Dorman Products DORM

Nasdaq · Motor Vehicle Parts & Accessories · $4.2B

$139.48−2.06%Nov 5 close · Databento

Every report since 2023 →

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DORM Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $139.481D −2.06%3M +4.66%SMA20 $128.11SMA50 $126.32RSI(14) 65.4

139.48

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 65.4

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$4.2B

EV / True FCF83.1x

Revenue$2.1B +6.0%

True FCF (ex-SBC)$56.0M −60.5%

Rule of 409.6%

ROIC11.6%

True FCF Yield1.3%

EPS, diluted$6.64 +8.1%

Modern Valuation (EOD)

Market Cap$4.2B

Enterprise Value$4.7B

EV / True FCF83.08

EV / FCF61.52

EV / Gross Profit5.19

EV / EBIT15.54

EV / Sales2.19

P / E (GAAP)20.70

P / FCF55.85

P / Oper. CF37.19

P / Book2.86

Owner & Cash Yields

True FCF Yield1.3%

FCF Yield1.8%

Owner Earn. Yield4.3%

Earnings Yield4.8%

Shareholder Yield+0.8%

Buyback Yield—

Dividend Yield1.08%

Dividend / sh$1.50

Payout Ratio27%

FCF / sh$2.57

EPS (diluted)$6.64

Compounder & Returns

Rule of 409.6%

ROIC11.6%

Cash ROIC (CROIC)4.0%

GP / Assets36.0%

ROE13.8%

ROA8.2%

Gross Margin42.1%

Oper. Margin14.1%

Net Margin9.6%

FCF Margin3.6%

True FCF Margin2.6%

Quality & Dilution

Cash Conversion37%

Accrual Ratio+3.6%

SBC % of FCF25.9%

SBC % of Rev0.9%

Reinvest. Rate48%

Sales Growth Y/Y+6.0%

Sales 3Y CAGR+7.1%

EPS Growth Y/Y+8.1%

FCF Growth Y/Y−60.5%

FCF 3Y CAGR+170.9%

Share Change Y/Y−0.6%

Balance Sheet & Scale

Revenue (FY)$2.1B

Gross Profit (FY)$897.7M

Oper. Income (FY)$299.5M

GAAP Net Income$204.2M

True FCF (ex-SBC)$56.0M

Cash & Equiv$49.4M

Total Debt$478.1M

Net Cash (Debt)$-428.7M

Net Cash % MCap−10.1%

Debt / FCF (yrs)6.3y

Current Ratio3.0929.49M sh

Price & Technicals (EOD)

Perf Week+4.35%

Perf Month+13.52%

Perf Quarter−1.01%

Perf Half Y+12.01%

Perf YTD+25.00%

SMA 20 Dist+8.88%$128.11

SMA 50 Dist+10.42%$126.32

SMA 100 Dist+6.79%$130.61

Window High−5.63%$147.80

Window Low+27.55%$109.35

RSI (14) · Vol65.434%v

Income Distribution & Cash Flow ConversionHow every dollar of DORM revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$1.2B ($57.9 / $100)

R&D Reinvestment$16.8M ($0.8 / $100)

SG&A & Other OpEx$581.4M ($27.3 / $100)

Tax & Non-Operating$95.4M ($4.5 / $100)

Net Profit Kept$204.2M ($9.6 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$204.2M (9.6% margin)

Operating Cash Flow (OCF)$113.6M(5.3% of rev)

Less: Capital Expenditures−$38.0M(1.8% of rev)

Standard Free Cash Flow (FCF)$75.7M(3.6% margin)

Less: Stock-Based Comp (SBC)−$19.6M(25.9% of FCF)

True FCF (Owner Cash ex-SBC)$56.0M(2.6% of rev)

