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Friday 6 November 2026
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Douglas Dynamics, Inc.
PLOW Consumer Cyclical Auto Parts
Douglas Dynamics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $656.1 million, up 15.4% from fiscal 2024.
- Revenue
- +34.5%
- EPS
- +169.7%
- Free cash flow
- −129.2%
- Total debt
- −4.90%
Quarter to September 2026, against a year earlier
36.29
0.54
−1.47%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
19.94 | 15.79 | 18.79 | 25.82 | 0.00 | 29.82 | 22.13 | 29.23 | 10.01 | 16.44 |
Piotroski F-Score |
3 | 5 | 6 | 7 | 3 | 6 | 7 | 3 | 7 | 6 |
P/S ratio |
1.84 | 1.82 | 1.55 | 2.19 | 2.04 | 1.66 | 1.35 | 1.17 | 0.96 | 1.15 |
Altman Z-Score |
2.39 | 2.67 | 2.87 | 3.68 | 2.38 | 3.16 | 3.19 | 2.77 | 3.02 | 3.31 |
Altman Z″-Score (non-manufacturers) |
2.86 | 3.00 | 3.31 | 3.65 | 1.66 | 3.11 | 3.38 | 3.10 | 4.22 | 3.99 |
P/FCF ratio |
12.76 | 14.67 | 16.79 | 19.05 | 25.13 | 18.18 | 29.73 | 341.14 | 16.36 | 11.86 |
Beneish M-Score |
(2.62) | (2.53) | (2.52) | (2.55) | (3.73) | (2.82) | (2.29) | (2.37) | (2.31) | (2.57) |
P/Operating CF |
13.06 | 12.87 | 10.70 | 12.72 | 12.15 | 11.21 | 7.26 | 8.67 | 7.33 | 7.86 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 69 |
P/B ratio |
3.48 | 3.36 | 2.88 | 4.00 | 4.88 | 4.18 | 3.51 | 2.87 | 2.06 | 2.68 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 14.53 | 15.58 |
EV/Sales |
2.54 | 2.39 | 2.03 | 2.56 | 2.45 | 1.99 | 1.65 | 1.46 | 1.23 | 1.35 |
EV/EBITDA |
12.09 | 12.51 | 11.33 | 13.66 | 0.00 | 14.89 | 12.69 | 12.34 | 6.54 | 9.93 |
EV/Operating CF |
15.13 | 17.08 | 18.25 | 18.91 | 22.01 | 17.79 | 25.42 | 66.46 | 17.07 | 11.89 |
EV/FCF |
17.60 | 19.27 | 21.90 | 22.22 | 30.21 | 21.83 | 36.37 | 425.38 | 21.07 | 13.97 |
Quick Ratio |
1.92 | 1.44 | 1.38 | 1.58 | 1.88 | 1.33 | 1.07 | 0.95 | 1.32 | 1.11 |
Current Ratio |
3.43 | 2.45 | 2.52 | 2.71 | 3.28 | 2.69 | 2.52 | 2.21 | 3.39 | 2.78 |
Net Debt/EBITDA |
3.33 | 2.99 | 2.64 | 1.95 | (3.65) | 2.49 | 2.32 | 2.44 | 1.32 | 1.50 |
Debt/Assets |
46.47% | 44.90% | 40.77% | 34.61% | 41.15% | 37.94% | 34.59% | 31.72% | 24.86% | 22.75% |
Debt/Equity |
1.40 | 1.20 | 0.98 | 0.78 | 1.19 | 1.01 | 0.87 | 0.81 | 0.56 | 0.51 |
Asset Turnover |
0.71 | 0.70 | 0.77 | 0.83 | 0.75 | 0.94 | 1.05 | 0.95 | 0.96 | 1.08 |
Operating CF/Net income |
1.79 | 1.20 | 1.34 | 1.59 | (0.62) | 2.01 | 1.06 | 0.54 | 0.75 | 1.63 |
Capex/Depreciation |
(0.56) | (0.38) | (0.48) | (0.56) | (0.69) | (0.53) | (0.56) | (0.47) | (0.42) | (0.70) |
Interest Coverage |
4.59 | 3.86 | 4.34 | 5.16 | (3.71) | 4.32 | 5.22 | 2.87 | 5.81 | 6.08 |
| 18.53% | 23.19% | 16.06% | 16.29% | (33.72%) | 14.55% | 16.77% | 9.90% | 22.21% | 16.80% | |
| 6.67% | 8.19% | 6.36% | 7.02% | (13.47%) | 5.24% | 6.48% | 3.90% | 9.31% | 7.54% | |
ROIC |
8.53% | 8.39% | 8.65% | 10.37% | (11.81%) | 8.09% | 8.68% | 7.09% | 13.66% | 11.07% |
Return on Tangible Assets |
22.02% | 32.30% | 24.72% | 25.29% | (40.20%) | 14.70% | 17.12% | 10.99% | 26.31% | 21.33% |
Average Days of Receivables |
70.26 | 60.81 | 56.75 | 56.10 | 63.24 | 48.71 | 51.41 | 56.90 | 56.12 | 54.79 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
12.87% | 12.82% | 13.35% | 12.47% | 13.46% | 14.56% | 13.34% | 13.88% | 16.13% | 14.46% |
Intangible Assets out of Total Assets |
0.65 | 0.62 | 0.61 | 0.57 | 0.46 | 0.45 | 0.41 | 0.39 | 0.38 | 0.37 |
