Dun & Bradstreet Holdings, Inc. (DNB): History, Ownership, Mission, How It Works & Makes Money

Do you defintely know what drives a company like Dun & Bradstreet Holdings, Inc. (DNB), a business that is literally the backbone of commercial credit decisioning? With a projected 2025 total revenue guidance between $2.44 billion and $2.5 billion, and a Q2 2025 total revenue of $585.2 million, their influence on global commerce is massive, but their financial structure is complex.

We need to look past the top-line revenue-especially with the proposed $7.7 billion acquisition by Clearlake Capital Group, L.P.-to understand the real value drivers, like the $955 million to $985 million Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) they are forecasting for 2025. How does a firm with a mission to grow the most valuable relationships in business manage a total debt of over $3.5 billion while simultaneously navigating a major shift in ownership?

Dun & Bradstreet Holdings, Inc. (DNB) History

You're looking for the foundational story of Dun & Bradstreet Holdings, Inc. (DNB), and honestly, it's one of the longest-running financial narratives in American business. The modern company is a data and analytics powerhouse, but its roots stretch back over 180 years to the pre-Civil War era, starting with a simple need for reliable credit information.

The core of DNB's value proposition-objective, centralized business data-hasn't changed since 1841. It's just been digitized, scaled, and applied to everything from supply chain risk to sales intelligence. This long history gives the company its authoritative position, but it also means navigating a complex, multi-layered past, culminating in the major ownership shift expected in late 2025.

Given Company's Founding Timeline

Year established

The company traces its origin to July 20, 1841, with the founding of The Mercantile Agency.

Original location

New York City, New York.

Founding team members

The original founder was Lewis Tappan, an abolitionist merchant who saw the need for a centralized credit reporting system. The modern name is a result of a 1933 merger between Tappan's successor company, R.G. Dun & Company, and its chief rival, The Bradstreet Company, founded by John M. Bradstreet. The key figures in the company's early evolution are:

• Lewis Tappan (Founder of The Mercantile Agency)
• Robert Graham Dun (Acquired and renamed The Mercantile Agency in 1859)
• John M. Bradstreet (Founder of The Bradstreet Company in 1849)

Initial capital/funding

Specific initial capital for The Mercantile Agency in 1841 is not publicly documented, but the business was built on a network of correspondents who provided credit information. The concept itself was the initial asset. For context on modern capital, the company has raised a total of $100 million in funding over its modern history.

Given Company's Evolution Milestones

The company's trajectory shows a pattern of early expansion, a defining merger, and a recent shift between private and public ownership. This table highlights the critical moments that shaped DNB into its 2025 form.

Given Company's Transformative Moments

The biggest transformations for Dun & Bradstreet Holdings, Inc. have always centered on technology and ownership structure. The shift from a network of human correspondents to a massive data cloud is the long-term story, but the near-term pivots are what you need to watch.

The move to a public-private-public-private cycle shows a defintely high-stakes approach to value creation. Here's the quick math on the 2025 shift:

• The 1963 D-U-N-S Number: This was the company's first true leap into the Information Age. It standardized business identity globally, making their data scalable for computer processing and cementing their market dominance.
• The 2019 Take-Private: The investor consortium acquisition for $5.4 billion was a forced restructuring, designed to modernize legacy systems away from the public eye before the 2020 IPO.
• The 2025 Acquisition: The agreement with Clearlake Capital Group for a transaction valued at $7.7 billion, including debt, is the most recent, and arguably most significant, ownership change. This move takes the company private again, which often signals a new phase of intense operational change and debt management.

Looking at the 2025 numbers, the company reported Q1 2025 revenue of $579.8 million and Q2 2025 revenue of $585.2 million, with a full-year 2025 revenue target between $2.44 billion and $2.5 billion. This modest growth of 2.7% and 1.56% year-over-year in the first two quarters of 2025, respectively, shows the core business is stable, but not a runaway growth story, which is likely a key driver for the private equity exit. The new owners will be focused on hitting that forecasted 2025 Adjusted EBITDA of $955 million to $985 million.

For a deeper dive into what drives their strategy, you should review their core principles: Mission Statement, Vision, & Core Values of Dun & Bradstreet Holdings, Inc. (DNB).

Dun & Bradstreet Holdings, Inc. (DNB) Ownership Structure

As of November 2025, Dun & Bradstreet Holdings, Inc. is a privately held company, having been taken private in a $7.7 billion transaction that was completed in August 2025.

The company is now controlled by a consortium of private equity firms, led by Clearlake Capital Group, L.P., which now steers the strategic direction and governance after acquiring the company's equity for $9.15 per share in cash. This is a significant shift from its previous structure as a publicly traded entity on the New York Stock Exchange (NYSE: DNB).

Given Company's Current Status

Dun & Bradstreet Holdings, Inc. is no longer a public company; it is a privately held entity. The acquisition by Clearlake Capital Group, L.P. was completed on August 26, 2025, and the stock ceased trading, delisting from the NYSE. [cite: 7, 9 in second search]

This move allows the new owners to execute a long-term strategy, focusing on operational improvements and leveraging its data cloud for AI-powered solutions without the quarter-to-quarter pressure of the public market. The company is now backed by a firm with over $90 billion of assets under management. [cite: 9 in second search]

For the 2025 fiscal year, the company is still projected to deliver strong results, with consensus full-year revenue estimated at $2.46 billion and an adjusted EBITDA forecast around $970 million. [cite: 6 in first search, 1 in first search] That's a massive business, still growing.

You can see the strategic focus behind this move, aiming for long-term growth and innovation, in the Mission Statement, Vision, & Core Values of Dun & Bradstreet Holdings, Inc. (DNB).

Given Company's Ownership Breakdown

The company's ownership is concentrated among the private equity consortium that funded the $4.1 billion equity value of the take-private deal. While the exact split among the co-investors is not public, Clearlake Capital Group, L.P. is the clear controlling partner, often partnering with other institutional investors for financing. [cite: 8 in second search, 9 in second search]

Given Company's Leadership

The leadership team saw a change at the top following the acquisition, which is common in a private equity take-private. Clearlake Capital Group, L.P. installed a new Chief Executive Officer (CEO) to drive the next phase of growth and operational efficiency.

• Stephen Tulenko: Appointed Chief Executive Officer in September 2025, succeeding Anthony Jabbour. Tulenko brings decades of experience, having previously served as President of Moody's Analytics. [cite: 15 in first search]
• William P. Foley II: Continues to serve as Executive Chairman. He was a key figure in the prior investor consortium and remains influential in the company's strategic direction. [cite: 2 in second search]
• Bryan Hipsher: Serves as Chief Financial Officer. He is responsible for managing the company's financials, including the projected $1.04 Adjusted EPS for the fiscal year 2025. [cite: 9 in first search, 1 in first search]
• Ginny Gomez: President, North America, overseeing the region that generates the majority of the company's revenue. [cite: 9 in first search]
• Neeraj Sahai: President, International, responsible for driving growth across the U.K., Europe, Greater China, and other global alliances. [cite: 9 in first search]

This new structure, with a fresh CEO and private equity backing, is defintely focused on accelerating the use of AI and vertical-specific solutions to maximize the value of the company's vast data assets.

Dun & Bradstreet Holdings, Inc. (DNB) Mission and Values

Dun & Bradstreet Holdings, Inc.'s core purpose transcends simply selling data; it's about building a global network of trust to help businesses move from uncertainty to confidence. This foundational mission is especially critical as the company manages its transition to private ownership following the $7.7 billion acquisition agreement with Clearlake Capital Group in early 2025.

Their cultural DNA, rooted in over a century and a half of history, is what guides their strategy, which saw 2024 revenue hit $2.38 billion.

Given Company's Core Purpose

The company's mission and values are the bedrock of its operations, showing you exactly where they focus their resources-on high-quality data and strong customer relationships. This is how a company founded in 1841 stays relevant in the age of artificial intelligence (AI).

