Douglas Dynamics Inc. (PLOW) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.06	$1.22	+15.1%	—	$214.6M	—
Q1 26	$0.13	$0.36	+176.9%	—	$137.8M	—
Q4 25	$0.52	$0.62	+19.2%	—	$184.5M	—
Q3 25	$0.39	$0.4	+2.6%	—	$162.1M	—
Q2 25	$0.88	$1.14	+29.5%	—	$194.3M	—
Q1 25	—	$0.09	—	—	$115.1M	—
Q4 24	$0.31	$0.39	+25.8%	—	$143.5M	—
Q3 24	$0.21	$0.24	+14.3%	—	$129.4M	—
Q2 24	$0.62	$1.11	+79.0%	—	$199.9M	—
Q1 24	-$0.32	-$0.29	+9.4%	—	$95.7M	—
Q4 23	$0.22	$0.19	-13.6%	—	$134.2M	—
Q3 23	$0.47	$0.25	-46.8%	—	$144.1M	—
Q2 23	$0.89	$1.11	+24.7%	—	$207.3M	—
Q1 23	-$0.55	-$0.55	0.0%	—	$82.5M	—
Q4 22	$0.49	$0.52	+6.1%	—	$159.8M	—
Q3 22	$0.46	$0.57	+23.9%	—	$166.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.99	—	—	$656.1M	—
FY24	—	$2.39	—	—	$568.5M	—
FY23	—	$1.01	—	—	$568.2M	—
FY22	—	$1.65	—	—	$616.1M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$416.3M	$474.9M	$524.1M	$571.7M	$480.2M	$541.5M	$616.1M	$568.2M	$568.5M	$656.1M
YoY change	+3.96%	+14.1%	+10.3%	+9.09%	-16%	+12.8%	+13.8%	-7.77%	+0.06%	+15.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	416.3M	474.9M	524.1M	571.7M	480.2M	541.5M	616.1M	568.2M	568.5M	656.1M
Cost of revenue	282.3M	331.8M	369.2M	402.9M	351.9M	399.6M	464.6M	433.9M	421.7M	481.4M
Gross profit	134M	143.1M	154.9M	168.8M	128.3M	141.9M	151.5M	134.3M	146.8M	174.7M
Gross margin	32.2%	30.1%	29.6%	29.5%	26.7%	26.2%	24.6%	23.6%	25.8%	26.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	53.6M	60.9M	70M	71.3M	64.6M	78.8M	82.2M	78.8M	91.7M	94.9M
Operating expenses	53.6M	60.9M	70M	71.3M	64.6M	78.8M	82.2M	78.8M	91.7M	94.9M
Operating income	69.8M	70.8M	73.5M	86.6M	52.7M	52.3M	58.8M	44.9M	47.6M	73.6M
Operating margin	16.8%	14.9%	14%	15.1%	11%	9.67%	9.54%	7.9%	8.38%	11.2%
Non-operating income, net	9.1M	443K	-758K	-7.2M	-131.3M	-5.9M	-139K	—	41.5M	12K
Pretax income	63.7M	52.9M	55.8M	62.6M	-98.8M	34.6M	47.4M	29.2M	73.9M	61.5M
Income tax	24.7M	-2.4M	11.9M	13.5M	-12.3M	3.9M	8.8M	5.5M	17.7M	14.6M
Net income	39M	55.3M	43.9M	49.2M	-86.6M	30.7M	38.6M	23.7M	56.2M	46.9M
Net margin	9.37%	11.6%	8.38%	8.6%	-18%	5.67%	6.27%	4.18%	9.88%	7.15%
EBITDA	85.6M	88.6M	91.8M	105.2M	72.6M	72.9M	79.6M	66.6M	66M	89.3M
EPS	1.71	2.42	1.91	2.13	-3.81	1.31	1.65	1.01	2.39	1.99
Diluted EPS	1.7	2.4	1.89	2.11	-3.81	1.29	1.63	0.98	2.36	1.96

