Filing Flows › Distribution Solutions Group (DSGR) › How it makes money
How Distribution Solutions Group (DSGR) makes money
Distribution Solutions Group (DSGR) made $574M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. TestEquity brought in $242M (42%); Gexpro Services brought in $139M (24%); Lawson brought in $130M (23%). Of every dollar of revenue, 32¢ was left as gross profit, 4¢ was left as operating profit, 2¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| TestEquity | $242M | 42.2% | +6% | +17% |
| Gexpro Services | $139M | 24.3% | -0.3% | +7% |
| Lawson | $130M | 22.7% | +4% | +7% |
| Canada Branch Division | $62.0M | 10.8% | -3% | +4% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $574M | 100.0% |
| Cost of revenue | $390M | 68.0% |
| Gross profit | $184M | 32.0% |
| Operating expenses | $159M | 27.6% |
| Operating profit | $25.2M | 4.4% |
| Income tax | $2.4M | 0.4% |
| Net earnings | $8.9M | 1.6% |
| Operating cash flow | $18.7M | 3.3% |
| Free cash flow | $16.4M | 2.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $574M | +11% |
| Q2 2026 | $558M | +11% |
| Q1 2026 | $496M | +4% |
| Q4 2025 | $482M | +0.2% |
| Q3 2025 | $518M | +11% |
| Q2 2025 | $502M | +14% |
| Q1 2025 | $478M | +15% |
From Distribution Solutions Group's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Distribution Solutions Group make money?
Distribution Solutions Group (DSGR) made $574M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. TestEquity brought in $242M (42%); Gexpro Services brought in $139M (24%); Lawson brought in $130M (23%). Of every dollar of revenue, 32¢ was left as gross profit, 4¢ was left as operating profit, 2¢ was left as net earnings.
What is Distribution Solutions Group's biggest business?
TestEquity: $242M in the third quarter 2026, 42% of revenue, +17% from a year earlier.
What is Distribution Solutions Group's profit margin?
Net earnings were $8.9M, 1.6% of revenue, in the third quarter 2026; the operating margin was 4.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.