What is DOUGLAS DYNAMICS, INC.'s earnings per share (EPS)?

DOUGLAS DYNAMICS, INC. (PLOW) reported diluted earnings per share of $1.96 for fiscal year 2025. This represents a -16.9% 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.

DOUGLAS DYNAMICS, INC. (PLOW) Financials

PLOW

FY2025 annual

Revenue $656.1M +15.4% YoY

Net Income $46.9M -16.5% YoY

EPS (Diluted) $1.96 -16.9% YoY

Free Cash Flow $63.9M +91.4% YoY

Market Cap $920.1M as of Oct 13, 2026

Price / Sales 1.3x on $699.1M revenue, trailing 12 months to June 30, 2026

Price / Earnings 19.6x on $46.9M net income, FY2025

Price / Book 3.1x on $299.7M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 3, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PLOW SEC filings page.

DOUGLAS DYNAMICS, INC. (PLOW) reported $656.1M in revenue for fiscal year 2025, up 15.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI PLOW FY2025 2026-10-03

Sales rebounded and cash generation strengthened in FY2025, but higher operating costs kept growth from translating into comparable operating profit.

FY2025 revenue rose 15.4% from FY2024 while gross margin reached 26.6%, indicating better economics before overhead. Operating margin nevertheless fell to 11.2%, so the sales rebound did not flow through to operating earnings.

Cash conversion was materially better than reported profit: operating cash flow of $74.7M exceeded net income of $46.9M. Free cash flow reached $63.9M after $10.8M of capital spending, indicating a relatively light reinvestment burden in FY2025.

Debt-to-equity fell from 0.8x in FY2023 to 0.5x in FY2025, showing reduced reliance on debt relative to equity. Yet current ratio declined from 3.4x in FY2024 to 2.8x in FY2025, so balance-sheet improvement is more evident in solvency than in the short-term liquidity cushion.

Financial Health Signals

Financial Health Score 62/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of DOUGLAS DYNAMICS, INC.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

DOUGLAS DYNAMICS, INC. has an operating margin of 11.2%, meaning the company retains $11 of operating profit per $100 of revenue. This strong profitability earns a score of 72/100, reflecting efficient cost management and pricing power. This is down from 15.6% the prior year.

Growth

DOUGLAS DYNAMICS, INC.'s revenue surged 15.4% year-over-year to $656.1M, reflecting rapid business expansion. This strong growth earns a score of 58/100.

Leverage

DOUGLAS DYNAMICS, INC. has a moderate D/E ratio of 0.51. This balance of debt and equity financing earns a leverage score of 37/100.

Liquidity

With a current ratio of 2.78, DOUGLAS DYNAMICS, INC. holds $2.78 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 75/100.

Cash Flow

DOUGLAS DYNAMICS, INC. has a free cash flow margin of 9.7%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

DOUGLAS DYNAMICS, INC. earns a strong 16.7% return on equity (ROE), meaning it generates $17 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 79/100. This is down from 21.3% the prior year.

Altman Z-Score Safe

3.60

DOUGLAS DYNAMICS, INC. scores 3.60, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

7/9

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.

Earnings Quality Cash-Backed

1.59x

For every $1 of reported earnings, DOUGLAS DYNAMICS, INC. generates $1.59 in operating cash flow ($74.7M OCF vs $46.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$214.6M

YoY+10.5%

QoQ+55.8%

5Y CAGR+6.4%

10Y CAGR+6.6%

DOUGLAS DYNAMICS, INC. generated $214.6M in revenue in Q2 2026. This represents an increase of 10.5% from the same quarter a year earlier. Against the prior quarter it is up 55.8%.

EBITDA

$39.3M

YoY-3.8%

QoQ+185.2%

DOUGLAS DYNAMICS, INC.'s EBITDA was $39.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.8% from the same quarter a year earlier. Against the prior quarter it is up 185.2%.

Net Income

$25.4M

YoY-2.2%

QoQ+298.0%

DOUGLAS DYNAMICS, INC. reported $25.4M in net income in Q2 2026. This represents a decrease of 2.2% from the same quarter a year earlier. Against the prior quarter it is up 298.0%.

EPS (Diluted)

$1.07

YoY-1.8%

QoQ+311.5%

5Y CAGR+12.3%

10Y CAGR+4.2%

DOUGLAS DYNAMICS, INC. earned $1.07 per diluted share (EPS) in Q2 2026. This represents a decrease of 1.8% from the same quarter a year earlier. Against the prior quarter it is up 311.5%.

Cash & Balance Sheet

Free Cash Flow

-$28.3M

YoY-97.5%

QoQ-582.1%

DOUGLAS DYNAMICS, INC. recorded an outflow of $28.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 97.5% from the same quarter a year earlier. Against the prior quarter it is down 582.1%.