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	144.1M	134.2M	95.7M	199.9M	129.4M	143.5M	115.1M	194.3M	162.1M	184.5M	137.8M	214.6M
Cost of revenue	112M	104.7M	76.7M	138.6M	98.5M	107.8M	86.9M	134M	124M	136.4M	100M	147.9M
Gross profit	32.1M	29.5M	18.9M	61.3M	30.9M	35.7M	28.1M	60.3M	38.1M	48.1M	37.8M	66.8M
Gross margin	22.3%	22%	19.8%	30.7%	23.9%	24.9%	24.5%	31%	23.5%	26.1%	27.4%	31.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	18M	14.2M	21.5M	23.4M	25.7M	21.1M	23.4M	21.8M	22.5M	27.3M	26.3M	29.8M
Operating expenses	18M	14.2M	21.5M	23.4M	25.7M	21.1M	23.4M	21.8M	22.5M	27.3M	26.3M	29.8M
Operating income	11.5M	12.6M	-5.2M	36.3M	3.6M	13M	3.2M	37M	14.1M	19.3M	9.9M	35.4M
Operating margin	7.98%	9.42%	-5.43%	18.2%	2.75%	9.04%	2.78%	19%	8.69%	10.5%	7.19%	16.5%
Non-operating income, net	35K	—	-1.2M	-53K	42.7M	138K	-328K	123K	90K	127K	44K	594K
Pretax income	6.9M	8.2M	-9.9M	32.1M	41.7M	10M	490K	34.1M	10.4M	16.5M	7.9M	33.7M
Income tax	1.1M	1.1M	-1.6M	7.8M	9.5M	2.1M	342K	8.2M	2.5M	3.6M	1.5M	8.3M
Net income	5.8M	7.1M	-8.4M	24.3M	32.3M	7.9M	148K	26M	8M	12.8M	6.4M	25.4M
Net margin	4.02%	5.27%	-8.73%	12.2%	24.9%	5.51%	0.13%	13.4%	4.91%	6.96%	4.63%	11.8%
EBITDA	16.9M	18.1M	150K	40.7M	8.2M	17M	7M	40.9M	18M	23.3M	13.8M	39.9M
EPS	0.25	0.3	-0.37	1.03	1.37	0.33	0.01	1.1	0.34	0.54	0.27	1.08
Diluted EPS	0.24	0.29	-0.37	1.02	1.36	0.33	0	1.09	0.33	0.54	0.26	1.07

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	756.5M	853.4M	814.1M	1.3B	977.1M	896.6M	828.6M	681.5M	545.2M	753.8M	912.5M
Enterprise value	1.1B	1.1B	1.1B	1.5B	1.2B	1.1B	1B	914.1M	761.6M	964.6M	1.2B
Shares outstanding	22.5M	22.6M	22.7M	22.8M	22.8M	23M	22.9M	23M	23.1M	23.1M	23.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	19.4	15.4	18.5	25.5	—	29.2	21.5	28.7	9.71	16.1	18.1
P/S	1.82	1.8	1.55	2.19	2.04	1.66	1.35	1.2	0.96	1.15	1.31
P/B	3.43	3.32	2.88	4	4.88	4.18	3.49	2.94	2.06	2.68	3.06
EV/EBITDA	12.3	12.8	11.6	14.2	16.6	15.1	13	13.7	11.5	10.8	12.8
EV/Sales	2.53	2.38	2.03	2.61	2.51	2.03	1.68	1.61	1.34	1.47	1.72
Earnings yield	5.16%	6.48%	5.39%	3.92%	—	3.42%	4.66%	3.48%	10.3%	6.22%	5.54%
FCF yield	7.94%	6.89%	5.96%	5.25%	3.98%	5.5%	3.38%	0.29%	6.11%	8.43%	3.76%
PEG	—	—	—	—	—	—	—	—	—	—	-9.94

