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Side-by-side financial comparison of Distribution Solutions Group, Inc. (DSGR) and IES Holdings, Inc. (IESC). Click either name above to swap in a different company.
IES Holdings, Inc. is the larger business by last-quarter revenue ($871.0M vs $518.0M, roughly 1.7× Distribution Solutions Group, Inc.). IES Holdings, Inc. runs the higher net margin — 10.5% vs 1.2%, a 9.3% gap on every dollar of revenue. On growth, IES Holdings, Inc. posted the faster year-over-year revenue change (16.2% vs 10.7%). Distribution Solutions Group, Inc. produced more free cash flow last quarter ($32.9M vs $-18.9M). Over the past eight quarters, Distribution Solutions Group, Inc.'s revenue compounded faster (13.1% CAGR vs 11.1%).
Univar Solutions Inc. is a global chemical and ingredients distributor and provider of value-added services.
IES Holdings, Inc., formerly known as Integrated Electrical Services, Inc., designs and installs integrated electrical and technology systems and provides infrastructure products and services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities.
DSGR vs IESC — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $518.0M | $871.0M |
| Net Profit | $6.5M | $91.8M |
| Gross Margin | 32.9% | 25.3% |
| Operating Margin | 4.6% | 11.2% |
| Net Margin | 1.2% | 10.5% |
| Revenue YoY | 10.7% | 16.2% |
| Net Profit YoY | -70.6% | 59.1% |
| EPS (diluted) | $0.14 | $4.51 |
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 | — | $871.0M | ||
| Q3 25 | $518.0M | $897.8M | ||
| Q2 25 | $502.4M | $890.2M | ||
| Q1 25 | $478.0M | $834.0M | ||
| Q4 24 | $480.5M | $749.5M | ||
| Q3 24 | $468.0M | $775.8M | ||
| Q2 24 | $439.5M | $768.4M | ||
| Q1 24 | $416.1M | $705.7M |
| Q4 25 | — | $91.8M | ||
| Q3 25 | $6.5M | $102.3M | ||
| Q2 25 | $5.0M | $79.3M | ||
| Q1 25 | $3.3M | $72.6M | ||
| Q4 24 | $-25.9M | $57.7M | ||
| Q3 24 | $21.9M | $65.5M | ||
| Q2 24 | $1.9M | $66.6M | ||
| Q1 24 | $-5.2M | $56.8M |
| Q4 25 | — | 25.3% | ||
| Q3 25 | 32.9% | 26.0% | ||
| Q2 25 | 33.9% | 26.9% | ||
| Q1 25 | 34.3% | 25.0% | ||
| Q4 24 | 33.3% | 23.8% | ||
| Q3 24 | 33.9% | 24.0% | ||
| Q2 24 | 34.5% | 25.3% | ||
| Q1 24 | 34.5% | 24.3% |
| Q4 25 | — | 11.2% | ||
| Q3 25 | 4.6% | 11.6% | ||
| Q2 25 | 5.3% | 12.6% | ||
| Q1 25 | 4.2% | 11.1% | ||
| Q4 24 | 4.2% | 10.0% | ||
| Q3 24 | 4.0% | 9.7% | ||
| Q2 24 | 3.2% | 11.7% | ||
| Q1 24 | 0.7% | 11.0% |
| Q4 25 | — | 10.5% | ||
| Q3 25 | 1.2% | 11.4% | ||
| Q2 25 | 1.0% | 8.9% | ||
| Q1 25 | 0.7% | 8.7% | ||
| Q4 24 | -5.4% | 7.7% | ||
| Q3 24 | 4.7% | 8.4% | ||
| Q2 24 | 0.4% | 8.7% | ||
| Q1 24 | -1.3% | 8.0% |
| Q4 25 | — | $4.51 | ||
| Q3 25 | $0.14 | $4.99 | ||
| Q2 25 | $0.11 | $3.81 | ||
| Q1 25 | $0.07 | $3.50 | ||
| Q4 24 | $-0.55 | $2.72 | ||
| Q3 24 | $0.46 | $3.06 | ||
| Q2 24 | $0.04 | $2.67 | ||
| Q1 24 | $-0.11 | $2.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $69.2M | $258.7M |
| Total DebtLower is stronger | $665.5M | — |
