NASDAQ : DSGX
The Descartes Systems Group Inc. — Financial statements
Technology · Software - Application · Canada
Last price 92.03 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 7.88B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
The Descartes Systems Group Inc. (DSGX) reported revenue of 775.17M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 775.17M | 728.99M | 651.00M | 572.93M | 486.01M | 424.69M |
| Cost of Revenue | 173.57M | 167.06M | 158.57M | 138.29M | 113.33M | 101.81M |
| Gross Profit | 601.59M | 561.93M | 492.43M | 434.64M | 372.69M | 322.88M |
| Selling, General & Admin | 167.72M | 155.03M | 138.94M | 125.53M | 106.28M | 91.35M |
| Research & Development | 109.17M | 105.31M | 95.50M | 84.10M | 70.35M | 62.57M |
| Amortization of Goodwill & Intangibles | 76.90M | 81.18M | 69.40M | 60.50M | 60.18M | 59.10M |
| Operating Expenses | 353.80M | 341.52M | 303.84M | 270.14M | 236.81M | 213.02M |
| Operating Income | 247.79M | 220.41M | 188.59M | 164.50M | 135.88M | 109.86M |
| Interest Expense | -964.00K | -967.00K | -1.00M | -1.36M | -1.17M | -1.12M |
| Interest & Investment Income | 10.88M | 8.08M | 11.51M | 9.67M | 4.46M | 299.00K |
| EBT Excluding Unusual Items | 257.71M | 227.52M | 199.10M | 172.80M | 139.17M | 109.04M |
| Merger & Restructuring Charges | -3.68M | -10.21M | -6.76M | -5.32M | -2.64M | -1.36M |
| Other Unusual Items | -514.00K | -218.00K | -707.00K | -16.33M | -2.80M | -5.07M |
| Pretax Income | 253.51M | 217.09M | 191.63M | 151.15M | 133.73M | 102.61M |
| Income Tax Expense | 65.50M | 53.32M | 48.36M | 35.24M | 31.49M | 16.33M |
| Net Income | 188.01M | 163.77M | 143.27M | 115.91M | 102.24M | 86.28M |
| Net Income to Common | 188.01M | 163.77M | 143.27M | 115.91M | 102.24M | 86.28M |
| Shares Outstanding (Basic) | 85.92M | 85.87M | 85.44M | 85.07M | 84.79M | 84.59M |
| Shares Outstanding (Diluted) | 87.39M | 87.58M | 87.32M | 86.82M | 86.45M | 86.20M |
| EPS (Basic) | 2.19 | 1.91 | 1.68 | 1.36 | 1.21 | 1.02 |
| EPS (Diluted) | 2.15 | 1.87 | 1.64 | 1.34 | 1.18 | 1.00 |
| Free Cash Flow | 298.51M | 260.52M | 212.53M | 202.12M | 186.32M | 171.31M |
| Free Cash Flow Per Share | 3.42 | 2.98 | 2.43 | 2.33 | 2.15 | 1.99 |
| Gross Margin | 77.61% | 77.08% | 75.64% | 75.86% | 76.68% | 76.03% |
| Operating Margin | 31.97% | 30.23% | 28.97% | 28.71% | 27.96% | 25.87% |
| Profit Margin | 24.25% | 22.46% | 22.01% | 20.23% | 21.04% | 20.32% |
| Free Cash Flow Margin | 38.51% | 35.74% | 32.65% | 35.28% | 38.34% | 40.34% |
| EBITDA | 330.76M | 307.54M | 263.58M | 230.47M | 201.28M | 174.09M |
| EBITDA Margin | 42.67% | 42.19% | 40.49% | 40.23% | 41.41% | 40.99% |
| D&A For EBITDA | 82.97M | 87.13M | 74.99M | 65.97M | 65.40M | 64.23M |
