DLH Holdings Corp
NASDAQ: DLHC · INDUSTRIALS · SPECIALTY BUSINESS SERVICES
Updated 2026-06-05
DLH Holdings Corp (DLHC) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $8.66M | $-1.38M | $4.68M | $-2.09M | $-2.24M | $-987000.00 | $-2.78M | $1.80M | $1.67M | $1.98M | $6.04M | $6.52M | $14.08M | $18.04M | $19.45M | $45.66M | $1.24M | $31.03M | $27.37M | $23.22M |
| Capital expenditures | $146000.00 | $246000.00 | $251000.00 | $69000.00 | $194000.00 | $37000.00 | $68000.00 | $9000.00 | $13000.00 | $142000.00 | $498000.00 | $1.06M | $654000.00 | $405000.00 | $152000.00 | $103000.00 | $872000.00 | $625000.00 | $836000.00 | $241000.00 |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based comp | $17000.00 | $7000.00 | $30000.00 | $221000.00 | $144000.00 | $412000.00 | $260000.00 | $206000.00 | $472000.00 | $479000.00 | $465000.00 | $662000.00 | $1.38M | $790000.00 | $910000.00 | $1.66M | $2.61M | $1.92M | $1.90M | $1.46M |
| Free cash flow | $8.51M | $-1.62M | $4.43M | $-2.16M | $-2.44M | $-1.02M | $-2.85M | $1.80M | $1.65M | $1.84M | $5.54M | $5.46M | $13.42M | $17.63M | $19.30M | $45.56M | $371000.00 | $30.41M | $26.53M | $22.98M |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | $55000.00 | — | $281000.00 | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | — | $-424000.00 | $2.33M | $319000.00 | $500000.00 | $1.65M | $-2.13M | $1.50M | $1.43M | $-4.57M | $-433000.00 | $22.69M | $-23.82M | — | — | — |
Frequently asked questions
What is DLH Holdings Corp's revenue?
DLH Holdings Corp's trailing twelve-month revenue is $292.66M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is DLHC?
In its most recent fiscal year, DLHC ran a gross margin of 18.92%, an operating margin of 4.87%, and a net margin of 0.40%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does DLHC generate?
DLHC produced $22.98M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is DLHC's balance sheet healthy?
DLHC holds $125000.00 in cash and equivalents against $119.97M in long-term debt, on $112.96M of shareholder equity. That debt is best read against the cash flow the business throws off each year.