Douglas Dynamics, Inc. Financial Ratios — PLOW Stock

Profitability (USD)

	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	43.4	17.76	48.07	129.46	83.27	52.83	55.72	34.71	33	-82.86	61.35	66.68	38.37	75.56	47.79
Return on Assets (%)	5.39	1.72	3.31	9.46	8.98	6.67	8.19	6.45	7.12	-13.47	5.33	6.6	3.99	9.49	7.71
Return on Capital (%)	14.75	7.21	11.64	23.86	21.26	14.81	- -	13.36	14.49	- -	13.55	16.41	12.01	21.62	17.63
Return on Invested Capital (%)	8.73	4.04	6.32	14.52	13.81	9.31	- -	10.17	11.8	- -	10.04	10.44	7.65	7.45	11.42
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
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
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
Incremental Operating Margin (%)	58.66	30.99	17.1	40.35	5.3	-47.56	1.7	5.4	27.52	36.96	-0.63	8.59	28.91	836.2	29.67
Pretax Margin (%)	14.55	7.25	9.79	20.43	16.55	15.3	11.14	10.64	10.95	-20.58	6.39	7.69	5.15	13	9.38
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
Net Income to Common Margin (%)	9.01	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
Effective Tax Rate (%)	37.31	40.8	38.8	35.54	33.33	38.76	- -	21.26	21.48	- -	11.27	18.48	18.85	24.01	23.75
Dvd Payout Ratio (%)	134.24	299.8	158.22	48.31	45.05	54.24	39.21	54.81	50.56	-29.95	86.42	70	115.67	48.93	59.57
Sustainable Growth Rate (%)	-14.86	-35.48	-27.99	66.92	45.76	24.18	33.87	15.69	16.31	-107.68	8.33	20	-6.01	38.59	19.32

Credit (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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	123	112	124	188	184	313	315	280	274	268	240	227	257	221	219
ST Debt	11	1	14	2	2	7	40	37	33	14	18	17	61	10	24
LT Debt	112	111	110	186	183	307	275	243	241	254	221	209	195	211	195
Total Debt/EBITDA	2.54	4.16	3.37	2.31	2.05	3.62	3.53	3.02	2.59	3.7	3.3	2.84	3.86	3.38	2.46
Net Debt/EBITDA	1.73	3.27	2.83	2.01	1.64	3.41	3.12	2.72	2.03	2.83	2.52	2.35	3.2	2.2	1.61
Total Debt/EBIT	3.06	5.93	4.4	2.6	2.38	4.49	4.45	3.81	3.16	5.08	4.58	3.86	5.72	4.65	2.98
Net Debt/EBIT	2.08	4.65	3.7	2.27	1.9	4.22	3.93	3.43	2.48	3.89	3.49	3.18	4.75	3.03	1.95
EBITDA to Interest Expense	5.42	3.2	4.42	10.02	8.23	5.7	4.88	5.46	6.3	3.58	6.14	7.08	4.25	4.29	7.34
EBITDA-CapEx/Interest Expense	5.42	3.2	4.42	10.02	8.23	5.7	4.88	5.46	6.3	3.58	6.14	7.08	4.25	4.29	7.34
EBIT to Interest Expense	4.51	2.25	3.38	8.88	7.1	4.59	3.86	4.34	5.16	2.61	4.42	5.22	2.87	3.12	6.08
Interest Expense	9	8	8	8	11	15	18	17	17	20	12	11	16	15	12
Common Equity/Total Assets	11.13	8.2	5.68	8.54	12.93	12.4	16.92	20.26	22.81	8.28	9.1	10.67	10.11	15.03	17.17
Long-Term Debt/Equity (%)	68.47	72.2	70.84	107.61	91.03	139.13	107.09	85.92	76.98	126.93	103.19	88.28	84.37	80.03	69.39
Long-Term Debt/Capital (%)	68.67	79.45	76.05	81.38	73.24	77.44	63.73	58.28	55.47	80.43	75.85	72.12	61.7	68.19	59.79
Long-Term Debt/Total Assets (%)	31.16	32.8	30.2	38.81	36.27	46.04	40.12	35.93	34.16	43.87	38.69	35.07	32.92	35.84	31.16
Total Debt/Equity (%)	75.24	72.83	79.83	108.55	91.84	142.2	122.85	98.99	87.36	133.86	111.78	95.54	110.86	83.82	77.83
Total Debt/Capital (%)	75.47	80.14	85.7	82.09	73.89	79.14	73.11	67.14	62.96	84.83	82.15	78.05	81.06	71.41	67.06
Total Debt/Total Assets (%)	34.24	33.09	34.03	39.15	36.6	47.06	46.02	41.39	38.77	46.27	41.9	37.95	43.26	37.54	34.95
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
Net Debt/Capital (%)	67.63	75.99	83.43	79.97	69.36	78.12	70.6	64.79	53.93	74.64	71.71	69.36	72.92	47.27	45.06
EBITDA	48	27	37	81	90	87	89	93	106	72	73	80	67	66	89
EBITDA-CapEx	48	27	37	81	90	87	89	93	106	72	73	80	67	66	89
Operating Income (Loss)	40	19	28	72	77	70	71	73	87	53	52	59	45	48	74

