Saturday 17 October 2026 Export PLOW’s income statement to Excel — free account

Douglas Dynamics, Inc.

Douglas Dynamics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $656.1 million, up 15.4% from fiscal 2024. In the quarter to June 2026, revenue grew 10.5%, EPS fell 1.82%, free cash flow fell 97.5% and total debt fell 4.84%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

39.54 0.12 −0.30%

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Market cap: $915.2M
P/E: 17.7×
Fwd P/E: 16.8×
Dividend yield: 2.98%
F-score: 6/9
Altman Z: 3.31
Beneish M: −2.57
Dividend safety: 69/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.08

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	2	—	—	—	—	—	—	—

Insider Ownership 2.15%

Capital & Financial Ratios $m

Market Cap 915.23

Revenue 699.10

Net Income 52.55

Free Cash Flow 48.91

Net Debt 137.16

Current Ratio 2.16

Debt/Equity 0.46

P/E ratio 17.73

Fwd P/E 16.80

P/S ratio 1.31

P/B ratio 3.05

Past 5Y EPS Growth —

This Y EPS Growth 42.97%

Next Y EPS Growth 2.50%

Next Y revenue growth 18.22%

Next 5Y EPS Growth 19.47%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 31.04%

10-year low 10-year high

P/S against its own 10 years 34.98%

10-year low 10-year high

P/B against its own 10 years 37.15%

10-year low 10-year high

EV/Sales against its own 10 years 27.09%

10-year low 10-year high

EV/FCF against its own 10 years 53.96%

10-year low 10-year high

Dividends

Payout Ratio 0.54

Annual Dividend Rate 1.18

Annual Dividend Yield 2.98%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.18	0.30 0.30 0.30
2025	1.18	0.30 0.30 0.30 0.30
2024	1.18	0.30 0.30 0.30 0.30
2023	1.18	0.30 0.30 0.30 0.30
2022	1.16	0.29 0.29 0.29 0.29
2021	1.14	0.29 0.29 0.29 0.29
2020	1.12	0.28 0.28 0.28 0.28
2019	1.09	0.27 0.27 0.27 0.27
2018	1.06	0.27 0.27 0.27 0.27
2017	0.96	0.24 0.24 0.24 0.24
2016	0.94	0.24 0.24 0.24 0.24

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	24	5	8	2
Receivables	89	87	98	157
Inventory	143	140	154	179
Other	—	—	—	—
	262	238	266	342

	2023	2024	2025	Q'26
Payables	31	32	39	39
ST’ Debt	7	—	7	7
Other	2	3	4	4
	119	70	96	158

Compound Annual Growth %

	10y	5y	3y
Sales	5.06%	6.44%	2.12%
Cash Flow	2.84%	6.95%	23.11%
Earnings	0.51%	0.00%	6.58%
Book Value	3.45%	7.05%	5.88%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	138	215	—	—	—
’25	115	194	162	185	656
’24	96	200	129	144	569
’23	83	207	144	134	568
’22	103	188	166	160	616
’21	103	158	128	153	541
’20	68	120	134	158	480

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1)	(24)	—	—	—
’25	(1)	(11)	(9)	96	75
’24	(22)	3	(14)	74	41
’23	(57)	(9)	2	77	12
’22	(26)	(32)	(16)	115	40
’21	24	(11)	(33)	80	61
’20	(9)	3	(21)	80	53

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(4)	(28)	—	—	—
’25	(3)	(14)	(11)	93	64
’24	(23)	1	(15)	71	33
’23	(60)	(12)	0	74	2
’22	(28)	(36)	(20)	111	28
’21	22	(13)	(35)	76	49
’20	(11)	0	(25)	75	39

