Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%

Attractive yield
FCF Yield is 13%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Cloud Computing, and Artificial Intelligence. Themes include Online Marketplaces, Show more.

Trading close to highs
Dist 52W High is 0.0%

Weak multi-year price returns
2Y Excs Rtn is 0.0%, 3Y Excs Rtn is -69%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 5,456x

Stock price has recently run up significantly
6M Rtn6 month market price return is 126%, 12M Rtn12 month market price return is 106%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -9.4%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.6%, Rev Chg QQuarterly Revenue Change % is -8.1%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 140%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.7%

Key risks
DHX key risks include [1] significant revenue declines due to its heavy dependence on the volatile tech hiring market and [2] financial constraints from outstanding debt and substantial non-cash impairment charges on its intangible assets.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%
1 Attractive yield
FCF Yield is 13%
2 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Cloud Computing, and Artificial Intelligence. Themes include Online Marketplaces, Show more.
3 Trading close to highs
Dist 52W High is 0.0%
4 Weak multi-year price returns
2Y Excs Rtn is 0.0%, 3Y Excs Rtn is -69%
5 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 5,456x
6 Stock price has recently run up significantly
6M Rtn6 month market price return is 126%, 12M Rtn12 month market price return is 106%
7 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -9.4%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.6%, Rev Chg QQuarterly Revenue Change % is -8.1%
8 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 140%
9 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.7%
10 Key risks
DHX key risks include [1] significant revenue declines due to its heavy dependence on the volatile tech hiring market and [2] financial constraints from outstanding debt and substantial non-cash impairment charges on its intangible assets.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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DHI (DHX) stock has gained about 120% since 1/31/2026 because of the following key factors:

1. Significant Turnaround to Profitability and Enhanced Operating Efficiency.

DHI Group reported a net income of $1.5 million in the first quarter of 2026, a substantial improvement from a net loss of $9.8 million in the prior-year quarter. This return to profitability was coupled with a 17% increase in Adjusted EBITDA to $8.1 million and an expansion of the Adjusted EBITDA margin from 22% to 27%, signaling stronger operational efficiency and cost discipline.

2. Robust Growth in the ClearanceJobs Segment and Strategic Acquisition.

ClearanceJobs, identified as the company's primary growth engine, experienced a 5% increase in revenue to $14.0 million and a 7% rise in bookings during Q1 2026. This performance was further strengthened by the acquisition of Point Solutions Group (PSG) in late February 2026, which contributed $700,000 in revenue and bookings to ClearanceJobs in the first quarter, bolstering its growth trajectory.

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Stock Movement Drivers

Fundamental Drivers

The 119.5% change in DHX stock from 1/31/2026 to 5/11/2026 was primarily driven by a 112.6% change in the company's P/S Multiple.
(LTM values as of)13120265112026Change
Stock Price ($)1.743.82119.5%
Change Contribution By: 
Total Revenues ($ Mil)131125-4.6%
P/S Multiple0.61.3112.6%
Shares Outstanding (Mil)45418.2%
Cumulative Contribution119.5%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/11/2026
ReturnCorrelation
DHX119.5% 
Market (SPY)3.6%12.3%
Sector (XLP)0.4%-20.9%

Fundamental Drivers

The 96.9% change in DHX stock from 10/31/2025 to 5/11/2026 was primarily driven by a 93.0% change in the company's P/S Multiple.
(LTM values as of)103120255112026Change
Stock Price ($)1.943.8296.9%
Change Contribution By: 
Total Revenues ($ Mil)134125-6.8%
P/S Multiple0.71.393.0%
Shares Outstanding (Mil)45419.5%
Cumulative Contribution96.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/11/2026
ReturnCorrelation
DHX96.9% 
Market (SPY)5.5%9.6%
Sector (XLP)10.8%-13.6%

