Douglas Dynamics (PLOW) Financials

$23.57 +0.39 (+1.67%)

Closing price 03:59 PM Eastern

Extended Trading

$23.52 -0.05 (-0.20%)

As of 04:14 PM Eastern

Annual Income Statements for Douglas Dynamics

This table shows Douglas Dynamics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	39	24	56
Consolidated Net Income / (Loss)	39	24	56
Net Income / (Loss) Continuing Operations	39	24	56
Total Pre-Tax Income	47	29	74
Total Operating Income	59	45	89
Total Gross Profit	151	134	147
Total Revenue	616	568	569
Operating Revenue	616	568	569
Total Cost of Revenue	465	434	422
Operating Cost of Revenue	465	434	422
Total Operating Expenses	93	89	58
Selling, General & Admin Expense	82	79	92
Amortization Expense	11	11	7.52
Impairment Charge	0.00	0.00	1.22
Other Special Charges / (Income)	0.00	-	-42
Total Other Income / (Expense), net	-11	-16	-15
Interest & Investment Income	-11	-16	-15
Other Income / (Expense), net	-0.14	0.00	0.44
Income Tax Expense	8.75	5.51	18
Basic Earnings per Share	$1.65	$1.01	$2.39
Weighted Average Basic Shares Outstanding	22.89M	22.98M	23.09M
Diluted Earnings per Share	$1.63	$0.98	$2.36
Weighted Average Diluted Shares Outstanding	22.89M	22.98M	23.09M
Weighted Average Basic & Diluted Shares Outstanding	22.89M	22.98M	23.09M
Cash Dividends to Common per Share	$1.16	$1.18	$1.18

This table shows Douglas Dynamics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	13	12	-13	24	5.79	7.08	-8.35	24	32	7.91
Consolidated Net Income / (Loss)	13	12	-13	24	5.79	7.08	-8.35	24	32	7.91
Net Income / (Loss) Continuing Operations	13	12	-13	24	5.79	7.08	-8.35	24	32	7.91
Total Pre-Tax Income	16	13	-17	31	6.93	8.20	-9.94	32	42	9.97
Total Operating Income	19	17	-14	35	12	13	-6.42	36	46	13
Total Gross Profit	41	38	11	61	32	30	19	61	31	36
Total Revenue	166	160	83	207	144	134	96	200	129	144
Operating Revenue	166	160	83	207	144	134	96	200	129	144
Total Cost of Revenue	125	122	71	146	112	105	77	139	99	108
Operating Cost of Revenue	125	122	71	146	112	105	77	139	99	108
Total Operating Expenses	22	21	25	27	21	17	25	25	-15	23
Selling, General & Admin Expense	19	19	22	24	18	14	21	23	26	21
Amortization Expense	2.63	2.63	2.63	2.63	2.63	2.63	2.63	1.63	1.63	1.63
Total Other Income / (Expense), net	-3.28	-3.63	-2.83	-3.83	-4.57	-4.45	-3.52	-4.18	-4.12	-3.01
Interest & Investment Income	-3.27	-3.40	-2.86	-3.74	-4.61	-4.47	-3.52	-4.12	-4.47	-3.14
Other Income / (Expense), net	-0.02	-0.23	0.04	-0.09	0.04	0.02	0.00	-0.05	0.35	0.14
Income Tax Expense	2.90	1.51	-3.52	6.77	1.14	1.12	-1.59	7.79	9.48	2.06
Basic Earnings per Share	$0.57	$0.50	($0.58)	$1.02	$0.25	$0.32	($0.37)	$1.03	$1.37	$0.36
Weighted Average Basic Shares Outstanding	22.89M	22.89M	22.91M	22.97M	22.98M	22.98M	23.01M	23.09M	23.09M	23.09M
Diluted Earnings per Share	$0.56	$0.50	($0.58)	$1.01	$0.24	$0.31	($0.37)	$1.02	$1.36	$0.35
Weighted Average Diluted Shares Outstanding	22.89M	22.89M	22.91M	22.97M	22.98M	22.98M	23.01M	23.09M	23.58M	23.09M
Weighted Average Basic & Diluted Shares Outstanding	22.89M	22.89M	22.98M	22.98M	22.98M	22.98M	23.09M	23.09M	23.09M	23.09M
Cash Dividends to Common per Share	$0.29	$0.29	$0.30	$0.30	$0.30	$0.28	$0.30	$0.30	$0.30	$0.28