Official mission statement

The formal mission statement for Dun & Bradstreet Holdings, Inc. is a powerful declaration of their role in the global economy, positioning them as an enabler of business transformation.

• Deliver a global network of trust.
• Enable clients to transform uncertainty into confidence.
• Help clients turn risk into opportunity and potential into prosperity.

The mission is a high-level promise, but it translates into concrete actions, like providing the 500 million business records in their Data Cloud that companies worldwide rely on for critical decisions.

Vision statement

The vision statement sets a clear, ambitious target for market leadership, focusing on the ultimate utility of their product: better decision-making.

• To be a leading global provider of business decisioning data and analytics.

This vision is a realist's goal. They already have a strong foothold, with the North American segment generating the maximum revenue, and the focus remains on leveraging their unique D-U-N-S Number (Data Universal Numbering System) as a strategic advantage.

Given Company slogan/tagline

The company's tagline is a concise summary of its brand purpose, linking its historical strength in relationship-building with its modern core product: data.

• Growing relationships through data.

This simple phrase explains why their core values are so important. They are defintely a data company, but they know their success hinges on people trusting that data and the insights it provides. Their three core values-Data-Inspired, Relentlessly Curious, and Inherently Generous-are the 'how' behind this tagline.

• Data-Inspired: Passionate about the power of data; it's central to everything they do.
• Relentlessly Curious: Embrace change and new problems to solve, always looking for new ways to grow.
• Inherently Generous: Succeed by helping others succeed, openly sharing time and talent.

You can learn more about how these principles guide their strategy here: Mission Statement, Vision, & Core Values of Dun & Bradstreet Holdings, Inc. (DNB).

Dun & Bradstreet Holdings, Inc. (DNB) How It Works

Dun & Bradstreet Holdings, Inc. (DNB) operates as a leading global provider of business decisioning data and analytics, turning a massive, proprietary database of commercial information into actionable insights for businesses. The company essentially acts as a vital information utility, enabling clients to manage financial risk, minimize fraud, and optimize sales and marketing strategies across a global network of over 595 million business records.

You're looking for clarity on how this century-old data giant actually makes money today, and honestly, it boils down to two core segments: Finance & Risk, and Sales & Marketing. For the first half of 2025, the company reported total revenue of $1.165 billion (Q1: $579.8 million; Q2: $585.2 million), with the North America segment driving the majority of that growth.

Dun & Bradstreet Holdings, Inc. (DNB) Product/Service Portfolio

The company's offerings are segmented into two primary solutions, with the Finance & Risk segment consistently generating the largest share of revenue. In Q2 2025, for instance, North America Finance & Risk revenue was $212.6 million, while Sales & Marketing was $185.3 million. Here's a look at the core products that drive that revenue.

Dun & Bradstreet Holdings, Inc. (DNB) Operational Framework

The entire operation is built on the foundation of the D&B Data Cloud, which is a massive, live repository of business intelligence. Think of it as a continuous, three-step process: Collect, Curate, and Deliver. This is the engine. The company is defintely investing heavily in technology, anticipating capital expenditures in the range of $190 million to $200 million in 2025, primarily for technology infrastructure improvements.

• Collect Global Data: The company sources data from tens of thousands of global sources, including public records, trade experiences, and firmographic data, to maintain over 595 million business records.
• Curate and Connect: Proprietary technology, including advanced analytics and generative AI solutions, is used to clean, link, and structure this raw data, assigning the unique D-U-N-S Number to each entity to create a single, unified view of a business.
• Deliver Actionable Insights: Solutions are delivered via cloud-based platforms and APIs (Application Programming Interfaces) directly into clients' workflows, such as CRM, ERP, and procurement systems, ensuring the data is instantly usable for decision-making.
• Operate Globally: The operational model uses a mix of owned, majority-controlled, and alliance markets to secure critical global data, particularly in regions like the U.K., Greater China, and India.

