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
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
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.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 699.10M | 656.05M | 568.50M | 568.18M | 616.07M | 541.45M |
| Cost of Revenue | 508.21M | 481.35M | 421.67M | 433.91M | 464.61M | 399.58M |
| Gross Profit | 190.89M | 174.70M | 146.84M | 134.27M | 151.46M | 141.87M |
| Selling, General & Admin | 105.92M | 94.89M | 91.68M | 78.84M | 82.18M | 78.84M |
| Amortization of Goodwill & Intangibles | 6.12M | 6.18M | 7.52M | 10.52M | 10.52M | 10.68M |
| Operating Expenses | 112.04M | 101.07M | 99.20M | 89.36M | 92.70M | 89.53M |
| Operating Income | 78.85M | 73.63M | 47.63M | 44.91M | 58.75M | 52.35M |
| Interest Expense | -11.14M | -12.11M | -15.26M | -15.68M | -11.25M | -11.84M |
| Other Non Operating Income (Expenses) | 855.00K | 344.00K | 442.00K | -139.00K | 228.00K | |
| EBT Excluding Unusual Items | 68.56M | 61.86M | 32.82M | 29.23M | 47.36M | 40.73M |
| Merger & Restructuring Charges | -78.00K | -20.00K | -1.22M | |||
| Gain (Loss) on Sale of Assets | 42.30M | |||||
| Asset Writedown | -1.21M | |||||
| Other Unusual Items | -332.00K | -4.94M | ||||
| Pretax Income | 68.48M | 61.51M | 73.89M | 29.23M | 47.36M | 34.59M |
| Income Tax Expense | 15.93M | 14.61M | 17.74M | 5.51M | 8.75M | 3.90M |
| Net Income | 52.55M | 46.90M | 56.15M | 23.72M | 38.61M | 30.69M |
| Preferred Dividends & Other Adjustments | 1.09M | 1.05M | 1.08M | 528.00K | 741.00K | 503.00K |
| Net Income to Common | 51.46M | 45.85M | 55.07M | 23.20M | 37.87M | 30.19M |
| Shares Outstanding (Basic) | 23.08M | 23.09M | 23.07M | 22.96M | 22.92M | 22.95M |
| Shares Outstanding (Diluted) | 23.58M | 23.62M | 23.51M | 22.96M | 22.92M | 22.96M |
| EPS (Basic) | 2.23 | 1.99 | 2.39 | 1.01 | 1.65 | 1.32 |
| EPS (Diluted) | 2.20 | 1.96 | 2.36 | 0.98 | 1.63 | 1.29 |
| Free Cash Flow | 48.91M | 63.56M | 33.32M | 1.95M | 27.98M | 49.33M |
| Free Cash Flow Per Share | 2.07 | 2.69 | 1.42 | 0.09 | 1.22 | 2.15 |
| Dividend Per Share | 1.18 | 1.18 | 1.18 | 1.18 | 1.16 | 1.14 |
| Gross Margin | 27.30% | 26.63% | 25.83% | 23.63% | 24.58% | 26.20% |
| Operating Margin | 11.28% | 11.22% | 8.38% | 7.90% | 9.54% | 9.67% |
| Profit Margin | 7.36% | 6.99% | 9.69% | 4.08% | 6.15% | 5.58% |
| Free Cash Flow Margin | 7.00% | 9.69% | 5.86% | 0.34% | 4.54% | 9.11% |
| EBITDA | 94.24M | 88.99M | 65.53M | 66.57M | 79.69M | 72.66M |
| EBITDA Margin | 13.48% | 13.56% | 11.53% | 11.72% | 12.93% | 13.42% |
| D&A For EBITDA | 15.39M | 15.36M | 17.89M | 21.66M | 20.94M | 20.32M |
| EBIT | 78.85M | 73.63M | 47.63M | 44.91M | 58.75M | 52.35M |
| EBIT Margin | 11.28% | 11.22% | 8.38% | 7.90% | 9.54% | 9.67% |