| EBIT | 247.79M | 220.41M | 188.59M | 164.50M | 135.88M | 109.86M |
| EBIT Margin | 31.97% | 30.23% | 28.97% | 28.71% | 27.96% | 25.87% |
| Effective Tax Rate | 25.84% | 24.56% | 25.24% | 23.32% | 23.55% | 15.91% |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 401.06M | 356.53M | 236.14M | 320.95M | 276.38M | 213.44M |
| Cash & Short-Term Investments | 401.06M | 356.53M | 236.14M | 320.95M | 276.38M | 213.44M |
| Accounts Receivable | 63.46M | 64.77M | 53.95M | 51.57M | 45.17M | 41.70M |
| Other Receivables | 25.67M | 26.38M | 16.93M | 12.19M | 11.27M | 13.77M |
| Receivables | 89.14M | 91.15M | 70.88M | 63.76M | 56.45M | 55.47M |
| Inventory | 411.00K | 101.00K | 715.00K | 353.00K | 868.00K | |
| Prepaid Expenses | 23.07M | 24.45M | 18.46M | 16.91M | 13.82M | 11.11M |
| Other Current Assets | 10.18M | 9.84M | 26.37M | 16.21M | 11.99M | 11.17M |
| Total Current Assets | 523.86M | 482.07M | 352.57M | 418.18M | 358.65M | 292.06M |
| Property, Plant & Equipment | 21.49M | 21.68M | 20.10M | 17.81M | 18.21M | 21.39M |
| Goodwill | 1.04B | 1.03B | 924.75M | 760.41M | 675.65M | 608.76M |
| Other Intangible Assets | 336.96M | 332.07M | 321.27M | 251.05M | 229.81M | 229.61M |
| Long-Term Deferred Tax Assets | 6.13M | 6.72M | 3.80M | 2.10M | 11.48M | 14.96M |
| Long-Term Deferred Charges | 23.10M | 22.80M | 19.00M | 18.60M | 18.40M | 16.60M |
| Other Long-Term Assets | 4.74M | 4.55M | 5.89M | 6.14M | 3.85M | 2.05M |
| Total Assets | 1.96B | 1.90B | 1.65B | 1.47B | 1.32B | 1.19B |
| Accounts Payable | 16.43M | 20.85M | 20.65M | 17.48M | 10.57M | 10.57M |
| Accrued Expenses | 91.99M | 63.12M | 70.98M | 56.68M | 80.31M | 56.44M |
| Current Portion of Leases | 3.33M | 3.47M | 3.18M | 3.08M | 3.40M | 4.03M |
| Current Income Taxes Payable | 6.42M | 7.13M | 9.31M | 6.73M | 7.54M | 5.62M |
| Current Unearned Revenue | 123.87M | 117.89M | 104.23M | 84.51M | 67.78M | 56.78M |
| Other Current Liabilities | 17.54M | 10.76M | 8.67M | 35.15M | ||
| Total Current Liabilities | 259.58M | 223.22M | 217.03M | 203.63M | 169.59M | 133.43M |
| Long-Term Leases | 4.21M | 4.89M | 4.72M | 3.90M | 3.92M | 7.38M |
| Long-Term Unearned Revenue | 751.00K | 1.18M | 978.00K | 1.46M | 1.61M | 1.92M |
| Long-Term Deferred Tax Liabilities | 41.09M | 41.44M | 34.13M | 21.10M | 35.40M | 35.52M |
| Other Long-Term Liabilities | 6.68M | 6.02M | 5.53M | 6.15M | 6.12M | 7.35M |
| Total Liabilities | 312.32M | 276.75M | 262.38M | 236.25M | 216.65M | 185.61M |
| Common Stock | 592.93M | 590.73M | 568.34M | 551.16M | 538.45M | 536.30M |
| Additional Paid-In Capital | 516.56M | 509.19M | 503.13M | 494.70M | 486.55M | 473.30M |
| Retained Earnings | 557.17M | 526.98M | 364.03M | 220.75M | 104.85M | 2.61M |
| Comprehensive Income & Other | -20.07M | -7.99M | -50.50M | -28.59M | -30.46M | -12.39M |