Fundamental Drivers

The 170.9% change in DHX stock from 4/30/2025 to 5/11/2026 was primarily driven by a 183.0% change in the company's P/S Multiple.
(LTM values as of)43020255112026Change
Stock Price ($)1.413.82170.9%
Change Contribution By: 
Total Revenues ($ Mil)142125-11.8%
P/S Multiple0.41.3183.0%
Shares Outstanding (Mil)45418.5%
Cumulative Contribution170.9%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/11/2026
ReturnCorrelation
DHX170.9% 
Market (SPY)30.4%16.3%
Sector (XLP)4.7%-5.8%

Fundamental Drivers

The 4.1% change in DHX stock from 4/30/2023 to 5/11/2026 was primarily driven by a 18.2% change in the company's P/S Multiple.
(LTM values as of)43020235112026Change
Stock Price ($)3.673.824.1%
Change Contribution By: 
Total Revenues ($ Mil)150125-16.3%
P/S Multiple1.11.318.2%
Shares Outstanding (Mil)44415.2%
Cumulative Contribution4.1%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/11/2026
ReturnCorrelation
DHX4.1% 
Market (SPY)78.7%18.8%
Sector (XLP)16.8%6.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
DHX Return181%-15%-51%-32%-12%126%58%
Peers Return63%-39%19%-17%-34%-15%-45%
S&P 500 Return27%-19%24%23%16%8%97%

Monthly Win Rates [3]
DHX Win Rate83%50%25%33%50%80% 
Peers Win Rate67%25%53%40%43%49% 
S&P 500 Win Rate75%42%67%75%67%60% 

Max Drawdowns [4]
DHX Max Drawdown0%-32%-61%-41%-32%0% 
Peers Max Drawdown-3%-43%-20%-31%-50%-41% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ZIP, ASGN, KFRC, RHI, UPWK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/11/2026 (YTD)

How Low Can It Go

EventDHXS&P 500
2025 US Tariff Shock
  % Loss-60.2%-18.8%
  % Gain to Breakeven151.2%23.1%
  Time to Breakeven56 days79 days
2024 Yen Carry Trade Unwind
  % Loss-21.9%-7.8%
  % Gain to Breakeven28.0%8.5%
  Time to Breakeven142 days18 days
2022 Inflation Shock & Fed Tightening
  % Loss-30.9%-24.5%
  % Gain to Breakeven44.7%32.4%
  Time to Breakeven39 days427 days
2020 COVID-19 Crash
  % Loss-36.6%-33.7%
  % Gain to Breakeven57.6%50.9%
  Time to Breakeven30 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-29.2%-19.2%
  % Gain to Breakeven41.2%23.7%
  Time to Breakeven16 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-14.3%-12.2%
  % Gain to Breakeven16.7%13.9%
  Time to Breakeven36 days62 days

Compare to ZIP, ASGN, KFRC, RHI, UPWK

In The Past

DHI's stock fell -60.2% during the 2025 US Tariff Shock. Such a loss loss requires a 151.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventDHXS&P 500
2025 US Tariff Shock
  % Loss-60.2%-18.8%
  % Gain to Breakeven151.2%23.1%
  Time to Breakeven56 days79 days
2024 Yen Carry Trade Unwind
  % Loss-21.9%-7.8%
  % Gain to Breakeven28.0%8.5%
  Time to Breakeven142 days18 days
2022 Inflation Shock & Fed Tightening
  % Loss-30.9%-24.5%
  % Gain to Breakeven44.7%32.4%
  Time to Breakeven39 days427 days
2020 COVID-19 Crash
  % Loss-36.6%-33.7%
  % Gain to Breakeven57.6%50.9%
  Time to Breakeven30 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-29.2%-19.2%
  % Gain to Breakeven41.2%23.7%
  Time to Breakeven16 days105 days
2008-2009 Global Financial Crisis
  % Loss-74.0%-53.4%
  % Gain to Breakeven284.0%114.4%
  Time to Breakeven405 days1085 days
Summer 2007 Credit Crunch
  % Loss-41.7%-8.6%
  % Gain to Breakeven71.6%9.5%
  Time to Breakeven1188 days47 days

Compare to ZIP, ASGN, KFRC, RHI, UPWK

In The Past

DHI's stock fell -60.2% during the 2025 US Tariff Shock. Such a loss loss requires a 151.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About DHI (DHX)