This table details how cash moves in and out of Douglas Dynamics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-16	3.49	-19
Net Cash From Operating Activities	40	12	41
Net Cash From Continuing Operating Activities	40	12	41
Net Income / (Loss) Continuing Operations	39	24	56
Consolidated Net Income / (Loss)	39	24	56
Depreciation Expense	21	22	18
Amortization Expense	0.49	0.59	0.70
Non-Cash Adjustments To Reconcile Net Income	6.40	5.63	-29
Changes in Operating Assets and Liabilities, net	-26	-39	-4.48
Net Cash From Investing Activities	-12	-11	57
Net Cash From Continuing Investing Activities	-12	-11	57
Purchase of Property, Plant & Equipment	-12	-11	-7.81
Other Investing Activities, net	0.00	0.00	65
Net Cash From Financing Activities	-44	1.54	-117
Net Cash From Continuing Financing Activities	-44	1.54	-117
Repayment of Debt	-11	-19	-42
Repurchase of Common Equity	-6.00	0.00	0.00
Payment of Dividends	-27	-27	-27
Issuance of Debt	0.00	47	-47
Other Financing Activities, net	0.00	0.75	-0.20
Cash Interest Paid	12	18	19
Cash Income Taxes Paid	7.03	15	14

This table details how cash moves in and out of Douglas Dynamics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-3.20	18	-18	0.48	7.70	13	-22	2.22	4.22	-3.29
Net Cash From Operating Activities	-16	115	-57	-9.31	2.08	77	-22	2.51	-14	74
Net Cash From Continuing Operating Activities	-16	115	-57	-9.31	2.08	77	-22	2.51	-14	74
Net Income / (Loss) Continuing Operations	13	12	-13	24	5.79	7.08	-8.35	24	32	7.91
Consolidated Net Income / (Loss)	13	12	-13	24	5.79	7.08	-8.35	24	32	7.91
Depreciation Expense	5.23	5.31	5.36	5.44	5.38	5.48	5.35	4.41	4.28	3.86
Amortization Expense	0.12	0.12	0.15	0.15	0.15	0.15	0.15	0.20	0.18	0.18
Non-Cash Adjustments To Reconcile Net Income	-0.54	-0.60	2.09	3.49	-0.77	0.82	3.12	4.31	-40	3.18
Changes in Operating Assets and Liabilities, net	-34	98	-51	-42	-8.47	63	-22	-31	-11	59
Net Cash From Investing Activities	-3.34	-3.12	-2.75	-2.54	-2.43	-2.80	-1.33	-1.42	63	-3.74
Net Cash From Continuing Investing Activities	-3.34	-3.12	-2.75	-2.54	-2.43	-2.80	-1.33	-1.42	63	-3.74
Purchase of Property, Plant & Equipment	-3.34	-3.12	-2.75	-2.54	-2.43	-2.80	-1.33	-1.42	-1.23	-3.83
Other Investing Activities, net	-	-	-	-	-	-	-	-	-	0.09
Net Cash From Financing Activities	16	-94	42	12	8.06	-61	0.77	1.14	-45	-74
Net Cash From Continuing Financing Activities	16	-94	42	12	8.06	-61	0.77	1.14	-45	-74
Payment of Dividends	-6.76	-6.75	-6.96	-6.85	-6.88	-6.75	-6.75	-6.86	-6.91	-6.96
Issuance of Debt	26	-84	52	22	27	-54	8.00	8.00	4.00	-67

This table presents Douglas Dynamics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	597	593	590
Total Current Assets	253	262	238
Cash & Equivalents	21	24	5.12
Accounts Receivable	87	84	87
Inventories, net	138	143	140
Prepaid Expenses	7.77	6.90	6.05
Current Deferred & Refundable Income Taxes	0.00	4.82	0.00
Plant, Property, & Equipment, net	69	67	41
Total Noncurrent Assets	275	264	310
Goodwill	113	113	113
Intangible Assets	132	121	114
Employee Benefit Assets	8.87	9.20	10
Other Noncurrent Operating Assets	22	20	73
Total Liabilities & Shareholders' Equity	597	593	590
Total Liabilities	360	362	326
Total Current Liabilities	100	119	70
Short-Term Debt	11	54	0.00
Accounts Payable	49	31	32
Accrued Expenses	30	26	26
Current Deferred & Payable Income Tax Liabilities	3.49	0.00	1.69
Other Current Liabilities	6.07	7.56	10
Total Noncurrent Liabilities	259	243	256
Long-Term Debt	195	181	147
Noncurrent Deferred & Payable Income Tax Liabilities	30	28	25
Noncurrent Employee Benefit Liabilities	15	14	14
Other Noncurrent Operating Liabilities	20	20	71
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	237	232	264
Total Preferred & Common Equity	237	232	264
Total Common Equity	237	232	264
Common Stock	165	165	170
Retained Earnings	63	60	88
Accumulated Other Comprehensive Income / (Loss)	9.13	6.36	5.47

