D 
Descartes Systems Group DSG.TO · CAD
Information Technology · Toronto Stock Exchange · 🇨🇦 Canada
133.68
+0.76%
Close of 9 Nov 2026, in CAD
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At a glance
Figures in USD, from our data supplier.
Revenue
$743.4m
FY2017FY2026
Net income
$167.0m
FY2017FY2026
Free cash flow
$265.6m
FY2017FY2026
Shareholders' equity
$1.61bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $743.4m | $651.0m | $572.9m | $486.0m | $424.7m | $348.7m | $325.8m | $275.2m | $237.4m | $203.8m |
| Gross profit | $490.2m | $492.4m | $434.6m | $372.7m | $322.9m | $258.8m | $240.1m | $200.2m | $173.7m | $147.7m |
| Research and development | $107.4m | $95.5m | $84.1m | $70.4m | $62.6m | $54.1m | $53.5m | $47.9m | $41.8m | $35.6m |
| Operating income | $240.0m | $182.1m | $152.5m | $131.6m | $103.4m | $71.4m | $52.3m | $41.4m | $35.9m | $32.1m |
| Net income | $167.0m | $143.3m | $115.9m | $102.2m | $86.3m | $52.1m | $37.0m | $31.3m | $26.9m | $23.8m |
| Diluted earnings per share | 1.92 | 1.64 | 1.33 | 1.18 | 1.00 | 0.60 | 0.43 | 0.37 | 0.35 | 0.31 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $1.88bn | $1.62bn | $1.47bn | $1.32bn | $1.19bn | $1.06bn | $943.0m | $652.5m | $624.9m | $500.3m |
| Cash and short-term investments | $353.5m | $231.9m | $319.1m | $276.2m | $213.5m | $133.4m | $44.4m | $27.3m | $35.1m | $38.1m |
| Total liabilities | $274.4m | $257.7m | $234.9m | $216.5m | $185.7m | $151.8m | $120.9m | $119.7m | $126.1m | $69.9m |
| Debt | $8.3m | $7.8m | $6.9m | $7.3m | $11.4m | $13.0m | $13.4m | $25.5m | $37.0m | $199,900 |
| Shareholders' equity | $1.61bn | $1.36bn | $1.23bn | $1.10bn | $1.00bn | $909.0m | $822.0m | $532.8m | $498.8m | $430.4m |
| Shares outstanding | 87m | 88m | 87m | 87m | 86m | 86m | 86m | 85m | 78m | 77m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $271.5m | $219.3m | $207.7m | $192.4m | $176.1m | $131.2m | $104.3m | $78.1m | $72.1m | $72.6m |
| Capital spending | −$5.8m | −$6.7m | −$5.6m | −$6.1m | −$4.8m | −$3.8m | −$4.9m | −$5.2m | −$5.1m | −$4.9m |
| Free cash flow | $265.6m | $212.5m | $202.1m | $186.3m | $171.3m | $127.5m | $99.4m | $72.8m | $67.1m | $67.7m |
Latest quarters
By quarter end
| Jul 2026 | Apr 2026 | Jan 2026 | Oct 2025 | Jul 2025 | Apr 2025 | Jan 2025 | Oct 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $198.0m | $195.2m | $195.8m | $187.7m | $179.8m | $168.7m | $167.5m | $168.8m |
| Gross profit | $136.5m | $134.0m | $130.7m | $145.2m | $138.2m | $129.0m | $128.0m | $125.6m |
| Operating income | $65.7m | $65.3m | $66.1m | $56.8m | $49.7m | $48.2m | $47.3m | $46.0m |
| Net income | $49.3m | $48.9m | $46.3m | $43.9m | $38.0m | $36.2m | $37.4m | $36.6m |
| Diluted earnings per share | 0.57 | 0.56 | 0.53 | 0.50 | 0.43 | 0.41 | 0.43 | 0.42 |
| Cash from operations | $80.0m | $75.0m | $77.0m | $73.0m | $63.0m | $53.0m | $60.0m | $60.0m |
| Capital spending | −$1.0m | −$2.0m | −$1.0m | −$1.0m | −$1.0m | −$1.0m | −$2.0m | −$1.0m |
| Free cash flow | $79.0m | $73.0m | $76.0m | $72.0m | $62.0m | $52.0m | $58.0m | $59.0m |
| Total assets | $1.96bn | $1.92bn | $1.88bn | $1.82bn | $1.76bn | $1.71bn | $1.62bn | $1.62bn |
| Cash and short-term investments | $400.9m | $377.5m | $353.5m | $278.7m | $241.5m | $176.5m | $231.9m | $181.5m |
| Debt | $3.3m | $3.4m | $3.4m | $3.2m | $3.3m | $3.4m | $3.1m | $2.8m |
| Shareholders' equity | $1.65bn | $1.63bn | $1.61bn | $1.55bn | $1.51bn | $1.45bn | $1.36bn | $1.36bn |
Financial ratios
Data as of 14 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 77.1% | 75.6% | 75.9% | 76.7% | 76.0% | 74.2% |
| Operating margin | 29.9% | 29.6% | 26.6% | 27.8% | 24.4% | 20.5% |
| Net margin | 22.5% | 22.0% | 20.2% | 21.0% | 20.3% | 14.9% |
| Return on equity | 10.2% | 10.5% | 9.4% | 9.3% | 8.6% | 5.7% |
| Return on assets | 8.7% | 8.9% | 7.9% | 7.8% | 7.3% | 4.9% |
| Free cash flow yield | 2.6% | 2.1% | 2.0% | 1.9% | 1.7% | 1.3% |
| Revenue growth | 12.0% | 13.6% | 17.9% | 14.4% | 21.8% | 7.0% |
| Earnings growth | 14.3% | 23.6% | 13.4% | 18.5% | 65.6% | 40.8% |
| Current ratio | 2.16x | 1.62x | 2.05x | 2.11x | 2.19x | 1.95x |
| Debt to equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 85.4% | 84.1% | 84.0% | 83.5% | 84.3% | 85.7% |
| Interest coverage | 225.50x | 191.87x | 111.90x | 115.59x | 92.37x | 60.33x |
| R&D as a share of sales | 14.4% | 14.7% | 14.7% | 14.5% | 14.7% | 15.5% |
| Buybacks as a share of market value | 0.6% | -0.3% | -0.6% | -0.4% | -0.2% | -0.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 15.2% | 16.3% | 14.9% |
| Operating income | 22.2% | 27.4% | 23.9% |
| Net income | 17.8% | 26.2% | 23.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 70.5% | 73.0% | 73.5% | 73.3% |
| Operating margin | 30.3% | 28.8% | 27.3% | 24.0% |
| Net margin | 22.3% | 21.5% | 20.7% | 18.1% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | 49.3 | 53.8 | 89.9 | 69.0 | 69.1 | 126.6 | 126.2 |
| Price to sales | 11.1 | 11.8 | 18.2 | 14.5 | 14.0 | 18.9 | 14.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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