DHI Group, Inc. provides data, insights, and employment connections through specialized services for technology professionals in the United States, the United Kingdom, rest of Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates Dice that offers job postings of technology and non-technology companies for industries, such as positions for software engineers, big data professionals, systems administrators, database specialists, project managers, and other technology and engineering professionals; and ClearanceJobs, an Internet-based career network, which matches security-cleared professionals with hiring companies searching for employees. It also provides eFinancialCareers, a financial services careers Website for financial services industry professionals from various sectors, including asset management, risk management, investment banking, and information technology. The company serves small, mid-sized, and large direct employers; staffing companies; recruiting agencies; consulting firms; and marketing departments of companies. The company was formerly known as Dice Holdings, Inc. and changed its name to DHI Group, Inc. in April 2015. DHI Group, Inc. was founded in 1991 and is headquartered in Centennial, Colorado.

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  • Indeed for specialized tech and finance jobs.
  • A Monster.com focused on connecting employers with tech, finance, and security-cleared professionals.

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  • Dice: An online career network that provides job postings for technology and engineering professionals across various industries.
  • ClearanceJobs: An internet-based career network specifically designed to match security-cleared professionals with hiring companies.
  • eFinancialCareers: A specialized careers website serving professionals in the financial services industry, including sectors like asset management, risk management, and investment banking.

AI Analysis | Feedback

DHI Group, Inc. (DHX) - Major Customers

DHI Group, Inc. (DHX) sells primarily to other companies rather than individuals. The background information provided does not list specific customer company names. However, its major customers are categorized as:

  • Small, mid-sized, and large direct employers
  • Staffing companies
  • Recruiting agencies
  • Consulting firms
  • Marketing departments of companies

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  • Amazon.com, Inc. (AMZN)

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Art Zeile, President and Chief Executive Officer

Art Zeile has served as President and CEO and a director of DHI Group (DHX) since April 2018. He holds a B.S. in Astronautical Engineering from the U.S. Air Force Academy and an MPP from Harvard University, and served in the U.S. Air Force from 1986 to 1993. Prior to DHI, he held CEO positions at HOSTING (cloud services, 2008–2016), QTC Management (healthcare technology, 2006–2007), and was co-founder and CEO of Inflow (data centers, 1997–2005). Zeile has experience co-founding companies and scaling them through numerous strategic and tactical acquisitions and divestitures. He has worked with over two dozen private equity and venture capital firms, with 17 directly investing in his companies, and has cumulatively raised over $500M in equity and debt financing.

Greg Schippers, Chief Financial Officer

Greg Schippers was appointed Chief Financial Officer in January 2025, after serving as Interim Chief Financial Officer since November 2024. He joined DHI in 2014 as Vice President of Finance and Controller and has since taken on increasing responsibilities within the financial organization, which includes financial planning, accounting, financial reporting, investor relations, treasury, internal audit, and tax.

Jack Connolly, Chief Legal Officer

Jack Connolly was appointed Chief Legal Officer in January 2025. He joined DHI in July 2018 as an in-house corporate attorney and previously served as General Counsel starting in May 2023. He is responsible for managing all legal affairs, including intellectual property, mergers and acquisitions, strategic alliances, corporate securities, litigation, employment law, and data privacy.

Pamela Bilash, Chief Human Resources Officer

Pamela Bilash serves as the Chief Human Resources Officer for DHI Group.

Paul Farnsworth, President, Dice

Paul Farnsworth is the President of Dice, one of DHI Group's key brands.

AI Analysis | Feedback

The key risks to DHI Group, Inc.'s business are:

1. Reliance on Economic Conditions and Cyclical Downturns in the Job Market

DHI Group's financial performance, particularly for its Dice platform, is highly susceptible to macroeconomic conditions and the cyclical nature of the job market, especially within the technology staffing sector. Economic slowdowns and hiring recessions directly lead to declines in job postings and bookings, which are primary revenue drivers for the company. The company has explicitly acknowledged challenges faced by Dice due to a difficult macroeconomic environment and has reported overall revenue and bookings declines.