Liquidity (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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	1.21	1.45	0.55	0.53	0.88	0.36	0.46	0.35	0.46	0.62	0.45	0.21	0.2	0.07	0.09
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
Quick Ratio	2.25	3.27	1.8	1.86	2.62	1.92	1.44	1.38	1.58	1.88	1.33	1.07	0.95	1.32	1.11
CFO/Avg Current Liab	1.96	0.63	1.22	1.31	1.29	1.5	1	0.73	0.98	0.74	0.82	0.44	0.11	0.44	0.9
Common Equity/Total Assets	11.13	8.2	5.68	8.54	12.93	12.4	16.92	20.26	22.81	8.28	9.1	10.67	10.11	15.03	17.17
Long-Term Debt/Equity (%)	68.47	72.2	70.84	107.61	91.03	139.13	107.09	85.92	76.98	126.93	103.19	88.28	84.37	80.03	69.39
Long-Term Debt/Capital (%)	68.67	79.45	76.05	81.38	73.24	77.44	63.73	58.28	55.47	80.43	75.85	72.12	61.7	68.19	59.79
Long-Term Debt/Total Assets (%)	31.16	32.8	30.2	38.81	36.27	46.04	40.12	35.93	34.16	43.87	38.69	35.07	32.92	35.84	31.16
Total Debt/Equity (%)	75.24	72.83	79.83	108.55	91.84	142.2	122.85	98.99	87.36	133.86	111.78	95.54	110.86	83.82	77.83
Total Debt/Capital (%)	75.47	80.14	85.7	82.09	73.89	79.14	73.11	67.14	62.96	84.83	82.15	78.05	81.06	71.41	67.06
Total Debt/Total Assets (%)	34.24	33.09	34.03	39.15	36.6	47.06	46.02	41.39	38.77	46.27	41.9	37.95	43.26	37.54	34.95
CFO/Total Liabilities	24.4	8.46	15.43	17.5	18.66	15.69	15.49	14.79	19.69	14.08	16.92	11.13	3.45	12.63	21.63
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	4.68	3.89	4.12	4.8	5.12	4.93	5.11	5.47	6.04	4.43	4.51	4.45	3.84	3.9	4.49

Working Capital (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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	5.88	4.71	5.73	5.88	6.23	5.69	6.02	6.53	6.75	5.61	7.02	7.81	6.66	6.64	7.09
Days Sales Outstanding	62.11	77.47	63.65	62.09	58.63	64.14	60.6	55.93	54.06	65.02	51.98	46.75	54.77	54.95	51.45
Inventory Turnover	5.77	3.54	4.42	4.91	5.36	4.47	4.31	4.46	4.72	4.09	4.11	3.8	3.1	2.99	3.28
Days Inventory Outstanding	63.27	103.15	82.65	74.32	68.1	81.71	84.72	81.78	77.31	89.26	88.74	96	117.9	122.16	111.27
Accounts Payable Turnover	34.87	19.67	19.32	23.76	22.29	19.18	20	21.48	23.05	21.92	19.18	12.94	10.88	13.15	13.96
Accounts Payable Turnover Days	10.47	18.56	18.89	15.36	16.38	19.03	18.25	16.99	15.84	16.65	19.03	28.21	33.53	27.76	26.15
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
Inventory to Cash Days	-1.16	-25.67	-19	-12.23	-9.47	-17.57	-24.12	-25.85	-23.25	-24.24	-36.76	-49.25	-63.13	-67.21	-59.81
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
Other Inventory	- -	- -	- -	- -	- -	4	8	4	7	8	3	1	2	3	4

