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Side-by-side financial comparison of Donnelley Financial Solutions, Inc. (DFIN) and Duolingo, Inc. (DUOL). Click either name above to swap in a different company.
Duolingo, Inc. is the larger business by last-quarter revenue ($282.9M vs $172.5M, roughly 1.6× Donnelley Financial Solutions, Inc.). Duolingo, Inc. runs the higher net margin — 14.8% vs 3.6%, a 11.2% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (35.0% vs 10.4%). Duolingo, Inc. produced more free cash flow last quarter ($96.6M vs $47.9M). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (29.9% CAGR vs -7.9%).
Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.
Duolingo, Inc. is a leading global edtech firm operating a gamified language learning platform. It offers free and premium self-paced courses for over 40 languages, plus language certification, math learning tools, and literacy programs, serving individual learners, schools and corporate clients worldwide.
DFIN vs DUOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.5M | $282.9M |
| Net Profit | $6.2M | $42.0M |
| Gross Margin | — | 72.8% |
| Operating Margin | 8.3% | 15.4% |
| Net Margin | 3.6% | 14.8% |
| Revenue YoY | 10.4% | 35.0% |
| Net Profit YoY | -1.6% | 201.7% |
| EPS (diluted) | $0.31 | $0.99 |
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 | $172.5M | $282.9M | ||
| Q3 25 | $175.3M | $271.7M | ||
| Q2 25 | $218.1M | $252.3M | ||
| Q1 25 | $201.1M | $230.7M | ||
| Q4 24 | $156.3M | $209.6M | ||
| Q3 24 | $179.5M | $192.6M | ||
| Q2 24 | $242.7M | $178.3M | ||
| Q1 24 | $203.4M | $167.6M |
| Q4 25 | $6.2M | $42.0M | ||
| Q3 25 | $-40.9M | $292.2M | ||
| Q2 25 | $36.1M | $44.8M | ||
| Q1 25 | $31.0M | $35.1M | ||
| Q4 24 | $6.3M | $13.9M | ||
| Q3 24 | $8.7M | $23.4M | ||
| Q2 24 | $44.1M | $24.4M | ||
| Q1 24 | $33.3M | $27.0M |
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.5% | ||
| Q2 25 | — | 72.4% | ||
| Q1 25 | — | 71.1% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.9% | ||
| Q2 24 | — | 73.4% | ||
| Q1 24 | — | 73.0% |
| Q4 25 | 8.3% | 15.4% | ||
| Q3 25 | 16.1% | 12.9% | ||
| Q2 25 | 24.2% | 13.2% | ||
| Q1 25 | 22.8% | 10.2% | ||
| Q4 24 | 6.0% | 6.6% | ||
| Q3 24 | 10.1% | 7.0% | ||
| Q2 24 | 26.6% | 10.5% | ||
| Q1 24 | 21.9% | 9.8% |
| Q4 25 | 3.6% | 14.8% | ||
| Q3 25 | -23.3% | 107.5% | ||
| Q2 25 | 16.6% | 17.8% | ||
| Q1 25 | 15.4% | 15.2% | ||
| Q4 24 | 4.0% | 6.6% | ||
| Q3 24 | 4.8% | 12.1% | ||
| Q2 24 | 18.2% | 13.7% | ||
| Q1 24 | 16.4% | 16.1% |
| Q4 25 | $0.31 | $0.99 | ||
| Q3 25 | $-1.49 | $5.95 | ||
| Q2 25 | $1.28 | $0.91 | ||
| Q1 25 | $1.05 | $0.72 | ||
| Q4 24 | $0.21 | $0.31 | ||
| Q3 24 | $0.29 | $0.49 | ||
| Q2 24 | $1.47 | $0.51 | ||
| Q1 24 | $1.09 | $0.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.5M | $1.0B |