This table presents Douglas Dynamics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	655	585	641	672	577	617	666
Total Current Assets	310	248	305	337	251	294	316
Cash & Equivalents	2.84	2.90	3.38	11	1.97	4.20	8.41
Accounts Receivable	165	48	139	165	59	140	153
Inventories, net	134	186	154	152	178	143	149
Prepaid Expenses	7.49	7.28	7.68	9.03	6.54	5.34	5.74
Current Deferred & Refundable Income Taxes	0.00	3.41	-	-	6.22	0.92	0.00
Plant, Property, & Equipment, net	67	67	67	67	64	63	39
Total Noncurrent Assets	278	270	269	268	262	260	310
Goodwill	113	113	113	113	113	113	113
Intangible Assets	134	129	126	124	118	117	115
Employee Benefit Assets	8.34	9.16	9.48	9.15	9.98	10	11
Other Noncurrent Operating Assets	22	19	20	22	20	20	71
Total Liabilities & Shareholders' Equity	655	585	641	672	577	617	666
Total Liabilities	424	369	403	435	360	380	405
Total Current Liabilities	162	114	151	188	122	145	148
Short-Term Debt	95	63	85	104	66	78	67
Accounts Payable	26	23	23	42	24	28	35
Accrued Expenses	34	22	30	29	24	30	31
Current Deferred & Payable Income Tax Liabilities	1.58	0.00	2.66	3.98	-	-	3.73
Other Current Liabilities	5.31	6.10	10	9.61	8.44	9.30	10
Total Noncurrent Liabilities	263	254	252	247	238	235	257
Long-Term Debt	198	192	190	186	177	173	147
Noncurrent Deferred & Payable Income Tax Liabilities	31	29	29	28	28	28	25
Noncurrent Employee Benefit Liabilities	15	16	16	14	15	15	15
Other Noncurrent Operating Liabilities	19	18	18	20	18	20	70
Total Equity & Noncontrolling Interests	230	216	238	237	217	237	261
Total Preferred & Common Equity	230	216	238	237	217	237	261
Total Common Equity	230	216	238	237	217	237	261
Common Stock	163	165	169	169	166	168	169
Retained Earnings	59	43	61	59	45	62	87
Accumulated Other Comprehensive Income / (Loss)	8.39	7.54	8.91	8.77	6.70	6.24	4.20