Here's the quick math: more data points, better linking, more valuable the final insight. If you want to dive deeper into the numbers, you should check out Breaking Down Dun & Bradstreet Holdings, Inc. (DNB) Financial Health: Key Insights for Investors.

Dun & Bradstreet Holdings, Inc. (DNB) Strategic Advantages

The company's market success isn't just about having data; it's about the quality, depth, and integration of that data. The long-term advantage is a deep moat built over decades. Management is forecasting 2025 Adjusted EBITDA between $955 million and $985 million, which shows the profitability power of this model.

• The D-U-N-S Number Standard: This unique identifier is a global standard for identifying and tracking business entities, giving the company a powerful, entrenched position in credit, finance, and government ecosystems.
• Data Moat and Scale: The sheer size of the D&B Data Cloud, with over 595 million records, creates a barrier to entry for competitors who cannot easily replicate the depth and breadth of this historical and real-time commercial data.
• Embedded Workflow Integration: By delivering data directly into client systems via APIs and cloud solutions, the company becomes an essential, sticky part of the customer's daily operational and decision-making processes.
• Verticalized Go-to-Market Strategy: The 2025 strategy focuses on a verticalized approach, tailoring solutions to speak the language of specific industries, which increases relevance and cross-selling opportunities across its approximately 215,000 global clients.

Dun & Bradstreet Holdings, Inc. (DNB) How It Makes Money

Dun & Bradstreet Holdings, Inc. makes money by selling access to its proprietary global database of business data and analytical insights, primarily through subscription-based software and data solutions that help clients manage risk and accelerate growth.

The company's revenue engine is fueled by its status as the authoritative source for business decisioning data, specifically the D-U-N-S Number (Data Universal Numbering System), which acts like a social security number for businesses and is often required for commercial and government transactions.

Dun & Bradstreet Holdings, Inc.'s Revenue Breakdown

The business is structured around two core solution sets, with the Finance & Risk segment consistently generating the majority of the revenue. Based on the Q2 2025 financial results, the total revenue for the quarter was $585.2 million, reflecting a slight increase year-over-year.

Here's the quick math on the Q2 2025 revenue split, which clearly shows where the company's core value proposition lies-in mitigating financial risk for its clients.

The Finance & Risk Solutions segment, which brought in approximately $341.0 million in Q2 2025, includes products like credit reports, risk scores (such as the Paydex score), and compliance tools. The Sales & Marketing Solutions segment, contributing about $244.2 million, focuses on data to help clients find new customers and enrich their Customer Relationship Management (CRM) systems.

Business Economics

The economic fundamentals of Dun & Bradstreet Holdings, Inc. are powerful, typical of a high-quality data and analytics firm. Honestly, this is a classic recurring revenue model with high barriers to entry.

• High Switching Costs: The integration of the D-U-N-S Number into client Enterprise Resource Planning (ERP) and compliance systems creates a significant lock-in effect. Once a client builds their internal processes around D&B data, switching is defintely expensive and risky.
• Recurring Revenue: A vast majority of revenue is subscription-based, giving the company strong revenue visibility and stability. This model translates to high customer retention rates, which is the lifeblood of any data business.
• Pricing Power: The proprietary nature of the data, especially the global commercial graph and the D-U-N-S identifier, grants the company significant pricing power. They are selling a necessary utility for risk management and regulatory compliance.
• High Incremental Margins: The cost to deliver an additional data product or insight is very low once the massive fixed cost of data collection, curation, and platform modernization is covered. This leads to high incremental margins on new revenue.
• Strategic Shift: The company is actively investing in verticalized go-to-market strategies and generative AI solutions to drive organic constant currency revenue growth, which was projected to range from 3% to 5% for the full year 2025.

Dun & Bradstreet Holdings, Inc.'s Financial Performance

While the business model is inherently strong, the near-term financial performance in 2025 shows a mixed picture, reflecting both modernization costs and market headwinds. What this estimate hides is the impact of the company's acquisition by Clearlake Capital Group, L.P., which was expected to close in Q3 2025, taking the company private.

