Douglas Dynamics, Inc.

PLOW

PLOWDouglas Dynamics, Inc. US flag

New York Stock Exchange

44.78

USD

-0.48

- -

1.04BMarket Cap

Income Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	209	140	194	304	400	416	475	524	572	480	541	616	568	569	656
+ Sales & Services Revenue	209	140	194	304	400	416	475	524	572	480	541	616	568	569	656
- Cost of Revenue	137	96	129	187	268	282	332	369	403	352	400	465	434	422	481
+ Cost of Goods & Services	137	96	129	187	268	282	332	369	403	352	400	465	434	422	481
Gross Profit	72	44	66	116	133	134	143	155	169	128	142	151	134	147	175
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	32	25	37	44	56	64	72	81	82	76	90	93	89	99	101
+ Selling, General & Admin	26	20	32	38	48	54	61	70	71	65	79	82	79	92	95
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	5	5	6	6	7	11	11	11	11	11	11	11	11	8	6
Operating Income (Loss)	40	19	28	72	77	70	71	73	87	53	52	59	45	48	74
- Non-Operating (Income) Loss	10	9	9	10	11	6	18	18	24	152	18	11	16	-26	12
+ Interest Expense, Net	9	8	8	8	11	15	18	17	17	20	12	11	16	15	12
+ Interest Expense	9	8	8	8	11	15	18	17	17	20	12	11	16	15	12
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	1	- -	1	2	- -	-9	- -	1	7	131	6	- -	- -	-42	- -
Pretax Income	30	10	19	62	66	64	53	56	63	-99	35	47	29	74	62
- Income Tax Expense (Benefit)	11	4	7	22	22	25	-2	12	13	-12	4	9	6	18	15
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	19	6	12	40	44	39	55	44	49	-87	31	39	24	56	47
- Net Extraordinary Losses (Gains)	- -	- -	- -	1	1	1	1	1	1	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	1	1	1	1	1	1	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	19	6	11	39	44	38	55	43	49	-87	31	39	24	56	47
- Minority Interest	- -	- -	- -	-1	-1	-1	-1	-1	-1	- -	- -	- -	- -	- -	- -
Net Income, GAAP	19	6	12	40	44	39	55	44	49	-87	31	39	24	56	47
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	19	6	12	40	44	39	55	44	49	-87	31	39	24	56	47
EBIT	40	19	28	72	77	70	71	73	87	53	52	59	45	48	74
EBITDA	48	27	37	81	90	87	89	93	106	72	73	80	67	66	89
EBITDA Margin (%)	23.16	19.2	18.96	26.83	22.39	20.79	18.82	17.66	18.5	15.09	13.42	12.94	11.72	11.53	13.56
EBITA	40	19	28	72	77	70	71	73	87	53	52	59	45	48	74
Gross Margin (%)	34.4	31.39	33.78	38.33	33.18	32.18	30.13	29.56	29.53	26.72	26.2	24.58	23.63	25.83	26.63
Operating Margin (%)	19.24	13.47	14.49	23.79	19.32	16.77	14.91	14.02	15.14	10.98	9.67	9.54	7.9	8.38	11.22
Profit Margin (%)	9.12	4.29	5.99	13.17	11.03	9.37	11.65	8.38	8.6	-18.03	5.67	6.27	4.18	9.88	7.15
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.19	0.83	0.85	0.88	0.9	0.95	0.97	1.07	1.11	1.13	1.16	1.18	1.2	1.19	1.21
Depreciation Expense	8	8	9	9	12	17	19	19	19	20	20	21	22	18	15
Basic Weighted Avg Shares	22	22	22	22	22	22	23	23	23	23	23	23	23	23	23
Basic EPS, GAAP	0.87	0.27	0.53	1.8	1.98	1.74	2.45	1.94	2.16	-3.79	1.34	1.68	1.03	2.43	2.03
Basic EPS from Cont Ops	0.88	0.27	0.53	1.8	1.98	1.74	2.45	1.94	2.16	-3.79	1.34	1.68	1.03	2.43	2.03
Diluted Weighted Avg Shares	22	22	22	22	22	22	23	23	23	23	23	23	23	24	24
Diluted EPS, GAAP	0.86	0.27	0.53	1.8	1.98	1.74	2.45	1.93	2.16	-3.79	1.34	1.68	1.03	2.39	1.99
Diluted EPS from Cont Ops	0.87	0.27	0.53	1.8	1.98	1.74	2.45	1.93	2.16	-3.79	1.34	1.68	1.03	2.39	1.99