This table displays calculated financial ratios and metrics derived from Douglas Dynamics' official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	13.78%	-7.77%	0.06%
EBITDA Growth	10.29%	-16.10%	60.43%
EBIT Growth	14.12%	-23.38%	98.51%
NOPAT Growth	5.56%	-23.91%	84.98%
Net Income Growth	25.80%	-38.56%	136.69%
EPS Growth	26.36%	-39.88%	140.82%
Operating Cash Flow Growth	-33.87%	-68.85%	229.87%
Free Cash Flow Firm Growth	-58.65%	-16.21%	526.45%
Invested Capital Growth	7.10%	4.68%	-8.33%
Revenue Q/Q Growth	1.13%	-4.31%	1.66%
EBITDA Q/Q Growth	4.65%	-5.04%	-1.05%
EBIT Q/Q Growth	6.02%	-7.72%	0.51%
NOPAT Q/Q Growth	9.21%	-9.89%	-0.57%
Net Income Q/Q Growth	7.51%	-15.75%	1.50%
EPS Q/Q Growth	9.40%	-16.24%	1.72%
Operating Cash Flow Q/Q Growth	623.87%	-75.24%	-5.11%
Free Cash Flow Firm Q/Q Growth	216.26%	-63.97%	-10.78%
Invested Capital Q/Q Growth	-18.79%	-14.04%	-12.89%
Profitability Metrics	-	-	-
Gross Margin	24.58%	23.63%	25.83%
EBITDA Margin	12.99%	11.82%	18.95%
Operating Margin	9.54%	7.90%	15.60%
EBIT Margin	9.51%	7.90%	15.68%
Profit (Net Income) Margin	6.27%	4.18%	9.88%
Tax Burden Percent	81.52%	81.15%	75.99%
Interest Burden Percent	80.80%	65.10%	82.88%
Effective Tax Rate	18.48%	18.85%	24.01%
Return on Invested Capital (ROIC)	11.71%	8.42%	15.89%
ROIC Less NNEP Spread (ROIC-NNEP)	6.64%	2.01%	9.50%
Return on Net Nonoperating Assets (RNNOA)	5.38%	1.70%	6.76%
Return on Equity (ROE)	17.09%	10.12%	22.65%
Cash Return on Invested Capital (CROIC)	4.86%	3.85%	24.59%
Operating Return on Assets (OROA)	10.02%	7.55%	15.07%
Return on Assets (ROA)	6.60%	3.99%	9.49%
Return on Common Equity (ROCE)	17.09%	10.12%	22.65%
Return on Equity Simple (ROE_SIMPLE)	16.28%	10.24%	21.25%
Net Operating Profit after Tax (NOPAT)	48	36	67
NOPAT Margin	7.77%	6.41%	11.86%
Net Nonoperating Expense Percent (NNEP)	5.07%	6.41%	6.39%
Return On Investment Capital (ROIC_SIMPLE)	10.80%	7.81%	16.41%
Cost of Revenue to Revenue	75.42%	76.37%	74.17%
SG&A Expenses to Revenue	13.34%	13.88%	16.13%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.05%	15.73%	10.22%
Earnings before Interest and Taxes (EBIT)	59	45	89
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	80	67	108
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	3.20	2.81	2.07
Price to Tangible Book Value (P/TBV)	0.00	0.00	14.54
Price to Revenue (P/Rev)	1.23	1.14	0.96
Price to Earnings (P/E)	19.66	27.41	9.72
Dividend Yield	3.50%	4.17%	4.99%
Earnings Yield	5.09%	3.65%	10.29%
Enterprise Value to Invested Capital (EV/IC)	2.23	1.95	1.69
Enterprise Value to Revenue (EV/Rev)	1.53	1.52	1.21
Enterprise Value to EBITDA (EV/EBITDA)	11.81	12.82	6.38
Enterprise Value to EBIT (EV/EBIT)	16.12	19.18	7.71
Enterprise Value to NOPAT (EV/NOPAT)	19.73	23.63	10.20
Enterprise Value to Operating Cash Flow (EV/OCF)	23.61	69.07	16.71
Enterprise Value to Free Cash Flow (EV/FCFF)	47.56	51.73	6.59
Leverage & Solvency	-	-	-
Debt to Equity	0.87	1.02	0.56
Long-Term Debt to Equity	0.82	0.78	0.56
Financial Leverage	0.81	0.85	0.71
Leverage Ratio	2.59	2.54	2.39
Compound Leverage Factor	2.09	1.65	1.98
Debt to Total Capital	46.54%	50.40%	35.70%
Short-Term Debt to Total Capital	2.51%	11.52%	0.00%
Long-Term Debt to Total Capital	44.03%	38.88%	35.70%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	53.46%	49.61%	64.30%
Debt to EBITDA	2.58	3.50	1.36
Net Debt to EBITDA	2.32	3.14	1.31
Long-Term Debt to EBITDA	2.44	2.70	1.36
Debt to NOPAT	4.31	6.46	2.18
Net Debt to NOPAT	3.88	5.79	2.10
Long-Term Debt to NOPAT	4.08	4.98	2.18
Altman Z-Score	3.08	2.72	3.02
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	2.52	2.21	3.39
Quick Ratio	1.07	0.91	1.32
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	20	17	104
Operating Cash Flow to CapEx	332.28%	118.52%	526.65%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	1.05	0.95	0.96
Accounts Receivable Turnover	7.81	6.66	6.64
Inventory Turnover	3.80	3.10	2.99
Fixed Asset Turnover	9.10	8.36	10.46
Accounts Payable Turnover	12.13	10.76	13.24
Days Sales Outstanding (DSO)	46.75	54.77	54.95
Days Inventory Outstanding (DIO)	96.00	117.90	122.16
Days Payable Outstanding (DPO)	30.10	33.91	27.57
Cash Conversion Cycle (CCC)	112.64	138.76	149.54
Capital & Investment Metrics	-	-	-
Invested Capital	423	443	406
Invested Capital Turnover	1.51	1.31	1.34
Increase / (Decrease) in Invested Capital	28	20	-37
Enterprise Value (EV)	945	861	687
Market Capitalization	759	650	546
Book Value per Share	$10.36	$10.08	$11.44
Tangible Book Value per Share	($0.33)	($0.11)	$1.63
Total Capital	444	467	411
Total Debt	206	235	147
Total Long-Term Debt	195	181	147
Net Debt	186	211	142
Capital Expenditures (CapEx)	12	11	7.81
Debt-free, Cash-free Net Working Capital (DFCFNWC)	143	173	163
Debt-free Net Working Capital (DFNWC)	164	197	168
Net Working Capital (NWC)	152	144	168
Net Nonoperating Expense (NNE)	9.29	13	11
Net Nonoperating Obligations (NNO)	186	211	142
Total Depreciation and Amortization (D&A)	21	22	19
Debt-free, Cash-free Net Working Capital to Revenue	23.20%	30.51%	28.66%
Debt-free Net Working Capital to Revenue	26.56%	34.76%	29.56%
Net Working Capital to Revenue	24.75%	25.30%	29.56%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.65	$1.01	$2.39
Adjusted Weighted Average Basic Shares Outstanding	22.89M	22.98M	23.09M
Adjusted Diluted Earnings per Share	$1.63	$0.98	$2.36
Adjusted Weighted Average Diluted Shares Outstanding	22.89M	22.98M	23.09M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	22.89M	22.98M	23.09M
Normalized Net Operating Profit after Tax (NOPAT)	48	36	36
Normalized NOPAT Margin	7.77%	6.41%	6.37%
Pre Tax Income Margin	7.69%	5.15%	13.00%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	70.00%	115.67%	48.93%
Augmented Payout Ratio	85.54%	115.67%	48.93%

