Douglas Dynamics Inc Financials
This page shows Douglas Dynamics Inc (PLOW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Douglas Dynamics Inc has an operating margin of 15.6%, meaning the company retains $16 of operating profit per $100 of revenue. This strong profitability earns a score of 78/100, reflecting efficient cost management and pricing power. This is up from 7.9% the prior year.
Douglas Dynamics Inc's revenue grew a modest 0.1% year-over-year to $568.5M. This slow but positive growth earns a score of 29/100.
Douglas Dynamics Inc carries a low D/E ratio of 0.56, meaning only $0.56 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.39, Douglas Dynamics Inc holds $3.39 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Douglas Dynamics Inc's free cash flow margin of 5.9% results in a low score of 29/100. Capital expenditures of $7.8M absorb a large share of operating cash flow.
Douglas Dynamics Inc earns a strong 21.3% return on equity (ROE), meaning it generates $21 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 85/100. This is up from 10.2% the prior year.
Douglas Dynamics Inc scores 3.79, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Douglas Dynamics Inc passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Douglas Dynamics Inc generates $0.73 in operating cash flow ($41.1M OCF vs $56.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Douglas Dynamics Inc earns $448.0 in operating income for every $1 of interest expense ($88.7M vs $198K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Douglas Dynamics Inc generated $568.5M in revenue in fiscal year 2024. This represents an increase of 0.1% from the prior year.
Douglas Dynamics Inc's EBITDA was $106.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 60.1% from the prior year.
Douglas Dynamics Inc generated $33.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 1134.4% from the prior year.
Douglas Dynamics Inc reported $56.2M in net income in fiscal year 2024. This represents an increase of 136.7% from the prior year.
Douglas Dynamics Inc earned $2.36 per diluted share (EPS) in fiscal year 2024. This represents an increase of 140.8% from the prior year.
Douglas Dynamics Inc held $5.1M in cash against $147.5M in long-term debt as of fiscal year 2024.
Douglas Dynamics Inc paid $1.18 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Douglas Dynamics Inc had 23M shares outstanding in fiscal year 2024. This represents an increase of 0.5% from the prior year.
Douglas Dynamics Inc's gross margin was 25.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 2.2 percentage points from the prior year.
Douglas Dynamics Inc's operating margin was 15.6% in fiscal year 2024, reflecting core business profitability. This is up 7.7 percentage points from the prior year.
Douglas Dynamics Inc's net profit margin was 9.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 5.7 percentage points from the prior year.
Douglas Dynamics Inc's ROE was 21.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 11.0 percentage points from the prior year.
Douglas Dynamics Inc invested $8.4M in research and development in fiscal year 2024. This represents a decrease of 16.7% from the prior year.
Douglas Dynamics Inc spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Douglas Dynamics Inc invested $7.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 20.5% from the prior year.
PLOW Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $162.1M-16.6% | $194.3M+68.9% | $115.1M-19.8% | $143.5M+6.9% | $134.2M-6.9% | $144.1M-30.5% | $207.3M+151.1% | $82.5M |
| Cost of Revenue | $124.0M-7.5% | $134.0M+54.2% | $86.9M-19.4% | $107.8M+2.9% | $104.7M-6.5% | $112.0M-23.2% | $145.9M+104.7% | $71.3M |
| Gross Profit | $38.1M-36.8% | $60.3M+114.3% | $28.1M-21.3% | $35.7M+21.1% | $29.5M-8.2% | $32.1M-47.6% | $61.4M+444.2% | $11.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $22.5M+3.3% | $21.8M-7.0% | $23.4M+10.7% | $21.1M+48.5% | $14.2M-20.9% | $18.0M-25.5% | $24.2M+7.7% | $22.4M |
| Operating Income | $14.1M-61.9% | $37.0M+1055.4% | $3.2M-75.3% | $13.0M+2.6% | $12.6M+9.9% | $11.5M-66.7% | $34.6M+350.5% | -$13.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $2.5M-70.1% | $8.2M+2295.0% | $342K-83.4% | $2.1M+84.3% | $1.1M-1.7% | $1.1M-83.2% | $6.8M+292.6% | -$3.5M |
| Net Income | $8.0M-69.3% | $26.0M+17436.5% | $148K-98.1% | $7.9M+11.7% | $7.1M+22.2% | $5.8M-75.8% | $24.0M+282.8% | -$13.1M |
| EPS (Diluted) | $0.33-69.7% | $1.09 | $0.00-100.0% | $0.33+13.8% | $0.29+20.8% | $0.24-76.2% | $1.01+274.1% | $-0.58 |
PLOW Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $694.9M+3.5% | $671.5M+8.1% | $621.0M+5.3% | $590.0M-0.6% | $593.4M-11.7% | $671.9M+4.8% | $641.2M+9.6% | $585.3M |
| Current Assets | $348.5M+6.7% | $326.7M+19.1% | $274.3M+15.1% | $238.2M-9.2% | $262.2M-22.2% | $337.1M+10.7% | $304.6M+23.0% | $247.6M |
| Cash & Equivalents | $10.6M+33.4% | $8.0M+10.7% | $7.2M+40.8% | $5.1M-78.8% | $24.2M+117.9% | $11.1M+227.7% | $3.4M+16.7% | $2.9M |
| Inventory | $138.7M-9.5% | $153.3M-10.6% | $171.5M+25.1% | $137.0M-2.4% | $140.4M-4.7% | $147.2M-1.1% | $148.9M-19.3% | $184.6M |
| Accounts Receivable | $173.5M+22.9% | $141.2M+103.9% | $69.2M-20.8% | $87.4M+4.4% | $83.8M-49.3% | $165.3M+18.6% | $139.4M+189.0% | $48.2M |
| Goodwill | $113.1M0.0% | $113.1M0.0% | $113.1M0.0% | $113.1M0.0% | $113.1M0.0% | $113.1M0.0% | $113.1M0.0% | $113.1M |
| Total Liabilities | $419.6M+5.4% | $398.2M+10.0% | $362.2M+11.2% | $325.8M-10.0% | $361.9M-16.8% | $435.0M+7.9% | $403.0M+9.3% | $368.9M |
| Current Liabilities | $173.7M+12.3% | $154.7M+33.6% | $115.8M+65.0% | $70.2M-40.8% | $118.5M-36.9% | $187.7M+24.3% | $151.0M+32.0% | $114.4M |
| Long-Term Debt | N/A | N/A | N/A | $147.5M-22.1% | $189.4M | N/A | N/A | N/A |
| Total Equity | $275.3M+0.8% | $273.3M+5.6% | $258.9M-2.0% | $264.2M+14.1% | $231.6M-2.3% | $236.9M-0.5% | $238.2M+10.1% | $216.4M |
| Retained Earnings | $101.5M+0.9% | $100.6M+23.4% | $81.6M-7.8% | $88.4M+48.0% | $59.7M+0.5% | $59.4M-1.8% | $60.5M+39.4% | $43.4M |
PLOW Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.5M+25.2% | -$11.4M-751.5% | -$1.3M-101.8% | $74.4M-2.9% | $76.6M+3585.3% | $2.1M+122.3% | -$9.3M+83.6% | -$56.9M |
| Capital Expenditures | $2.9M-1.2% | $3.0M+37.2% | $2.2M-42.9% | $3.8M+31.6% | $2.9M+8.2% | $2.7M-4.1% | $2.8M+88.6% | $1.5M |
| Free Cash Flow | -$11.4M+20.2% | -$14.3M-310.2% | -$3.5M-105.0% | $70.6M-4.2% | $73.7M+12902.6% | -$576K+95.2% | -$12.1M+79.3% | -$58.4M |
| Investing Cash Flow | -$2.9M+1.2% | -$3.0M-37.2% | -$2.2M+42.3% | -$3.7M-33.7% | -$2.8M-15.0% | -$2.4M+4.3% | -$2.5M+7.5% | -$2.7M |
| Financing Cash Flow | $14.1M-6.7% | $15.1M+170.7% | $5.6M+107.6% | -$74.0M-21.7% | -$60.8M-853.9% | $8.1M-34.7% | $12.3M-70.6% | $41.9M |
| Dividends Paid | $7.0M+1.5% | $6.9M-1.5% | $7.0M+0.9% | $7.0M+3.0% | $6.8M-1.8% | $6.9M+0.4% | $6.8M-1.6% | $7.0M |
| Share Buybacks | $0 | N/A | N/A | $0 | $0 | $0 | $0 | $0 |
PLOW Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.5%-7.5pp | 31.0%+6.6pp | 24.4%-0.5pp | 24.9%+2.9pp | 22.0%-0.3pp | 22.3%-7.3pp | 29.6%+15.9pp | 13.7% |
| Operating Margin | 8.7%-10.4pp | 19.0%+16.3pp | 2.8%-6.3pp | 9.0%-0.4pp | 9.4%+1.4pp | 8.0%-8.7pp | 16.7%+33.4pp | -16.7% |
| Net Margin | 4.9%-8.4pp | 13.4%+13.2pp | 0.1%-5.4pp | 5.5%+0.2pp | 5.3%+1.2pp | 4.0%-7.5pp | 11.6%+27.4pp | -15.9% |
| Return on Equity | 2.9%-6.6pp | 9.5%+9.4pp | 0.1%-2.9pp | 3.0%-0.1pp | 3.1%+0.6pp | 2.4%-7.6pp | 10.1% | N/A |
| Return on Assets | 1.1%-2.7pp | 3.9%+3.9pp | 0.0%-1.3pp | 1.3%+0.1pp | 1.2%+0.3pp | 0.9%-2.9pp | 3.7%+6.0pp | -2.2% |
| Current Ratio | 2.01-0.1 | 2.11-0.3 | 2.37-1.0 | 3.39+1.2 | 2.21+0.4 | 1.80-0.2 | 2.02-0.1 | 2.16 |
| Debt-to-Equity | 1.52+0.1 | 1.46+0.1 | 1.40+0.8 | 0.56-0.3 | 0.82-1.0 | 1.84+0.1 | 1.69-0.0 | 1.70 |
| FCF Margin | -7.1%+0.3pp | -7.4%-4.3pp | -3.0%-52.2pp | 49.2%-5.7pp | 54.9%+55.3pp | -0.4%+5.4pp | -5.8%+64.9pp | -70.7% |
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Frequently Asked Questions
What is Douglas Dynamics Inc's annual revenue?
Douglas Dynamics Inc (PLOW) reported $568.5M in total revenue for fiscal year 2024. This represents a 0.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Douglas Dynamics Inc's revenue growing?
Douglas Dynamics Inc (PLOW) revenue grew by 0.1% year-over-year, from $568.2M to $568.5M in fiscal year 2024.
Is Douglas Dynamics Inc profitable?
Yes, Douglas Dynamics Inc (PLOW) reported a net income of $56.2M in fiscal year 2024, with a net profit margin of 9.9%.
What is Douglas Dynamics Inc's earnings per share (EPS)?
Douglas Dynamics Inc (PLOW) reported diluted earnings per share of $2.36 for fiscal year 2024. This represents a 140.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Douglas Dynamics Inc's EBITDA?
Douglas Dynamics Inc (PLOW) had EBITDA of $106.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Douglas Dynamics Inc have?
As of fiscal year 2024, Douglas Dynamics Inc (PLOW) had $5.1M in cash and equivalents against $147.5M in long-term debt.
What is Douglas Dynamics Inc's gross margin?
Douglas Dynamics Inc (PLOW) had a gross margin of 25.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Douglas Dynamics Inc's operating margin?
Douglas Dynamics Inc (PLOW) had an operating margin of 15.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Douglas Dynamics Inc's net profit margin?
Douglas Dynamics Inc (PLOW) had a net profit margin of 9.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Douglas Dynamics Inc pay dividends?
Yes, Douglas Dynamics Inc (PLOW) paid $1.18 per share in dividends during fiscal year 2024.
What is Douglas Dynamics Inc's return on equity (ROE)?
Douglas Dynamics Inc (PLOW) has a return on equity of 21.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Douglas Dynamics Inc's free cash flow?
Douglas Dynamics Inc (PLOW) generated $33.4M in free cash flow during fiscal year 2024. This represents a 1134.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Douglas Dynamics Inc's operating cash flow?
Douglas Dynamics Inc (PLOW) generated $41.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Douglas Dynamics Inc's total assets?
Douglas Dynamics Inc (PLOW) had $590.0M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Douglas Dynamics Inc's capital expenditures?
Douglas Dynamics Inc (PLOW) invested $7.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Douglas Dynamics Inc spend on research and development?
Douglas Dynamics Inc (PLOW) invested $8.4M in research and development during fiscal year 2024.
How many shares does Douglas Dynamics Inc have outstanding?
Douglas Dynamics Inc (PLOW) had 23M shares outstanding as of fiscal year 2024.
What is Douglas Dynamics Inc's current ratio?
Douglas Dynamics Inc (PLOW) had a current ratio of 3.39 as of fiscal year 2024, which is generally considered healthy.
What is Douglas Dynamics Inc's debt-to-equity ratio?
Douglas Dynamics Inc (PLOW) had a debt-to-equity ratio of 0.56 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Douglas Dynamics Inc's return on assets (ROA)?
Douglas Dynamics Inc (PLOW) had a return on assets of 9.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Douglas Dynamics Inc's Altman Z-Score?
Douglas Dynamics Inc (PLOW) has an Altman Z-Score of 3.79, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Douglas Dynamics Inc's Piotroski F-Score?
Douglas Dynamics Inc (PLOW) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Douglas Dynamics Inc's earnings high quality?
Douglas Dynamics Inc (PLOW) has an earnings quality ratio of 0.73x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Douglas Dynamics Inc cover its interest payments?
Douglas Dynamics Inc (PLOW) has an interest coverage ratio of 448.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Douglas Dynamics Inc?
Douglas Dynamics Inc (PLOW) scores 69 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.