NYSE : PLOW

Douglas Dynamics, Inc. — Financial statements

Consumer Discretionary · Auto Parts · United States

Last price 39.49 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 911.31M

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Financial statements

Douglas Dynamics, Inc. (PLOW) reported revenue of 699.10M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Revenue699.10M656.05M568.50M568.18M616.07M541.45M
Cost of Revenue508.21M481.35M421.67M433.91M464.61M399.58M
Gross Profit190.89M174.70M146.84M134.27M151.46M141.87M
Selling, General & Admin105.92M94.89M91.68M78.84M82.18M78.84M
Amortization of Goodwill & Intangibles6.12M6.18M7.52M10.52M10.52M10.68M
Operating Expenses112.04M101.07M99.20M89.36M92.70M89.53M
Operating Income78.85M73.63M47.63M44.91M58.75M52.35M
Interest Expense-11.14M-12.11M-15.26M-15.68M-11.25M-11.84M
Other Non Operating Income (Expenses)855.00K344.00K442.00K-139.00K228.00K
EBT Excluding Unusual Items68.56M61.86M32.82M29.23M47.36M40.73M
Merger & Restructuring Charges-78.00K-20.00K-1.22M
Gain (Loss) on Sale of Assets42.30M
Asset Writedown-1.21M
Other Unusual Items-332.00K-4.94M
Pretax Income68.48M61.51M73.89M29.23M47.36M34.59M
Income Tax Expense15.93M14.61M17.74M5.51M8.75M3.90M
Net Income52.55M46.90M56.15M23.72M38.61M30.69M
Preferred Dividends & Other Adjustments1.09M1.05M1.08M528.00K741.00K503.00K
Net Income to Common51.46M45.85M55.07M23.20M37.87M30.19M
Shares Outstanding (Basic)23.08M23.09M23.07M22.96M22.92M22.95M
Shares Outstanding (Diluted)23.58M23.62M23.51M22.96M22.92M22.96M
EPS (Basic)2.231.992.391.011.651.32
EPS (Diluted)2.201.962.360.981.631.29
Free Cash Flow48.91M63.56M33.32M1.95M27.98M49.33M
Free Cash Flow Per Share2.072.691.420.091.222.15
Dividend Per Share1.181.181.181.181.161.14
Gross Margin27.30%26.63%25.83%23.63%24.58%26.20%
Operating Margin11.28%11.22%8.38%7.90%9.54%9.67%
Profit Margin7.36%6.99%9.69%4.08%6.15%5.58%
Free Cash Flow Margin7.00%9.69%5.86%0.34%4.54%9.11%
EBITDA94.24M88.99M65.53M66.57M79.69M72.66M
EBITDA Margin13.48%13.56%11.53%11.72%12.93%13.42%
D&A For EBITDA15.39M15.36M17.89M21.66M20.94M20.32M
EBIT78.85M73.63M47.63M44.91M58.75M52.35M
EBIT Margin11.28%11.22%8.38%7.90%9.54%9.67%
Effective Tax Rate23.27%23.75%24.01%18.85%18.48%11.27%