This table displays calculated financial ratios and metrics derived from Douglas Dynamics' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	30.14%	4.49%	-19.55%	10.51%	-13.23%	-16.00%	15.88%	-3.55%	-10.22%	6.93%
EBITDA Growth	59.50%	19.44%	-430.66%	29.69%	-31.18%	-16.31%	88.78%	1.99%	196.88%	-6.25%
EBIT Growth	86.91%	25.41%	-389.40%	34.85%	-40.66%	-22.89%	53.36%	5.16%	300.56%	3.54%
NOPAT Growth	80.16%	38.48%	-369.45%	37.23%	-39.82%	-25.85%	53.45%	2.06%	268.62%	-5.75%
Net Income Growth	88.90%	30.58%	-235.47%	35.20%	-56.39%	-38.53%	36.29%	1.56%	456.94%	11.73%
EPS Growth	86.67%	38.89%	-222.22%	34.67%	-57.14%	-38.00%	36.21%	0.99%	466.67%	12.90%
Operating Cash Flow Growth	50.09%	43.12%	-118.97%	71.09%	112.77%	-33.09%	62.01%	126.93%	-781.05%	-2.89%
Free Cash Flow Firm Growth	-1,860.60%	-199.95%	-10.19%	101.76%	134.21%	33.28%	111.53%	6,322.77%	449.56%	631.59%
Invested Capital Growth	13.26%	7.10%	10.24%	5.40%	-1.11%	4.68%	-2.27%	-5.06%	-9.54%	-8.33%
Revenue Q/Q Growth	-11.44%	-3.79%	-48.35%	151.10%	-30.47%	-6.85%	-28.75%	108.98%	-35.27%	10.94%
EBITDA Q/Q Growth	-19.72%	-11.85%	-137.79%	585.00%	-57.40%	7.20%	-105.07%	4,507.66%	23.99%	-66.15%
EBIT Q/Q Growth	-23.95%	-15.53%	-183.80%	350.49%	-66.54%	9.77%	-150.69%	664.73%	27.47%	-71.63%
NOPAT Q/Q Growth	-18.64%	-7.83%	-165.59%	379.01%	-64.32%	13.58%	-141.17%	711.77%	28.86%	-70.96%
Net Income Q/Q Growth	-25.08%	-13.31%	-213.88%	282.79%	-75.83%	22.19%	-218.02%	391.40%	32.54%	-75.49%
EPS Q/Q Growth	-25.33%	-10.71%	-216.00%	274.14%	-76.24%	29.17%	-219.35%	375.68%	33.33%	-74.26%
Operating Cash Flow Q/Q Growth	49.45%	803.33%	-149.70%	83.64%	122.33%	3,585.28%	-128.22%	111.60%	-664.78%	625.49%
Free Cash Flow Firm Q/Q Growth	4.63%	70.42%	-300.01%	101.56%	1,755.15%	-157.69%	169.11%	768.34%	58.74%	-44.20%
Invested Capital Q/Q Growth	7.71%	-18.79%	10.89%	8.66%	1.06%	-14.04%	3.53%	5.56%	-3.71%	-12.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.85%	23.71%	13.66%	29.61%	22.29%	21.98%	19.78%	30.67%	23.86%	24.90%
EBITDA Margin	14.93%	13.68%	-10.01%	19.33%	11.84%	13.63%	-0.97%	20.44%	39.15%	11.95%
Operating Margin	11.71%	10.42%	-16.71%	16.67%	7.98%	9.42%	-6.71%	18.16%	35.44%	9.04%
EBIT Margin	11.70%	10.28%	-16.67%	16.63%	8.00%	9.43%	-6.71%	18.13%	35.71%	9.13%
Profit (Net Income) Margin	8.00%	7.20%	-15.88%	11.56%	4.02%	5.27%	-8.73%	12.18%	24.93%	5.51%
Tax Burden Percent	82.10%	88.41%	78.85%	77.97%	83.59%	86.36%	84.00%	75.76%	77.28%	79.33%
Interest Burden Percent	83.20%	79.29%	120.81%	89.16%	60.06%	64.72%	154.90%	88.63%	90.33%	76.02%
Effective Tax Rate	17.90%	11.59%	0.00%	22.03%	16.41%	13.64%	0.00%	24.24%	22.72%	20.67%
Return on Invested Capital (ROIC)	11.95%	13.88%	-15.60%	16.12%	7.65%	10.68%	-5.89%	15.90%	31.23%	9.61%
ROIC Less NNEP Spread (ROIC-NNEP)	10.95%	12.13%	-17.06%	15.01%	6.30%	8.74%	-7.45%	14.68%	29.91%	8.26%
Return on Net Nonoperating Assets (RNNOA)	13.42%	9.83%	-18.97%	17.54%	7.66%	7.40%	-8.49%	16.03%	29.04%	5.87%
Return on Equity (ROE)	25.37%	23.71%	-34.56%	33.67%	15.31%	18.08%	-14.38%	31.93%	60.27%	15.48%
Cash Return on Invested Capital (CROIC)	-3.49%	4.86%	-0.91%	4.17%	8.92%	3.85%	11.24%	13.60%	23.84%	24.59%
Operating Return on Assets (OROA)	11.36%	10.83%	-17.50%	16.32%	7.16%	9.01%	-6.71%	16.54%	29.86%	8.78%
Return on Assets (ROA)	7.76%	7.59%	-16.67%	11.35%	3.60%	5.03%	-8.73%	11.11%	20.85%	5.29%
Return on Common Equity (ROCE)	25.37%	23.71%	-34.56%	33.67%	15.31%	18.08%	-14.38%	31.93%	60.27%	15.48%
Return on Equity Simple (ROE_SIMPLE)	15.58%	0.00%	13.59%	14.97%	11.88%	0.00%	13.12%	12.19%	21.22%	0.00%
Net Operating Profit after Tax (NOPAT)	16	15	-9.66	27	9.61	11	-4.50	28	35	10
