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Side-by-side financial comparison of DESCARTES SYSTEMS GROUP INC (DSGX) and GCM Grosvenor Inc. (GCMG). Click either name above to swap in a different company.
DESCARTES SYSTEMS GROUP INC is the larger business by last-quarter revenue ($179.8M vs $177.1M, roughly 1.0× GCM Grosvenor Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs 21.1%, a 11.7% gap on every dollar of revenue. GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $62.1M).
The Descartes Systems Group Inc. is a Canadian multinational technology company specializing in logistics software, supply chain management software, and cloud-based services for logistics businesses.
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
DSGX vs GCMG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.8M | $177.1M |
| Net Profit | $38.0M | $58.2M |
| Gross Margin | 76.9% | — |
| Operating Margin | 26.8% | 30.9% |
| Net Margin | 21.1% | 32.8% |
| Revenue YoY | — | 7.2% |
| Net Profit YoY | — | 149.2% |
| EPS (diluted) | $0.43 | $0.23 |
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 | — | $177.1M | ||
| Q3 25 | $179.8M | $135.0M | ||
| Q2 25 | — | $119.7M | ||
| Q1 25 | — | $125.8M | ||
| Q4 24 | — | $165.3M | ||
| Q3 24 | $163.4M | $122.9M | ||
| Q2 24 | — | $117.0M | ||
| Q1 24 | — | $108.9M |
| Q4 25 | — | $58.2M | ||
| Q3 25 | $38.0M | $10.5M | ||
| Q2 25 | — | $15.4M | ||
| Q1 25 | — | $463.0K | ||
| Q4 24 | — | $7.6M | ||
| Q3 24 | $34.7M | $4.2M | ||
| Q2 24 | — | $4.8M | ||
| Q1 24 | — | $2.1M |
| Q4 25 | — | — | ||
| Q3 25 | 76.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 30.9% | ||
| Q3 25 | 26.8% | 32.7% | ||
| Q2 25 | — | 16.1% | ||
| Q1 25 | — | 12.2% | ||
| Q4 24 | — | 26.4% | ||
| Q3 24 | 28.1% | 20.3% | ||
| Q2 24 | — | 17.8% | ||
| Q1 24 | — | -14.7% |
| Q4 25 | — | 32.8% | ||
| Q3 25 | 21.1% | 7.8% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | 21.2% | 3.4% | ||
| Q2 24 | — | 4.1% | ||
| Q1 24 | — | 2.0% |
| Q4 25 | — | $0.23 | ||
| Q3 25 | $0.43 | $0.16 | ||
| Q2 25 | — | $0.05 | ||
| Q1 25 | — | $-0.02 | ||
| Q4 24 | — | $0.09 | ||
| Q3 24 | $0.40 | $0.03 | ||
| Q2 24 | — | $0.04 | ||
| Q1 24 | — | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $240.6M | $242.1M |
| Total DebtLower is stronger | — | $428.4M |
| Stockholders' EquityBook value | $1.5B | $27.0M |
| Total Assets | $1.8B | $813.8M |
| Debt / EquityLower = less leverage | — | 15.87× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $242.1M | ||
| Q3 25 | $240.6M | $182.7M | ||
| Q2 25 | — | $136.3M | ||
| Q1 25 | — | $94.5M | ||
| Q4 24 | — | $89.5M | ||
| Q3 24 | $252.7M | $98.4M | ||
| Q2 24 | — | $73.9M | ||
| Q1 24 | — | $41.9M |
| Q4 25 | — | $428.4M | ||
| Q3 25 | — | $429.3M | ||
| Q2 25 | — | $430.2M | ||
| Q1 25 | — | $431.1M | ||
| Q4 24 | — | $432.0M | ||
| Q3 24 | — | $432.9M | ||
| Q2 24 | — | $433.8M | ||
| Q1 24 | — | $384.0M |
| Q4 25 | — | $27.0M | ||
| Q3 25 | $1.5B | $-7.4M | ||
| Q2 25 | — | $-12.3M | ||
| Q1 25 | — | $-28.3M | ||
| Q4 24 | — | $-27.6M | ||
| Q3 24 | $1.3B | $-31.9M | ||
| Q2 24 | — | $-28.5M | ||
| Q1 24 | — | $-26.4M |
| Q4 25 | — | $813.8M | ||
| Q3 25 | $1.8B | $685.9M | ||
| Q2 25 | — | $636.9M | ||
| Q1 25 | — | $579.8M | ||
| Q4 24 | — | $612.7M | ||
| Q3 24 | $1.6B | $575.0M | ||
| Q2 24 | — | $543.9M | ||
| Q1 24 | — | $497.3M |
| Q4 25 | — | 15.87× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $63.3M | $183.5M |
| Free Cash FlowOCF − Capex | $62.1M | $175.0M |
| FCF MarginFCF / Revenue | 34.5% | 98.8% |
| Capex IntensityCapex / Revenue | 0.7% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.67× | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | $189.6M | $326.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $183.5M | ||
| Q3 25 | $63.3M | $79.8M | ||
| Q2 25 | — | $42.0M | ||
| Q1 25 | — | $33.3M | ||
| Q4 24 | — | $148.8M | ||
| Q3 24 | $34.7M | $69.0M | ||
| Q2 24 | — | $17.5M | ||
| Q1 24 | — | $24.2M |
| Q4 25 | — | $175.0M | ||
| Q3 25 | $62.1M | $78.3M | ||
| Q2 25 | — | $40.8M | ||
| Q1 25 | — | $32.1M | ||
| Q4 24 | — | $132.0M | ||
| Q3 24 | $33.1M | $62.2M | ||
| Q2 24 | — | $12.8M | ||
| Q1 24 | — | $20.0M |
| Q4 25 | — | 98.8% | ||
| Q3 25 | 34.5% | 58.0% | ||
| Q2 25 | — | 34.1% | ||
| Q1 25 | — | 25.5% | ||
| Q4 24 | — | 79.9% | ||
| Q3 24 | 20.2% | 50.6% | ||
| Q2 24 | — | 10.9% | ||
| Q1 24 | — | 18.4% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | 0.7% | 1.1% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | 1.0% | 5.5% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | — | 3.9% |
| Q4 25 | — | 3.16× | ||
| Q3 25 | 1.67× | 7.61× | ||
| Q2 25 | — | 2.72× | ||
| Q1 25 | — | 71.84× | ||
| Q4 24 | — | 19.54× | ||
| Q3 24 | 1.00× | 16.60× | ||
| Q2 24 | — | 3.64× | ||
| Q1 24 | — | 11.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DSGX
Segment breakdown not available.
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
