InsiderClue
Stocks · Industrials · Construction Machinery & Equip

DOUGLAS DYNAMICS, INC

PLOW Clue Score53
United States Fiscal year ends December CIK 0001287213
$39.19 -0.51% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $39.19 +4.34% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue416.3Operating income69.8EPS, diluted1.70Fiscal year 2017Revenue474.9 +14.1%Operating income70.8EPS, diluted2.40Fiscal year 2018Revenue524.1 +10.3%Operating income73.5EPS, diluted1.89Fiscal year 2019Revenue571.7 +9.1%Operating income86.6EPS, diluted2.11Fiscal year 2020Revenue480.2 −16.0%Operating income−75.1Net income−86.6EPS, diluted−3.81Fiscal year 2021Revenue541.5 +12.8%Operating income51.1Net income30.7EPS, diluted1.29Fiscal year 2022Revenue616.1 +13.8%Operating income58.8Net income38.6 +25.8%EPS, diluted1.63Fiscal year 2023Revenue568.2 −7.8%Operating income44.9Net income23.7 −38.6%EPS, diluted0.98Fiscal year 2024Revenue568.5 +0.1%Operating income88.7Net income56.2 +136.7%EPS, diluted2.36Fiscal year 2025Revenue656.1 +15.4%Operating income73.6Net income46.9 −16.5%EPS, diluted1.96
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 416.3 474.9 524.1 571.7 480.2 541.5 616.1 568.2 568.5 656.1
Growth +14.1% +10.3% +9.1% −16.0% +12.8% +13.8% −7.8% +0.1% +15.4%
Operating income 69.8 70.8 73.5 86.6 −75.1 51.1 58.8 44.9 88.7 73.6
Net income n/a n/a n/a n/a −86.6 30.7 38.6 23.7 56.2 46.9
Growth +25.8% −38.6% +136.7% −16.5%
EPS, diluted 1.70 2.40 1.89 2.11 −3.81 1.29 1.63 0.98 2.36 1.96

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin32.2%Operating margin16.8%Free cash flow margin14.4%Fiscal year 2017Gross margin30.1%Operating margin14.9%Free cash flow margin12.4%Fiscal year 2018Gross margin29.6%Operating margin14.0%Free cash flow margin9.3%Fiscal year 2019Gross margin29.5%Operating margin15.1%Free cash flow margin11.5%Fiscal year 2020Gross margin26.7%Operating margin−15.6%Net margin−18.0%Free cash flow margin8.1%Fiscal year 2021Gross margin26.2%Operating margin9.4%Net margin5.7%Free cash flow margin9.0%Fiscal year 2022Gross margin24.6%Operating margin9.5%Net margin6.3%Free cash flow margin4.5%Fiscal year 2023Gross margin23.6%Operating margin7.9%Net margin4.2%Free cash flow margin0.5%Fiscal year 2024Gross margin25.8%Operating margin15.6%Net margin9.9%Free cash flow margin5.9%Fiscal year 2025Gross margin26.6%Operating margin11.2%Net margin7.1%Free cash flow margin9.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 32.2% 30.1% 29.6% 29.5% 26.7% 26.2% 24.6% 23.6% 25.8% 26.6%
Operating margin 16.8% 14.9% 14.0% 15.1% −15.6% 9.4% 9.5% 7.9% 15.6% 11.2%
Net margin n/a n/a n/a n/a −18.0% 5.7% 6.3% 4.2% 9.9% 7.1%
Free cash flow margin 14.4% 12.4% 9.3% 11.5% 8.1% 9.0% 4.5% 0.5% 5.9% 9.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow69.9Capital expenditure−9.8Free cash flow60.1Dividends paid−21.5Fiscal year 2017Operating cash flow66.4Capital expenditure−7.6Free cash flow58.8 −2.2%Dividends paid−22.0Fiscal year 2018Operating cash flow58.2Capital expenditure−9.7Free cash flow48.5 −17.5%Dividends paid−24.4Fiscal year 2019Operating cash flow77.3Capital expenditure−11.5Free cash flow65.8 +35.6%Dividends paid−25.2Fiscal year 2020Operating cash flow53.4Capital expenditure−14.7Free cash flow38.7 −41.2%Buybacks0.0Dividends paid−25.9Fiscal year 2021Operating cash flow60.5Capital expenditure−11.9Free cash flow48.7 +25.8%Buybacks0.0Dividends paid−26.5Fiscal year 2022Operating cash flow40.0Capital expenditure−12.4Free cash flow27.6 −43.2%Buybacks−6.0Dividends paid−27.0Fiscal year 2023Operating cash flow12.5Capital expenditure−9.8Free cash flow2.7 −90.2%Buybacks0.0Dividends paid−27.4Fiscal year 2024Operating cash flow41.1Capital expenditure−7.8Free cash flow33.4 +1,134.4%Buybacks0.0Dividends paid−27.5Fiscal year 2025Operating cash flow74.7Capital expenditure−10.8Free cash flow63.9 +91.4%Buybacks−6.0Dividends paid−27.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 69.9 66.4 58.2 77.3 53.4 60.5 40.0 12.5 41.1 74.7
Capital expenditure −9.8 −7.6 −9.7 −11.5 −14.7 −11.9 −12.4 −9.8 −7.8 −10.8
Free cash flow 60.1 58.8 48.5 65.8 38.7 48.7 27.6 2.7 33.4 63.9
Growth −2.2% −17.5% +35.6% −41.2% +25.8% −43.2% −90.2% +1,134.4% +91.4%
Buybacks n/a n/a n/a n/a 0.0 0.0 −6.0 0.0 0.0 −6.0
Dividends paid −21.5 −22.0 −24.4 −25.2 −25.9 −26.5 −27.0 −27.4 −27.5 −27.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash18.6Total debt309.6Net cash (debt)−290.9Shareholders’ equity220.5Debt to equity1.40Fiscal year 2017Cash36.9Total debt307.6Net cash (debt)−270.7Shareholders’ equity256.7Debt to equity1.20Fiscal year 2018Cash27.8Total debt275.7Net cash (debt)−247.9Shareholders’ equity282.8Debt to equity0.98Fiscal year 2019Cash35.7Total debt244.2Net cash (debt)−208.6Shareholders’ equity313.2Debt to equity0.78Fiscal year 2020Cash41.0Total debt238.3Net cash (debt)−197.3Shareholders’ equity200.2Debt to equity1.19Fiscal year 2021Cash37.0Total debt11.1Net cash (debt)25.8Shareholders’ equity214.6Debt to equity0.05Fiscal year 2022Cash20.7Total debt218.9Net cash (debt)−198.2Shareholders’ equity237.1Debt to equity0.92Fiscal year 2023Cash24.2Total debt196.2Net cash (debt)−172.0Shareholders’ equity231.6Debt to equity0.85Fiscal year 2024Cash5.1Total debt147.5Net cash (debt)−142.4Shareholders’ equity264.2Debt to equity0.56Fiscal year 2025Cash8.3Total debt151.4Net cash (debt)−143.1Shareholders’ equity281.4Debt to equity0.54
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 18.6 36.9 27.8 35.7 41.0 37.0 20.7 24.2 5.1 8.3
Total debt 309.6 307.6 275.7 244.2 238.3 11.1 218.9 196.2 147.5 151.4
Net cash (debt) −290.9 −270.7 −247.9 −208.6 −197.3 25.8 −198.2 −172.0 −142.4 −143.1
Shareholders’ equity 220.5 256.7 282.8 313.2 200.2 214.6 237.1 231.6 264.2 281.4
Debt to equity 1.40 1.20 0.98 0.78 1.19 0.05 0.92 0.85 0.56 0.54