Cash & Debt

$1.9M

YoY-76.5%

QoQ-63.9%

5Y CAGR-34.2%

10Y CAGR-27.8%

DOUGLAS DYNAMICS, INC. held $1.9M in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.30

YoY0.0%

QoQ0.0%

5Y CAGR+0.7%

10Y CAGR+2.3%

DOUGLAS DYNAMICS, INC. paid $0.30 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

23M

YoY+0.2%

QoQ-0.2%

5Y CAGR+0.1%

10Y CAGR+0.3%

DOUGLAS DYNAMICS, INC. had 23M shares outstanding in Q2 2026. This represents an increase of 0.2% from the same quarter a year earlier. Against the prior quarter it is down 0.2%.

Margins & Returns

Gross Margin

31.1%

YoY+0.1pp

QoQ+3.7pp

5Y change+0.1pp

10Y change-5.4pp

DOUGLAS DYNAMICS, INC.'s gross margin was 31.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.7 percentage points.

Operating Margin

16.5%

YoY-2.5pp

QoQ+9.3pp

DOUGLAS DYNAMICS, INC.'s operating margin was 16.5% in Q2 2026, reflecting core business profitability. This is down 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 9.3 percentage points.

Net Margin

11.8%

YoY-1.5pp

QoQ+7.2pp

DOUGLAS DYNAMICS, INC.'s net profit margin was 11.8% in Q2 2026, showing the share of revenue converted to profit. This is down 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.2 percentage points.

Return on Equity

8.5%

YoY-1.0pp

QoQ+6.2pp

DOUGLAS DYNAMICS, INC.'s ROE was 8.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.2 percentage points.

Capital Allocation

Share Buybacks

$3.0M

YoY-50.0%

QoQ0.0%

DOUGLAS DYNAMICS, INC. spent $3.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 50.0% from the same quarter a year earlier. It is unchanged from the prior quarter.

Capital Expenditures

$4.1M

YoY+39.6%

QoQ+31.0%

5Y CAGR+11.8%

10Y CAGR+1.3%

DOUGLAS DYNAMICS, INC. invested $4.1M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 39.6% from the same quarter a year earlier. Against the prior quarter it is up 31.0%.

R&D Spending

Not reported for Q2 2026.