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents1.88M8.30M5.12M24.16M20.67M36.96M
Trading Asset Securities495.00K461.00K1.71M3.17M4.12M
Cash & Short-Term Investments2.37M8.76M6.83M27.33M24.79M36.96M
Accounts Receivable156.63M97.56M87.41M83.76M86.77M71.03M
Other Receivables920.00K4.82M1.22M
Receivables156.63M98.48M87.41M88.58M86.77M72.26M
Inventory179.34M153.84M139.65M142.61M137.71M106.67M
Prepaid Expenses4.04M4.90M4.34M3.72M3.65M4.54M
Other Current Assets50.00K
Total Current Assets342.38M266.03M238.22M262.24M252.92M220.43M
Property, Plant & Equipment137.50M113.74M112.11M85.35M86.09M85.25M
Long-Term Investments1.14M237.00K628.00K859.00K2.92M
Goodwill116.78M116.78M113.13M113.13M113.13M113.13M
Other Intangible Assets113.23M116.27M113.55M121.07M131.59M142.11M
Other Long-Term Assets14.64M13.65M12.33M10.77M10.24M11.55M
Total Assets725.67M626.70M589.98M593.42M596.89M572.48M
Accounts Payable38.62M38.69M32.32M31.37M49.25M27.38M
Accrued Expenses20.38M20.77M16.27M13.71M19.67M22.23M
Short-Term Debt61.36M9.18M2.61M49.22M1.21M2.65M
Current Portion of Long-Term Debt7.42M7.42M6.76M11.14M14.62M
Current Portion of Leases9.78M7.15M7.39M5.35M4.86M4.62M
Current Income Taxes Payable5.14M1.69M3.48M
Other Current Liabilities15.68M12.64M9.91M12.11M10.82M10.41M
Total Current Liabilities158.38M95.85M70.19M118.52M100.43M81.92M
Long-Term Debt131.93M135.59M147.22M182.24M198.22M209.01M
Long-Term Leases80.02M60.13M64.78M13.89M14.03M15.41M
Pension & Post-Retirement Benefits15.93M14.95M13.62M13.92M14.65M17.17M
Long-Term Deferred Tax Liabilities34.10M33.10M24.57M27.90M29.84M29.79M
Other Long-Term Liabilities5.65M5.63M5.38M5.38M2.63M4.58M
Total Liabilities426.01M345.25M325.77M361.85M359.79M357.87M
Common Stock231.00K231.00K231.00K230.00K229.00K230.00K
Additional Paid-In Capital170.74M170.65M170.09M165.23M164.28M163.55M
Retained Earnings124.91M107.38M88.42M59.75M63.46M51.88M
Comprehensive Income & Other3.78M3.18M5.47M6.36M9.13M-1.05M
Shareholders' Equity299.66M281.45M264.21M231.56M237.10M214.61M
Total Liabilities & Equity725.67M626.70M589.98M593.42M596.89M572.48M
Total Debt290.51M219.48M222.02M257.45M229.45M246.31M
Net Cash (Debt)-288.14M-210.72M-215.19M-230.12M-204.66M-209.34M
Net Cash Per Share-12.22-8.92-9.15-10.02-8.93-9.12
Filing Date Shares Outstanding23.08M23.08M23.09M22.98M22.89M22.98M
Total Common Shares Outstanding23.07M23.07M23.09M22.98M22.89M22.98M
Working Capital184.00M170.19M168.03M143.72M152.49M138.51M
Book Value Per Share12.9912.2011.4410.0810.369.34
Tangible Book Value69.65M48.40M37.53M-2.64M-7.62M-40.63M
Tangible Book Value Per Share3.022.101.63-0.11-0.33-1.77
Land162.00K162.00K162.00K3.97M3.97M3.97M
Buildings2.96M2.96M2.96M36.72M35.86M34.63M
Machinery125.13M124.54M115.15M110.27M104.72M95.95M
Construction In Progress10.27M5.51M4.74M5.12M5.27M4.24M
Leasehold Improvements9.65M9.27M7.03M6.58M5.84M5.41M
Order Backlog328.00M348.00M

