Donnelley Financial Solutions, Inc. (DFIN)

Services-Miscellaneous Business Services

Latest Price

$47.86

TTM P/E

31.28

Normalized P/E

16.32

Div Yield

Book Value

15.25

P/B Ratio

3.14

Valuation metrics

EPS: $1.15

Book value / share: $14.81

Formula: √(22.5 × EPS × BVPS)

Graham Number

$19.58

59% downside

Norm. op. income: $137M (median of 7yr)

Tax rate: 26%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$33.65

30% downside

Base FCF: $105M (median of recent 5yr)

Growth: 7%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$76.54

+60% upside

EPS: $1.15

Target P/E: 16×

Formula: EPS × P/E

P/E Fair Value

$18.40

62% downside

92.2% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	3.94M	$165.0M	15.94%	-57.7K	2026-06-30
STATE STREET CORP	1.20M	$50.0M	4.86%	+39.6K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	1.06M	$44.0M	4.28%	-58.0K	2026-06-30
Alberta Investment Management Corp	1.05M	$44.0M	4.26%	+200.0K	2026-06-30
MORGAN STANLEY	820.8K	$34.0M	3.32%	-127.8K	2026-06-30
RICE HALL JAMES & ASSOCIATES, LLC	775.1K	$32.0M	3.14%	-4.9K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	699.1K	$29.0M	2.83%	+12.7K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	633.8K	$26.0M	2.57%	+7.4K	2026-06-30
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC	631.9K	$26.0M	2.56%	+86.4K	2026-06-30
FULLER & THALER ASSET MANAGEMENT, INC.	629.3K	$26.0M	2.55%	+166.6K	2026-06-30