| Total DebtLower is stronger | $171.3M | — |
| Stockholders' EquityBook value | $379.2M | $1.3B |
| Total Assets | $800.4M | $2.0B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.5M | $1.0B | ||
| Q3 25 | $22.7M | $1.0B | ||
| Q2 25 | $33.8M | $976.2M | ||
| Q1 25 | $16.2M | $884.0M | ||
| Q4 24 | $57.3M | $785.8M | ||
| Q3 24 | $33.6M | $854.4M | ||
| Q2 24 | $35.0M | $888.2M | ||
| Q1 24 | $43.7M | $829.7M |
| Q4 25 | $171.3M | — | ||
| Q3 25 | $154.7M | — | ||
| Q2 25 | $190.1M | — | ||
| Q1 25 | $189.5M | — | ||
| Q4 24 | $124.7M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $379.2M | $1.3B | ||
| Q3 25 | $423.1M | $1.3B | ||
| Q2 25 | $432.1M | $977.0M | ||
| Q1 25 | $419.9M | $893.8M | ||
| Q4 24 | $436.1M | $824.5M | ||
| Q3 24 | $444.5M | $822.5M | ||
| Q2 24 | $441.5M | $766.9M | ||
| Q1 24 | $408.9M | $711.1M |
| Q4 25 | $800.4M | $2.0B | ||
| Q3 25 | $816.3M | $1.9B | ||
| Q2 25 | $874.7M | $1.5B | ||
| Q1 25 | $852.8M | $1.4B | ||
| Q4 24 | $841.6M | $1.3B | ||
| Q3 24 | $843.6M | $1.2B | ||
| Q2 24 | $882.9M | $1.1B | ||
| Q1 24 | $867.8M | $1.1B |
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.45× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $59.8M | $107.3M |
| Free Cash FlowOCF − Capex | $47.9M | $96.6M |
| FCF MarginFCF / Revenue | 27.8% | 34.1% |
| Capex IntensityCapex / Revenue | 6.9% | 3.8% |
| Cash ConversionOCF / Net Profit | 9.65× | 2.56× |
| TTM Free Cash FlowTrailing 4 quarters | $107.8M | $369.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $59.8M | $107.3M | ||
| Q3 25 | $74.4M | $84.2M | ||
| Q2 25 | $68.4M | $90.7M | ||
| Q1 25 | $-37.7M | $105.6M | ||
| Q4 24 | $56.4M | $83.3M | ||
| Q3 24 | $86.4M | $56.3M | ||
| Q2 24 | $56.2M | $62.4M | ||
| Q1 24 | $-27.9M | $83.5M |
| Q4 25 | $47.9M | $96.6M | ||
| Q3 25 | $59.2M | $79.4M | ||
| Q2 25 | $51.7M | $89.5M | ||
| Q1 25 | $-51.0M | $104.3M | ||
| Q4 24 | $41.3M | $81.4M | ||
| Q3 24 | $67.3M | $53.1M | ||
| Q2 24 | $36.8M | $56.8M | ||
| Q1 24 | $-40.2M | $82.1M |
| Q4 25 | 27.8% | 34.1% | ||
| Q3 25 | 33.8% | 29.2% | ||
| Q2 25 | 23.7% | 35.5% | ||
| Q1 25 | -25.4% | 45.2% | ||
| Q4 24 | 26.4% | 38.8% | ||
| Q3 24 | 37.5% | 27.6% | ||
| Q2 24 | 15.2% | 31.9% | ||
| Q1 24 | -19.8% | 49.0% |
| Q4 25 | 6.9% | 3.8% | ||
| Q3 25 | 8.7% | 1.8% | ||
| Q2 25 | 7.7% | 0.5% | ||
| Q1 25 | 6.6% | 0.6% | ||
| Q4 24 | 9.7% | 0.9% | ||
| Q3 24 | 10.6% | 1.7% | ||
| Q2 24 | 8.0% | 3.1% | ||
| Q1 24 | 6.0% | 0.8% |
| Q4 25 | 9.65× | 2.56× | ||
| Q3 25 | — | 0.29× | ||
| Q2 25 | 1.89× | 2.02× | ||
| Q1 25 | -1.22× | 3.01× | ||
| Q4 24 | 8.95× | 5.99× | ||
| Q3 24 | 9.93× | 2.41× | ||
| Q2 24 | 1.27× | 2.56× | ||
| Q1 24 | -0.84× | 3.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
DUOL
| License And Service | $242.3M | 86% |
| Advertising | $20.2M | 7% |
| English Test | $10.3M | 4% |
| Other | $10.1M | 4% |