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2021	FY2022	FY2023	FY2024	FY2025	YoY Δ	4Y CAGR
Income Statement
Revenue	$1.3B	$1.7B	$1.9B	$2.0B	$2.1B	+6.0%	+12.2%
Cost of Revenue (COGS)	$882.3M	$1.2B	$1.2B	$1.2B	$1.2B	+2.5%	+8.7%
Gross Profit	$462.9M	$564.5M	$685.4M	$806.4M	$897.7M	+11.3%	+18.0%
Research & Development (R&D)	—	—	—	—	$16.8M	—	—
Selling, General & Admin (SG&A)	$291.4M	$393.4M	$470.7M	$513.5M	$541.5M	+5.5%	+16.8%
Total Operating Expenses	$291.4M	$393.4M	$470.7M	$513.5M	$598.2M	+16.5%	+19.7%
Operating Income (EBIT)	$171.6M	$171.0M	$214.8M	$292.9M	$299.5M	+2.3%	+15.0%
Interest Expense	$2.2M	$15.6M	$48.1M	$39.7M	$28.6M	−28.1%	+90.7%
Income Tax Expense	$38.2M	$34.7M	$39.2M	$66.2M	$71.3M	+7.6%	+16.8%
GAAP Net Income	$131.5M	$121.5M	$129.3M	$190.0M	$204.2M	+7.5%	+11.6%
Diluted EPS	$4.12	$3.85	$4.10	$6.14	$6.64	+8.1%	+12.7%
Diluted Shares	32.0M	31.5M	31.5M	31.0M	30.8M	−0.6%	−1.0%
Balance Sheet
Cash & Equivalents	$58.8M	$46.0M	$36.8M	$57.1M	$49.4M	−13.5%	−4.2%
Inventory	$532.0M	$755.9M	$637.4M	$708.0M	$959.0M	+35.5%	+15.9%
Total Current Assets	$1.1B	$1.3B	$1.2B	$1.4B	$1.5B	+11.1%	+9.0%
Total Assets	$1.7B	$2.3B	$2.3B	$2.4B	$2.5B	+2.8%	+10.5%
Total Current Liabilities	$665.0M	$678.3M	$547.2M	$563.8M	$492.8M	−12.6%	−7.2%
Total Debt (Short + Long Term)	$0	$495.0M	$482.9M	$496.9M	$478.1M	−3.8%	—
Stockholders' Equity	$932.7M	$1.0B	$1.2B	$1.3B	$1.5B	+14.2%	+12.2%
Net Cash / (Net Debt)	$58.8M	$-448.9M	$-446.1M	$-439.7M	$-428.7M	+2.5%	—
Invested Capital	$874.0M	$1.5B	$1.6B	$1.7B	$1.9B	+10.0%	+21.5%
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$100.3M	$41.7M	$208.8M	$231.0M	$113.6M	−50.8%	+3.2%
Depreciation & Amortization (D&A)	$26.3M	$28.6M	$31.9M	$34.0M	$33.6M	−1.2%	+6.3%
Stock-Based Compensation (SBC)	$8.2M	$9.4M	$11.5M	$15.0M	$19.6M	+30.8%	+24.3%
Capital Expenditures (CapEx)	$19.8M	$37.9M	$44.0M	$39.4M	$38.0M	−3.7%	+17.6%
Free Cash Flow (FCF)	$80.5M	$3.8M	$164.8M	$191.6M	$75.7M	−60.5%	−1.5%
True FCF (ex-SBC Owner Cash)	$72.3M	$-5.6M	$153.3M	$176.6M	$56.0M	−68.3%	−6.2%
Dividends Paid	—	—	—	—	$54.7M	—	—

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what DORM did at the next close after each story

No Wire story has named DORM yet.

