DHI Group
DHX on NYSE. DHI Group sells job listings and recruiting subscriptions to employers hiring technology workers. Market value $209m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $9.63 of spare cash in the past 12 months. A savings account pays about $4.
You pay 39.2 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 3 cents a year. Above 10 is good.
Quality score: 60 of 100. Price score: 36 of 100. Our list needs 70 on quality and 60 on price.
$4.81 a share, 234% above its 1-year low
Over the past year the price has ranged from $1.44 to $5.19.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $20 million in the past 12 months, $14 million in the year to December 2025.
| Revenue | |||||
| Revenue | $120m | $150m | $152m | $142m | $128m |
| Operating margin | |||||
| Operating margin | -1.5% | 3.7% | 4.1% | 4.5% | -8.9% |
| Debt to equity | |||||
| Debt to equity | 0.20 | 0.28 | 0.35 | 0.28 | 0.32 |
| Shares outstanding | |||||
| Shares outstanding | 0.05bn | 0.05bn | 0.05bn | 0.05bn | 0.04bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 9
- Profit backed by cash (accruals)No
- Debt0.32× equity
- Revenue growth, five yearsSlow, 2.8% a year
- Buying back its own sharesYes, 9% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $31 million last quarter, down 2% on a year ago.
- Profit: $3 million, after a loss of $841,000 a year ago.
- It keeps 5 cents of each $1 of sales as operating profit, after losing 6 cents a year earlier.
- Spare cash over the past 12 months: $20 million, up from $9 million.
- 7% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $28 million more than cash, up from $27 million a year ago.
- Sales did not grow on a year ago in any of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $35m |
| December 2024 | $35m |
| March 2025 | $32m |
| June 2025 | $32m |
| September 2025 | $32m |
| December 2025 | $31m |
| March 2026 | $30m |
| June 2026 | $31m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$200,000 |
| December 2024 | $1m |
| March 2025 | -$10m |
| June 2025 | -$841,000 |
| September 2025 | -$4m |
| December 2025 | $1m |
| March 2026 | $2m |
| June 2026 | $3m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
2 long-term investors we follow own it, unchanged from 2 last quarter. 78 funds in all.
- Auxier Asset ManagementJeff Auxier
- Value
- $37,100
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Royce & AssociatesChuck Royce | $4m | <0.1% | Added |
| Auxier Asset ManagementJeff Auxier | $37,100 | <0.1% |
Largest holders overall
- Nantahala Capital Management$18mAdded
- Pacific Ridge Capital Partners$12mCut
- Tieton Capital Management$12mCut
- Dimensional Fund Advisors LP$10mCut
- Renaissance Technologies$7mAdded
- Kennedy Capital Management$7m
- Acadian Asset Management$6m
- Vanguard Capital Management$6mCut
- Royce & Associates$4mAdded
- SEI Investments$3mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- Tieton Capital Management, LLCPassive investor7.5%+1.3 ptsSince 31 March 2026
- Pacific Ridge Capital Partners, LLCPassive investor7.3%+0.6 ptsSince 31 December 2025
- Dimensional Fund Advisors LPPassive investor6.8%Since 31 December 2024
- Nantahala Capital Management, LLCPassive investorat least 5.0%(filed with 2 related holders)Since 31 December 2025
- 22NW Fund, LPPassive investorat least 4.2%−2.6 pts(filed with 4 related holders)Since 30 September 2025
- Royce & AssociatesPassive investorSold down below 5%Since 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
Tieton Capital Management, LLC Passive investor | 7.5%+1.3 pts | 31 March 2026 | |
Pacific Ridge Capital Partners, LLC Passive investor | 7.3%+0.6 pts | 31 December 2025 | |
Dimensional Fund Advisors LP Passive investor | 6.8% | 31 December 2024 | |
Nantahala Capital Management, LLC Passive investor | at least 5.0% (filed with 2 related holders) | 31 December 2025 | |
22NW Fund, LP Passive investor | at least 4.2%−2.6 pts (filed with 4 related holders) | 30 September 2025 | |
Royce & Associates Passive investor | Sold down below 5% | 31 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $264,728, $82,228 of it under preset trading plans.
- Schildt AlexanderPresident, ClearanceJobsSold
- Date
- 12 May 2026
- Shares
- 30,000
- Price
- $3.53
- Value
- $105,900
- Swann Kathleen M.DirectorSold
- Date
- 11 May 2026
- Shares
- 20,000
- Price
- $3.83
- Value
- $76,600
- MASSAQUOI JOSEPH G JRDirectorSoldunder a preset trading plan
- Date
- 8 May 2026
- Shares
- 26,611
- Price
- $3.09
- Value
- $82,228
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 12 May 2026 | Schildt Alexander President, ClearanceJobs | Sold | 30,000 | $3.53 | $105,900 |
| 11 May 2026 | Swann Kathleen M. Director | Sold | 20,000 | $3.83 | $76,600 |
| 8 May 2026 | MASSAQUOI JOSEPH G JR Director | Sold under a preset trading plan | 26,611 | $3.09 | $82,228 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the serious warning signs we check for were found. 1 thing worth knowing.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 7 later 8-Ks.
Changed auditor
Worth knowingThe company changed its auditor (the firm that checks its books) in the last two years.
“On February 24, 2026 the Audit Committee of the Board of Directors of DHI Group, Inc. (the "Company") approved the dismissal of Deloitte & Touche LLP ("Deloitte") as the Company's independent registered public accounting firm, effective as of February 24, 2026.”
From an 8-K filed 26 February 2026: Change of auditor. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It isn't cheap on profits: 39.2× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.