Douglas Dynamics IncDouglas Dynamics Inc
Douglas Dynamics Inc

Douglas Dynamics Inc

PLOW
Consumer Discretionary·Automobile Components

Douglas Dynamics, Inc. engages in the manufacture of commercial work truck attachments and equipment. It operates through the Work Truck Attachments and Work Truck Solutions segments. The Work Truck Attachments segment focuses on the manufacture and sale of snow and ice control attachments under the FISHER, SNOWEX, and WESTERN brands and truck-mounted service cranes and dump hoists under the VENCO and VENTURO brands. The Work Truck Solutions segment includes manufactured municipal snow, ice control products, the up-fit of market attachments, and storage solutions under the HENDERSON brand, DEJANA brand, and its related sub-brands. The company was founded by Douglas Seaman in 1977 and is headquartered in Milwaukee, WI.

Wisconsin; U.S.A
Market cap
$908.5MNo data
Revenue
$656.1M+15.4% YoY
Net income
$46.9M−16.5% YoY
Free cash flow
$63.9M+91.4% YoY

Market

Listed stock
PLOWPriceNYSE
Loading…Loading…1Y

Financial performance

Revenue
$656.1M+15.4% YoY
Operating income
$73.6M−17.0% YoY
Net income
$46.9M−16.5% YoY
Free cash flow
$63.9M+91.4% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $541.5M, 2022 $616.1M, 2023 $568.2M, 2024 $568.5M, 2025 $656.1M. Operating income: 2021 $51.1M, 2022 $58.8M, 2023 $44.9M, 2024 $88.7M, 2025 $73.6M. Net income: 2021 $30.7M, 2022 $38.6M, 2023 $23.7M, 2024 $56.2M, 2025 $46.9M. Free cash flow: 2021 $49.3M, 2022 $27.6M, 2023 $2.7M, 2024 $33.4M, 2025 $63.9M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
15.4%+1534 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $51.1M, 2022-12-31 $58.8M, 2023-12-31 $44.9M, 2024-12-31 $88.7M, 2025-12-31 $73.6M. Net income: 2021-12-31 $30.7M, 2022-12-31 $38.6M, 2023-12-31 $23.7M, 2024-12-31 $56.2M, 2025-12-31 $46.9M. Free cash flow: 2021-12-31 $49.3M, 2022-12-31 $27.6M, 2023-12-31 $2.7M, 2024-12-31 $33.4M, 2025-12-31 $63.9M

Growth heatmap

2022202320242025CAGR
Revenue
+13.8%
-7.8%
+0.1%
+15.4%
+4.9%
Gross profit
+6.8%
-11.3%
+9.4%
+19.0%
+5.3%
Operating income
+14.9%
-23.6%
+97.5%
-17.0%
+9.5%
Free cash flow
-44.0%
-90.2%
+1134.4%
+91.4%
+6.7%

Earnings quality

Operating cash flow
$74.7M+81.6% YoY
Net income
$46.9M−16.5% YoY
Free cash flow
$63.9M+91.4% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 159%, 2024-12-31 73%, 2023-12-31 53%, 2022-12-31 104%, 2021-12-31 197%. Free cash flow: 2025-12-31 136%, 2024-12-31 59%, 2023-12-31 11%, 2022-12-31 72%, 2021-12-31 161%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data