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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and dLocal Ltd (DLO). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $233.0M, roughly 1.5× CSW INDUSTRIALS, INC.). dLocal Ltd runs the higher net margin — 16.5% vs 4.4%, a 12.1% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 20.3%). dLocal Ltd produced more free cash flow last quarter ($99.8M vs $22.7M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
CSW vs DLO — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $337.9M |
| Net Profit | $10.3M | $55.6M |
| Gross Margin | 39.7% | 34.3% |
| Operating Margin | 7.4% | 18.6% |
| Net Margin | 4.4% | 16.5% |
| Revenue YoY | 20.3% | 65.2% |
| Net Profit YoY | -61.9% | 87.3% |
| EPS (diluted) | $0.62 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $233.0M | $337.9M | ||
| Q3 25 | $277.0M | $282.5M | ||
| Q2 25 | $263.6M | — | ||
| Q1 25 | $230.5M | — | ||
| Q4 24 | $193.6M | $204.5M | ||
| Q3 24 | $227.9M | $185.8M | ||
| Q2 24 | $226.2M | — | ||
| Q1 24 | $210.9M | — |
| Q4 25 | $10.3M | $55.6M | ||
| Q3 25 | $40.7M | $141.3M | ||
| Q2 25 | $40.9M | — | ||
| Q1 25 | $35.1M | — | ||
| Q4 24 | $26.9M | $29.7M | ||
| Q3 24 | $36.1M | $90.8M | ||
| Q2 24 | $38.6M | — | ||
| Q1 24 | $31.8M | — |
| Q4 25 | 39.7% | 34.3% | ||
| Q3 25 | 43.0% | 36.5% | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | 40.9% | ||
| Q3 24 | 45.6% | 42.1% | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 44.4% | — |
| Q4 25 | 7.4% | 18.6% | ||
| Q3 25 | 20.5% | 19.7% | ||
| Q2 25 | 20.8% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 15.3% | 20.7% | ||
| Q3 24 | 22.6% | 22.1% | ||
| Q2 24 | 24.3% | — | ||
| Q1 24 | 21.0% | — |
| Q4 25 | 4.4% | 16.5% | ||
| Q3 25 | 14.7% | 50.0% | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 15.2% | — | ||
| Q4 24 | 13.9% | 14.5% | ||
| Q3 24 | 15.8% | 48.9% | ||
| Q2 24 | 17.1% | — | ||
| Q1 24 | 15.1% | — |
| Q4 25 | $0.62 | $0.18 | ||
| Q3 25 | $2.41 | $0.17 | ||
| Q2 25 | $2.43 | — | ||
| Q1 25 | $2.05 | — | ||
| Q4 24 | $1.60 | $0.09 | ||
| Q3 24 | $2.26 | $0.09 | ||
| Q2 24 | $2.47 | — | ||
| Q1 24 | $2.03 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.2M | $719.9M |
| Total DebtLower is stronger | — | $86.7M |
| Stockholders' EquityBook value | $1.1B | $569.4M |
| Total Assets | $2.3B | $1.5B |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $719.9M | ||
| Q3 25 | $31.5M | $604.5M | ||
| Q2 25 | $38.0M | — | ||
| Q1 25 | $225.8M | — | ||
| Q4 24 | $213.8M | $425.2M | ||
| Q3 24 | $273.2M | $560.5M | ||
| Q2 24 | $18.9M | — | ||
| Q1 24 | $22.2M | — |
| Q4 25 | — | $86.7M | ||
| Q3 25 | — | $63.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | $39.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
| Q4 25 | $1.1B | $569.4M | ||
| Q3 25 | $1.1B | $504.7M | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.0B | $489.0M | ||
| Q3 24 | $1.0B | $457.0M | ||
| Q2 24 | $650.2M | — | ||
| Q1 24 | $615.7M | — |
| Q4 25 | $2.3B | $1.5B | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.27× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $28.9M | $100.4M |
| Free Cash FlowOCF − Capex | $22.7M | $99.8M |
| FCF MarginFCF / Revenue | 9.8% | 29.5% |
| Capex IntensityCapex / Revenue | 2.6% | 0.2% |
| Cash ConversionOCF / Net Profit | 2.81× | 1.80× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $378.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $100.4M | ||
| Q3 25 | $61.8M | $315.0M | ||
| Q2 25 | $60.6M | — | ||
| Q1 25 | $27.3M | — | ||
| Q4 24 | $11.6M | $-141.1M | ||
| Q3 24 | $66.8M | $108.3M | ||
| Q2 24 | $62.7M | — | ||
| Q1 24 | $22.4M | — |
| Q4 25 | $22.7M | $99.8M | ||
| Q3 25 | $58.7M | $313.4M | ||
| Q2 25 | $57.7M | — | ||
| Q1 25 | $22.8M | — | ||
| Q4 24 | $8.5M | $-141.6M | ||
| Q3 24 | $61.3M | $107.1M | ||
| Q2 24 | $59.6M | — | ||
| Q1 24 | $17.5M | — |
| Q4 25 | 9.8% | 29.5% | ||
| Q3 25 | 21.2% | 110.9% | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 4.4% | -69.2% | ||
| Q3 24 | 26.9% | 57.6% | ||
| Q2 24 | 26.3% | — | ||
| Q1 24 | 8.3% | — |
| Q4 25 | 2.6% | 0.2% | ||
| Q3 25 | 1.1% | 0.6% | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.6% | 0.2% | ||
| Q3 24 | 2.4% | 0.7% | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 2.3% | — |
| Q4 25 | 2.81× | 1.80× | ||
| Q3 25 | 1.52× | 2.23× | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 0.43× | -4.75× | ||
| Q3 24 | 1.85× | 1.19× | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 0.71× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
DLO
Segment breakdown not available.