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.26	1.07	—	—	—
’25	0.01	1.09	0.33	0.54	1.96
’24	(0.37)	1.02	1.36	0.33	2.36
’23	(0.58)	1.01	0.24	0.29	0.98
’22	(0.18)	0.75	0.56	0.49	1.63
’21	0.03	0.60	0.30	0.38	1.29
’20	(0.44)	(4.55)	0.39	0.78	(3.81)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	16.89	28.55	33.54	34.27	24.12	34.99	27.76	23.15	21.31	21.30	Analyst estimates 2026–2028 Powerpack
	High	34.75	42.60	49.50	56.55	56.89	51.44	40.82	41.40	30.98	34.41
People
People	Employees	1,633	1,664	1,663	1,677	1,767	1,436	1,813	1,804	1,673	1,764
	Revenue/emp, $m	0.25	0.29	0.32	0.34	0.27	0.38	0.34	0.31	0.34	0.37
Income, $m
Income, $m	Revenue	416	475	524	572	480	541	616	568	569	656
	Gross margin, %	32.18	30.13	29.56	29.53	26.72	26.20	24.58	23.63	25.83	26.63
	EBT	64	53	56	63	(99)	35	47	29	74	62
	EBT margin, %	15.30	11.14	10.64	10.95	(20.58)	6.39	7.69	5.15	13.00	9.38
	Net income	39	55	44	49	(87)	31	39	24	56	47
	Depreciation	18	20	20	20	21	21	21	22	19	16
Per share, $
Per share, $	Revenue	18.52	21.04	23.11	25.10	21.02	23.59	26.88	24.74	24.64	28.42
	Earnings	1.71	2.42	1.91	2.13	(3.81)	1.31	1.65	1.01	2.39	1.99
	Cash flow	3.11	2.94	2.57	3.39	2.34	2.64	1.75	0.54	1.78	3.24
	Capex	(0.44)	(0.33)	(0.43)	(0.51)	(0.63)	(0.49)	(0.53)	(0.46)	(0.34)	(0.48)
	Free cash flow	2.67	2.60	2.14	2.89	1.70	2.15	1.22	0.08	1.44	2.75
	Book value	9.81	11.37	12.47	13.75	8.76	9.35	10.35	10.08	11.45	12.19
	Shares, m	22	23	23	23	23	23	23	23	23	23
Valuation, ×
Valuation, ×	P/E	19.94	15.79	18.79	25.82	0.00	29.82	22.13	29.23	10.01	16.44
	P/S	1.84	1.82	1.55	2.19	2.04	1.66	1.35	1.17	0.96	1.15
	P/B	3.48	3.36	2.88	4.00	4.88	4.18	3.51	2.87	2.06	2.68
	EV/Sales	2.54	2.39	2.03	2.56	2.45	1.99	1.65	1.46	1.23	1.35
	EV/FCF	17.60	19.27	21.90	22.22	30.21	21.83	36.37	425.38	21.07	13.97
Cash, $m
Cash, $m	Operating cash flow	70	66	58	77	53	61	40	12	41	75
	Capex	(10)	(8)	(10)	(12)	(14)	(11)	(12)	(11)	(8)	(11)
	Free cash flow	60	59	48	66	39	49	28	2	33	64
Balance, $m
Balance, $m	Working capital	125	117	120	133	151	139	152	144	168	170
	Total debt	310	308	276	244	238	217	206	188	147	143
	Net debt	291	271	248	209	197	180	186	164	142	134
	Shareholders’ equity	220	257	283	313	200	215	237	232	264	281
Returns, %
Returns, %	ROA	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
	ROE	18.53	23.19	16.06	16.29	(33.72)	14.55	16.77	9.90	22.21	16.80

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
THRM Gentherm Inc	$1.6B	33.4×	22.0×	+10.95% (above 0%: growing)	+797.44% (above 0%: growing)	−103.23% (below 0%: shrinking)	23.17%	2.57%	Compare
ADNT Adient	$1.4B	29.9×	25.0×	+5.03% (above 0%: growing)	−25.58% (below 0%: shrinking)	+17.07% (above 0%: growing)	5.98%	2.52%	Compare
GT The Goodyear Tire & Rubber Company	$1.3B	— (loss-making)	— (loss-making)	−4.82% (below 0%: shrinking)	n/m	−130.32% (below 0%: shrinking)	16.02%	(0.52%)	Compare
XPEL XPEL, Inc.	$1.2B	22.0×	22.1×	+14.71% (above 0%: growing)	+10.17% (above 0%: growing)	−231.01% (below 0%: shrinking)	44.14%	16.23%	Compare
DCH Dauch Corporation	$1.2B	— (loss-making)	— (loss-making)	+92.40% (above 0%: growing)	n/m	−59.49% (below 0%: shrinking)	11.44%	3.37%	Compare
PLOW Douglas Dynamics, Inc.	$915.2M	17.7×	16.8×	+10.46% (above 0%: growing)	−1.82% (below 0%: shrinking)	−97.51% (below 0%: shrinking)	31.12%	16.51%
SMP Standard Motor Products, Inc.	$829.7M	16.2×	19.7×	+1.57% (above 0%: growing)	+18.26% (above 0%: growing)	+108.33% (above 0%: growing)	32.82%	10.14%	Compare
FOXF Fox Factory Holding Corp.	$777.6M	— (loss-making)	53.3×	−4.47% (below 0%: shrinking)	+42.86% (above 0%: growing)	+13.54% (above 0%: growing)	30.63%	4.89%	Compare
MLR Miller Industries, Inc.	$582.0M	40.8×	26.2×	+12.13% (above 0%: growing)	−13.51% (below 0%: shrinking)	+9.55% (above 0%: growing)	14.97%	4.48%	Compare
Median of peers	$1.2B	29.9×	23.6×	+7.99%	+14.22%	−24.97%	19.60%	3.93%

All 53 Auto Parts stocks →

Douglas Dynamics, Inc. (PLOW) key facts

Strength: Douglas Dynamics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $656.1 million, up 15.4% from fiscal 2024.
Douglas Dynamics, Inc. (PLOW) is an Auto Parts company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
As of October 16, 2026, PLOW traded at $39.54, a market capitalization of $915.2 million.
Douglas Dynamics, Inc. pays an annual dividend of $1.18 per share, a yield of 2.98%, with a payout ratio of 53.6%.
Return on equity was 16.8% and debt-to-equity 0.46.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.31 (safe zone) for fiscal 2025.