PLOW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PLOW quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$699.1M	$656.1M+15.4%	$568.5M+0.1%	$568.2M-7.8%	$616.1M+13.8%	$541.5M+12.8%	$480.2M-16.0%	$571.7M+9.1%	$524.1M+10.3%	$474.9M+14.1%	$416.3M+4.0%	$400.4M+31.9%	$303.5M+56.2%	$194.3M+38.8%	$140.0M-32.9%	$208.8M
Cost of Revenue	N/A	$481.4M+14.2%	$421.7M-2.8%	$433.9M-6.6%	$464.6M+16.3%	$399.6M+13.6%	$351.9M-12.7%	$402.9M+9.1%	$369.2M+11.3%	$331.8M+17.6%	$282.3M+5.5%	$267.5M+42.9%	$187.2M+45.5%	$128.7M+33.9%	$96.1M-29.9%	$137.0M
Gross Profit	$190.8M	$174.7M+19.0%	$146.8M+9.4%	$134.3M-11.3%	$151.5M+6.8%	$141.9M+10.6%	$128.3M-24.0%	$168.8M+9.0%	$154.9M+8.2%	$143.1M+6.8%	$134.0M+0.8%	$132.9M+14.2%	$116.3M+77.2%	$65.7M+49.3%	$44.0M-38.8%	$71.8M
R&D Expenses	N/A	$7.7M-8.3%	$8.4M-16.7%	$10.1M-17.1%	$12.2M+19.8%	$10.2M+52.0%	$6.7M+17.3%	$5.7M+78.2%	$3.2M+9.2%	$2.9M-6.6%	$3.1M+6.2%	$3.0M	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$94.9M+3.5%	$91.7M+16.3%	$78.8M-4.1%	$82.2M+4.2%	$78.8M+22.0%	$64.6M-9.4%	$71.3M+1.9%	$70.0M+14.9%	$60.9M+13.6%	$53.6M+11.3%	$48.1M+25.7%	$38.3M+20.2%	$31.9M+60.2%	$19.9M-24.7%	$26.4M
Operating Income	N/A	$73.6M-17.0%	$88.7M+97.5%	$44.9M-23.6%	$58.8M+14.9%	$51.1M+168.1%	-$75.1M-186.8%	$86.6M+17.9%	$73.5M+3.7%	$70.8M+1.4%	$69.8M-9.8%	$77.4M+7.1%	$72.2M+162.5%	$27.5M+45.8%	$18.9M-53.0%	$40.2M
EBITDA	N/A	$89.0M-16.5%	$106.6M+60.1%	$66.6M-16.5%	$79.7M+11.5%	$71.5M+229.0%	-$55.4M-152.4%	$105.8M+14.3%	$92.5M+3.5%	$89.4M+3.3%	$86.5M-3.4%	$89.6M+10.1%	$81.4M+125.0%	$36.2M+34.6%	$26.9M-44.4%	$48.4M
Interest Expense	N/A	$0-100.0%	$198K-58.4%	$476K0.0%	$476K-73.0%	$1.8M+188.1%	$611K-96.4%	$16.8M-1.0%	$16.9M-7.6%	$18.3M+20.7%	$15.2M+39.5%	$10.9M+34.0%	$8.1M-2.4%	$8.3M-0.8%	$8.4M-5.9%	$8.9M
Income Tax	N/A	$14.6M-17.6%	$17.7M+221.9%	$5.5M-37.0%	$8.8M+124.6%	$3.9M+131.7%	-$12.3M-191.3%	$13.5M+13.5%	$11.9M+592.1%	-$2.4M-109.8%	$24.7M+11.8%	$22.1M+0.2%	$22.0M+198.7%	$7.4M+78.0%	$4.1M-63.4%	$11.3M