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	32.2%	30.1%	29.6%	29.5%	26.7%	26.2%	24.6%	23.6%	25.8%	26.6%	31.1%
Operating margin	16.8%	14.9%	14%	15.1%	11%	9.67%	9.54%	7.9%	8.38%	11.2%	16.5%
Net margin	9.37%	11.6%	8.38%	8.6%	-18%	5.67%	6.27%	4.18%	9.88%	7.15%	7.52%
ROE	17.7%	21.6%	15.5%	15.7%	-43.2%	14.3%	16.3%	10.2%	21.3%	16.7%	18.3%
ROA	5.86%	8.07%	6.49%	6.97%	-14.9%	5.36%	6.47%	4%	9.52%	7.48%	7.05%
ROIC	8.3%	13.2%	10.8%	12.3%	12.3%	11.1%	10.8%	7.85%	7.53%	11.4%	10.3%
Return on tangible assets	-19.5%	-32.7%	-28.3%	-47.4%	-182.8%	49.5%	35.9%	19%	41.1%	29.2%	19.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.43	2.45	2.52	2.71	3.28	2.69	2.52	2.21	3.39	2.78	2.16
Quick ratio	1.98	1.47	1.43	1.63	1.96	1.39	1.15	1.01	1.4	1.17	1.03
Debt / equity	1.42	1.23	0.99	0.87	1.34	1.12	0.96	1.11	0.84	0.78	0.97
Debt / assets	0.47	0.46	0.41	0.39	0.46	0.42	0.38	0.43	0.38	0.35	0.4
Net debt / EBITDA	3.45	3.14	2.75	2.26	3.13	2.78	2.59	3.49	3.28	2.36	3.03
Interest coverage	5.19	3.89	4.29	4.73	-3.88	3.92	5.21	2.87	5.84	6.08	7.15
Effective tax rate	38.8%	0%	21.3%	21.5%	0%	11.3%	18.5%	18.9%	24%	23.8%	23.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	18.5	21	23.1	25.1	21	23.6	26.9	24.7	24.6	28.4	30.3
EPS (basic)	1.71	2.42	1.91	2.13	-3.81	1.31	1.65	1.01	2.39	1.99	1.99
EPS (diluted)	1.7	2.4	1.89	2.11	-3.81	1.29	1.63	0.98	2.36	1.96	2.2
Book value per share	9.81	11.4	12.5	13.7	8.76	9.35	10.3	10.1	11.5	12.2	13
FCF per share	2.67	2.6	2.14	2.89	1.7	2.15	1.22	0.08	1.44	2.75	2.07
Cash per share	0.83	1.63	1.23	1.57	1.8	1.61	0.9	1.05	0.22	0.36	0.1
Capex per share	0	—	—	—	—	—	—	—	2.78	0.48	0.56

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0%	—	—	—	—	—	—	—	11.3%	1.7%	1.9%
Capex / operating cash flow	0%	—	—	—	—	—	—	—	183.8%	14.9%	21.4%
Payout ratio	55%	39.7%	55.5%	51.2%	-30%	86.4%	70%	115.7%	48.9%	59.6%	53.6%
Dividend yield	2.84%	2.57%	3%	2.01%	2.65%	2.96%	3.26%	4.03%	5.04%	3.71%	2.98%

Yield

2.98%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.295

ex-dividend Sep 15, 2026

Payout ratio

54%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.295
Jun 16, 2026	$0.295
Mar 17, 2026	$0.295