What happened · big days

22 big days in a year, and what we hold on each

A big day is a close more than 3.45% from the one before, three times DORM’s median day (1.15%). On 6 of the 22, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±3.45%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayDORMWhat we hold that dayGroup (median of 4) · each

1 Nov 7, 2025+3.84%
Before our storiesgroup +0.5%, did not move with it
1Nov 7, 2025+3.84%
Before our stories
+0.5% did not move with itALV +1.5 · ALSN +0.6 · MGA +0.4 · BWA −0.2
2 Nov 12, 2025+3.69%
Before our storiesgroup +0.8%, did not move with it
2Nov 12, 2025+3.69%
Before our stories
+0.8% did not move with itMGA +1.1 · ALV +1.1 · BWA +0.5 · ALSN +0.1
3 Nov 21, 2025+4.17%
Before our storiesgroup +4.3%, moved with DORM
3Nov 21, 2025+4.17%
Before our stories
+4.3% moved with DORMMGA +5.7 · BWA +4.9 · ALSN +3.8 · ALV +3.5
4 Feb 25, 2026−9.41%
Before our storiesgroup +0.0%, did not move with it
4Feb 25, 2026−9.41%
Before our stories
+0.0% did not move with itALV −2.2 · MGA −0.6 · ALSN +0.6 · BWA +1.0
5 Mar 5, 2026−3.48%
Before our storiesgroup −1.6%, did not move with it
5Mar 5, 2026−3.48%
Before our stories
−1.6% did not move with itALSN −3.8 · MGA −1.7 · ALV −1.5 · BWA −0.1
6 Apr 2, 2026−4.11%
Before our storiesgroup −2.0%, did not move with it
6Apr 2, 2026−4.11%
Before our stories
−2.0% did not move with itBWA −3.2 · MGA −2.4 · ALV −1.7 · ALSN −1.5
7 Apr 8, 2026+4.90%
Before our storiesgroup +6.0%, moved with DORM
7Apr 8, 2026+4.90%
Before our stories
+6.0% moved with DORMALSN +6.6 · ALV +6.1 · MGA +5.9 · BWA +4.9
8 Apr 9, 2026+3.50%
Before our storiesgroup +0.4%, did not move with it
8Apr 9, 2026+3.50%
Before our stories
+0.4% did not move with itALSN +2.0 · MGA +0.8 · BWA +0.0 · ALV −0.5
9 Apr 17, 2026+4.19%
Before our storiesgroup +5.6%, moved with DORM
9Apr 17, 2026+4.19%
Before our stories
+5.6% moved with DORMALV +6.8 · MGA +6.7 · BWA +4.4 · ALSN +2.2
10 May 5, 2026+7.82%
Resultsgroup +1.3%, did not move with it
10May 5, 2026+7.82%
ResultsFirst close after the May 4 results filing
+1.3% did not move with itALV +2.4 · BWA +1.8 · MGA +0.9 · ALSN −1.3
11 May 14, 2026+3.58%
Before our storiesgroup +0.4%, did not move with it
11May 14, 2026+3.58%
Before our stories
+0.4% did not move with itMGA +1.5 · BWA +0.8 · ALSN −0.1 · ALV −0.6
12 May 15, 2026−3.59%
Before our storiesgroup −4.7%, moved with DORM
12May 15, 2026−3.59%
Before our stories
−4.7% moved with DORMBWA −6.2 · ALV −4.8 · MGA −4.6 · ALSN −4.4
13 May 20, 2026+3.71%
Before our storiesgroup +2.3%, moved with DORM
13May 20, 2026+3.71%
Before our stories
+2.3% moved with DORMBWA +3.0 · MGA +2.6 · ALV +2.0 · ALSN +0.3
14 Jul 16, 2026+4.78%
Nothing on DORMgroup +1.4%, did not move with it
14Jul 16, 2026+4.78%
Nothing on DORMNo DORM story, brief or results filing in our record that day
+1.4% did not move with itMGA +1.9 · ALV +1.8 · ALSN +1.1 · BWA −1.9
15 Jul 28, 2026+4.93%
Nothing on DORMgroup +1.1%, did not move with it
15Jul 28, 2026+4.93%
Nothing on DORMNo DORM story, brief or results filing in our record that day
+1.1% did not move with itALV +3.8 · MGA +2.8 · ALSN −0.7 · BWA −0.7
16 Jul 30, 2026−5.74%
Nothing on DORMgroup +0.9%, did not move with it
16Jul 30, 2026−5.74%
Nothing on DORMNo DORM story, brief or results filing in our record that day
+0.9% did not move with itALV −0.5 · ALSN +0.7 · MGA +1.1 · BWA +3.5
17 Aug 3, 2026−4.12%
Nothing on DORMgroup −0.1%, did not move with it
17Aug 3, 2026−4.12%
Nothing on DORMNo DORM story, brief or results filing in our record that day
−0.1% did not move with itMGA −1.1 · BWA −0.7 · ALV +0.5 · ALSN +1.6
18 Aug 4, 2026+15.76%
Resultsgroup +1.9%, did not move with it
18Aug 4, 2026+15.76%
ResultsFirst close after the Aug 3 results filing
+1.9% did not move with itALSN +5.4 · MGA +3.2 · ALV +0.7 · BWA −0.4
19 Aug 5, 2026−4.24%
Nothing on DORMgroup +0.7%, did not move with it
19Aug 5, 2026−4.24%
Nothing on DORMNo DORM story, brief or results filing in our record that day
+0.7% did not move with itALSN −3.7 · ALV −1.2 · MGA +2.5 · BWA +5.9
20 Aug 10, 2026−5.42%
Nothing on DORMgroup +0.3%, did not move with it
20Aug 10, 2026−5.42%
Nothing on DORMNo DORM story, brief or results filing in our record that day
+0.3% did not move with itALV −0.9 · MGA −0.7 · BWA +1.3 · ALSN +4.7
21 Oct 28, 2026+4.37%
Nothing on DORMgroup +0.1%, did not move with it
21Oct 28, 2026+4.37%
Nothing on DORMNo DORM story, brief or results filing in our record that day
+0.1% did not move with itALSN +1.5 · BWA +0.4 · MGA −0.2 · ALV −0.4
22 Nov 4, 2026+4.66%
Nothing on DORMgroup +2.8%, moved with DORM
22Nov 4, 2026+4.66%
Nothing on DORMNo DORM story, brief or results filing in our record that day
+2.8% moved with DORMALV +5.3 · MGA +4.2 · ALSN +1.4 · BWA −2.5