Net Income	N/A	$46.9M-16.5%	$56.2M+136.7%	$23.7M-38.6%	$38.6M+25.8%	$30.7M+135.5%	-$86.6M-276.0%	$49.2M+12.0%	$43.9M-20.6%	$55.3M+41.8%	$39.0M-11.7%	$44.2M+10.5%	$40.0M+243.3%	$11.6M+93.6%	$6.0M-68.4%	$19.0M
EPS (Basic)	N/A	$1.99-16.7%	$2.39+136.6%	$1.01-38.8%	$1.65+26.0%	$1.31+134.4%	-$3.81-278.9%	$2.13+11.5%	$1.91-21.1%	$2.42+41.5%	$1.71-12.3%	$1.95+9.6%	$1.78+242.3%	$0.52+92.6%	$0.27-69.0%	$0.87
EPS (Diluted)	$2.20	$1.96-16.9%	$2.36+140.8%	$0.98-39.9%	$1.63+26.4%	$1.29+133.9%	-$3.81-280.6%	$2.11+11.6%	$1.89-21.3%	$2.40+41.2%	$1.70-12.4%	$1.94+9.6%	$1.77+247.1%	$0.51+96.2%	$0.26-69.4%	$0.85
Diluted Shares (Avg)	N/A	24M+0.5%	24M+2.4%	23M+0.2%	23M-0.2%	23M+0.5%	23M-99.9%	22.81B+0.5%	22.70B+0.5%	22.59B+0.5%	22.48B+0.6%	22.34B+0.7%	22.19B+100451.4%	22M+0.5%	22M+0.7%	22M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Revenue	$214.6M+10.5%	$137.8M+19.8%	$184.5M+28.6%	$162.1M+25.3%	$194.3M-2.8%	$115.1M+20.3%	$143.5M+6.9%	$129.4M-10.2%
Cost of Revenue	$147.9M+10.3%	$100.0M+15.1%	N/A	$124.0M+25.9%	$134.0M-3.3%	$86.9M+13.3%	N/A	$98.5M-12.0%
Gross Profit	$66.8M+10.8%	$37.8M+34.2%	$48.1M+34.7%	$38.1M+23.4%	$60.3M-1.6%	$28.1M+48.7%	$35.7M+21.1%	$30.9M-3.9%
SG&A Expenses	$29.8M+37.1%	$26.3M+12.6%	N/A	$22.5M-12.5%	$21.8M-6.9%	$23.4M+8.8%	N/A	$25.7M+42.7%
Operating Income	$35.4M-4.2%	$9.9M+209.6%	N/A	$14.1M-69.3%	$37.0M+1.9%	$3.2M+149.9%	N/A	$45.9M+298.7%
EBITDA	$39.3M-3.8%	$13.8M+96.0%	N/A	$17.9M-64.3%	$40.8M+0.3%	$7.0M+752.3%	N/A	$50.1M+197.0%
Interest Expense	$2.3M-21.8%	$2.1M-13.5%	N/A	$3.8M-15.8%	$3.0M-27.9%	$2.4M-32.3%	N/A	$4.5M-3.0%
Income Tax	$8.3M+1.8%	$1.5M+344.2%	N/A	$2.5M-74.1%	$8.2M+5.2%	$342K+121.5%	N/A	$9.5M+733.9%
Net Income	$25.4M-2.2%	$6.4M+4208.1%	N/A	$8.0M-75.3%	$26.0M+6.6%	$148K+101.8%	N/A	$32.3M+456.9%
EPS (Basic)	$1.08-1.8%	$0.27+2600.0%	$0.54+63.6%	$0.34-75.2%	$1.10+6.8%	$0.01+102.7%	$0.33+10.0%	$1.37+448.0%
EPS (Diluted)	$1.07-1.8%	$0.26	$0.54+63.6%	$0.33-75.7%	$1.09+6.9%	$0.00+100.0%	$0.33+13.8%	$1.36+466.7%
Diluted Shares (Avg)	24M-0.4%	24M+2.0%	N/A	24M0.0%	24M+2.5%	23M+0.5%	N/A	24M+2.6%

Not reported in any period shown, so not listed: R&D Expenses.