Enterprise Value (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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	317	315	371	475	470	756	853	814	1,253	977	897	829	682	545	754
- Cash & Cash Equivalents	39	24	20	24	37	19	37	28	36	41	37	21	24	5	8
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	123	112	124	188	184	313	315	280	274	268	240	227	257	221	219
Enterprise Value	400	403	475	639	618	1,051	1,132	1,066	1,491	1,204	1,100	1,034	914	762	965
Total Capital	163	140	145	229	249	396	431	417	435	316	292	290	317	310	327
Total Debt/Capital (%)	75.47	80.14	85.7	82.09	73.89	79.14	73.11	67.14	62.96	84.83	82.15	78.05	81.06	71.41	67.06
Total Debt / EV	0.31	0.28	0.26	0.29	0.3	0.3	0.28	0.26	0.18	0.22	0.22	0.22	0.28	0.29	0.23
EV/Sales	1.92	2.88	2.44	2.11	1.54	2.53	2.38	2.03	2.61	2.51	2.03	1.68	1.61	1.34	1.47
EV/EBITDA	8.27	14.98	12.88	7.85	6.89	12.15	12.66	11.52	14.09	16.62	15.13	12.98	13.73	11.62	10.84
EV/EBIT	9.96	21.35	16.86	8.85	7.99	15.06	15.98	14.51	17.22	22.83	21	17.61	20.35	15.99	13.1
EV/Cash Flow to Firm	7.5	19.57	12.71	10.83	9.69	13.27	13.23	14.91	16.48	16.94	15.48	21.02	36.29	14.44	11.49
EV/Free Cash Flow to Firm	7.5	19.57	12.71	10.83	9.69	13.27	13.23	14.91	16.48	16.94	15.48	21.02	36.29	14.44	11.49
Diluted Market Cap	319	316	371	476	471	756	854	815	1,255	977	897	829	682	556	771
Diluted Enterprise Value	402	404	475	639	618	1,051	1,132	1,067	1,493	1,204	1,100	1,035	914	772	982
EV per Share	18.48	18.4	21.55	28.82	27.67	46.77	50.13	47	65.44	52.7	47.9	45.14	39.81	33.01	41.78
TTM Sales	209	140	194	304	400	416	475	524	572	480	541	616	568	569	656
TTM EBITDA	48	27	37	81	90	87	89	93	106	72	73	80	67	66	89
TTM Operating Income	40	19	28	72	77	70	71	73	87	53	52	59	45	48	74
TTM Cash Flow to Firm	53	21	37	59	64	79	86	72	90	71	71	49	25	53	84
TTM Free Cash Flow to Firm	53	21	37	59	64	79	86	72	90	71	71	49	25	53	84

Multiples (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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