NOPAT Margin	9.62%	9.21%	-11.70%	13.00%	6.67%	8.13%	-4.70%	13.76%	27.39%	7.17%
Net Nonoperating Expense Percent (NNEP)	1.00%	1.76%	1.47%	1.11%	1.35%	1.94%	1.56%	1.22%	1.32%	1.35%
Return On Investment Capital (ROIC_SIMPLE)	-	3.32%	-	-	-	2.34%	-	-	-	2.50%
Cost of Revenue to Revenue	75.15%	76.29%	86.34%	70.39%	77.71%	78.02%	80.22%	69.33%	76.14%	75.10%
SG&A Expenses to Revenue	11.55%	11.64%	27.19%	11.66%	12.49%	10.60%	22.46%	11.69%	19.85%	14.72%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.13%	13.29%	30.37%	12.93%	14.31%	12.56%	26.49%	12.51%	-11.58%	15.86%
Earnings before Interest and Taxes (EBIT)	19	16	-14	34	12	13	-6.42	36	46	13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	25	22	-8.26	40	17	18	-0.93	41	51	17
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.59	3.20	3.19	2.76	2.80	2.81	2.52	2.28	2.44	2.07
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	6,691.98	0.00	0.00	80.50	19.63	14.54
Price to Revenue (P/Rev)	0.98	1.23	1.16	1.07	1.12	1.14	0.94	0.94	1.14	0.96
Price to Earnings (P/E)	16.62	19.66	23.50	18.42	23.53	27.41	19.22	18.73	11.51	9.72
Dividend Yield	4.43%	3.50%	3.86%	4.10%	4.08%	4.17%	4.95%	5.04%	4.28%	4.99%
Earnings Yield	6.02%	5.09%	4.26%	5.43%	4.25%	3.65%	5.20%	5.34%	8.69%	10.29%
Enterprise Value to Invested Capital (EV/IC)	1.70	2.23	2.01	1.82	1.83	1.95	1.72	1.63	1.81	1.69
Enterprise Value to Revenue (EV/Rev)	1.46	1.53	1.58	1.51	1.58	1.52	1.36	1.37	1.51	1.21
Enterprise Value to EBITDA (EV/EBITDA)	11.60	11.81	13.62	11.83	13.30	12.82	10.59	10.46	7.73	6.38
Enterprise Value to EBIT (EV/EBIT)	16.04	16.12	19.80	16.40	19.33	19.18	15.09	14.58	9.49	7.71
Enterprise Value to NOPAT (EV/NOPAT)	20.22	19.73	23.89	19.82	23.26	23.63	19.02	18.85	12.42	10.20
Enterprise Value to Operating Cash Flow (EV/OCF)	160.40	23.61	103.62	28.99	18.67	69.07	16.51	13.22	19.43	16.71
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	47.56	0.00	44.83	20.35	51.73	15.14	11.66	7.20	6.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.27	0.87	1.18	1.15	1.22	1.02	1.12	1.06	0.82	0.56
Long-Term Debt to Equity	0.86	0.82	0.89	0.80	0.78	0.78	0.82	0.73	0.56	0.56
Financial Leverage	1.23	0.81	1.11	1.17	1.22	0.85	1.14	1.09	0.97	0.71
Leverage Ratio	2.85	2.59	2.68	2.74	2.84	2.54	2.68	2.65	2.69	2.39
Compound Leverage Factor	2.37	2.05	3.24	2.44	1.71	1.64	4.15	2.35	2.43	1.81
Debt to Total Capital	55.99%	46.54%	54.14%	53.57%	54.96%	50.40%	52.82%	51.50%	45.02%	35.70%
Short-Term Debt to Total Capital	18.17%	2.51%	13.38%	16.60%	19.68%	11.52%	14.34%	16.03%	14.13%	0.00%
Long-Term Debt to Total Capital	37.82%	44.03%	40.76%	36.97%	35.28%	38.88%	38.49%	35.48%	30.89%	35.70%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	44.01%	53.46%	45.86%	46.43%	45.04%	49.61%	47.18%	48.50%	54.98%	64.30%
Debt to EBITDA	3.83	2.58	3.69	3.50	4.09	3.50	3.26	3.34	1.96	1.36
Net Debt to EBITDA	3.80	2.32	3.64	3.46	3.93	3.14	3.24	3.28	1.88	1.31
Long-Term Debt to EBITDA	2.59	2.44	2.78	2.42	2.62	2.70	2.38	2.30	1.35	1.36
Debt to NOPAT	6.68	4.31	6.47	5.87	7.15	6.46	5.86	6.01	3.15	2.18
Net Debt to NOPAT	6.62	3.88	6.39	5.80	6.87	5.79	5.82	5.91	3.03	2.10
Long-Term Debt to NOPAT	4.51	4.08	4.87	4.05	4.59	4.98	4.27	4.14	2.16	2.18
Altman Z-Score	2.27	2.84	2.44	2.53	2.24	2.54	2.26	2.41	2.50	2.59
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.92	2.52	2.16	2.02	1.80	2.21	2.06	2.03	2.14	3.39
Quick Ratio	1.04	1.07	0.45	0.95	0.94	0.91	0.50	1.00	1.09	1.32
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-45	-13	-53	0.83	15	-8.87	6.13	53	85	47