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income52.55M46.90M56.15M23.72M38.61M30.69M
Depreciation & Amortization15.39M15.36M17.89M21.66M20.94M20.32M
Other Amortization424.00K489.00K703.00K588.00K491.00K894.00K
Loss (Gain) From Sale of Assets664.00K-41.95M-56.00K111.00K-220.00K
Asset Writedown & Restructuring Costs1.22M1.21M
Stock-Based Compensation10.01M6.72M4.86M953.00K6.73M5.79M
Provision & Write-off of Bad Debts279.00K279.00K702.00K320.00K-1.48M67.00K
Other Operating Activities19.69M18.09M2.99M11.97M-2.93M7.13M
Change in Accounts Receivable-11.41M-6.10M-4.35M2.68M-14.25M12.09M
Change in Inventory-9.74M-672.00K3.36M-3.89M-32.48M-24.28M
Change in Accounts Payable-4.53M3.39M991.00K-17.12M21.52M10.42M
Change in Other Net Operating Assets-11.10M-9.77M-1.44M-28.36M2.77M-3.58M
Operating Cash Flow62.22M74.69M41.13M12.47M40.03M60.53M
Capital Expenditures-13.31M-11.13M-7.81M-10.52M-12.05M-11.21M
Cash Acquisitions-27.25M-26.33M
Other Investing Activities64.60M
Investing Cash Flow-40.56M-37.46M56.79M-10.52M-12.05M-11.21M
Short-Term Debt Issued5.00M47.00M
Long-Term Debt Issued148.77M750.00K224.44M
Total Debt Issued15.00M153.77M47.75M224.44M
Short-Term Debt Repaid-47.00M
Long-Term Debt Repaid-153.43M-42.20M-18.44M-11.25M-249.94M
Total Debt Repaid-7.62M-153.43M-89.20M-18.44M-11.25M-249.94M
Net Debt Issued (Repaid)7.38M338.00K-89.20M29.31M-11.25M-25.50M
Repurchase of Common Stock-6.90M-6.16M-6.00M
Common Dividends Paid-28.24M-27.94M-27.48M-27.44M-27.03M-26.52M
Other Financing Activities-293.00K-279.00K-334.00K-1.37M
Financing Cash Flow-27.76M-34.05M-116.96M1.54M-44.28M-53.39M
Net Cash Flow-6.11M3.18M-19.04M3.49M-16.29M-4.07M
Free Cash Flow48.91M63.56M33.32M1.95M27.98M49.33M
Free Cash Flow Margin7.00%9.69%5.86%0.34%4.54%9.11%
Free Cash Flow Per Share2.072.691.420.091.222.15
Levered Free Cash Flow34.30M35.91M42.39M-1.85M24.33M45.57M
Unlevered Free Cash Flow40.84M42.99M51.22M7.36M30.88M52.08M
Cash Interest Paid13.99M13.99M18.94M18.18M11.66M12.31M
Cash Income Tax Paid7.72M7.72M13.60M14.51M7.03M9.77M
Change in Working Capital-36.78M-13.15M-1.44M-46.69M-22.45M-5.35M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization921.70M752.28M545.71M682.16M827.59M897.64M
Enterprise Value1.21B1.04B824.11M978.68M1.13B1.18B
Last Close Price39.4931.9822.2326.6231.2132.52
PE Ratio18.1216.419.9129.4121.8629.73
Forward PE12.4813.8814.9615.9617.7520.41
PS Ratio1.311.150.961.201.341.66
PB Ratio3.042.672.062.953.494.18
P/TBV Ratio13.1915.5414.54
P/FCF Ratio18.7811.8416.38350.1929.5718.20
P/OCF Ratio14.7610.0713.2754.7120.6714.83
PEG Ratio0.750.651.071.331.482.27
EV/Sales Ratio1.731.581.451.721.842.19
EV/EBITDA Ratio12.8011.6512.5814.7014.2316.29
EV/EBIT Ratio15.3014.0817.3021.7919.3022.61
EV/FCF Ratio24.6716.3124.73502.4040.5224.00
Debt / Equity Ratio0.970.780.841.110.971.15
Debt / EBITDA Ratio2.652.132.973.532.683.13
Debt / FCF Ratio5.943.456.66132.168.204.99
Net Debt / Equity Ratio0.960.750.810.990.860.97
Net Debt / EBITDA Ratio3.062.373.283.462.572.88
Net Debt / FCF Ratio5.893.316.46118.137.314.24
Asset Turnover1.001.080.960.951.050.94
Inventory Turnover2.883.282.993.103.804.11
Quick Ratio1.001.121.340.981.111.33
Current Ratio2.162.783.392.212.522.69
Return on Equity (ROE)18.34%17.19%22.65%10.12%17.09%14.80%
Return on Assets (ROA)7.05%7.56%5.03%4.72%6.28%5.68%
Return on Invested Capital (ROIC)11.04%11.56%7.69%8.07%11.06%10.75%
Return on Capital Employed (ROCE)13.90%13.90%9.20%9.50%11.80%10.70%
Earnings Yield5.52%6.23%10.29%3.48%4.67%3.42%
FCF Yield5.33%8.45%6.11%0.29%3.38%5.50%
Dividend Yield2.94%3.62%4.99%3.98%3.21%2.92%
Payout Ratio53.54%59.57%48.93%115.67%70.00%86.42%
Buyback Yield / Dilution1.00%-0.47%-2.38%-0.21%0.21%-0.52%
Total Shareholder Return3.98%3.15%2.61%3.77%3.42%2.40%