| Effective Tax Rate | 23.27% | 23.75% | 24.01% | 18.85% | 18.48% | 11.27% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.88M | 8.30M | 5.12M | 24.16M | 20.67M | 36.96M |
| Trading Asset Securities | 495.00K | 461.00K | 1.71M | 3.17M | 4.12M | |
| Cash & Short-Term Investments | 2.37M | 8.76M | 6.83M | 27.33M | 24.79M | 36.96M |
| Accounts Receivable | 156.63M | 97.56M | 87.41M | 83.76M | 86.77M | 71.03M |
| Other Receivables | 920.00K | 4.82M | 1.22M | |||
| Receivables | 156.63M | 98.48M | 87.41M | 88.58M | 86.77M | 72.26M |
| Inventory | 179.34M | 153.84M | 139.65M | 142.61M | 137.71M | 106.67M |
| Prepaid Expenses | 4.04M | 4.90M | 4.34M | 3.72M | 3.65M | 4.54M |
| Other Current Assets | 50.00K | |||||
| Total Current Assets | 342.38M | 266.03M | 238.22M | 262.24M | 252.92M | 220.43M |
| Property, Plant & Equipment | 137.50M | 113.74M | 112.11M | 85.35M | 86.09M | 85.25M |
| Long-Term Investments | 1.14M | 237.00K | 628.00K | 859.00K | 2.92M | |
| Goodwill | 116.78M | 116.78M | 113.13M | 113.13M | 113.13M | 113.13M |
| Other Intangible Assets | 113.23M | 116.27M | 113.55M | 121.07M | 131.59M | 142.11M |
| Other Long-Term Assets | 14.64M | 13.65M | 12.33M | 10.77M | 10.24M | 11.55M |
| Total Assets | 725.67M | 626.70M | 589.98M | 593.42M | 596.89M | 572.48M |
| Accounts Payable | 38.62M | 38.69M | 32.32M | 31.37M | 49.25M | 27.38M |
| Accrued Expenses | 20.38M | 20.77M | 16.27M | 13.71M | 19.67M | 22.23M |
| Short-Term Debt | 61.36M | 9.18M | 2.61M | 49.22M | 1.21M | 2.65M |
| Current Portion of Long-Term Debt | 7.42M | 7.42M | 6.76M | 11.14M | 14.62M | |
| Current Portion of Leases | 9.78M | 7.15M | 7.39M | 5.35M | 4.86M | 4.62M |
| Current Income Taxes Payable | 5.14M | 1.69M | 3.48M | |||
| Other Current Liabilities | 15.68M | 12.64M | 9.91M | 12.11M | 10.82M | 10.41M |
| Total Current Liabilities | 158.38M | 95.85M | 70.19M | 118.52M | 100.43M | 81.92M |
| Long-Term Debt | 131.93M | 135.59M | 147.22M | 182.24M | 198.22M | 209.01M |
| Long-Term Leases | 80.02M | 60.13M | 64.78M | 13.89M | 14.03M | 15.41M |
| Pension & Post-Retirement Benefits | 15.93M | 14.95M | 13.62M | 13.92M | 14.65M | 17.17M |
| Long-Term Deferred Tax Liabilities | 34.10M | 33.10M | 24.57M | 27.90M | 29.84M | 29.79M |
| Other Long-Term Liabilities | 5.65M | 5.63M | 5.38M | 5.38M | 2.63M | 4.58M |
| Total Liabilities | 426.01M | 345.25M | 325.77M | 361.85M | 359.79M | 357.87M |
| Common Stock | 231.00K | 231.00K | 231.00K | 230.00K | 229.00K | 230.00K |
| Additional Paid-In Capital | 170.74M | 170.65M | 170.09M | 165.23M | 164.28M | 163.55M |
| Retained Earnings | 124.91M | 107.38M | 88.42M | 59.75M | 63.46M | 51.88M |
| Comprehensive Income & Other | 3.78M | 3.18M | 5.47M | 6.36M | 9.13M | -1.05M |
| Shareholders' Equity | 299.66M | 281.45M | 264.21M | 231.56M | 237.10M | 214.61M |