2. Intense Competition and Inability to Maintain Competitive Advantage

The online job board industry is characterized by intense competition from a multitude of platforms, including larger generalist sites and other specialized niche boards. DHI Group faces ongoing pressure to differentiate its services, attract and retain both employers and job seekers, and maintain a sustainable competitive advantage in a crowded market. During economic downturns, companies often reduce HR and advertising budgets, further intensifying competition for fewer available dollars.

3. Potential for Artificial Intelligence to Reduce Demand for Technology Professionals

While DHI Group is actively investing in and seeking to leverage artificial intelligence (AI) to enhance its platforms and services, there is an inherent risk that advancements in AI could potentially reduce the overall demand for human technology professionals in the workforce. A significant decrease in the need for tech talent would directly impact the core market served by DHI's platforms, particularly Dice, which specializes in technology roles.

AI Analysis | Feedback

DHI Group, Inc. faces several clear emerging threats:

  • Dominance and continuous evolution of professional networking platforms: Generalist professional networking sites, most notably LinkedIn, increasingly offer comprehensive recruitment solutions, professional profiles, and networking capabilities that directly compete with DHI's specialized job boards. LinkedIn's vast user base across technology, finance, and other industries, coupled with its advanced recruiter tools (e.g., AI-powered matching, direct outreach, skills assessments, talent pools), offers a compelling alternative for both job seekers and employers, potentially marginalizing the value proposition of niche job boards.
  • Advancements in AI and automation for talent acquisition: The rapid development and adoption of AI-powered recruitment platforms, sophisticated applicant tracking systems (ATS), and direct sourcing tools are enabling companies to identify, engage, and screen candidates more efficiently without relying solely on traditional job postings. These technologies can proactively match candidates to roles using public data, internal databases, and behavioral analytics, potentially disintermediating DHI's core business model of connecting job seekers and employers through specialized online marketplaces.

AI Analysis | Feedback

DHI Group, Inc. operates two main products, Dice and ClearanceJobs, which serve distinct addressable markets.

Dice (Technology Professionals)

The addressable market for Dice, which focuses on technology professionals, can be identified by the overall IT recruitment market and the online recruitment technology market.

  • Globally, the IT Recruitment Market was valued at approximately USD 198.8 billion in 2025 and is projected to reach USD 416.26 billion by 2035.
  • In North America, the online recruitment technology market was valued at USD 6.05 billion in 2025.
  • Specifically for the U.S., the online recruitment services market generated USD 5.2 billion in revenue in 2024 and is expected to grow to USD 15.5 billion by 2032.

ClearanceJobs (Security-Cleared Professionals)

ClearanceJobs caters to security-cleared professionals, primarily within the U.S. defense and intelligence sectors. While a specific overall dollar value for the security-cleared professional recruitment market was not found, the market exhibits significant demand and growth.

  • The U.S. cleared talent market is anticipated to grow by 7-10% annually through 2025. This growth is particularly notable in cybersecurity, data analytics, and artificial intelligence sectors.
  • There is a persistent challenge of limited supply of qualified individuals in this market.
  • The total number of cleared job openings is at an all-time high, while the supply of candidates remains at an all-time low.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for DHI Group, Inc. (DHX) over the next 2-3 years:

  1. Growth in ClearanceJobs from Defense Spending and Product Enhancements: ClearanceJobs is anticipated to be a significant driver of future revenue growth, aiming for double-digit revenue growth. This is largely attributed to the approved $1 trillion defense budget, which is expected to be a meaningful catalyst for continued momentum. Additionally, the launch of new offerings like the ClearanceJobs Premium Candidate Subscription and the successful integration of acquisitions like AgileATS, which has doubled its revenue in less than six months, are enhancing the platform's capabilities and reach.
  2. Strategic Acquisitions: DHI Group views strategic acquisitions as a key component of its future growth strategy. The company has already demonstrated this through the acquisitions of Point Solutions Group and AgileATS, which expand government staffing and hiring capabilities and have shown promising initial growth.
  3. Leveraging AI and Platform Modernization: The company is focused on leveraging AI to enhance its recruitment capabilities and meet the growing demand for tech talent. This includes ongoing platform modernization efforts, particularly for Dice, to differentiate its offerings and position it for recovery in the commercial tech hiring environment. The integration of AI-powered tools and proprietary skills algorithms across its platforms aims to connect employers with qualified candidates more efficiently.
  4. Recovery in Commercial Tech Hiring Market: While the Dice platform has faced challenges due to a difficult macroeconomic environment and a soft commercial tech hiring market, DHI Group anticipates a recovery in the tech staffing sector, which accounts for 80% of Dice's revenue. This expected improvement in hiring conditions for technology professionals is projected to drive single-digit revenue growth for Dice.

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Share Repurchases

  • DHI Group announced a new $10 million share repurchase program in February 2026, authorized to run through February 2027.
  • The company repurchased $11.4 million in shares during 2025.
  • DHI suspended its share repurchase program in mid-2023 to prioritize debt reduction.

Outbound Investments

  • In March 2026, DHI Group acquired Point Solutions Group, an engineering and technology professional services firm, for an estimated $5.5 million ($5.0 million cash upfront, up to $0.5 million contingent on 2026 revenue goals), to enhance its ClearanceJobs brand.
  • The company acquired AgileATS, which helped double its revenue in under six months by Q4 2025.
  • During 2021, DHI invested $3.0 million through a convertible promissory note in a values-based career destination company; this investment was later revalued to $0.4 million in Q3 2023 after its financial position deteriorated, resulting in an impairment loss of $0.3 million.

Capital Expenditures

  • Capital expenditures, primarily capitalized development costs, were $7 million in 2025, a decrease from $12 million in 2024.
  • The primary focus of these capital expenditures is capitalized labor for software development across the company's platforms, such as ClearanceJobs and Dice websites.
  • DHI Group is targeting total capital expenditures between $6 million and $7 million for 2026.

Better Bets vs. DHI (DHX)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1DHI Earnings Notes12/16/2025
2Is DHI Stock Built to Withstand More Downside?10/17/2025
Title
0ARTICLES

Trade Ideas

Select ideas related to DHX.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ELF_4102026_Dip_Buyer_FCFYield04102026ELFe.l.f. BeautyDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-1.8%-1.8%-6.2%
IPAR_4022026_Dip_Buyer_ValueBuy04022026IPARInterparfumsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
0.7%0.7%-0.3%
COKE_4022026_Quality_Momentum_RoomToRun_10%04022026COKECoca-Cola ConsolidatedQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
5.5%5.5%-5.2%
MZTI_3272026_Dip_Buyer_FCFYield03272026MZTIMarzettiDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-5.0%-5.0%-8.6%
TAP_3272026_Dip_Buyer_FCFYield03272026TAPMolson Coors BeverageDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-1.5%-1.5%-2.3%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

DHXZIPASGNKFRCRHIUPWKMedian
NameDHI ZipRecru.ASGN Kforce Robert H.Upwork  
Mkt Price3.823.45-42.1126.548.808.80
Mkt Cap0.20.30.80.72.61.10.8
Rev LTM1254463,9801,3295,3277911,060
Op Inc LTM16-9230507412362
FCF LTM201128843218205124
FCF 3Y Avg114135761345141101
CFO LTM271732857267234146
CFO 3Y Avg245039572396162117