A story on the same day is not a cause, and a group move is not proof either. Group: the median of MGA, BWA, ALSN and ALV that day, the largest companies in DORM’s SEC industry; “moved with DORM” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). DORM reports after the close, so day 1 is the next close. 2 of 4 times, day 6 ended on the same side as day 1.

Reported Feb 25, 2026

day 1+1.79%day 6−2.08%

Reported May 4, 2026

day 1+7.82%day 6+7.82%

Reported Aug 3, 2026

day 1+15.76%day 6+4.21%

Reported Oct 26, 2026

day 1−0.34%day 6+9.08%

Next report: expected late JanuaryEstimated from the dates of its last four results filings. Not announced. Since the Oct 26 report: +14.17%. Four reports is a small sample.

Every report since 2023 →

Each line is DORM’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

DORM against four same-industry peers, a year at 100

DORM is up 6.0% in a year. Allison Transmission is up 47.1%, Magna International 31.6% and Borgwarner 12.2%. Of these four, only Autoliv (+3.2%) did less. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

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DORM +6.0%. Allison Transmission +47.1%, Magna International +31.6%, Borgwarner +12.2%, Autoliv +3.2%. Weekly closes, Nov 7, 2025 = 100, log scale.

Share this chart

End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in DORM’s SEC industry (Motor Vehicle Parts & Accessories) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

MGA	Magna International	$18.4B	−4.30%
BWA	Borgwarner	$10.3B	−5.69%
ALSN	Allison Transmission	$10.0B	−3.38%
ALV	Autoliv	$9.2B	−1.31%
APTV	Aptiv	$9.0B	−5.57%
LEA	Lear	$5.9B	−3.88%
MOD	Modine Manufacturing	$5.2B	−7.27%
GNTX	Gentex	$4.4B	−2.93%