| Shareholders' Equity | 1.65B | 1.62B | 1.39B | 1.24B | 1.10B | 999.82M |
| Total Liabilities & Equity | 1.96B | 1.90B | 1.65B | 1.47B | 1.32B | 1.19B |
| Total Debt | 7.54M | 8.36M | 7.90M | 6.98M | 7.32M | 11.41M |
| Net Cash (Debt) | 393.51M | 348.16M | 228.24M | 313.97M | 269.06M | 202.03M |
| Net Cash Per Share | 4.50 | 3.98 | 2.61 | 3.62 | 3.11 | 2.34 |
| Filing Date Shares Outstanding | 85.55M | 86.02M | 85.61M | 85.18M | 84.82M | 84.76M |
| Total Common Shares Outstanding | 85.55M | 86.02M | 85.61M | 85.18M | 84.82M | 84.76M |
| Working Capital | 264.27M | 258.84M | 135.54M | 214.55M | 189.06M | 158.63M |
| Book Value Per Share | 19.25 | 18.82 | 16.18 | 14.53 | 12.96 | 11.80 |
| Tangible Book Value | 267.00M | 261.06M | 138.98M | 226.57M | 193.94M | 161.45M |
| Tangible Book Value Per Share | 3.12 | 3.03 | 1.62 | 2.66 | 2.29 | 1.90 |
| Machinery | 44.17M | 41.37M | 42.88M | 52.69M | 47.77M | 44.12M |
| Construction In Progress | 35.00K | 497.00K | 358.00K | 524.00K | ||
| Leasehold Improvements | 746.00K | 718.00K | 718.00K | 994.00K | 1.08M | 822.00K |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 188.01M | 163.77M | 143.27M | 115.91M | 102.24M | 86.28M |
| Depreciation & Amortization | 82.97M | 87.13M | 74.99M | 65.97M | 65.40M | 64.23M |
| Stock-Based Compensation | 26.86M | 20.91M | 19.96M | 16.48M | 13.67M | 11.02M |
| Other Operating Activities | 6.53M | 11.48M | -5.02M | -5.86M | 3.30M | 1.82M |
| Change in Accounts Receivable | 532.00K | -5.27M | 3.30M | -6.57M | 151.00K | -2.88M |
| Change in Accounts Payable | -470.00K | -1.14M | 1.87M | 6.18M | -620.00K | 2.34M |
| Change in Unearned Revenue | 2.53M | 4.16M | 5.83M | 15.14M | 8.14M | 6.14M |
| Change in Income Taxes | -908.00K | -2.02M | 956.00K | -446.00K | 753.00K | 426.00K |
| Change in Other Net Operating Assets | -336.00K | -12.77M | -25.88M | 873.00K | -633.00K | 6.77M |
| Operating Cash Flow | 305.71M | 266.25M | 219.27M | 207.68M | 192.40M | 176.14M |
| Capital Expenditures | -7.20M | -5.73M | -6.74M | -5.56M | -6.07M | -4.83M |
| Cash Acquisitions | -96.19M | -151.62M | -290.20M | -142.70M | -115.56M | -90.28M |
| Investing Cash Flow | -103.39M | -157.35M | -296.95M | -148.26M | -121.63M | -95.11M |
| Long-Term Debt Repaid | -1.07M | |||||
| Net Debt Issued (Repaid) | -1.07M | |||||
| Issuance of Common Stock | 9.57M | 14.10M | 12.39M | 9.27M | 1.73M | 2.66M |
| Repurchase of Common Stock | -50.54M | -7.38M | -6.75M | -4.89M | ||
| Other Financing Activities | -501.00K | -1.71M | -9.28M | -19.13M | -6.33M | -72.00K |
| Financing Cash Flow | -41.47M | 5.02M | -3.63M | -14.74M | -4.60M | 1.52M |
| Foreign Exchange Rate Adjustments | -434.00K | 6.48M | -3.51M | -109.00K | -3.21M | -2.77M |
