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Side-by-side financial comparison of dLocal Ltd (DLO) and Western Union CO (WU). Click either name above to swap in a different company.
Western Union CO is the larger business by last-quarter revenue ($982.7M vs $337.9M, roughly 2.9× dLocal Ltd). dLocal Ltd runs the higher net margin — 16.5% vs 6.6%, a 9.9% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 0.0%).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
The Western Union Company is an American multinational financial services corporation headquartered in Denver, Colorado.
DLO vs WU — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $982.7M |
| Net Profit | $55.6M | $64.7M |
| Gross Margin | 34.3% | — |
| Operating Margin | 18.6% | 12.5% |
| Net Margin | 16.5% | 6.6% |
| Revenue YoY | 65.2% | 0.0% |
| Net Profit YoY | 87.3% | -47.6% |
| 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.
| Q1 26 | — | $982.7M | ||
| Q4 25 | $337.9M | $972.0M | ||
| Q3 25 | $282.5M | $985.3M | ||
| Q2 25 | — | $983.6M | ||
| Q1 25 | — | $938.7M | ||
| Q4 24 | $204.5M | $1.0B | ||
| Q3 24 | $185.8M | $993.4M | ||
| Q2 24 | — | $1.0B |
| Q1 26 | — | $64.7M | ||
| Q4 25 | $55.6M | $114.4M | ||
| Q3 25 | $141.3M | $139.6M | ||
| Q2 25 | — | $122.1M | ||
| Q1 25 | — | $123.5M | ||
| Q4 24 | $29.7M | $385.7M | ||
| Q3 24 | $90.8M | $264.8M | ||
| Q2 24 | — | $141.0M |
| Q1 26 | — | — | ||
| Q4 25 | 34.3% | 33.6% | ||
| Q3 25 | 36.5% | 34.7% | ||
| Q2 25 | — | 34.6% | ||
| Q1 25 | — | 34.0% | ||
| Q4 24 | 40.9% | 35.0% | ||
| Q3 24 | 42.1% | 34.2% | ||
| Q2 24 | — | 35.0% |
| Q1 26 | — | 12.5% | ||
| Q4 25 | 18.6% | 19.1% | ||
| Q3 25 | 19.7% | 20.5% | ||
| Q2 25 | — | 19.6% | ||
| Q1 25 | — | 18.9% | ||
| Q4 24 | 20.7% | 17.5% | ||
| Q3 24 | 22.1% | 16.6% | ||
| Q2 24 | — | 18.7% |
| Q1 26 | — | 6.6% | ||
| Q4 25 | 16.5% | 11.8% | ||
| Q3 25 | 50.0% | 14.2% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | — | 13.2% | ||
| Q4 24 | 14.5% | 37.9% | ||
| Q3 24 | 48.9% | 26.7% | ||
| Q2 24 | — | 13.8% |
| Q1 26 | — | $0.41 | ||
| Q4 25 | $0.18 | $0.36 | ||
| Q3 25 | $0.17 | $0.43 | ||
| Q2 25 | — | $0.37 | ||
| Q1 25 | — | $0.36 | ||
| Q4 24 | $0.09 | $1.14 | ||
| Q3 24 | $0.09 | $0.78 | ||
| Q2 24 | — | $0.41 |
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 | $909.2M |
| Total DebtLower is stronger | $86.7M | — |
| Stockholders' EquityBook value | $569.4M | $910.5M |
| Total Assets | $1.5B | $8.1B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $909.2M | ||
| Q4 25 | $719.9M | $1.2B | ||
| Q3 25 | $604.5M | $947.8M | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $425.2M | $1.5B | ||
| Q3 24 | $560.5M | $1.1B | ||
| Q2 24 | — | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | $86.7M | $2.9B | ||
| Q3 25 | $63.1M | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $39.8M | $3.0B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.1B |
| Q1 26 | — | $910.5M | ||
| Q4 25 | $569.4M | $957.8M | ||
| Q3 25 | $504.7M | $925.4M | ||
| Q2 25 | — | $883.6M | ||
| Q1 25 | — | $939.4M | ||
| Q4 24 | $489.0M | $968.9M | ||
| Q3 24 | $457.0M | $652.7M | ||
| Q2 24 | — | $440.8M |
| Q1 26 | — | $8.1B | ||
| Q4 25 | $1.5B | $8.3B | ||
| Q3 25 | $1.4B | $7.8B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $8.3B | ||
| Q4 24 | $1.2B | $8.4B | ||
| Q3 24 | — | $7.7B | ||
| Q2 24 | — | $8.0B |
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | 3.01× | ||
| Q3 25 | 0.12× | 2.70× | ||
| Q2 25 | — | 2.83× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | 0.08× | 3.04× | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 4.88× |
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 | $109.0M |
| Free Cash FlowOCF − Capex | $99.8M | — |
| FCF MarginFCF / Revenue | 29.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.80× | 1.68× |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $109.0M | ||
| Q4 25 | $100.4M | $135.4M | ||
| Q3 25 | $315.0M | $260.4M | ||
| Q2 25 | — | $-300.0K | ||
| Q1 25 | — | $148.2M | ||
| Q4 24 | $-141.1M | $134.0M | ||
| Q3 24 | $108.3M | $212.1M | ||
| Q2 24 | — | $-33.8M |
| Q1 26 | — | — | ||
| Q4 25 | $99.8M | $115.5M | ||
| Q3 25 | $313.4M | $252.7M | ||
| Q2 25 | — | $-7.8M | ||
| Q1 25 | — | $144.8M | ||
| Q4 24 | $-141.6M | $119.7M | ||
| Q3 24 | $107.1M | $205.1M | ||
| Q2 24 | — | $-38.9M |
| Q1 26 | — | — | ||
| Q4 25 | 29.5% | 11.9% | ||
| Q3 25 | 110.9% | 25.6% | ||
| Q2 25 | — | -0.8% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | -69.2% | 11.8% | ||
| Q3 24 | 57.6% | 20.6% | ||
| Q2 24 | — | -3.8% |
| Q1 26 | — | 4.8% | ||
| Q4 25 | 0.2% | 2.0% | ||
| Q3 25 | 0.6% | 0.8% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 0.2% | 1.4% | ||
| Q3 24 | 0.7% | 0.7% | ||
| Q2 24 | — | 0.5% |
| Q1 26 | — | 1.68× | ||
| Q4 25 | 1.80× | 1.18× | ||
| Q3 25 | 2.23× | 1.87× | ||
| Q2 25 | — | -0.00× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | -4.75× | 0.35× | ||
| Q3 24 | 1.19× | 0.80× | ||
| Q2 24 | — | -0.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