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$144.1M	$134.2M	$95.7M	$199.9M	$129.4M	$143.5M	$115.1M	$194.3M	$162.1M	$184.5M	$137.8M	$214.6M
YoY change	-13.2%	-16%	+15.9%	-3.55%	-10.2%	+6.93%	+20.3%	-2.79%	+25.3%	+28.6%	+19.8%	+10.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	18.6M	36.9M	27.8M	35.7M	41M	37M	20.7M	24.2M	5.1M	8.3M
Receivables	78.6M	79.1M	81.5M	87.9M	83.2M	71M	86.8M	83.8M	87.4M	97.6M
Inventory	74.8M	79.2M	86.2M	84.5M	87.6M	106.7M	137.7M	142.6M	139.6M	153.8M
Total current assets	176.4M	198.1M	199.1M	211.5M	217.2M	220.4M	252.9M	262.2M	238.2M	266M
Property, plant & equipment	26.1M	27.1M	27M	52.3M	56.2M	50.6M	50.2M	48.6M	109.2M	110.8M
Goodwill & intangibles	866.3M	854.3M	831.4M	809.5M	531.9M	510.5M	489.4M	468.4M	453.4M	466.1M
Total assets	666.2M	685.2M	676.2M	705.7M	579.2M	572.5M	596.9M	593.4M	590M	626.7M
Accounts payable	17.3M	16.3M	18.7M	16.1M	16.3M	27.4M	49.3M	31.4M	32.3M	38.7M
Short-term debt	6.8M	40.5M	37M	32.5M	13.9M	18.4M	17.2M	61.3M	10M	23.8M
Total current liabilities	51.4M	80.8M	79.1M	78.1M	66.2M	81.9M	100.4M	118.5M	70.2M	95.8M
Long-term debt	306.7M	274.9M	242.9M	241.1M	254.1M	221.5M	209.3M	195.4M	211.5M	195.3M
Total liabilities	445.7M	428.5M	393.4M	392.5M	379M	357.9M	359.8M	361.9M	325.8M	345.3M
Shareholders' equity	220.5M	256.7M	282.8M	313.2M	200.2M	214.6M	237.1M	231.6M	264.2M	281.4M
Total debt	313.5M	315.3M	279.9M	273.6M	268M	239.9M	226.5M	256.7M	221.5M	219.1M
Net debt	294.9M	278.5M	252.1M	237.9M	227M	202.9M	205.9M	232.5M	216.4M	210.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	11.1M	24.2M	2M	4.2M	8.4M	5.1M	7.2M	8M	10.6M	8.3M	5.2M	1.9M
Receivables	165.3M	83.8M	58.6M	140.2M	153.1M	87.4M	69.2M	141.2M	173.5M	97.6M	67.7M	156.6M
Inventory	151.7M	142.6M	177.9M	143.2M	148.8M	139.6M	192.6M	173.5M	158.5M	153.8M	190M	179.3M
Total current assets	337.1M	262.2M	251.2M	293.8M	316.1M	238.2M	274.3M	326.7M	348.5M	266M	267.7M	342.4M
Property, plant & equipment	48M	48.6M	44.1M	43.2M	105.5M	109.2M	106.1M	105.2M	108M	110.8M	114M	134.5M
Goodwill & intangibles	473.7M	468.4M	463.1M	459.9M	456.6M	453.4M	450.3M	447.2M	444.1M	466.1M	463.1M	460M
Total assets	671.9M	593.4M	577.1M	617M	665.6M	590M	621M	671.5M	694.9M	626.7M	630.3M	725.7M
Accounts payable	41.6M	31.4M	24.1M	27.8M	35.3M	32.3M	42.9M	39.6M	40M	38.7M	35.8M	38.6M
Short-term debt	113.2M	61.3M	74.4M	87.5M	77.3M	10M	47.8M	76.9M	99.2M	23.8M	38.9M	78.6M
Total current liabilities	187.7M	118.5M	122.1M	145M	147.5M	70.2M	115.8M	154.7M	173.7M	95.8M	100.9M	158.4M
