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Side-by-side financial comparison of Donnelley Financial Solutions, Inc. (DFIN) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Donnelley Financial Solutions, Inc. is the larger business by last-quarter revenue ($172.5M vs $97.9M, roughly 1.8× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 3.6%, a 24.9% gap on every dollar of revenue. On growth, Donnelley Financial Solutions, Inc. posted the faster year-over-year revenue change (10.4% vs 6.5%). Over the past eight quarters, Safehold Inc.'s revenue compounded faster (2.5% 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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
DFIN vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.5M | $97.9M |
| Net Profit | $6.2M | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | 8.3% | 27.4% |
| Net Margin | 3.6% | 28.5% |
| Revenue YoY | 10.4% | 6.5% |
| Net Profit YoY | -1.6% | 7.1% |
| EPS (diluted) | $0.31 | $0.38 |
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 | $97.9M | ||
| Q3 25 | $175.3M | $96.2M | ||
| Q2 25 | $218.1M | $93.8M | ||
| Q1 25 | $201.1M | $97.7M | ||
| Q4 24 | $156.3M | $91.9M | ||
| Q3 24 | $179.5M | $90.7M | ||
| Q2 24 | $242.7M | $89.9M | ||
| Q1 24 | $203.4M | $93.2M |
| Q4 25 | $6.2M | $27.9M | ||
| Q3 25 | $-40.9M | $29.3M | ||
| Q2 25 | $36.1M | $27.9M | ||
| Q1 25 | $31.0M | $29.4M | ||
| Q4 24 | $6.3M | $26.0M | ||
| Q3 24 | $8.7M | $19.3M | ||
| Q2 24 | $44.1M | $29.7M | ||
| Q1 24 | $33.3M | $30.7M |
| Q4 25 | — | 98.6% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.8% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 98.8% | ||
| Q2 24 | — | 98.8% | ||
| Q1 24 | — | 98.8% |
| Q4 25 | 8.3% | 27.4% | ||
| Q3 25 | 16.1% | 25.9% | ||
| Q2 25 | 24.2% | 25.5% | ||
| Q1 25 | 22.8% | 25.9% | ||
| Q4 24 | 6.0% | 24.6% | ||
| Q3 24 | 10.1% | 17.5% | ||
| Q2 24 | 26.6% | 26.7% | ||
| Q1 24 | 21.9% | 26.4% |
| Q4 25 | 3.6% | 28.5% | ||
| Q3 25 | -23.3% | 30.5% | ||
| Q2 25 | 16.6% | 29.8% | ||
| Q1 25 | 15.4% | 30.1% | ||
| Q4 24 | 4.0% | 28.3% | ||
| Q3 24 | 4.8% | 21.3% | ||
| Q2 24 | 18.2% | 33.0% | ||
| Q1 24 | 16.4% | 33.0% |
| Q4 25 | $0.31 | $0.38 | ||
| Q3 25 | $-1.49 | $0.41 | ||
| Q2 25 | $1.28 | $0.39 | ||
| Q1 25 | $1.05 | $0.41 | ||
| Q4 24 | $0.21 | $0.36 | ||
| Q3 24 | $0.29 | $0.27 | ||
| Q2 24 | $1.47 | $0.42 | ||
| Q1 24 | $1.09 | $0.43 |
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 | $21.7M |
| Total DebtLower is stronger | $171.3M | $4.6B |
| Stockholders' EquityBook value | $379.2M | $2.4B |
| Total Assets | $800.4M | $7.2B |
| Debt / EquityLower = less leverage | 0.45× | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.5M | $21.7M | ||
| Q3 25 | $22.7M | $12.1M | ||
| Q2 25 | $33.8M | $13.9M | ||
| Q1 25 | $16.2M | $17.3M | ||
| Q4 24 | $57.3M | $8.3M | ||
| Q3 24 | $33.6M | $15.6M | ||
| Q2 24 | $35.0M | $13.4M | ||
| Q1 24 | $43.7M | $11.3M |
| Q4 25 | $171.3M | $4.6B | ||
| Q3 25 | $154.7M | $4.5B | ||
| Q2 25 | $190.1M | $4.4B | ||
| Q1 25 | $189.5M | $4.3B | ||
| Q4 24 | $124.7M | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $379.2M | $2.4B | ||
| Q3 25 | $423.1M | $2.4B | ||
| Q2 25 | $432.1M | $2.4B | ||
| Q1 25 | $419.9M | $2.4B | ||
| Q4 24 | $436.1M | $2.3B | ||
| Q3 24 | $444.5M | $2.3B | ||
| Q2 24 | $441.5M | $2.3B | ||
| Q1 24 | $408.9M | $2.3B |
| Q4 25 | $800.4M | $7.2B | ||
| Q3 25 | $816.3M | $7.1B | ||
| Q2 25 | $874.7M | $7.1B | ||
| Q1 25 | $852.8M | $6.9B | ||
| Q4 24 | $841.6M | $6.9B | ||
| Q3 24 | $843.6M | $6.8B | ||
| Q2 24 | $882.9M | $6.8B | ||
| Q1 24 | $867.8M | $6.7B |
| Q4 25 | 0.45× | 1.90× | ||
| Q3 25 | 0.37× | 1.89× | ||
| Q2 25 | 0.44× | 1.87× | ||
| Q1 25 | 0.45× | 1.85× | ||
| Q4 24 | 0.29× | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | $47.9M | — |
| FCF MarginFCF / Revenue | 27.8% | — |
| Capex IntensityCapex / Revenue | 6.9% | — |
| Cash ConversionOCF / Net Profit | 9.65× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $107.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $59.8M | $47.8M | ||
| Q3 25 | $74.4M | $-1.4M | ||
| Q2 25 | $68.4M | $28.0M | ||
| Q1 25 | $-37.7M | $8.9M | ||
| Q4 24 | $56.4M | $37.9M | ||
| Q3 24 | $86.4M | $8.3M | ||
| Q2 24 | $56.2M | $24.8M | ||
| Q1 24 | $-27.9M | $-3.1M |
| Q4 25 | $47.9M | — | ||
| Q3 25 | $59.2M | — | ||
| Q2 25 | $51.7M | — | ||
| Q1 25 | $-51.0M | — | ||
| Q4 24 | $41.3M | — | ||
| Q3 24 | $67.3M | — | ||
| Q2 24 | $36.8M | — | ||
| Q1 24 | $-40.2M | — |
| Q4 25 | 27.8% | — | ||
| Q3 25 | 33.8% | — | ||
| Q2 25 | 23.7% | — | ||
| Q1 25 | -25.4% | — | ||
| Q4 24 | 26.4% | — | ||
| Q3 24 | 37.5% | — | ||
| Q2 24 | 15.2% | — | ||
| Q1 24 | -19.8% | — |
| Q4 25 | 6.9% | — | ||
| Q3 25 | 8.7% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 9.7% | — | ||
| Q3 24 | 10.6% | — | ||
| Q2 24 | 8.0% | — | ||
| Q1 24 | 6.0% | — |
| Q4 25 | 9.65× | 1.72× | ||
| Q3 25 | — | -0.05× | ||
| Q2 25 | 1.89× | 1.00× | ||
| Q1 25 | -1.22× | 0.30× | ||
| Q4 24 | 8.95× | 1.45× | ||
| Q3 24 | 9.93× | 0.43× | ||
| Q2 24 | 1.27× | 0.83× | ||
| Q1 24 | -0.84× | -0.10× |
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% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