Share Based Compensation of Revenue |
0.70% | 0.74% | 0.87% | 0.57% | 0.59% | 1.07% | 1.09% | 0.17% | 0.85% | 1.02% |
Graham Net Nets |
(0.35) | (0.27) | (0.24) | (0.14) | (0.17) | (0.15) | (0.13) | (0.15) | (0.16) | (0.11) |
Graham Number |
19.42 | 24.88 | 23.15 | 25.67 | 0.00 | 16.60 | 19.54 | 14.99 | 24.66 | 23.34 |
Earnings Yield |
5.01% | 6.34% | 5.32% | 3.87% | (8.91%) | 3.35% | 4.52% | 3.42% | 9.99% | 6.08% |
Free Cash Flow Yield |
7.84% | 6.82% | 5.96% | 5.25% | 3.98% | 5.50% | 3.36% | 0.29% | 6.11% | 8.43% |
Revenue per Share |
18.52 | 21.04 | 23.11 | 25.10 | 21.02 | 23.59 | 26.88 | 24.74 | 24.64 | 28.42 |
Operating CF per Share |
3.11 | 2.94 | 2.57 | 3.39 | 2.34 | 2.64 | 1.75 | 0.54 | 1.78 | 3.24 |
Capex per Share |
(0.44) | (0.33) | (0.43) | (0.51) | (0.63) | (0.49) | (0.53) | (0.46) | (0.34) | (0.48) |
Free Cash Flow per Share |
2.67 | 2.60 | 2.14 | 2.89 | 1.70 | 2.15 | 1.22 | 0.08 | 1.44 | 2.75 |
Cash per Share |
0.83 | 1.63 | 1.23 | 1.57 | 1.80 | 1.61 | 0.90 | 1.05 | 0.22 | 0.36 |
Shareholders Equity per Share |
9.81 | 11.37 | 12.47 | 13.75 | 8.76 | 9.35 | 10.35 | 10.08 | 11.45 | 12.19 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
9.81 | 11.37 | 12.47 | 13.75 | 8.76 | 9.35 | 10.35 | 10.08 | 11.45 | 12.19 |
Free Cash Flow |
60.09 | 58.79 | 48.49 | 65.76 | 38.88 | 49.33 | 27.98 | 1.95 | 33.32 | 63.56 |
Working Capital |
125.04 | 117.33 | 120.03 | 133.43 | 150.98 | 138.52 | 152.49 | 143.72 | 168.03 | 170.19 |
Capital Expenditures |
(9.83) | (7.56) | (9.69) | (11.53) | (14.49) | (11.21) | (12.05) | (10.52) | (7.81) | (11.13) |
Net Current Asset Value |
(269.27) | (230.38) | (194.34) | (181.00) | (161.81) | (137.43) | (106.87) | (99.61) | (87.54) | (79.22) |
EV/EBIT |
15.15 | 16.00 | 14.46 | 16.88 | 0.00 | 21.06 | 17.32 | 18.45 | 7.91 | 12.07 |
Capex to Sales |
0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 | 0.02 | 0.02 | 0.01 | 0.02 |
Price to Operating Income |
10.98 | 12.18 | 11.08 | 14.47 | 0.00 | 17.53 | 14.16 | 14.80 | 6.15 | 10.24 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.34 | 0.37 | 0.37 | 0.35 | 0.33 | 0.32 | 0.31 | 0.33 | 0.45 | 0.35 |
Cash ROIC |
10.95% | 9.78% | 8.27% | 11.09% | 8.11% | 10.52% | 6.03% | 0.44% | 8.01% | 14.70% |
Accounts Receivable Turnover |
5.45 | 5.96 | 6.53 | 6.75 | 5.61 | 6.97 | 7.75 | 6.48 | 6.46 | 7.06 |
Accounts Payable Turnover |
17.72 | 19.74 | 21.08 | 23.14 | 21.72 | 18.30 | 12.13 | 10.76 | 13.24 | 13.56 |
Inventory Turnover |
4.47 | 4.31 | 4.46 | 4.72 | 4.09 | 4.11 | 3.80 | 3.10 | 2.99 | 3.28 |
Average Days of Payables |
22.37 | 17.95 | 18.49 | 14.60 | 16.89 | 25.01 | 38.69 | 26.39 | 27.98 | 29.33 |
Days of Inventory on Hand |
96.73 | 87.15 | 85.22 | 76.54 | 90.90 | 97.44 | 108.19 | 119.96 | 120.88 | 116.65 |
Average Receivables |
76.34 | 79.63 | 80.30 | 84.68 | 85.53 | 77.73 | 79.51 | 87.67 | 87.99 | 92.94 |
Average Payables |
15.93 | 16.81 | 17.51 | 17.41 | 16.20 | 21.83 | 38.31 | 40.31 | 31.85 | 35.50 |
Average Inventory |
63.20 | 77.02 | 82.72 | 85.34 | 86.05 | 97.15 | 122.19 | 140.16 | 141.13 | 146.74 |
Average Assets |
584.67 | 675.67 | 680.68 | 690.94 | 642.45 | 575.84 | 584.68 | 595.15 | 591.70 | 608.34 |
Average Common Equity |
210.48 | 238.57 | 269.72 | 297.96 | 256.68 | 207.41 | 225.86 | 234.33 | 247.89 | 272.83 |
Columns are period end dates · fundamentals updated 5 Nov 2026