Balance Sheet (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	103	90	98	143	169	176	198	199	212	217	220	253	262	238	266
+ Cash, Cash Equivalents & STI	39	24	20	24	37	19	37	28	36	41	37	21	24	5	8
+ Cash & Cash Equivalents	39	24	20	24	37	19	37	28	36	41	37	21	24	5	8
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	34	30	45	61	73	80	79	81	88	83	72	87	89	87	98
+ Accounts Receivable, Net	34	25	42	61	68	79	79	81	88	83	71	87	84	87	98
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	5	3	- -	5	2	- -	- -	- -	- -	1	- -	5	- -	1
+ Inventories	24	30	28	48	52	75	79	86	84	88	107	138	143	140	154
+ Raw Materials	1	1	2	9	11	27	28	31	29	32	45	50	45	46	58
+ Work In Process	- -	- -	- -	- -	- -	4	8	7	7	8	9	19	14	13	16
+ Finished Goods	23	29	26	39	41	40	36	43	42	39	50	67	81	78	76
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	4	8	4	7	8	3	1	2	3	4
+ Other ST Assets	6	5	6	9	8	3	3	4	4	5	5	8	7	6	5
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	256	249	266	338	334	490	487	477	494	362	352	344	331	352	361
+ Property, Plant & Equip, Net	21	20	25	38	43	52	54	55	81	86	85	86	85	112	114
+ Property, Plant & Equip	48	49	57	72	82	97	105	114	147	160	168	179	186	201	212
- Accumulated Depreciation	27	29	32	34	39	44	51	58	66	74	83	92	101	89	98
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	234	229	241	300	291	438	433	422	413	276	267	258	246	240	247
+ Total Intangible Assets	229	224	237	296	289	433	427	416	405	266	255	245	234	227	233
+ Goodwill	107	107	113	161	161	238	241	241	241	113	113	113	113	113	117
+ Other Intangible Assets	122	117	123	135	128	195	186	175	164	153	142	132	121	114	116
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	5	5	5	4	3	4	6	6	8	10	12	13	12	13	14
Total Assets	359	338	364	480	503	666	685	676	706	579	572	597	593	590	627
+ Payables & Accruals	14	10	14	36	31	35	30	32	33	35	44	68	41	47	57
+ Accounts Payable	5	5	8	10	15	17	16	19	16	16	27	49	31	32	39
+ Accrued Taxes	- -	- -	- -	1	- -	- -	3	- -	3	5	- -	3	- -	2	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	9	5	7	26	16	18	10	13	14	14	17	15	10	13	18
+ ST Debt	11	1	14	2	2	7	40	37	33	14	18	17	61	10	24
+ ST Borrowings	11	1	14	2	2	7	40	37	29	10	14	12	56	3	17
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	4	4	5	5	5	7	7
+ Other ST Liabilities	7	5	8	8	9	10	11	10	12	17	19	15	16	13	16
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	7	5	8	8	9	10	11	10	12	17	19	15	16	13	16
Total Current Liabilities	33	17	36	46	42	51	81	79	78	66	82	100	119	70	96
+ LT Debt	112	111	110	186	183	307	275	243	241	254	221	209	195	211	195
+ LT Borrowings	112	111	110	186	183	307	275	243	222	237	206	195	181	147	135
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	19	17	15	14	14	65	60
+ Other LT Liabilities	51	57	63	75	78	88	73	71	73	59	54	50	48	44	54
+ Accrued Liabilities	28	35	46	50	55	55	39	48	47	27	30	30	28	25	33
+ Pension Liabilities	22	21	12	19	17	17	17	8	14	16	17	15	14	14	15
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	1	1	5	6	6	16	17	15	12	16	8	6	6	6	6
Total Noncurrent Liabilities	163	168	173	261	261	394	348	314	314	313	276	259	243	256	249
Total Liabilities	196	185	209	307	303	446	428	393	393	379	358	360	362	326	345
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	131	133	136	138	142	145	148	152	155	158	164	165	165	170	171
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	131	133	135	138	142	145	147	152	155	158	164	164	165	170	171
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	40	28	20	41	65	82	116	137	161	48	52	63	60	88	107
+ Other Equity	-7	-7	-1	-6	-6	-7	-7	-6	-3	-5	-1	9	6	5	3
Equity Before Minority Interest	163	154	155	173	200	220	257	283	313	200	215	237	232	264	281
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	163	154	155	173	200	220	257	283	313	200	215	237	232	264	281
Total Liabilities & Equity	359	338	364	480	503	666	685	676	706	579	572	597	593	590	627
Shares Outstanding	22	22	22	22	22	23	23	23	23	23	23	23	23	23	23
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	23	22	20	19	19	72	67
Net Debt	84	88	104	164	147	295	278	252	215	205	183	187	213	144	143
Net Debt to Equity	51.11	57.13	67.04	94.58	73.46	133.76	108.48	89.15	68.69	102.49	85.22	78.86	92.12	54.57	50.97
Tangible Common Equity Ratio	-50.43	-61.11	-63.57	-66.5	-41.05	-91.26	-66.07	-51.03	-30.42	-20.98	-12.81	-2.16	-0.73	10.33	12.29
Current Ratio	3.17	5.37	2.73	3.12	4.06	3.43	2.45	2.52	2.71	3.28	2.69	2.52	2.21	3.39	2.78
Cash Conversion Cycle	114.91	162.06	127.4	121.05	110.35	126.82	127.07	120.72	115.54	137.63	121.69	114.53	139.14	149.35	136.57