PLOW Balance Sheet

PLOW quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$626.7M+6.2%	$590.0M-0.6%	$593.4M-0.6%	$596.9M+4.3%	$572.5M-1.2%	$579.2M-17.9%	$705.7M+4.4%	$676.2M-1.3%	$685.2M+2.9%	$666.2M+34.0%	$497.0M+4.0%	$478.0M+31.2%	$364.3M+7.7%	$338.4M-5.8%	$359.0M
Current Assets	$266.0M+11.7%	$238.2M-9.2%	$262.2M+3.7%	$252.9M+14.7%	$220.4M+1.5%	$217.2M+2.7%	$211.5M+6.2%	$199.1M+0.5%	$198.1M+12.3%	$176.4M+4.2%	$169.2M+18.7%	$142.5M+44.9%	$98.4M+9.8%	$89.6M-13.4%	$103.5M
Cash & Equivalents	$8.3M+62.1%	$5.1M-78.8%	$24.2M+16.9%	$20.7M-44.1%	$37.0M-9.9%	$41.0M+15.0%	$35.7M+28.2%	$27.8M-24.6%	$36.9M+98.2%	$18.6M-49.5%	$36.9M+98.2%	$18.6M-6.3%	$19.9M-17.7%	$24.1M-38.8%	$39.4M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$149.7M+9.2%	$137.0M-2.4%	$140.4M+2.8%	$136.5M+31.2%	$104.0M+30.9%	$79.5M+2.0%	$77.9M-4.9%	$82.0M+14.6%	$71.5M+0.9%	$70.9M+37.4%	$51.6M+6.9%	$48.2M+72.5%	$28.0M-7.6%	$30.3M+26.2%	$24.0M
Accounts Receivable	$97.6M+11.6%	$87.4M+4.4%	$83.8M-3.5%	$86.8M+22.1%	$71.0M-14.6%	$83.2M-5.3%	$87.9M+7.8%	$81.5M+3.0%	$79.1M+0.7%	$78.6M+16.1%	$67.7M+11.1%	$60.9M+43.9%	$42.3M+66.5%	$25.4M-25.3%	$34.0M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$116.8M+3.2%	$113.1M0.0%	$113.1M0.0%	$113.1M0.0%	$113.1M0.0%	$113.1M-53.1%	$241.0M0.0%	$241.0M0.0%	$241.0M+1.1%	$238.3M+48.1%	$160.9M0.0%	$161.0M+42.3%	$113.1M+5.5%	$107.2M0.0%	$107.2M
Total Liabilities	$345.3M+6.0%	$325.8M-10.0%	$361.9M+0.6%	$359.8M+0.5%	$357.9M-5.6%	$379.0M-3.4%	$392.5M-0.2%	$393.4M-8.2%	$428.5M-3.9%	$445.7M+50.3%	$296.5M-2.7%	$304.7M+45.8%	$209.0M+13.2%	$184.6M-5.6%	$195.6M
Current Liabilities	$95.8M+36.5%	$70.2M-40.8%	$118.5M+18.0%	$100.4M+22.6%	$81.9M+23.7%	$66.2M-15.2%	$78.1M-1.2%	$79.1M-2.1%	$80.8M+57.2%	$51.4M+23.1%	$41.7M-8.7%	$45.7M+26.6%	$36.1M+116.5%	$16.7M-48.9%	$32.6M
Non-Current Liabilities	$249.4M-2.4%	$255.6M+5.0%	$243.3M-6.2%	$259.4M-6.0%	$275.9M-11.8%	$312.8M-0.5%	$314.4M0.0%	$314.4M-9.6%	$347.7M-11.8%	$394.3M+54.8%	$254.8M-1.6%	$259.0M+49.8%	$172.9M+2.9%	$168.0M+3.0%	$163.0M
Long-Term Debt	$144.0M-2.4%	$147.5M-22.1%	$189.4M-8.8%	$207.7M	N/A	$236.7M+6.6%	$222.1M-8.6%	$242.9M-11.6%	$274.9M-10.4%	$306.7M+68.1%	$182.5M-2.1%	$186.5M+69.5%	$110.0M-0.9%	$111.0M-0.8%	$111.9M
Total Equity	$281.4M+6.5%	$264.2M+14.1%	$231.6M-2.3%	$237.1M+10.5%	$214.6M+7.2%	$200.2M-36.1%	$313.2M+10.8%	$282.8M+10.2%	$256.7M+16.4%	$220.5M+10.0%	$200.5M+15.7%	$173.3M+11.6%	$155.3M+1.0%	$153.7M-5.9%	$163.4M
Retained Earnings	$107.4M+21.4%	$88.4M+48.0%	$59.7M-5.9%	$63.5M+22.3%	$51.9M+8.7%	$47.7M-70.3%	$160.7M+17.5%	$136.8M+18.2%	$115.7M+40.5%	$82.4M+27.1%	$64.8M+58.8%	$40.8M+99.5%	$20.5M-25.7%	$27.5M-30.7%	$39.7M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Total Assets	$725.7M+8.1%	$630.3M+1.5%	$626.7M+6.2%	$694.9M+4.4%	$671.5M+8.8%	$621.0M+7.6%	$590.0M-0.6%	$665.6M-0.9%
Current Assets	$342.4M+4.8%	$267.7M-2.4%	$266.0M+11.7%	$348.5M+10.3%	$326.7M+11.2%	$274.3M+9.2%	$238.2M-9.2%	$316.1M-6.2%
Cash & Equivalents	$1.9M-76.5%	$5.2M-28.0%	$8.3M+62.1%	$10.6M+26.5%	$8.0M+90.2%	$7.2M+265.1%	$5.1M-78.8%	$8.4M-24.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$175.0M+14.2%	$185.8M+8.3%	$149.7M+9.2%	$138.7M-4.6%	$153.3M+9.9%	$171.5M-1.9%	$137.0M-2.4%	$145.4M-1.3%
Accounts Receivable	$156.6M+11.0%	$67.7M-2.2%	$97.6M+11.6%	$173.5M+13.3%	$141.2M+0.7%	$69.2M+18.2%	$87.4M+4.4%	$153.1M-7.4%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$116.8M+3.2%	$116.8M+3.2%	$116.8M+3.2%	$113.1M0.0%	$113.1M0.0%	$113.1M0.0%	$113.1M0.0%	$113.1M0.0%
Total Liabilities	$426.0M+7.0%	$350.9M-3.1%	$345.3M+6.0%	$419.6M+3.7%	$398.2M+4.7%	$362.2M+0.6%	$325.8M-10.0%	$404.8M-6.9%
Current Liabilities	$158.4M+2.4%	$100.9M-12.8%	$95.8M+36.5%	$173.7M+17.7%	$154.7M+6.6%	$115.8M-5.2%	$70.2M-40.8%	$147.5M-21.4%
Non-Current Liabilities	$267.6M+9.9%	$249.9M+1.4%	$249.4M-2.4%	$245.9M-4.4%	$243.5M+3.5%	$246.4M+3.6%	$255.6M+5.0%	$257.3M+4.1%
Long-Term Debt	N/A	N/A	$144.0M-2.4%	N/A	N/A	N/A	$147.5M-22.1%	N/A
Total Equity	$299.7M+9.7%	$279.4M+7.9%	$281.4M+6.5%	$275.3M+5.6%	$273.3M+15.5%	$258.9M+19.2%	$264.2M+14.1%	$260.8M+10.1%
Retained Earnings	$124.9M+24.2%	$106.6M+30.7%	$107.4M+21.4%	$101.5M+16.1%	$100.6M+61.9%	$81.6M+82.7%	$88.4M+48.0%	$87.5M+47.2%

