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Side-by-side financial comparison of dLocal Ltd (DLO) and Hilltop Holdings Inc. (HTH). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $300.5M, roughly 1.1× Hilltop Holdings Inc.). dLocal Ltd runs the higher net margin — 16.5% vs 13.0%, a 3.5% gap on every dollar of revenue.
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
Hilltop Holdings Inc. is a financial holding company based in Dallas, Texas. It offers financial products and banking services through three primary subsidiaries: PlainsCapital Bank, PrimeLending, and HilltopSecurities.
DLO vs HTH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $300.5M |
| Net Profit | $55.6M | $39.0M |
| Gross Margin | 34.3% | — |
| Operating Margin | 18.6% | — |
| Net Margin | 16.5% | 13.0% |
| Revenue YoY | 65.2% | — |
| Net Profit YoY | 87.3% | -12.4% |
| EPS (diluted) | $0.18 | $0.64 |
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.
| Q1 26 | — | $300.5M | ||
| Q4 25 | $337.9M | $329.9M | ||
| Q3 25 | $282.5M | $330.2M | ||
| Q2 25 | — | $303.3M | ||
| Q1 25 | — | $318.5M | ||
| Q4 24 | $204.5M | $301.1M | ||
| Q3 24 | $185.8M | $305.5M | ||
| Q2 24 | — | $297.0M |
| Q1 26 | — | $39.0M | ||
| Q4 25 | $55.6M | $41.6M | ||
| Q3 25 | $141.3M | $45.8M | ||
| Q2 25 | — | $36.1M | ||
| Q1 25 | — | $42.1M | ||
| Q4 24 | $29.7M | $35.5M | ||
| Q3 24 | $90.8M | $29.7M | ||
| Q2 24 | — | $20.3M |
| Q1 26 | — | — | ||
| Q4 25 | 34.3% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 18.6% | 16.1% | ||
| Q3 25 | 19.7% | 18.4% | ||
| Q2 25 | — | 16.3% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | 20.7% | 14.7% | ||
| Q3 24 | 22.1% | 13.9% | ||
| Q2 24 | — | 10.0% |
| Q1 26 | — | 13.0% | ||
| Q4 25 | 16.5% | 12.6% | ||
| Q3 25 | 50.0% | 13.9% | ||
| Q2 25 | — | 11.9% | ||
| Q1 25 | — | 13.2% | ||
| Q4 24 | 14.5% | 11.8% | ||
| Q3 24 | 48.9% | 9.7% | ||
| Q2 24 | — | 6.8% |
| Q1 26 | — | $0.64 | ||
| Q4 25 | $0.18 | $0.68 | ||
| Q3 25 | $0.17 | $0.74 | ||
| Q2 25 | — | $0.57 | ||
| Q1 25 | — | $0.65 | ||
| Q4 24 | $0.09 | $0.55 | ||
| Q3 24 | $0.09 | $0.46 | ||
| Q2 24 | — | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $719.9M | — |
| Total DebtLower is stronger | $86.7M | $990.8M |
| Stockholders' EquityBook value | $569.4M | $2.2B |
| Total Assets | $1.5B | $15.7B |
| Debt / EquityLower = less leverage | 0.15× | 0.46× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $719.9M | — | ||
| Q3 25 | $604.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $425.2M | — | ||
| Q3 24 | $560.5M | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $990.8M | ||
| Q4 25 | $86.7M | — | ||
| Q3 25 | $63.1M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $39.8M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $569.4M | $2.2B | ||
| Q3 25 | $504.7M | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | $489.0M | $2.2B | ||
| Q3 24 | $457.0M | $2.2B | ||
| Q2 24 | — | $2.1B |
| Q1 26 | — | $15.7B | ||
| Q4 25 | $1.5B | $15.8B | ||
| Q3 25 | $1.4B | $15.6B | ||
| Q2 25 | — | $15.4B | ||
| Q1 25 | — | $15.8B | ||
| Q4 24 | $1.2B | $16.3B | ||
| Q3 24 | — | $15.9B | ||
| Q2 24 | — | $15.6B |
| Q1 26 | — | 0.46× | ||
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $100.4M | — |
| Free Cash FlowOCF − Capex | $99.8M | — |
| FCF MarginFCF / Revenue | 29.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 1.80× | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $100.4M | $-38.7M | ||
| Q3 25 | $315.0M | $273.0M | ||
| Q2 25 | — | $-234.6M | ||
| Q1 25 | — | $5.8M | ||
| Q4 24 | $-141.1M | $273.9M | ||
| Q3 24 | $108.3M | $515.6M | ||
| Q2 24 | — | $-435.3M |
| Q1 26 | — | — | ||
| Q4 25 | $99.8M | $-55.5M | ||
| Q3 25 | $313.4M | $271.0M | ||
| Q2 25 | — | $-234.6M | ||
| Q1 25 | — | $5.0M | ||
| Q4 24 | $-141.6M | $266.8M | ||
| Q3 24 | $107.1M | $513.8M | ||
| Q2 24 | — | $-437.3M |
| Q1 26 | — | — | ||
| Q4 25 | 29.5% | -16.8% | ||
| Q3 25 | 110.9% | 82.1% | ||
| Q2 25 | — | -77.4% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | -69.2% | 88.6% | ||
| Q3 24 | 57.6% | 168.2% | ||
| Q2 24 | — | -147.2% |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 5.1% | ||
| Q3 25 | 0.6% | 0.6% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | 0.2% | 2.4% | ||
| Q3 24 | 0.7% | 0.6% | ||
| Q2 24 | — | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | -0.93× | ||
| Q3 25 | 2.23× | 5.96× | ||
| Q2 25 | — | -6.50× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | -4.75× | 7.71× | ||
| Q3 24 | 1.19× | 17.36× | ||
| Q2 24 | — | -21.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLO
Segment breakdown not available.
HTH
| Noninterest Income | $188.4M | 63% |
| Net Interest Income | $112.1M | 37% |
