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Side-by-side financial comparison of dLocal Ltd (DLO) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M vs $337.9M, roughly 1.0× dLocal Ltd). dLocal Ltd runs the higher net margin — 16.5% vs -12.9%, a 29.4% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs -0.4%). dLocal Ltd produced more free cash flow last quarter ($99.8M vs $-680.1M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
DLO vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $340.0M |
| Net Profit | $55.6M | $-13.9M |
| Gross Margin | 34.3% | — |
| Operating Margin | 18.6% | -17.2% |
| Net Margin | 16.5% | -12.9% |
| Revenue YoY | 65.2% | -0.4% |
| Net Profit YoY | 87.3% | -131.0% |
| EPS (diluted) | $0.18 | $-0.41 |
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 | $337.9M | $340.0M | ||
| Q3 25 | $282.5M | $337.7M | ||
| Q2 25 | — | $319.2M | ||
| Q1 25 | — | $237.4M | ||
| Q4 24 | $204.5M | $341.5M | ||
| Q3 24 | $185.8M | $292.3M | ||
| Q2 24 | — | $270.7M | ||
| Q1 24 | — | $228.1M |
| Q4 25 | $55.6M | $-13.9M | ||
| Q3 25 | $141.3M | $33.5M | ||
| Q2 25 | — | $34.0M | ||
| Q1 25 | — | $2.8M | ||
| Q4 24 | $29.7M | $44.8M | ||
| Q3 24 | $90.8M | $28.8M | ||
| Q2 24 | — | $22.7M | ||
| Q1 24 | — | $11.9M |
| Q4 25 | 34.3% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 18.6% | -17.2% | ||
| Q3 25 | 19.7% | 13.6% | ||
| Q2 25 | — | 14.5% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 20.7% | 15.3% | ||
| Q3 24 | 22.1% | 12.8% | ||
| Q2 24 | — | 10.4% | ||
| Q1 24 | — | 6.0% |
| Q4 25 | 16.5% | -12.9% | ||
| Q3 25 | 50.0% | 9.9% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | 14.5% | 13.1% | ||
| Q3 24 | 48.9% | 9.9% | ||
| Q2 24 | — | 8.4% | ||
| Q1 24 | — | 5.2% |
| Q4 25 | $0.18 | $-0.41 | ||
| Q3 25 | $0.17 | $0.98 | ||
| Q2 25 | — | $0.99 | ||
| Q1 25 | — | $0.08 | ||
| Q4 24 | $0.09 | $1.32 | ||
| Q3 24 | $0.09 | $0.85 | ||
| Q2 24 | — | $0.67 | ||
| Q1 24 | — | $0.35 |
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 | $299.3M |
| Total DebtLower is stronger | $86.7M | — |
| Stockholders' EquityBook value | $569.4M | $1.7B |
| Total Assets | $1.5B | $5.1B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $299.3M | ||
| Q3 25 | $604.5M | $274.8M | ||
| Q2 25 | — | $233.7M | ||
| Q1 25 | — | $181.0M | ||
| Q4 24 | $425.2M | $279.3M | ||
| Q3 24 | $560.5M | $179.8M | ||
| Q2 24 | — | $208.1M | ||
| Q1 24 | — | $216.5M |
| Q4 25 | $86.7M | — | ||
| Q3 25 | $63.1M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $39.8M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $569.4M | $1.7B | ||
| Q3 25 | $504.7M | $1.8B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $489.0M | $1.7B | ||
| Q3 24 | $457.0M | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.7B |
| Q4 25 | $1.5B | $5.1B | ||
| Q3 25 | $1.4B | $5.8B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | $1.2B | $4.4B | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $3.8B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.08× | — | ||
| 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 | $100.4M | $-664.3M |
| Free Cash FlowOCF − Capex | $99.8M | $-680.1M |
| FCF MarginFCF / Revenue | 29.5% | -200.0% |
| Capex IntensityCapex / Revenue | 0.2% | 4.6% |
| Cash ConversionOCF / Net Profit | 1.80× | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | $-664.3M | ||
| Q3 25 | $315.0M | $-948.1M | ||
| Q2 25 | — | $-238.5M | ||
| Q1 25 | — | $-281.1M | ||
| Q4 24 | $-141.1M | $129.4M | ||
| Q3 24 | $108.3M | $-202.0M | ||
| Q2 24 | — | $-237.8M | ||
| Q1 24 | — | $38.4M |
| Q4 25 | $99.8M | $-680.1M | ||
| Q3 25 | $313.4M | $-950.4M | ||
| Q2 25 | — | $-241.0M | ||
| Q1 25 | — | $-284.7M | ||
| Q4 24 | $-141.6M | $116.4M | ||
| Q3 24 | $107.1M | $-204.0M | ||
| Q2 24 | — | $-241.7M | ||
| Q1 24 | — | $35.2M |
| Q4 25 | 29.5% | -200.0% | ||
| Q3 25 | 110.9% | -281.5% | ||
| Q2 25 | — | -75.5% | ||
| Q1 25 | — | -120.0% | ||
| Q4 24 | -69.2% | 34.1% | ||
| Q3 24 | 57.6% | -69.8% | ||
| Q2 24 | — | -89.3% | ||
| Q1 24 | — | 15.4% |
| Q4 25 | 0.2% | 4.6% | ||
| Q3 25 | 0.6% | 0.7% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | 0.2% | 3.8% | ||
| Q3 24 | 0.7% | 0.7% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | 1.80× | — | ||
| Q3 25 | 2.23× | -28.34× | ||
| Q2 25 | — | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | -4.75× | 2.89× | ||
| Q3 24 | 1.19× | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | — | 3.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