PLOW Cash Flow Statement

PLOW quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$62.2M	$74.7M+81.6%	$41.1M+229.9%	$12.5M-68.9%	$40.0M-33.9%	$60.5M+13.4%	$53.4M-31.0%	$77.3M+32.9%	$58.2M-12.3%	$66.4M-5.1%	$69.9M+23.8%	$56.5M+5.1%	$53.7M+66.7%	$32.2M+106.5%	$15.6M-67.3%	$47.7M
Depreciation & Amortization	N/A	$15.4M-14.1%	$17.9M-17.4%	$21.7M+3.5%	$20.9M+3.1%	$20.3M+2.9%	$19.7M+2.7%	$19.2M+0.7%	$19.1M+2.7%	$18.6M+11.0%	$16.7M+36.3%	$12.3M+33.1%	$9.2M+6.1%	$8.7M+8.4%	$8.0M-1.9%	$8.2M
Stock-Based Compensation	N/A	$6.7M+38.3%	$4.9M+410.0%	$953K-85.8%	$6.7M+16.2%	$5.8M+104.7%	$2.8M-12.6%	$3.2M-28.8%	$4.5M+30.0%	$3.5M+20.8%	$2.9M-11.5%	$3.3M+14.2%	$2.9M+10.9%	$2.6M+19.4%	$2.2M+15.6%	$1.9M
Capital Expenditures	$13.0M	$10.8M+39.5%	$7.8M-20.5%	$9.8M-21.3%	$12.4M+4.4%	$11.9M-19.1%	$14.7M+27.3%	$11.5M+19.0%	$9.7M+28.1%	$7.6M-23.1%	$9.8M-1.8%	$10.0M+90.5%	$5.3M+89.3%	$2.8M+91.9%	$1.4M-39.1%	$2.4M
Free Cash Flow	$49.2M	$63.9M+91.4%	$33.4M+1134.4%	$2.7M-90.2%	$27.6M-43.2%	$48.7M+25.8%	$38.7M-41.2%	$65.8M+35.6%	$48.5M-17.5%	$58.8M-2.2%	$60.1M+29.3%	$46.5M-4.2%	$48.5M+64.5%	$29.5M+108.0%	$14.2M-68.8%	$45.4M
Investing Cash Flow	-$40.6M	-$37.5M-166.0%	$56.8M+639.8%	-$10.5M+12.7%	-$12.0M-7.5%	-$11.2M+22.7%	-$14.5M-25.6%	-$11.5M-19.0%	-$9.7M+35.2%	-$14.9M+92.2%	-$191.2M-775.9%	-$21.8M	N/A	N/A	N/A	N/A
Financing Cash Flow	-$27.8M	-$34.1M+70.9%	-$117.0M-7704.7%	$1.5M+103.5%	-$44.3M+17.1%	-$53.4M-59.3%	-$33.5M+42.1%	-$57.9M-0.6%	-$57.5M-73.6%	-$33.1M-132.2%	$103.0M+568.5%	-$22.0M	N/A	N/A	N/A	N/A
Dividends Paid	$28.2M	$27.9M+1.7%	$27.5M+0.1%	$27.4M+1.5%	$27.0M+1.9%	$26.5M+2.3%	$25.9M+3.0%	$25.2M+3.3%	$24.4M+11.0%	$22.0M+2.4%	$21.5M+6.3%	$20.2M+2.9%	$19.6M+4.8%	$18.7M+2.6%	$18.2M-29.3%	$25.8M
Share Buybacks	$6.0M	$6.0M	$0	$0-100.0%	$6.0M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Operating Cash Flow	-$24.2M-112.6%	-$994K+25.7%	$95.9M+28.9%	-$8.5M+39.9%	-$11.4M-554.1%	-$1.3M+93.8%	$74.4M-2.9%	-$14.2M-781.0%
Depreciation & Amortization	$3.8M-0.1%	$3.9M+0.9%	$3.9M+0.6%	$3.8M-10.6%	$3.8M-13.2%	$3.8M-28.5%	$3.9M-29.6%	$4.3M-20.5%
Stock-Based Compensation	$4.5M+186.4%	$2.5M+18.0%	N/A	$1.5M+91.3%	$1.6M-37.3%	$2.1M+505.6%	N/A	$794K
Capital Expenditures	$4.1M+39.6%	$3.2M+46.3%	$2.8M-26.7%	$2.9M+169.7%	$3.0M+77.4%	$2.2M+179.2%	$3.8M+31.6%	$1.1M-59.1%
Free Cash Flow	-$28.3M-97.5%	-$4.2M-18.8%	$93.2M+31.9%	-$11.4M+24.9%	-$14.3M-1816.4%	-$3.5M+84.4%	$70.6M-4.2%	-$15.2M-2546.7%
Investing Cash Flow	-$4.1M-39.6%	-$4.1M-89.2%	-$29.4M-685.8%	-$2.9M-104.6%	-$3.0M-108.4%	-$2.2M-62.7%	-$3.7M-33.7%	$63.3M+2701.1%
Financing Cash Flow	$25.0M+65.5%	$2.0M-64.7%	-$68.9M+6.9%	$14.1M+131.4%	$15.1M+1228.8%	$5.6M+628.3%	-$74.0M-21.7%	-$44.9M-657.3%
Dividends Paid	$7.1M+2.7%	$7.1M+1.6%	$7.0M+0.6%	$7.0M+1.5%	$6.9M+0.7%	$7.0M+3.9%	$7.0M+3.0%	$6.9M+0.4%
Share Buybacks	$3.0M-50.0%	$3.0M	$0	$0	$6.0M	$0	$0	$0