Growth & Margins

DHXZIPASGNKFRCRHIUPWKMedian
NameDHI ZipRecru.ASGN Kforce Robert H.Upwork  
Rev Chg LTM-9.4%-3.3%-2.9%-3.9%-6.1%2.5%-3.6%
Rev Chg 3Y Avg-6.6%-18.8%-4.5%-7.8%-9.2%7.5%-7.2%
Rev Chg Q-8.1%-2.3%-0.5%0.1%-3.8%1.4%-1.4%
QoQ Delta Rev Chg LTM-2.0%-0.6%-0.1%0.0%-1.0%0.4%-0.3%
Op Inc Chg LTM158.4%2.8%-24.3%-23.1%-68.9%35.8%-10.2%
Op Inc Chg 3Y Avg104.6%-46.5%-17.3%-23.3%-53.6%134.3%-20.3%
Op Mgn LTM12.9%-2.1%5.8%3.8%1.4%15.6%4.8%
Op Mgn 3Y Avg8.1%2.5%7.1%4.6%3.9%10.4%5.9%
QoQ Delta Op Mgn LTM2.0%2.2%-0.4%0.0%-0.0%-0.8%0.0%
CFO/Rev LTM21.8%3.9%8.2%4.3%5.0%29.6%6.6%
CFO/Rev 3Y Avg17.6%9.4%9.4%5.2%6.8%21.0%9.4%
FCF/Rev LTM16.3%2.4%7.2%3.3%4.1%26.0%5.7%
FCF/Rev 3Y Avg8.5%7.6%8.5%4.4%5.9%18.3%8.1%

Valuation

DHXZIPASGNKFRCRHIUPWKMedian
NameDHI ZipRecru.ASGN Kforce Robert H.Upwork  
Mkt Cap0.20.30.80.72.61.10.8
P/S1.30.60.20.50.51.40.6
P/Op Inc9.8-31.33.614.335.59.19.5
P/EBIT5,455.940.13.614.335.59.124.9
P/E-71.0-11.67.320.820.410.38.8
P/CFO5.816.62.512.69.94.87.9
Total Yield-1.4%-8.6%13.7%8.6%13.9%9.7%9.1%
Dividend Yield0.0%0.0%0.0%3.8%9.0%0.0%0.0%
FCF Yield 3Y Avg12.0%6.3%11.0%7.2%6.8%9.1%8.1%
D/E0.31.91.40.10.10.30.3
Net D/E0.20.61.20.1-0.0-0.20.2

Returns

DHXZIPASGNKFRCRHIUPWKMedian
NameDHI ZipRecru.ASGN Kforce Robert H.Upwork  
1M Rtn35.0%72.5%-44.7%49.2%12.5%-17.4%23.7%
3M Rtn46.4%64.3%-61.0%26.1%-6.5%-53.1%9.8%
6M Rtn126.0%-22.8%-55.1%43.8%7.6%-50.0%-7.6%
12M Rtn106.5%-20.9%-64.9%12.8%-36.1%-47.8%-28.5%
3Y Rtn20.9%-76.9%-69.8%-17.9%-54.7%10.1%-36.3%
1M Excs Rtn26.2%63.8%-53.4%40.4%3.8%-26.1%15.0%
3M Excs Rtn39.9%57.9%-67.4%19.7%-13.0%-59.6%3.4%
6M Excs Rtn101.9%-29.5%-65.5%32.6%-3.3%-55.8%-16.4%
12M Excs Rtn88.7%-70.5%-96.3%-19.2%-67.7%-77.4%-69.1%
3Y Excs Rtn-68.8%-161.4%-152.3%-100.2%-137.5%-72.3%-118.9%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Dice88    
ClearanceJobs (CJ)54    
Tech-focused 152150120111
Total142152150120111


Operating Income by Segment
$ Mil20252024202320222021
ClearanceJobs (CJ)24    
Dice18    
Amortization0    
Impairment of goodwill0    
Impairment of intangible assets0    
Other corporate expenses0    
Restructuring-1    
Impairment of right-of-use asset-7    
Severance, professional fees and related costs, and non-cash stock based compensation-10    
Depreciation-18    
Total6    


Price Behavior

Price Behavior
Market Price$3.82 
Market Cap ($ Bil)0.2 
First Trading Date07/18/2007 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$2.74$2.32
DMA Trendindeterminateup
Distance from DMA39.5%64.4%
 3M1YR
Volatility94.4%82.2%
Downside Capture0.140.58
Upside Capture203.59168.47
Correlation (SPY)14.3%14.2%
DHX Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta1.430.860.900.621.110.92
Up Beta0.02-0.19-1.47-0.40-0.020.66
Down Beta2.28-0.98-2.19-0.860.370.35
Up Capture79%165%413%195%310%160%
Bmk +ve Days15223166141428
Stock +ve Days10213261123347
Down Capture1125%174%175%119%147%110%
Bmk -ve Days4183056108321
Stock -ve Days11212958114363

