | 10 | |
| Total assets | 548 | 404 | — | 355 | 319 | |
| Accounts payable | 7 | 6 | — | 7 | 5 | |
| Accrued liabilities | 13 | 9 | — | 9 | 7 | |
| Note payable collateralized by real estate | 169,000 | 164,000 | — | 158,000 | 146,000 | |
| Income taxes | 879,000 | 0 | — | 1 | — | |
| Contract with Customer, Liability, Current | 19 | 24 | 26 | — | — | |
| Total current liabilities | 39 | 38 | — | 42 | 34 | |
| Investment margin account borrowings | 22 | 28 | — | 75 | 75 | |
| Long-term note payable collateralized by real estate | 787,000 | 956,000 | — | 1 | 1 | |
| Long-term deferred maintenance agreements | 994,000 | 883,000 | 1 | 1 | 370,000 | |
| Long-term accrued liabilities | 6 | 4 | — | 4 | 5 | |
| Accrued non-qualified deferred compensation | 2 | 784,000 | — | 200,000 | — | |
| Deferred income taxes | 87 | 53 | — | 31 | 25 | |
| Total liabilities | 157 | 125 | — | — | — | |
| Common stock, $.01 par value, 5,000,000 shares authorized; 1,805,053 shares issued and outstanding, and 427,627 treasury shares, as of September 30, 2025, and 2024, respectively | 14,000 | 14,000 | — | 0 | 0 | |
| Additional paid-in capital | 2 | 2 | — | 2 | 2 | |
| Retained earnings | 389 | 277 | — | 199 | 177 | |
| Total stockholders equity | 391 | 279 | — | 200 | 179 | |
| Total liabilities and stockholders equity | 548 | 404 | — | 355 | 319 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 140,000 | 202,000 | — | — | — | |
| Depreciation and amortization | 257,000 | 267,000 | 279,000 | 379,000 | 480,000 | |
| Gains on sales of capital assets | 0 | −4,000 | — | — | — | |
| Net realized and unrealized gains on marketable securities | −134 | −96 | −17 | 123 | — | |
| Deferred income taxes | 35 | 22 | 5 | −31 | 32 | |
| Accounts receivable, net | −2 | −532,000 | −2 | −7 | −3 | |
| Prepaid expenses and other assets | −210,000 | −239,000 | 80,000 | 217,000 | 56,000 | |
| Accounts payable | 1 | −594,000 | 2 | 823,000 | 313,000 | |
| Accrued liabilities, including non-qualified deferred compensation | 6 | −190,000 | 2 | 2 | 3 | |
| Income tax payable | 879,000 | −1 | 1 | −6 | 6 | |
| Net cash provided (used in) by operating activities | 13 | −89,000 | 15 | −5 | 3 | |
| Proceeds from sales of marketable securities | 0 | 41 | 3 | 81 | 45 | |
| Proceeds on sales of capital assets | 0 | 4,000 | — | 381,000 | — | |
| Purchases of property, plant and equipment, net | −8,000 | −49,000 | 86,000 | 36,000 | −29,000 | |
| Net cash (used in) provided by investing activities | −8,000 | 41 | −7 | −37 | −20 | |
| Payments to margin loan borrowing | −6 | −48 | −6 | −14,000 | −14 | |
| Payments of real estate loan principal | −164,000 | −158,000 | −153,000 | −147,000 | −131,000 | |
| Net cash used in financing activities | −6 | −48 | −153,000 | 43 | 2 | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 8 | −7 | 8 | 829,000 | −14 | |
| Interest paid during year | 1 | 3 | 4 | 1 | 329,000 | |
| Income taxes paid during year | 2 | 5 | 806,000 | 11 | 2 |
Filings
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Holdings (13F)
Portfolio as of 2026-01-14 · 5 positions
Reported AUM
$212.60M
Holdings
5
Top sector
$212.60M
Top sectors
| Sector | Value | % of portfolio |
|---|---|---|
| Uncategorized | $212.60M | 100.0% |
Top holdings
| Issuer | Ticker | Shares | Value | % |
|---|---|---|---|---|
| Bank of America Corp | — | 2.30M | $94.81M | 44.6% |
| Wells Fargo & Co | — | 1.59M | $77.14M | 36.3% |
| Alibaba Group Holding Ltd | — | 300.0K | $32.64M | 15.3% |
| US Bancorp | — | 140.0K | $7.44M | 3.5% |
| Posco ADR | — | 9.7K | $577.0K | 0.3% |