Long-term debt	198.8M	195.4M	189.7M	185.9M	210.3M	211.5M	203.1M	199.6M	196.4M	195.3M	195.8M	211.6M
Total liabilities	435M	361.9M	359.9M	380.3M	404.8M	325.8M	362.2M	398.2M	419.6M	345.3M	350.9M	426M
Shareholders' equity	236.9M	231.6M	217.2M	236.7M	260.8M	264.2M	258.9M	273.3M	275.3M	281.4M	279.4M	299.7M
Total debt	312M	256.7M	264.2M	273.4M	287.6M	221.5M	250.9M	276.5M	295.6M	219.1M	234.7M	290.2M
Net debt	300.9M	232.5M	262.2M	269.3M	279.2M	216.4M	243.7M	268.6M	284.9M	210.8M	229.5M	288.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	39M	55.3M	43.9M	49.2M	-86.6M	30.7M	38.6M	23.7M	56.2M	46.9M
Depreciation & amortization	16.7M	18.6M	19.1M	19.2M	19.7M	20.3M	20.9M	21.7M	17.9M	15.4M
Stock-based compensation	2.9M	3.5M	4.5M	3.2M	2.8M	5.8M	6.7M	953K	4.9M	6.7M
Change in working capital	7.4M	-2.3M	-19.1M	-2.4M	-1.5M	-3.7M	-27.2M	-24.5M	-5.7M	-14.8M
Operating cash flow	71.4M	59.3M	58.3M	71.6M	-81.3M	57.4M	37.3M	35.1M	34.9M	74.7M
Capital expenditure	0	—	—	—	—	—	—	—	64.2M	-11.1M
Investing cash flow	-181.3M	-7.4M	0	0	—	—	—	—	64.6M	-37.5M
Dividends paid	-21.5M	-22M	-24.4M	-25.2M	-25.9M	-26.5M	-27M	-27.4M	-27.5M	-27.9M
Share repurchases	0	-923K	-23K	-50K	—	0	-6M	0	0	-6M
Financing cash flow	103M	-34.1M	-57.6M	-58M	-33.5M	-53.4M	-44.3M	1.5M	-164.2M	-34.1M
Net change in cash	-6.9M	17.9M	698K	13.6M	-114.8M	4M	-6.9M	36.6M	-64.7M	3.2M
Free cash flow	60.1M	58.8M	48.5M	65.8M	38.9M	49.3M	28M	1.9M	33.3M	63.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	5.8M	7.1M	-8.4M	24.3M	32.3M	7.9M	148K	26M	8M	12.8M	6.4M	25.4M
Depreciation & amortization	5.4M	5.5M	5.3M	4.4M	4.3M	3.9M	3.8M	3.8M	3.8M	3.9M	3.9M	3.8M
Stock-based compensation	0	-3.3M	355K	2.5M	794K	1.2M	2.1M	1.6M	1.5M	1.5M	2.5M	4.5M
Change in working capital	-6M	72.6M	-16.3M	-40.6M	-12.1M	63.4M	-5.5M	-59.1M	-25.6M	75.4M	-11.1M	-76.8M
Operating cash flow	3.7M	96.6M	-17.4M	-8.2M	-17.6M	78M	3M	-11.4M	-8.5M	95.9M	-994K	-24.2M
Capital expenditure	—	—	—	—	—	0	—	-3M	-2.9M	-3.1M	-3.2M	-4.1M
Investing cash flow	—	—	—	—	—	86K	—	-3M	-2.9M	-3.1M	-4.1M	-4.1M
Dividends paid	-6.9M	-6.8M	-6.8M	-6.9M	-6.9M	-7M	-7M	-6.9M	-7M	-7M	-7.1M	-7.1M
Share repurchases	0	0	—	—	—	—	—	-6M	0	0	-3M	-3M
Financing cash flow	-65.9M	-60.8M	767K	9.1M	-48.9M	-121.2M	5.6M	27.1M	14.1M	-68.9M	2M	25M
Net change in cash	-62.3M	35.8M	-16.6M	936K	-66.5M	-43M	8.6M	12.8M	2.7M	24M	-3.1M	-3.3M
Free cash flow	-354K	73.8M	-22.9M	1.1M	-15.4M	70.6M	-3.5M	-14.3M	-11.4M	92.8M	-4.2M	-28.3M

Douglas Dynamics Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history