| Net Cash Flow | 160.43M | 120.39M | -84.81M | 44.57M | 62.95M | 79.78M |
| Free Cash Flow | 298.51M | 260.52M | 212.53M | 202.12M | 186.32M | 171.31M |
| Free Cash Flow Margin | 38.51% | 35.74% | 32.65% | 35.28% | 38.34% | 40.34% |
| Free Cash Flow Per Share | 3.42 | 2.98 | 2.43 | 2.33 | 2.15 | 1.99 |
| Levered Free Cash Flow | 301.86M | 236.25M | 199.54M | 198.24M | 190.34M | 158.47M |
| Unlevered Free Cash Flow | 302.46M | 236.85M | 200.17M | 199.10M | 191.07M | 159.17M |
| Cash Income Tax Paid | 70.22M | 57.25M | 53.41M | 44.94M | 23.79M | 12.57M |
| Change in Working Capital | 1.35M | -17.04M | -13.93M | 15.18M | 7.79M | 12.79M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.77B | 6.45B | 9.94B | 7.49B | 6.18B | 6.15B |
| Enterprise Value | 7.38B | 6.17B | 9.77B | 7.20B | 5.94B | 6.00B |
| Last Close Price | 90.62 | 74.76 | 115.83 | 87.59 | 73.02 | 72.77 |
| PE Ratio | 42.01 | 39.36 | 69.40 | 64.58 | 60.40 | 71.29 |
| PS Ratio | 10.03 | 8.84 | 15.27 | 13.07 | 12.71 | 14.48 |
| PB Ratio | 4.72 | 3.98 | 7.18 | 6.05 | 5.62 | 6.15 |
| P/TBV Ratio | 29.11 | 24.69 | 71.54 | 33.04 | 31.84 | 38.10 |
| P/FCF Ratio | 26.04 | 24.75 | 46.78 | 37.04 | 33.14 | 35.91 |
| P/OCF Ratio | 25.42 | 24.21 | 45.34 | 36.05 | 32.10 | 34.92 |
| EV/Sales Ratio | 9.52 | 8.46 | 15.02 | 12.57 | 12.22 | 14.12 |
| EV/EBITDA Ratio | 22.30 | 20.05 | 37.09 | 31.25 | 29.51 | 34.44 |
| EV/EBIT Ratio | 29.77 | 27.98 | 51.83 | 43.78 | 43.72 | 54.57 |
| EV/FCF Ratio | 24.71 | 23.67 | 45.99 | 35.63 | 31.88 | 35.00 |
| Debt / Equity Ratio | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 0.02 | 0.03 | 0.03 | 0.03 | 0.04 | 0.06 |
| Debt / FCF Ratio | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.07 |
| Net Debt / Equity Ratio | -0.24 | -0.21 | -0.17 | -0.25 | -0.24 | -0.20 |
| Net Debt / EBITDA Ratio | -1.19 | -1.13 | -0.87 | -1.36 | -1.34 | -1.16 |
| Net Debt / FCF Ratio | -1.32 | -1.34 | -1.07 | -1.55 | -1.44 | -1.18 |
| Asset Turnover | 0.42 | 0.41 | 0.42 | 0.41 | 0.39 | 0.38 |
| Inventory Turnover | 367.35 | 409.47 | 296.95 | 156.99 | ||
| Quick Ratio | 1.89 | 2.01 | 1.42 | 1.89 | 1.96 | 2.02 |
| Current Ratio | 2.02 | 2.16 | 1.62 | 2.05 | 2.12 | 2.19 |
| Return on Equity (ROE) | 11.95% | 10.90% | 10.92% | 9.92% | 9.74% | 9.03% |
| Return on Assets (ROA) | 8.34% | 7.78% | 7.55% | 7.37% | 6.79% | 6.11% |
| Return on Invested Capital (ROIC) | 14.62% | 13.70% | 13.55% | 14.38% | 12.76% | 11.63% |
| Return on Capital Employed (ROCE) | 14.60% | 13.20% | 13.20% | 12.90% | 11.90% | 10.40% |
| Earnings Yield | 2.38% | 2.54% | 1.44% | 1.55% | 1.66% | 1.40% |
| FCF Yield | 3.84% | 4.04% | 2.14% | 2.70% | 3.02% | 2.79% |
| Buyback Yield / Dilution | 0.15% | -0.29% | -0.58% | -0.43% | -0.29% | -0.52% |