Operating Cash Flow to CapEx	-486.90%	3,666.86%	-2,071.18%	-366.29%	85.45%	2,738.28%	-1,628.09%	176.18%	-1,150.20%	1,943.68%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.97	1.05	1.05	0.98	0.90	0.95	1.00	0.91	0.84	0.96
Accounts Receivable Turnover	4.21	7.81	13.06	4.61	3.59	6.66	10.89	4.11	3.51	6.64
Inventory Turnover	3.79	3.80	2.74	3.24	3.15	3.10	2.42	2.91	2.79	2.99
Fixed Asset Turnover	9.26	9.10	8.96	9.22	8.85	8.36	8.83	8.82	10.49	10.46
Accounts Payable Turnover	21.39	12.13	22.55	22.75	13.33	10.76	18.62	17.13	10.89	13.24
Days Sales Outstanding (DSO)	86.70	46.75	27.95	79.21	101.61	54.77	33.53	88.89	103.91	54.95
Days Inventory Outstanding (DIO)	96.29	96.00	133.00	112.80	115.74	117.90	151.07	125.59	131.02	122.16
Days Payable Outstanding (DPO)	17.07	30.10	16.19	16.04	27.39	33.91	19.61	21.31	33.52	27.57
Cash Conversion Cycle (CCC)	165.92	112.64	144.76	175.97	189.96	138.76	164.99	193.18	201.42	149.54
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	521	423	469	510	515	443	458	484	466	406
Invested Capital Turnover	1.24	1.51	1.33	1.24	1.15	1.31	1.25	1.16	1.14	1.34
Increase / (Decrease) in Invested Capital	61	28	44	26	-5.77	20	-11	-26	-49	-37
Enterprise Value (EV)	887	945	944	928	941	861	789	788	842	687
Market Capitalization	597	759	691	657	663	650	547	540	637	546
Book Value per Share	$10.07	$10.36	$9.46	$10.36	$10.31	$10.08	$9.44	$10.25	$11.29	$11.44
Tangible Book Value per Share	($0.74)	($0.33)	($1.12)	($0.06)	$0.00	($0.11)	($0.63)	$0.29	$1.40	$1.63
Total Capital	524	444	472	513	526	467	460	488	474	411
Total Debt	293	206	255	275	289	235	243	251	214	147
Total Long-Term Debt	198	195	192	190	186	181	177	173	147	147
Net Debt	290	186	253	271	278	211	241	247	205	142
Capital Expenditures (CapEx)	3.34	3.12	2.75	2.54	2.43	2.80	1.33	1.42	1.23	3.83
Debt-free, Cash-free Net Working Capital (DFCFNWC)	240	143	193	235	242	173	193	223	227	163
Debt-free Net Working Capital (DFNWC)	243	164	196	239	253	197	195	227	236	168
Net Working Capital (NWC)	148	152	133	154	149	144	129	149	169	168
Net Nonoperating Expense (NNE)	2.70	3.21	3.45	2.98	3.82	3.84	3.86	3.16	3.18	2.38
Net Nonoperating Obligations (NNO)	290	186	253	271	278	211	241	247	205	142
Total Depreciation and Amortization (D&A)	5.36	5.44	5.50	5.59	5.53	5.63	5.49	4.61	4.45	4.04
Debt-free, Cash-free Net Working Capital to Revenue	39.47%	23.20%	32.46%	38.22%	40.73%	30.51%	33.22%	38.82%	40.62%	28.66%
Debt-free Net Working Capital to Revenue	39.94%	26.56%	32.94%	38.77%	42.60%	34.76%	33.56%	39.55%	42.12%	29.56%
Net Working Capital to Revenue	24.32%	24.75%	22.35%	24.94%	25.16%	25.30%	22.21%	25.92%	30.14%	29.56%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.57	$0.50	($0.58)	$1.02	$0.25	$0.32	($0.37)	$1.03	$1.37	$0.36
Adjusted Weighted Average Basic Shares Outstanding	22.89M	22.89M	22.91M	22.97M	22.98M	22.98M	23.01M	23.09M	23.09M	23.09M
Adjusted Diluted Earnings per Share	$0.56	$0.50	($0.58)	$1.01	$0.24	$0.31	($0.37)	$1.02	$1.36	$0.35
Adjusted Weighted Average Diluted Shares Outstanding	22.89M	22.89M	22.91M	22.97M	22.98M	22.98M	23.01M	23.09M	23.58M	23.09M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	22.89M	22.89M	22.98M	22.98M	22.98M	22.98M	23.09M	23.09M	23.09M	23.09M
Normalized Net Operating Profit after Tax (NOPAT)	16	15	-9.66	27	9.61	11	-3.64	28	2.75	10
Normalized NOPAT Margin	9.62%	9.21%	-11.70%	13.00%	6.67%	8.13%	-3.80%	13.76%	2.12%	7.17%
Pre Tax Income Margin	9.74%	8.15%	-20.14%	14.83%	4.81%	6.10%	-10.39%	16.07%	32.26%	6.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	74.95%	70.00%	92.62%	76.65%	97.46%	115.67%	95.61%	94.41%	49.30%	48.93%
Augmented Payout Ratio	91.65%	85.54%	92.62%	76.65%	97.46%	115.67%	95.61%	94.41%	49.30%	48.93%

Frequently Asked Questions About Douglas Dynamics' Financials

When does Douglas Dynamics's fiscal year end?

According to the most recent income statement we have on file, Douglas Dynamics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Douglas Dynamics' net income changed over the last 2 years?

Douglas Dynamics' net income appears to be on an upward trend, with a most recent value of $56.15 million in 2024, rising from $38.61 million in 2022. The previous period was $23.72 million in 2023.

What is Douglas Dynamics's operating income?

Douglas Dynamics's total operating income in 2024 was $88.71 million, based on the following breakdown:

Total Gross Profit: $146.84 million
Total Operating Expenses: $58.13 million

How has Douglas Dynamics revenue changed over the last 2 years?

Over the last 2 years, Douglas Dynamics' total revenue changed from $616.07 million in 2022 to $568.50 million in 2024, a change of -7.7%.

How much debt does Douglas Dynamics have?

Douglas Dynamics' total liabilities were at $325.77 million at the end of 2024, a 10.0% decrease from 2023, and a 9.5% decrease since 2022.

How much cash does Douglas Dynamics have?

In the past 2 years, Douglas Dynamics' cash and equivalents has ranged from $5.12 million in 2024 to $24.16 million in 2023, and is currently $5.12 million as of their latest financial filing in 2024.

How has Douglas Dynamics' book value per share changed over the last 2 years?

Over the last 2 years, Douglas Dynamics' book value per share changed from 10.36 in 2022 to 11.44 in 2024, a change of 10.4%.

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This page (NYSE:PLOW) was last updated on 4/15/2025 by MarketBeat.com Staff

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Douglas Dynamics (PLOW) Financials

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Douglas Dynamics (PLOW) Financials

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