• Total Revenue: The full-year 2025 revenue guidance is projected to be between $2.44 billion and $2.5 billion, representing a growth of 2.5% to 5% over 2024.
• Adjusted EBITDA: The forecast for Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for 2025 is between $955 million and $985 million.
• Operating Profitability: Operating Income in Q2 2025 was $12.8 million, a significant drop from $37.1 million in the same period of 2024, indicating pressure on operating profitability, likely due to higher costs associated with platform modernization and the strategic review process.
• Net Loss: The GAAP Net Loss attributable to the company for Q2 2025 was $(33.7) million, a decline from the $(16.4) million loss in Q2 2024.
• Adjusted EPS: Adjusted Earnings Per Share (EPS) for Q2 2025 was $0.19 per diluted share, down from $0.23 in the prior year quarter. Full-year 2025 adjusted EPS guidance is in the range of $1.01 to $1.07.
• Leverage: The company is focused on managing its debt, anticipating a net leverage ratio of 3.25x by year-end 2025.

If you want to dive deeper into how these metrics translate into a sustainable long-term investment thesis, you should check out Breaking Down Dun & Bradstreet Holdings, Inc. (DNB) Financial Health: Key Insights for Investors.

Dun & Bradstreet Holdings, Inc. (DNB) Market Position & Future Outlook

Dun & Bradstreet Holdings, Inc. (DNB) is positioned for a period of focused execution, aiming to translate its foundational data assets into higher-margin, AI-driven solutions, which should drive revenue toward the high end of its $2.44 billion to $2.5 billion 2025 guidance. You are looking at a company that is defintely leveraging its market-leading commercial data to capture growth in the risk and marketing sectors, but it must navigate a heavy debt load and the distraction of its ongoing strategic review to get there.

Competitive Landscape

In the commercial credit and business intelligence space, Dun & Bradstreet's core strength remains its proprietary data identifier, the Data Universal Numbering System (D-U-N-S Number), which is a non-negotiable requirement for many government contracts and large enterprise supply chains. Still, the market is fragmented, and direct competitors like Experian and Equifax offer compelling integrated consumer/commercial data sets.

Here's the quick math: while DNB holds a small slice of the broader data-analytics market, its true competitive moat is in the commercial credit bureau segment where it is the most widely recognized player. The D-U-N-S Number is the gold standard for business identity, and that's a powerful barrier to entry.

Opportunities & Challenges

The company's future trajectory hinges on successfully pivoting from simply selling data to delivering sophisticated, integrated solutions. You should watch two key areas: the adoption of its new vertical-specific solutions and the progress on its platform modernization, which is expected to cost between $190 million and $200 million in capital expenditures in 2025. [cite: 1, 2 (from step 1)]

Industry Position

Dun & Bradstreet is a cornerstone of the global corporate credit reporting service market, which is valued at an estimated $15 billion in 2025. [cite: 1 (from step 2)] Its position is cemented by its long history and the sheer scale of its Data Cloud, which includes nearly 600 million organizations globally. [cite: 1 (from step 1)]

The company is the most widely recognized business credit bureau, especially for its PAYDEX score, which measures a business's payment performance. Its focus on large enterprises, which account for the majority of the market share in corporate credit reporting, gives it a defensible position against competitors who are often stronger in the consumer or small-to-medium enterprise (SME) space. You can see the detailed breakdown of who is investing in this core thesis by Exploring Dun & Bradstreet Holdings, Inc. (DNB) Investor Profile: Who's Buying and Why?

• DNB is a dominant force in B2B credit and risk management.
• The company's 2025 Adjusted EBITDA is forecasted to be between $955 million and $985 million. [cite: 2 (from step 1)]
• North America remains the largest revenue contributor, accounting for 70% of total revenue. [cite: 1 (from step 1)]
• Strategic initiatives are tightly focused on leveraging AI to maintain its data supremacy.

The challenge is maintaining profitability; the net margin of 1.23% as of late 2024 shows there's work to do on cost management despite the high revenue. [cite: 13 (from step 1)]