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020† 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
416.3 474.9 524.1 571.7 480.2 541.5 616.1 568.2 568.5 656.1
Growth +14.1% +10.3% +9.1% −16.0% +12.8% +13.8% −7.8% +0.1% +15.4%
282.3 331.8 369.2 402.9 351.9 399.6 464.6 433.9 421.7 481.4
134.0 143.1 154.9 168.8 128.3 141.9 151.5 134.3 146.8 174.7
Growth +6.8% +8.2% +9.0% −24.0% +10.6% +6.8% −11.3% +9.4% +19.0%
3.1 2.9 3.2 5.7 6.7 10.2 12.2 10.1 8.4 7.7
53.6 60.9 70.0 71.3 64.6 78.8 82.2 78.8 91.7 94.9
69.8 70.8 73.5 86.6 −75.1 51.1 58.8 44.9 88.7 73.6
Growth +1.4% +3.7% +17.9% −186.8% +14.9% −23.6% +97.5% −17.0%
63.7 52.9 55.8 62.6 −98.8 34.6 47.4 29.2 73.9 61.5
24.7 −2.4 11.9 13.5 −12.3 3.9 8.8 5.5 17.7 14.6
n/a n/a n/a n/a −86.6 30.7 38.6 23.7 56.2 46.9
Growth +25.8% −38.6% +136.7% −16.5%
Per share
1.71 2.42 1.91 2.13 −3.81 1.31 1.65 1.01 2.39 1.99
1.70 2.40 1.89 2.11 −3.81 1.29 1.63 0.98 2.36 1.96
Growth +41.2% −21.3% +11.6% −280.6% +26.4% −39.9% +140.8% −16.9%
22,481 22,576 22,682 22,779 22.8 23.0 22.9 23.0 23.1 23.1
22,481 22,588 22,705 22,814 22.8 23.0 22.9 23.0 23.5 23.6
Growth +0.5% +0.5% +0.5% −99.9% +0.5% −0.2% +0.2% +2.4% +0.5%

† The diluted share count jumps at 2020, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 6.4% a year over five years.
  • Operating margin is up 26.9 points on five years ago, at 11.2%.
  • A net loss in 1 of 6 years on file.