| Total Liabilities & Equity | 725.67M | 626.70M | 589.98M | 593.42M | 596.89M | 572.48M |
| Total Debt | 290.51M | 219.48M | 222.02M | 257.45M | 229.45M | 246.31M |
| 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 Outstanding | 23.08M | 23.08M | 23.09M | 22.98M | 22.89M | 22.98M |
| Total Common Shares Outstanding | 23.07M | 23.07M | 23.09M | 22.98M | 22.89M | 22.98M |
| Working Capital | 184.00M | 170.19M | 168.03M | 143.72M | 152.49M | 138.51M |
| Book Value Per Share | 12.99 | 12.20 | 11.44 | 10.08 | 10.36 | 9.34 |
| Tangible Book Value | 69.65M | 48.40M | 37.53M | -2.64M | -7.62M | -40.63M |
| Tangible Book Value Per Share | 3.02 | 2.10 | 1.63 | -0.11 | -0.33 | -1.77 |
| Land | 162.00K | 162.00K | 162.00K | 3.97M | 3.97M | 3.97M |
| Buildings | 2.96M | 2.96M | 2.96M | 36.72M | 35.86M | 34.63M |
| Machinery | 125.13M | 124.54M | 115.15M | 110.27M | 104.72M | 95.95M |
| Construction In Progress | 10.27M | 5.51M | 4.74M | 5.12M | 5.27M | 4.24M |
| Leasehold Improvements | 9.65M | 9.27M | 7.03M | 6.58M | 5.84M | 5.41M |
| Order Backlog | 328.00M | 348.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 52.55M | 46.90M | 56.15M | 23.72M | 38.61M | 30.69M |
| Depreciation & Amortization | 15.39M | 15.36M | 17.89M | 21.66M | 20.94M | 20.32M |
| Other Amortization | 424.00K | 489.00K | 703.00K | 588.00K | 491.00K | 894.00K |
| Loss (Gain) From Sale of Assets | 664.00K | -41.95M | -56.00K | 111.00K | -220.00K | |
| Asset Writedown & Restructuring Costs | 1.22M | 1.21M | ||||
| Stock-Based Compensation | 10.01M | 6.72M | 4.86M | 953.00K | 6.73M | 5.79M |
| Provision & Write-off of Bad Debts | 279.00K | 279.00K | 702.00K | 320.00K | -1.48M | 67.00K |
| Other Operating Activities | 19.69M | 18.09M | 2.99M | 11.97M | -2.93M | 7.13M |
| Change in Accounts Receivable | -11.41M | -6.10M | -4.35M | 2.68M | -14.25M | 12.09M |
| Change in Inventory | -9.74M | -672.00K | 3.36M | -3.89M | -32.48M | -24.28M |
| Change in Accounts Payable | -4.53M | 3.39M | 991.00K | -17.12M | 21.52M | 10.42M |
| Change in Other Net Operating Assets | -11.10M | -9.77M | -1.44M | -28.36M | 2.77M | -3.58M |
| Operating Cash Flow | 62.22M | 74.69M | 41.13M | 12.47M | 40.03M | 60.53M |
| Capital Expenditures | -13.31M | -11.13M | -7.81M | -10.52M | -12.05M | -11.21M |
| Cash Acquisitions | -27.25M | -26.33M | ||||
| Other Investing Activities | 64.60M | |||||
| Investing Cash Flow | -40.56M | -37.46M | 56.79M | -10.52M | -12.05M | -11.21M |
| Short-Term Debt Issued | 5.00M | 47.00M | ||||
| Long-Term Debt Issued | 148.77M | 750.00K | 224.44M | |||
| Total Debt Issued | 15.00M | 153.77M | 47.75M | 224.44M | ||
| 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) | 7.38M | 338.00K | -89.20M | 29.31M | -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 | -116.96M | 1.54M | -44.28M | -53.39M |