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DHX
DHX114.8%82.3%1.28-
Sector ETF (XLP)5.3%12.6%0.14-6.5%
Equity (SPY)28.1%12.5%1.7815.2%
Gold (GLD)42.9%26.9%1.304.8%
Commodities (DBC)48.6%18.0%2.14-1.8%
Real Estate (VNQ)13.6%13.5%0.7017.0%
Bitcoin (BTCUSD)-22.4%41.7%-0.500.9%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DHX
DHX4.2%68.2%0.34-
Sector ETF (XLP)6.4%13.2%0.2711.3%
Equity (SPY)12.9%17.1%0.5924.1%
Gold (GLD)21.2%17.9%0.963.4%
Commodities (DBC)13.5%19.1%0.587.0%
Real Estate (VNQ)3.6%18.8%0.0921.5%
Bitcoin (BTCUSD)8.5%56.0%0.3612.1%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with DHX
DHX-6.2%67.3%0.20-
Sector ETF (XLP)7.5%14.7%0.3815.2%
Equity (SPY)15.0%17.9%0.7224.8%
Gold (GLD)13.4%15.9%0.701.6%
Commodities (DBC)9.5%17.7%0.4510.6%
Real Estate (VNQ)5.6%20.7%0.2419.7%
Bitcoin (BTCUSD)68.1%66.9%1.079.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date4302026
Short Interest: Shares Quantity0.4 Mil
Short Interest: % Change Since 41520266.5%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest2.1 days
Basic Shares Quantity41.4 Mil
Short % of Basic Shares0.8%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/202615.2%  
2/4/202615.7%44.6%61.4%
11/10/20253.0%4.1%-6.5%
8/6/2025-8.1%-17.7%9.6%
5/7/202527.9%39.0%74.3%
2/5/20257.5%7.5%-22.9%
11/12/2024-7.4%-3.4%5.1%
8/7/202416.9%-0.6%-7.3%
...
SUMMARY STATS   
# Positive171514
# Negative8910
Median Positive5.6%5.0%14.5%
Median Negative-9.0%-8.4%-7.7%
Max Positive27.9%44.6%74.3%
Max Negative-23.1%-24.9%-34.6%

SEC Filings

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Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/12/202610-K
09/30/202511/10/202510-Q
06/30/202508/06/202510-Q
03/31/202505/12/202510-Q
12/31/202402/12/202510-K
09/30/202411/12/202410-Q
06/30/202408/07/202410-Q
03/31/202405/10/202410-Q
12/31/202302/08/202410-K
09/30/202311/01/202310-Q
06/30/202308/02/202310-Q
03/31/202305/10/202310-Q
12/31/202202/10/202310-K
09/30/202211/02/202210-Q
06/30/202208/03/202210-Q

Recent Forward Guidance [BETA]

Latest: Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Revenue30.00 Mil31.00 Mil32.00 Mil6.9% Higher NewGuidance: 29.00 Mil for Q1 2026
2026 Revenue124.00 Mil126.00 Mil128.00 Mil5.0% RaisedGuidance: 120.00 Mil for 2026
2026 Adjusted EBITDA Margin 25.0% 00AffirmedGuidance: 25.0% for 2026

Prior: Q4 2025 Earnings Reported 2/4/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue28.00 Mil29.00 Mil30.00 Mil-4.9% LoweredGuidance: 30.50 Mil for Q4 2025
2026 Revenue118.00 Mil120.00 Mil122.00 Mil   
2026 Adjusted EBITDA Margin 25.0% -7.4%-2.0%LoweredGuidance: 27.0% for 2025

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Massaquoi, Joseph G JR DirectSell51120263.0926,61182,228425,348Form