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
EV/EBIT	9.96	21.35	16.86	8.85	7.99	15.06	15.98	14.51	17.22	22.83	21	17.61	20.35	15.99	13.1
Enterprise Value	400	403	475	639	618	1,051	1,132	1,066	1,491	1,204	1,100	1,034	914	762	965
Low Price	11.38	12.37	12.65	14.12	18.68	16.89	28.55	33.54	34.27	24.12	34.99	27.76	23.15	21.31	21.3
EV/Sales	1.92	2.88	2.44	2.11	1.54	2.53	2.38	2.03	2.61	2.51	2.03	1.68	1.61	1.34	1.47
EV/EBITDA	8.27	14.98	12.88	7.85	6.89	12.15	12.66	11.52	14.09	16.62	15.13	12.98	13.73	11.62	10.84
Price/Earnings	16.83	52.41	31.84	11.89	10.65	19.39	15.43	18.54	25.48	- -	29.21	21.46	28.73	9.71	16.07
Price/Earnings Average	16.9	50.16	27.32	10.25	10.93	15.05	14.02	22.28	19.45	-10.34	31.54	19.75	30.36	10.35	14.11
Price/Earnings High	19.52	57.18	33.03	13.81	12.37	20.03	17.38	25.57	26.2	-15.02	38.47	24.23	40.07	12.73	16.94
Price/Earnings Low	13.1	45.05	23.94	7.83	9.44	9.73	11.65	17.33	15.88	-6.37	26.17	16.48	22.41	8.76	10.49
Price/Book Value	7.92	11.36	17.91	11.57	7.23	9.16	7.36	5.94	7.78	20.38	17.21	13.01	11.36	6.15	7
Price/Book Value Average	7.95	10.87	15.37	9.98	7.42	7.11	6.69	7.14	5.94	18.67	18.58	11.97	12.01	6.56	6.15
Price/Book Value High	9.19	12.39	18.58	13.45	8.4	9.46	8.29	8.2	8	27.11	22.66	14.69	15.85	8.06	7.38
Price/Book Value Low	6.17	9.76	13.47	7.63	6.41	4.6	5.56	5.55	4.85	11.49	15.41	9.99	8.86	5.55	4.57
Price/Tangible Book Value	-4.83	-4.5	-4.56	-3.87	-5.34	-3.56	-5.01	-6.12	-13.68	-14.87	-22.07	-108.73	-258.25	14.53	15.58
Price/Tangible Book Value Average	-4.85	-4.31	-3.92	-3.34	-5.48	-2.76	-4.55	-7.36	-10.45	-13.62	-23.82	-100.04	-272.94	15.49	13.67
Price/Tangible Book Value High	-5.6	-4.91	-4.73	-4.5	-6.21	-3.67	-5.64	-8.45	-14.07	-19.78	-29.06	-122.74	-360.23	19.05	16.41
Price/Tangible Book Value Low	-3.76	-3.87	-3.43	-2.55	-4.74	-1.79	-3.78	-5.72	-8.53	-8.38	-19.77	-83.47	-201.43	13.1	10.16
Price/Sales	1.52	2.25	1.91	1.57	1.17	1.82	1.8	1.55	2.19	2.04	1.66	1.35	1.2	0.96	1.15
Price/Sales Average	1.52	2.15	1.64	1.35	1.21	1.41	1.63	1.87	1.67	1.86	1.79	1.24	1.27	1.02	1.01
Price/Sales High	1.76	2.45	1.98	1.82	1.37	1.88	2.03	2.14	2.25	2.71	2.18	1.52	1.67	1.26	1.21
Price/Sales Low	1.18	1.93	1.43	1.03	1.04	0.91	1.36	1.45	1.37	1.15	1.48	1.03	0.94	0.86	0.75
Price/Cash Flow	6.63	20.17	11.49	8.84	8.33	10.82	12.86	13.99	16.21	18.31	14.81	20.7	54.66	13.26	10.09
Price/Cash Flow Average	6.66	19.31	9.86	7.62	8.55	8.4	11.69	16.82	12.37	16.77	15.99	19.05	57.77	14.13	8.86
Price/Cash Flow High	7.69	22.01	11.92	10.27	9.68	11.17	14.49	19.3	16.67	24.36	19.51	23.37	76.24	17.38	10.64
Price/Cash Flow Low	5.16	17.34	8.64	5.82	7.39	5.43	9.71	13.08	10.1	10.33	13.27	15.89	42.63	11.95	6.58
Price/Free Cash Flow Average	6.71	19.37	9.88	7.63	8.56	8.4	11.69	16.83	12.39	16.77	16	19.05	57.77	14.4	9.06
Price/Free Cash Flow High	7.75	22.08	11.94	10.28	9.69	11.17	14.5	19.32	16.69	24.36	19.51	23.37	76.24	17.71	10.88
Price/Free Cash Flow Low	5.2	17.4	8.66	5.83	7.39	5.43	9.72	13.09	10.11	10.33	13.27	15.89	42.63	12.18	6.74
EV/Sales Average	1.92	2.78	2.17	1.89	1.57	2.12	2.22	2.35	2.09	2.34	2.16	1.57	1.68	1.4	1.33
EV/Sales High	2.16	3.08	2.51	2.36	1.73	2.59	2.61	2.62	2.67	3.18	2.56	1.85	2.08	1.64	1.53
EV/Sales Low	1.58	2.56	1.97	1.57	1.41	1.62	1.94	1.93	1.78	1.62	1.86	1.37	1.34	1.25	1.07
EV/EBITDA Average	8.3	14.48	11.46	7.04	7.03	10.19	11.79	13.3	11.29	15.48	16.11	12.15	14.31	12.17	9.8
EV/EBITDA High	9.32	16.05	13.26	8.79	7.74	12.43	13.87	14.86	14.43	21.07	19.04	14.32	17.77	14.21	11.3
EV/EBITDA Low	6.82	13.34	10.39	5.86	6.3	7.79	10.33	10.94	9.63	10.74	13.85	10.57	11.48	10.81	7.9
EV/EBIT Average	9.99	20.64	15	7.94	8.15	12.64	14.89	16.75	13.8	21.28	22.37	16.48	21.22	16.75	11.85
EV/EBIT High	11.22	22.87	17.35	9.91	8.97	15.41	17.52	18.72	17.63	28.95	26.43	19.42	26.35	19.55	13.66
EV/EBIT Low	8.21	19.01	13.6	6.6	7.3	9.66	13.04	13.79	11.77	14.75	19.22	14.33	17.02	14.86	9.54
Last Price	14.62	14.39	16.82	21.43	21.07	33.65	37.8	35.89	55	42.77	39.06	36.16	29.68	23.63	32.65
High Price	16.96	15.7	17.45	24.9	24.48	34.75	42.6	49.5	56.55	56.89	51.44	40.82	41.4	30.98	34.41
Enterprise Value Average	401	389	422	574	630	882	1,054	1,230	1,194	1,122	1,171	968	953	798	872
Enterprise Value High	451	432	489	716	694	1,076	1,240	1,375	1,526	1,527	1,384	1,141	1,183	931	1,005
Enterprise Value Low	330	359	383	477	564	675	923	1,013	1,019	778	1,006	842	764	708	703