Cash Flow Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	19	6	12	40	44	39	55	44	49	-87	31	39	24	56	47
+ Depreciation & Amortization	8	8	9	9	12	17	19	19	19	20	20	21	22	18	15
+ Non-Cash Items	10	11	19	7	13	8	-11	15	7	119	15	3	14	-31	26
+ Stock-Based Compensation	2	2	3	3	3	3	4	5	3	3	6	7	1	5	7
+ Deferred Income Taxes	6	8	11	- -	6	5	-15	10	-2	-20	2	-3	8	-3	9
+ Asset Impairment Charge	- -	- -	1	- -	- -	- -	- -	- -	- -	128	1	- -	- -	1	- -
+ Other Non-Cash Adj	2	1	5	4	4	- -	1	1	6	8	6	-1	5	-35	10
+ Chg in Non-Cash Work Cap	11	-10	-7	-2	-13	6	3	-20	2	1	-5	-22	-47	-1	-13
+ (Inc) Dec in Accts Receiv	3	8	-17	-4	-7	2	-1	-1	-8	3	12	-14	3	-4	-6
+ (Inc) Dec in Inventories	-1	-6	6	-4	-5	1	1	-12	4	-2	-24	-32	-4	3	-1
+ (Inc) Dec in Prepaid Assets	- -	-5	2	2	-6	2	- -	-1	-2	-4	-2	3	-14	2	-3
+ Inc (Dec) in Accts Payable	7	-6	4	3	8	-4	3	3	4	7	10	23	-25	3	8
+ Inc (Dec) in Other	1	-1	-3	- -	-2	5	- -	-9	4	-3	-2	-2	-6	-6	-11
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	48	16	32	54	56	70	66	58	77	53	61	40	12	41	75
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	64	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	64	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	- -	- -	- -	-1	- -	- -	- -	- -	-6	- -	- -	-6
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	-1	- -	- -	- -	- -	-6	- -	- -	-6
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	-27	-87	-12	-181	-7	- -	- -	- -	- -	- -	- -	- -	-26
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	-27	-87	-12	-181	-7	- -	- -	- -	- -	- -	- -	- -	-26
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-2	-1	-3	-5	-10	-10	-8	-10	-12	-14	-11	-12	-11	-7	-11
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-2	-1	-30	-91	-22	-191	-15	-10	-12	-14	-11	-12	-11	57	-37
+ Dividends Paid	-26	-18	-19	-20	-20	-21	-22	-24	-25	-26	-27	-27	-27	-27	-28
+ Net Cash From Debt	1	-11	25	63	-2	127	-3	-33	-33	-6	-26	-11	29	-89	-5
+ Cash From Debt	124	- -	26	188	- -	129	- -	- -	- -	271	224	- -	48	- -	149
+ Repayments of Debt	-122	-11	-1	-125	-2	-3	-3	-33	-33	-277	-250	-11	-18	-89	-153
+ Other Financing Activities	-2	- -	-13	-2	- -	-2	-7	- -	- -	-1	-1	- -	- -	- -	5
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-26	-30	-7	42	-22	103	-33	-58	-58	-34	-53	-44	2	-117	-34
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	19	-15	-4	4	13	-18	18	-9	8	5	-4	-16	3	-19	3
EBITDA	48	27	37	81	90	87	89	93	106	72	73	80	67	66	89
EBITDA Margin (%)	23.16	19.2	18.96	26.83	22.39	20.79	18.82	17.66	18.5	15.09	13.42	12.94	11.72	11.53	13.56
Free Cash Flow	48	16	32	54	56	70	66	58	77	53	61	40	12	41	75
Net Cash Paid for Acquisitions	- -	- -	27	87	12	181	7	- -	- -	- -	- -	- -	- -	- -	26
Free Cash Flow to Firm	53	21	37	59	64	79	- -	72	90	- -	71	49	25	53	84
Free Cash Flow to Equity	49	5	57	118	55	197	63	25	45	47	35	29	42	16	70
Free Cash Flow per Basic Share	2.2	0.71	1.46	2.42	2.53	3.11	2.94	2.57	3.39	2.34	2.64	1.75	0.54	1.78	3.24
Price/Free Cash Flow	6.68	20.24	11.51	8.85	8.34	10.82	12.87	14.01	16.23	18.31	14.82	20.7	54.66	13.51	10.33
Cash Flow to Net Income	2.51	2.6	2.77	1.34	1.28	1.79	1.2	1.33	1.57	-0.62	1.97	1.04	0.53	0.73	1.59
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -