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What this page is: Delvantic's full research page for The Descartes Systems Group Inc. (DSGX) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.

Page map (sections in order; each card carries a stable reference-name attribute you can cite):

  • profile-header / price-overview — company profile, live quote, market cap
  • extended-analysis — the core: three AI lens reads with findings, scores, and the analyst memo
  • future-predictions — our forward price-band predictions
  • market-narrative / ai-findings / gpt-critique — narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)
  • Members-only sections (render as login gates for anonymous readers): price-history, income-trend, key-metrics, financials (statement tables), insider-trading. The analysis above is public; the raw data tables require a free account.

More for machine readers: site briefing at /llms.txt · any ticker resolves at delvantic.com/stock/TICKER · raw inputs are public-company filings and market data (via licensed data feeds); every model, score, lens read, and prediction on this page is Delvantic's own analysis.

The Descartes Systems Group Inc.

DSGX NASDAQ GICS Category PDF
Technology · Software - Application
Waterloo, ON N2V 1C6, Canada descartes.com Updated Aug 11, 10:50am
Price
$80.39
Market Cap
$6.9B
Employees
2,364
Beta
0.19
Avg Volume
479,698
CEO
Mr. Edward J. Ryan B.A.

The Descartes Systems Group Inc. is a global logistics technology company that provides cloud-based software solutions for supply chain and logistics operations worldwide. The company operates the Global Logistics Network, a digital platform that connects shippers, carriers, freight forwarders, customs brokers, and third-party logistics providers to streamline commerce and trade. Its solutions span routing and fleet optimization, transportation management, ecommerce shipping and fulfillment, customs compliance and regulatory filings, global trade intelligence, and B2B connectivity services. The platform enables real-time visibility and collaboration across multimodal logistics networks, helping businesses manage shipments, optimize delivery resources, ensure regulatory compliance, and access trade data. Descartes serves diverse industries including retail, manufacturing, transportation, field service, and distribution. Headquartered in Waterloo, Ontario, Canada, the company delivers modular, subscription-based software solutions designed to improve productivity, performance, security, and sustainability across logistics-intensive business operations.

Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 11
No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Jul 23, 2026.
EPS surprise history — vs analyst consensus · 5 prints of vendor history
+16.1%
Jan '26
-5.4%
Mar '26
+18.2%
May '26
-11.1%
Jun '26
+6.0%
Jul '26
Print date EPS est. EPS actual Revenue est. Revenue actual
Jul 23, 2026 $3.32 $3.52 +6.0% — —
Jun 3, 2026 $0.63 $0.56 -11.1% — —
May 8, 2026 $0.11 $0.13 +18.2% — —
Mar 11, 2026 $0.56 $0.53 -5.4% — —
Jan 23, 2026 $1.61 $1.87 +16.1% — —

Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.

Recent SEC Filings
Filed Form Document
Jul 16, 2026 F-X View
Jul 15, 2026 F-10EF View
Jul 6, 2026 6-K View
Jun 12, 2026 6-K View
Jun 4, 2026 6-K View
May 26, 2026 SD View
May 5, 2026 6-K View
Apr 27, 2026 SCHEDULE 13G View
Apr 23, 2026 6-K View
Mar 11, 2026 6-K View
Mar 11, 2026 40-F View
Feb 17, 2026 SCHEDULE 13G/A View

Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.

Price Overview
Last updated: Aug 11, 2026 10:50am (just now)
Current data · timestamped when a report runs
$80.39
Change · Aug 11
+0.39 (+0.48%)
Day Range
$78.85 – $80.39
52-Week Range
$62.56 – $109.00
50-Day MA
$73.08
200-Day MA
$76.25
Volume
4,703.00
Share Structure
Outstanding 85,887,627.00
Float 84,515,143.00
Free Float 98.4%
High free float — 98.4% of shares trade freely, ~1.6% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Last updated: Aug 11, 2026 10:50am (just now)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Last updated: Aug 8, 2026 9:46pm (2d ago)
Why there are no quarterly figures for The Descartes Systems Group Inc.

This company does not file structured financial statements with the U.S. SEC, so quarterly figures aren't available from our filings-based data engine. Annual figures shown here come from the sources that do cover it.

Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
TD Twelve Data statement HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEX
Stock Price / EPS (Diluted)
42.99
Stock Price: $80.39
EPS (Diluted): 1.87
P/B Ratio (Price vs net asset value)
HEX
Stock Price / Book Value Per Share
4.35
Stock Price: $80.39
Total Equity: $1.62B
Shares: 87,579,000
EV/EBITDA (Total value vs operating profit)
HEX
Enterprise Value / EBITDA
30.32
Market Cap: $6.86B
Total Debt: $0.00
Cash: $356.53M
EBITDA: $215.93M
Enterprise Value (Takeover price (cap + debt - cash))
HEX
Market Cap + Total Debt - Cash
$6.5B
Market Cap: $6.86B
Total Debt: $0.00
Cash: $356.53M
Gross Margin (Revenue left after direct costs)
HEX
Gross Profit / Revenue
77.1%
Gross Profit: $561.93M
Revenue: $728.99M
Operating Margin (Revenue left after all operations)
HEX
Operating Income / Revenue
28.8%
Operating Income: $209.98M
Revenue: $728.99M
Net Margin (Revenue left as actual profit)
HEX
Net Income / Revenue
22.5%
Net Income: $163.77M
Revenue: $728.99M
ROE (Profit from shareholder equity)
HEX
Net Income / Total Equity
10.1%
Net Income: $163.77M
Total Equity: $1.62B
ROIC (Profit from all invested capital)
HEX
NOPAT / Invested Capital
12.5%
Operating Income: $209.98M
Tax Rate: 24.6%
Equity: $1.62B
Total Debt: $0.00
Cash: $356.53M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
HEX
Current Assets / Current Liabilities
2.16
Current Assets: $482.07M
Current Liabilities: $223.22M
Debt/Equity (Leverage — debt vs equity)
HEX
Total Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $1.62B
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
HEX
Revenue / Shares Outstanding
$8.32
Revenue: $728.99M
Shares: 87,579,000
Book Value/Share (Net assets per share)
HEX
(Total Assets - Total Liabilities) / Shares
$18.49
Total Equity: $1.62B
Shares: 87,579,000
FCF/Share (Real cash generated per share)
HEX
(Operating Cash Flow + CapEx) / Shares
$2.97
Operating CF: $266.25M
CapEx: -$5.73M
Shares: 87,579,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
TD
Last Annual Dividend / Stock Price
—
Last Dividend: $0.00
Stock Price: $80.39
Payout Ratio (Earnings paid out as dividends)
HEX
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $163.77M
Dividends paid not available in cash flow statement
Income Statement (Annual)
Last updated: Aug 8, 2026 9:46pm (2d ago)
Metric 2022 2023 2024 2025 2026
Revenue $424.7M $486.0M $572.9M $651.0M $729.0M
Cost of Revenue $101.8M $113.3M $138.3M $158.6M $167.1M
Gross Profit $322.9M $372.7M $434.6M $492.4M $561.9M
Operating Expenses $219.4M $242.3M $291.8M $311.3M $351.9M
Operating Income $103.4M $130.4M $142.8M $181.1M $210.0M
Net Income $86.3M $102.2M $115.9M $143.3M $163.8M
EBITDA $108.6M $135.7M $148.3M $186.7M $215.9M
EPS $1.02 $1.21 $1.36 $1.68 $1.91
EPS (Diluted) $1.00 $1.18 $1.34 $1.64 $1.87
Balance Sheet (Annual)
Last updated: Aug 8, 2026 9:46pm (2d ago)
Metric 2022 2023 2024 2025 2026
Cash & Equivalents $213.4M $276.4M $321.0M $236.1M $356.5M
Total Current Assets $292.1M $358.7M $418.2M $352.6M $482.1M
Total Assets $1.2B $1.3B $1.5B $1.6B $1.9B
Current Liabilities $133.4M $169.6M $203.6M $217.0M $223.2M
Long-Term Debt — — — — —
Total Liabilities $185.6M $216.7M $236.3M $262.4M $276.8M
Total Equity $999.8M $1.1B $1.2B $1.4B $1.6B
Retained Earnings $2.6M $104.8M $220.8M $364.0M $527.0M
Cash Flow (Annual)
Last updated: Aug 8, 2026 9:46pm (2d ago)
Metric 2022 2023 2024 2025 2026
Operating Cash Flow $176.1M $192.4M $207.7M $219.3M $266.2M
Capital Expenditure -$4.8M -$6.1M -$5.6M -$6.7M -$5.7M
Free Cash Flow $171.3M $186.3M $202.1M $212.5M $260.5M
Acquisitions (net) -$90.3M -$115.6M -$142.7M -$290.2M —
Net Debt Issued / (Repaid) -$1.1M — — — —
Dividends Paid — — — — —
Stock Buybacks — — — — $-892,000
Net Change in Cash $79.8M $62.9M $44.6M -$84.8M $120.4M
Growth Trends (YoY %)
Last updated: Aug 8, 2026 9:46pm (2d ago)
Metric 2023 2024 2025 2026
Revenue Growth +14.4% +17.9% +13.6% +12.0%
Gross Profit Growth +15.4% +16.6% +13.3% +14.1%
Operating Income Growth +26.1% +9.5% +26.8% +15.9%
Net Income Growth +18.5% +13.4% +23.6% +14.3%
EBITDA Growth +25.0% +9.3% +25.9% +15.6%
Industry Benchmarks
Compares DSGX against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor (founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for DSGX — it's generated by the pipeline (market-narrative step).
Claude Reading
Claude Opus reviews the pipeline's raw data + every prior verdict, then writes an independent take.
No AI findings yet for DSGX — they're generated by the pipeline (ai-findings step) when a report is run on this ticker.
GPT Reading
GPT reads the identical raw briefing blind — one of the Big-3 independent readings — and commits to its own verdict.
No GPT reading yet for DSGX — it's generated by the pipeline (gpt-critique step) after the other Big-3 seats, when a report is run on this ticker.
Grok Reading
Grok (xAI) reads the identical raw briefing blind — one of the Big-3 independent readings — and commits to its own verdict.
No Grok reading yet for DSGX — it's generated by the pipeline (grok-critique step) alongside the other Big-3 seats, when a report is run on this ticker.
Advanced Analysis Forensic deep-dive · four lenses
A separate, manually-run forensic pipeline (dilution, earnings quality, liquidity → two scored lenses → the play). Hasn't been run for this ticker yet.
Community AI Feedback
No community reviews yet for DSGX. Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.525 · a5aac093 · 2026-08-10 20:52:14