| Stockholders' EquityBook value | $653.9M | $961.1M |
| Total Assets | $1.8B | $1.7B |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $258.7M | ||
| Q3 25 | $69.2M | $231.8M | ||
| Q2 25 | $47.4M | $168.3M | ||
| Q1 25 | $65.4M | $88.3M | ||
| Q4 24 | $66.5M | $112.0M | ||
| Q3 24 | $61.3M | $135.8M | ||
| Q2 24 | $46.8M | $44.9M | ||
| Q1 24 | $73.1M | $106.0M |
| Q4 25 | — | — | ||
| Q3 25 | $665.5M | — | ||
| Q2 25 | $675.0M | — | ||
| Q1 25 | $712.4M | — | ||
| Q4 24 | $693.9M | — | ||
| Q3 24 | $704.1M | — | ||
| Q2 24 | $573.7M | — | ||
| Q1 24 | $535.7M | — |
| Q4 25 | — | $961.1M | ||
| Q3 25 | $653.9M | $884.0M | ||
| Q2 25 | $649.4M | $781.4M | ||
| Q1 25 | $636.7M | $705.8M | ||
| Q4 24 | $640.5M | $652.4M | ||
| Q3 24 | $680.8M | $611.1M | ||
| Q2 24 | $653.3M | $567.5M | ||
| Q1 24 | $654.7M | $534.8M |
| Q4 25 | — | $1.7B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $1.8B | $1.5B | ||
| Q1 25 | $1.8B | $1.4B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.5B | $1.1B |
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.12× | — | ||
| Q4 24 | 1.08× | — | ||
| Q3 24 | 1.03× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.82× | — |
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 | $38.4M | $27.7M |
| Free Cash FlowOCF − Capex | $32.9M | $-18.9M |
| FCF MarginFCF / Revenue | 6.3% | -2.2% |
| Capex IntensityCapex / Revenue | 1.1% | 5.3% |
| Cash ConversionOCF / Net Profit | 5.95× | 0.30× |
| TTM Free Cash FlowTrailing 4 quarters | $92.2M | $175.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $27.7M | ||
| Q3 25 | $38.4M | $132.0M | ||
| Q2 25 | $33.3M | $92.0M | ||
| Q1 25 | $-4.8M | $24.8M | ||
| Q4 24 | $45.7M | $37.3M | ||
| Q3 24 | $-17.3M | $92.8M | ||
| Q2 24 | $21.4M | $82.9M | ||
| Q1 24 | $6.6M | $33.7M |
| Q4 25 | — | $-18.9M | ||
| Q3 25 | $32.9M | $112.0M | ||
| Q2 25 | $28.7M | $74.8M | ||
| Q1 25 | $-10.4M | $7.9M | ||
| Q4 24 | $41.1M | $24.1M | ||
| Q3 24 | $-20.5M | $78.5M | ||
| Q2 24 | $18.0M | $65.4M | ||
| Q1 24 | $4.2M | $26.9M |
| Q4 25 | — | -2.2% | ||
| Q3 25 | 6.3% | 12.5% | ||
| Q2 25 | 5.7% | 8.4% | ||
| Q1 25 | -2.2% | 0.9% | ||
| Q4 24 | 8.6% | 3.2% | ||
| Q3 24 | -4.4% | 10.1% | ||
| Q2 24 | 4.1% | 8.5% | ||
| Q1 24 | 1.0% | 3.8% |
| Q4 25 | — | 5.3% | ||
| Q3 25 | 1.1% | 2.2% | ||
| Q2 25 | 0.9% | 1.9% | ||
| Q1 25 | 1.2% | 2.0% | ||
| Q4 24 | 1.0% | 1.8% | ||
| Q3 24 | 0.7% | 1.8% | ||
| Q2 24 | 0.8% | 2.3% | ||
| Q1 24 | 0.6% | 1.0% |
| Q4 25 | — | 0.30× | ||
| Q3 25 | 5.95× | 1.29× | ||
| Q2 25 | 6.66× | 1.16× | ||
| Q1 25 | -1.46× | 0.34× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | -0.79× | 1.42× | ||
| Q2 24 | 11.28× | 1.24× | ||
| Q1 24 | — | 0.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DSGR
| Test Equity Segment | $206.5M | 40% |
| Gexpro Services Segment | $130.5M | 25% |
| Lawson Segment | $121.5M | 23% |
| Canada Branch Division Segment | $60.0M | 12% |
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