| Net Cash Flow | -6.11M | 3.18M | -19.04M | 3.49M | -16.29M | -4.07M |
| Free Cash Flow | 48.91M | 63.56M | 33.32M | 1.95M | 27.98M | 49.33M |
| Free Cash Flow Margin | 7.00% | 9.69% | 5.86% | 0.34% | 4.54% | 9.11% |
| Free Cash Flow Per Share | 2.07 | 2.69 | 1.42 | 0.09 | 1.22 | 2.15 |
| Levered Free Cash Flow | 34.30M | 35.91M | 42.39M | -1.85M | 24.33M | 45.57M |
| Unlevered Free Cash Flow | 40.84M | 42.99M | 51.22M | 7.36M | 30.88M | 52.08M |
| Cash Interest Paid | 13.99M | 13.99M | 18.94M | 18.18M | 11.66M | 12.31M |
| Cash Income Tax Paid | 7.72M | 7.72M | 13.60M | 14.51M | 7.03M | 9.77M |
| Change in Working Capital | -36.78M | -13.15M | -1.44M | -46.69M | -22.45M | -5.35M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 921.70M | 752.28M | 545.71M | 682.16M | 827.59M | 897.64M |
| Enterprise Value | 1.21B | 1.04B | 824.11M | 978.68M | 1.13B | 1.18B |
| Last Close Price | 39.49 | 31.98 | 22.23 | 26.62 | 31.21 | 32.52 |
| PE Ratio | 18.12 | 16.41 | 9.91 | 29.41 | 21.86 | 29.73 |
| Forward PE | 12.48 | 13.88 | 14.96 | 15.96 | 17.75 | 20.41 |
| PS Ratio | 1.31 | 1.15 | 0.96 | 1.20 | 1.34 | 1.66 |
| PB Ratio | 3.04 | 2.67 | 2.06 | 2.95 | 3.49 | 4.18 |
| P/TBV Ratio | 13.19 | 15.54 | 14.54 | |||
| P/FCF Ratio | 18.78 | 11.84 | 16.38 | 350.19 | 29.57 | 18.20 |
| P/OCF Ratio | 14.76 | 10.07 | 13.27 | 54.71 | 20.67 | 14.83 |
| PEG Ratio | 0.75 | 0.65 | 1.07 | 1.33 | 1.48 | 2.27 |
| EV/Sales Ratio | 1.73 | 1.58 | 1.45 | 1.72 | 1.84 | 2.19 |
| EV/EBITDA Ratio | 12.80 | 11.65 | 12.58 | 14.70 | 14.23 | 16.29 |
| EV/EBIT Ratio | 15.30 | 14.08 | 17.30 | 21.79 | 19.30 | 22.61 |
| EV/FCF Ratio | 24.67 | 16.31 | 24.73 | 502.40 | 40.52 | 24.00 |
| Debt / Equity Ratio | 0.97 | 0.78 | 0.84 | 1.11 | 0.97 | 1.15 |
| Debt / EBITDA Ratio | 2.65 | 2.13 | 2.97 | 3.53 | 2.68 | 3.13 |
| Debt / FCF Ratio | 5.94 | 3.45 | 6.66 | 132.16 | 8.20 | 4.99 |
| Net Debt / Equity Ratio | 0.96 | 0.75 | 0.81 | 0.99 | 0.86 | 0.97 |
| Net Debt / EBITDA Ratio | 3.06 | 2.37 | 3.28 | 3.46 | 2.57 | 2.88 |
| Net Debt / FCF Ratio | 5.89 | 3.31 | 6.46 | 118.13 | 7.31 | 4.24 |
| Asset Turnover | 1.00 | 1.08 | 0.96 | 0.95 | 1.05 | 0.94 |
| Inventory Turnover | 2.88 | 3.28 | 2.99 | 3.10 | 3.80 | 4.11 |
| Quick Ratio | 1.00 | 1.12 | 1.34 | 0.98 | 1.11 | 1.33 |
| Current Ratio | 2.16 | 2.78 | 3.39 | 2.21 | 2.52 | 2.69 |
| 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 Yield | 5.52% | 6.23% | 10.29% | 3.48% | 4.67% | 3.42% |
| FCF Yield | 5.33% | 8.45% | 6.11% | 0.29% | 3.38% | 5.50% |
| Dividend Yield | 2.94% | 3.62% | 4.99% | 3.98% | 3.21% | 2.92% |
| Payout Ratio | 53.54% | 59.57% | 48.93% | 115.67% | 70.00% | 86.42% |
| Buyback Yield / Dilution | 1.00% | -0.47% | -2.38% | -0.21% | 0.21% | -0.52% |
| Total Shareholder Return | 3.98% | 3.15% | 2.61% | 3.77% | 3.42% | 2.40% |