PLOW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PLOW quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	26.6%+0.8pp	25.8%+2.2pp	23.6%-0.9pp	24.6%-1.6pp	26.2%-0.5pp	26.7%-2.8pp	29.5%0.0pp	29.6%-0.6pp	30.1%-2.0pp	32.2%-1.0pp	33.2%-5.1pp	38.3%+4.5pp	33.8%+2.4pp	31.4%-3.0pp	34.4%
Operating Margin	11.2%-4.4pp	15.6%+7.7pp	7.9%-1.6pp	9.5%+0.1pp	9.4%+25.1pp	-15.7%-30.8pp	15.1%+1.1pp	14.0%-0.9pp	14.9%-1.9pp	16.8%-2.6pp	19.3%-4.5pp	23.8%+9.6pp	14.2%+0.7pp	13.5%-5.8pp	19.2%
Net Margin	7.1%-2.7pp	9.9%+5.7pp	4.2%-2.1pp	6.3%+0.6pp	5.7%+23.7pp	-18.0%-26.6pp	8.6%+0.2pp	8.4%-3.3pp	11.7%+2.3pp	9.4%-1.7pp	11.0%-2.1pp	13.2%+7.2pp	6.0%+1.7pp	4.3%-4.8pp	9.1%
Return on Equity	16.7%-4.6pp	21.3%+11.0pp	10.2%-6.0pp	16.3%+2.0pp	14.3%+57.5pp	-43.2%-58.9pp	15.7%+0.2pp	15.5%-6.0pp	21.6%+3.9pp	17.7%-4.3pp	22.0%-1.0pp	23.1%+15.6pp	7.5%+3.6pp	3.9%-7.7pp	11.7%
Return on Assets	7.5%-2.0pp	9.5%+5.5pp	4.0%-2.5pp	6.5%+1.1pp	5.4%+20.3pp	-14.9%-21.9pp	7.0%+0.5pp	6.5%-1.6pp	8.1%+2.2pp	5.9%-3.0pp	8.9%+0.5pp	8.4%+5.2pp	3.2%+1.4pp	1.8%-3.5pp	5.3%
Current Ratio	2.78-0.6x	3.39+1.2x	2.21-0.3x	2.52-0.2x	2.69-0.6x	3.28+0.6x	2.71+0.2x	2.52+0.1x	2.45-1.0x	3.43-0.6x	4.06+0.9x	3.12+0.4x	2.73-2.6x	5.37+2.2x	3.17
Debt-to-Equity	0.510.0x	0.56-0.3x	0.82-0.1x	0.88-0.8x	1.67+0.5x	1.18+0.5x	0.71-0.1x	0.86-0.2x	1.07-0.3x	1.39+0.5x	0.91-0.2x	1.08+0.4x	0.710.0x	0.720.0x	0.68
Asset Turnover	1.05+0.1x	0.960.0x	0.96-0.1x	1.03+0.1x	0.95+0.1x	0.830.0x	0.810.0x	0.78+0.1x	0.69+0.1x	0.62-0.2x	0.81+0.2x	0.64+0.1x	0.53+0.1x	0.41-0.2x	0.58
FCF Margin	9.7%+3.9pp	5.9%+5.4pp	0.5%-4.0pp	4.5%-4.5pp	9.0%+0.9pp	8.1%-3.4pp	11.5%+2.3pp	9.3%-3.1pp	12.4%-2.1pp	14.4%+2.8pp	11.6%-4.4pp	16.0%+0.8pp	15.2%+5.1pp	10.1%-11.6pp	21.7%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Gross Margin	31.1%+0.1pp	27.4%+3.0pp	26.1%+1.2pp	23.5%-0.4pp	31.0%+0.4pp	24.4%+4.7pp	24.9%+2.9pp	23.9%+1.6pp
Operating Margin	16.5%-2.5pp	7.2%+4.4pp	N/A	8.7%-26.7pp	19.0%+0.9pp	2.8%+9.5pp	N/A	35.4%+27.5pp
Net Margin	11.8%-1.5pp	4.6%+4.5pp	N/A	4.9%-20.0pp	13.4%+1.2pp	0.1%+8.9pp	N/A	24.9%+20.9pp
Return on Equity	8.5%-1.0pp	2.3%+2.2pp	N/A	2.9%-9.5pp	9.5%-0.8pp	0.1%+3.9pp	N/A	12.4%+9.9pp
Return on Assets	3.5%-0.4pp	1.0%+1.0pp	N/A	1.1%-3.7pp	3.9%-0.1pp	0.0%+1.5pp	N/A	4.9%+4.0pp
Current Ratio	2.160.0x	2.65+0.3x	2.78-0.6x	2.01-0.1x	2.11+0.1x	2.37+0.3x	3.39+1.2x	2.14+0.3x
Debt-to-Equity	1.420.0x	1.26-0.1x	0.510.0x	1.520.0x	1.46-0.1x	1.40-0.3x	0.56-0.3x	1.55-0.3x
Asset Turnover	0.300.0x	0.220.0x	0.29+0.1x	0.230.0x	0.290.0x	0.190.0x	0.240.0x	0.190.0x
FCF Margin	-13.2%-5.8pp	-3.0%0.0pp	50.5%+1.3pp	-7.1%+4.7pp	-7.4%-7.8pp	-3.0%+20.4pp	49.2%-5.7pp	-11.8%-11.4pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
DOUGLAS DYNAMICS, INC. PLOW	FY2025	$656.1M	$46.9M	7.1%	$920.1M	62/100
Standard Motor Products SMP	FY2025	$1.8B	$42.2M	2.4%	$819.2M	55/100
American Axle & Manufacturing Holdings, Inc. AXL	FY2025	$5.8B	-$19.7M	-0.3%	$2.1B	41/100
Microvast Holdings, Inc. MVST	FY2025	$427.5M	-$29.2M	-6.8%	$222.5M	41/100
Cooper-Standard Automotive Inc. CPS	FY2025	$2.7B	-$4.2M	-0.1%	$373.2M	29/100
Solid Power, Inc. SLDP	FY2025	$21.7M	-$93.4M	N/A	$544.2M	64/100

