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Side-by-side financial comparison of DELUXE CORP (DLX) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
Global Business Travel Group, Inc. is the larger business by last-quarter revenue ($792.0M vs $535.2M, roughly 1.5× DELUXE CORP). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 2.2%, a 8.2% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 2.8%). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 0.0%).
Deluxe Corporation is an American company that provides payment processing, data services, checks and promotional products, and merchant services. It operates in four divisions: B2B payments, data, print, and merchant services. As of 2025, the company serves millions of small businesses and thousands of financial institutions, processing more than $2.8 trillion in payments annually. While its legacy business centers on check printing and other printed products, payments and data services now ...
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
DLX vs GBTG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $535.2M | $792.0M |
| Net Profit | $12.0M | $83.0M |
| Gross Margin | 52.2% | — |
| Operating Margin | 8.9% | 3.7% |
| Net Margin | 2.2% | 10.5% |
| Revenue YoY | 2.8% | 34.0% |
| Net Profit YoY | -5.0% | 692.9% |
| EPS (diluted) | $0.25 | $0.16 |
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 | $535.2M | $792.0M | ||
| Q3 25 | $540.2M | $674.0M | ||
| Q2 25 | $521.3M | $631.0M | ||
| Q1 25 | $536.5M | $621.0M | ||
| Q4 24 | $520.6M | $591.0M | ||
| Q3 24 | $528.4M | $597.0M | ||
| Q2 24 | $537.8M | $625.0M | ||
| Q1 24 | $535.0M | $610.0M |
| Q4 25 | $12.0M | $83.0M | ||
| Q3 25 | $33.7M | $-62.0M | ||
| Q2 25 | $22.4M | $15.0M | ||
| Q1 25 | $14.0M | $75.0M | ||
| Q4 24 | $12.6M | $-14.0M | ||
| Q3 24 | $8.9M | $-128.0M | ||
| Q2 24 | $20.5M | $27.0M | ||
| Q1 24 | $10.8M | $-19.0M |
| Q4 25 | 52.2% | — | ||
| Q3 25 | 53.9% | — | ||
| Q2 25 | 53.6% | — | ||
| Q1 25 | 52.4% | — | ||
| Q4 24 | 52.3% | — | ||
| Q3 24 | 53.3% | — | ||
| Q2 24 | 53.7% | — | ||
| Q1 24 | 53.0% | — |
| Q4 25 | 8.9% | 3.7% | ||
| Q3 25 | 14.0% | 1.8% | ||
| Q2 25 | 11.7% | 5.4% | ||
| Q1 25 | 9.0% | 8.9% | ||
| Q4 24 | 9.0% | 5.1% | ||
| Q3 24 | 7.9% | 4.5% | ||
| Q2 24 | 11.0% | 6.7% | ||
| Q1 24 | 8.3% | 2.6% |
| Q4 25 | 2.2% | 10.5% | ||
| Q3 25 | 6.2% | -9.2% | ||
| Q2 25 | 4.3% | 2.4% | ||
| Q1 25 | 2.6% | 12.1% | ||
| Q4 24 | 2.4% | -2.4% | ||
| Q3 24 | 1.7% | -21.4% | ||
| Q2 24 | 3.8% | 4.3% | ||
| Q1 24 | 2.0% | -3.1% |
| Q4 25 | $0.25 | $0.16 | ||
| Q3 25 | $0.74 | $-0.13 | ||
| Q2 25 | $0.50 | $0.03 | ||
| Q1 25 | $0.31 | $0.16 | ||
| Q4 24 | $0.28 | $-0.04 | ||
| Q3 24 | $0.20 | $-0.28 | ||
| Q2 24 | $0.46 | $0.06 | ||
| Q1 24 | $0.24 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.9M | $434.0M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $680.7M | $1.6B |
| Total Assets | $2.9B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.9M | $434.0M | ||
| Q3 25 | $25.8M | $427.0M | ||
| Q2 25 | $26.0M | $601.0M | ||
| Q1 25 | $30.3M | $552.0M | ||
| Q4 24 | $34.4M | $536.0M | ||
| Q3 24 | $41.3M | $524.0M | ||
| Q2 24 | $23.1M | $515.0M | ||
| Q1 24 | $23.5M | $475.0M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $680.7M | $1.6B | ||
| Q3 25 | $664.1M | $1.5B | ||
| Q2 25 | $638.7M | $1.2B | ||
| Q1 25 | $622.5M | $1.1B | ||
| Q4 24 | $620.9M | $1.1B | ||
| Q3 24 | $612.7M | $1.1B | ||
| Q2 24 | $620.5M | $1.2B | ||
| Q1 24 | $608.4M | $1.2B |
| Q4 25 | $2.9B | $4.9B | ||
| Q3 25 | $2.6B | $4.8B | ||
| Q2 25 | $2.5B | $3.9B | ||
| Q1 25 | $2.6B | $3.8B | ||
| Q4 24 | $2.8B | $3.6B | ||
| Q3 24 | $2.6B | $3.8B | ||
| Q2 24 | $2.7B | $3.8B | ||
| Q1 24 | $2.7B | $3.8B |
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.26× | ||
| 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 | $102.1M | $52.0M |
| Free Cash FlowOCF − Capex | — | $13.0M |
| FCF MarginFCF / Revenue | — | 1.6% |
| Capex IntensityCapex / Revenue | — | 4.9% |
| Cash ConversionOCF / Net Profit | 8.53× | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | — | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $102.1M | $52.0M | ||
| Q3 25 | $67.1M | $71.0M | ||
| Q2 25 | $51.1M | $57.0M | ||
| Q1 25 | $50.3M | $53.0M | ||
| Q4 24 | $60.2M | $65.0M | ||
| Q3 24 | $67.9M | $85.0M | ||
| Q2 24 | $39.6M | $73.0M | ||
| Q1 24 | $26.6M | $49.0M |
| Q4 25 | — | $13.0M | ||
| Q3 25 | — | $38.0M | ||
| Q2 25 | $27.8M | $27.0M | ||
| Q1 25 | $24.3M | $26.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | $46.7M | $59.0M | ||
| Q2 24 | $11.4M | $49.0M | ||
| Q1 24 | $6.1M | $24.0M |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | 5.3% | 4.3% | ||
| Q1 25 | 4.5% | 4.2% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | 8.8% | 9.9% | ||
| Q2 24 | 2.1% | 7.8% | ||
| Q1 24 | 1.1% | 3.9% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | 4.5% | 4.8% | ||
| Q1 25 | 4.8% | 4.3% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | 4.0% | 4.4% | ||
| Q2 24 | 5.2% | 3.8% | ||
| Q1 24 | 3.8% | 4.1% |
| Q4 25 | 8.53× | 0.63× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.28× | 3.80× | ||
| Q1 25 | 3.59× | 0.71× | ||
| Q4 24 | 4.77× | — | ||
| Q3 24 | 7.60× | — | ||
| Q2 24 | 1.94× | 2.70× | ||
| Q1 24 | 2.46× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLX
| Services | $247.9M | 46% |
| B2B Payments | $76.3M | 14% |
| Datadrivenmarketingsolutions | $68.5M | 13% |
| Promotional Solutions Revenue | $60.9M | 11% |
| Treasurymanagementsolutions | $59.8M | 11% |
| Other | $17.3M | 3% |
| Other Web Based Solutions | $4.6M | 1% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