Shares Outstanding	22	22	22	22	22	23	23	23	23	23	23	23	23	23	23
Diluted Weighted Avg Shares	22	22	22	22	22	22	23	23	23	23	23	23	23	24	24
Basic Weighted Avg Shares	22	22	22	22	22	22	23	23	23	23	23	23	23	23	23
Revenue per Share	9.64	6.4	8.82	13.69	17.93	18.52	21.04	23.11	25.1	21.02	23.59	26.88	24.74	24.64	28.42
EBITDA per Share	2.23	1.23	1.67	3.67	4.01	3.85	3.96	4.08	4.64	3.17	3.17	3.48	2.9	2.84	3.85
Operating Income per Share	1.86	0.86	1.28	3.26	3.46	3.11	3.14	3.24	3.8	2.31	2.28	2.56	1.96	2.06	3.19
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 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
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
Cash Flow per 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
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
Cash & Equivalents per Share	1.82	1.1	0.9	1.09	1.65	0.83	1.63	1.23	1.57	1.8	1.61	0.9	1.05	0.22	0.36
Book Value per Share	1.85	1.27	0.94	1.85	2.91	3.67	5.14	6.04	7.07	2.1	2.27	2.78	2.61	3.84	4.66
Tangible Book Value per Share	-3.03	-3.2	-3.69	-5.53	-3.94	-9.46	-7.55	-5.86	-4.02	-2.88	-1.77	-0.33	-0.11	1.63	2.1

Douglas Dynamics, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)