Where DOUGLAS DYNAMICS, INC. Ranks

Frequently Asked Questions

What is DOUGLAS DYNAMICS, INC.'s annual revenue?

DOUGLAS DYNAMICS, INC. (PLOW) reported $656.1M in total revenue for fiscal year 2025. This represents a 15.4% 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 15.4% year-over-year, from $568.5M to $656.1M in fiscal year 2025.

Is DOUGLAS DYNAMICS, INC. profitable?

Yes, DOUGLAS DYNAMICS, INC. (PLOW) reported a net income of $46.9M in fiscal year 2025, with a net profit margin of 7.1%.

What is DOUGLAS DYNAMICS, INC.'s EBITDA?

DOUGLAS DYNAMICS, INC. (PLOW) had EBITDA of $89.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does DOUGLAS DYNAMICS, INC. have?

As of fiscal year 2025, DOUGLAS DYNAMICS, INC. (PLOW) had $8.3M in cash and equivalents against $144.0M in long-term debt.

What is DOUGLAS DYNAMICS, INC.'s gross margin?

DOUGLAS DYNAMICS, INC. (PLOW) had a gross margin of 26.6% in fiscal year 2025, 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 11.2% in fiscal year 2025, 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 7.1% in fiscal year 2025, 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 2025.

What is DOUGLAS DYNAMICS, INC.'s return on equity (ROE)?

DOUGLAS DYNAMICS, INC. (PLOW) has a return on equity of 16.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is DOUGLAS DYNAMICS, INC.'s free cash flow?

DOUGLAS DYNAMICS, INC. (PLOW) generated $63.9M in free cash flow during fiscal year 2025. This represents a 91.4% 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 $74.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are DOUGLAS DYNAMICS, INC.'s total assets?

DOUGLAS DYNAMICS, INC. (PLOW) had $626.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are DOUGLAS DYNAMICS, INC.'s capital expenditures?

DOUGLAS DYNAMICS, INC. (PLOW) invested $10.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does DOUGLAS DYNAMICS, INC. spend on research and development?

DOUGLAS DYNAMICS, INC. (PLOW) invested $7.7M in research and development during fiscal year 2025.

Does DOUGLAS DYNAMICS, INC. buy back shares?

Yes, DOUGLAS DYNAMICS, INC. (PLOW) spent $6.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does DOUGLAS DYNAMICS, INC. have outstanding?

DOUGLAS DYNAMICS, INC. (PLOW) had 23M shares outstanding as of fiscal year 2025.

What is DOUGLAS DYNAMICS, INC.'s current ratio?

DOUGLAS DYNAMICS, INC. (PLOW) had a current ratio of 2.78 as of fiscal year 2025, 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 0.51 as of fiscal year 2025, 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 7.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is DOUGLAS DYNAMICS, INC.'s P/E ratio?

DOUGLAS DYNAMICS, INC. (PLOW) trades at 19.6x earnings, its market capitalization divided by net income of $46.9M net income, FY2025. The market capitalization is $920.1M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is DOUGLAS DYNAMICS, INC.'s price-to-sales ratio?

DOUGLAS DYNAMICS, INC. (PLOW) trades at 1.3x sales, its market capitalization divided by revenue of $699.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $920.1M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is DOUGLAS DYNAMICS, INC.'s Altman Z-Score?

DOUGLAS DYNAMICS, INC. (PLOW) has an Altman Z-Score of 3.60, 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 to 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 1.59x, considered cash-backed (high 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.

How financially healthy is DOUGLAS DYNAMICS, INC.?

DOUGLAS DYNAMICS, INC. (PLOW) scores 62 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.