Douglas Dynamics PLOW

NYSE · Construction Machinery & Equip · $880M
$36.83−3.38%Nov 5 close · Databento
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PLOW 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 $36.831D −3.38%3M −13.67%SMA20 $39.34SMA50 $39.96RSI(14) 34.7
36.83
RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 34.7

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$880M
EV / True FCF17.9x
Revenue$656.1M +15.4%
True FCF (ex-SBC)$57.1M +91.4%
Rule of 4025.1%
ROIC13.2%
True FCF Yield6.5%
EPS, diluted$1.96 −16.9%
Modern Valuation (EOD)
Market Cap$880M
Enterprise Value$1.0B
EV / True FCF17.90
EV / FCF16.02
EV / Gross Profit5.86
EV / EBIT13.90
EV / Sales1.56
P / E (GAAP)18.76
P / FCF13.77
P / Oper. CF11.78
P / Book3.13
Owner & Cash Yields
True FCF Yield6.5%
FCF Yield7.3%
Owner Earn. Yield5.1%
Earnings Yield5.3%
Shareholder Yield+3.1%
Buyback Yield0.7%
Dividend Yield3.20%
Dividend / sh$1.18
Payout Ratio60%
FCF / sh$2.77
EPS (diluted)$1.96
Compounder & Returns
Rule of 4025.1%
ROIC13.2%
Cash ROIC (CROIC)15.0%
GP / Assets27.9%
ROE16.7%
ROA7.5%
Gross Margin26.6%
Oper. Margin11.2%
Net Margin7.1%
FCF Margin9.7%
True FCF Margin8.7%
Quality & Dilution
Cash Conversion136%
Accrual Ratio−4.4%
SBC % of FCF10.5%
SBC % of Rev1.0%
Reinvest. Rate25%
Sales Growth Y/Y+15.4%
Sales 3Y CAGR+2.1%
EPS Growth Y/Y−16.9%
FCF Growth Y/Y+91.4%
FCF 3Y CAGR+32.2%
Share Change Y/Y+0.5%
Balance Sheet & Scale
Revenue (FY)$656.1M
Gross Profit (FY)$174.7M
Oper. Income (FY)$73.6M
GAAP Net Income$46.9M
True FCF (ex-SBC)$57.1M
Cash & Equiv$8.3M
Total Debt$151.4M
Net Cash (Debt)$-143.1M
Net Cash % MCap−16.3%
Debt / FCF (yrs)2.4y
Current Ratio2.7823.08M sh
Price & Technicals (EOD)
Perf Week−7.53%
Perf Month−7.32%
Perf Quarter−16.97%
Perf Half Y−18.57%
Perf YTD−20.14%
SMA 20 Dist−6.38%$39.34
SMA 50 Dist−7.82%$39.96
SMA 100 Dist−13.71%$42.68
Window High−32.05%$54.20
Window Low+0.46%$36.66
RSI (14) · Vol34.738%v
Income Distribution & Cash Flow ConversionHow every dollar of PLOW revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow
REVENUE · 100%$656.1MGROSS PROFIT · 26.6%$174.7MCOST OF REV · 73.4%$481.4MOPER. INCOME · 11.2%$73.6MOPEX · 15.4%R&D $7.7M · SG&A $94.9MNET INCOME · 7.1%$46.9MTAX & OTHER · 4.1%$26.7M
Where Every $100 of Revenue Goes (FY2025)
Cost of Revenue (COGS)$481.4M ($73.4 / $100)
R&D Reinvestment$7.7M ($1.2 / $100)
SG&A & Other OpEx$94.9M ($14.5 / $100)
Tax & Non-Operating$26.7M ($4.1 / $100)
Net Profit Kept$46.9M ($6.9 / $100)
Earnings Quality: GAAP Profit → True Owner Cash (FY2025)
GAAP Net Income$46.9M (7.1% margin)
Operating Cash Flow (OCF)$74.7M(11.4% of rev)
Less: Capital Expenditures−$10.8M(1.7% of rev)
Standard Free Cash Flow (FCF)$63.9M(9.7% margin)
Less: Stock-Based Comp (SBC)−$6.7M(10.5% of FCF)
True FCF (Owner Cash ex-SBC)$57.1M(8.7% of rev)

Operating leverage — margins

GrossOperatingNet
0%40%80%27%11%7%FY21FY22FY23FY24FY25
Unlocked SEC EDGAR Accounting Statements (USD)All 3 statements · Common-size (% of Revenue / Assets) · YoY growth · Tap any core row to explain
Line Item (USD)FY2021FY2022FY2023FY2024FY2025YoY Δ4Y CAGRTrend
Income Statement
Cost of Revenue (COGS)$399.6M$464.6M$433.9M$421.7M$481.4M+14.2%+4.8%
Research & Development (R&D)$10.2M$12.2M$10.1M$8.4M$7.7M−8.3%−6.7%
Selling, General & Admin (SG&A)$78.8M$82.2M$78.8M$91.7M$94.9M+3.5%+4.7%
Total Operating Expenses$90.7M$92.7M$89.4M$58.1M$101.1M+73.9%+2.7%
Income Tax Expense$3.9M$8.8M$5.5M$17.7M$14.6M−17.6%+39.1%
Diluted Shares23.0M22.9M23.0M23.5M23.6M+0.5%+0.7%
Balance Sheet
Cash & Equivalents$37.0M$20.7M$24.2M$5.1M$8.3M+62.1%−31.2%
Inventory$104.0M$136.5M$140.4M$137.0M$149.7M+9.2%+9.5%
Total Current Assets$220.4M$252.9M$262.2M$238.2M$266.0M+11.7%+4.8%
Total Assets$572.5M$596.9M$593.4M$590.0M$626.7M+6.2%+2.3%
Total Current Liabilities$81.9M$100.4M$118.5M$70.2M$95.8M+36.5%+4.0%
Total Debt (Short + Long Term)$219.9M$218.9M$196.2M$147.5M$151.4M+2.6%−8.9%
Stockholders' Equity$214.6M$237.1M$231.6M$264.2M$281.4M+6.5%+7.0%
Net Cash / (Net Debt)$-182.9M$-198.2M$-172.0M$-142.4M$-143.1M−0.5%—
Invested Capital$397.5M$435.3M$403.6M$406.6M$424.6M+4.4%+1.7%
Cash Flow & Capital Allocation
Depreciation & Amortization (D&A)$20.3M$20.9M$21.7M$17.9M$15.4M−14.1%−6.8%
Stock-Based Compensation (SBC)$5.8M$6.7M$953,000$4.9M$6.7M+38.3%+3.8%
Capital Expenditures (CapEx)$11.9M$12.4M$9.8M$7.8M$10.8M+39.5%−2.3%
True FCF (ex-SBC Owner Cash)$42.9M$20.9M$1.8M$28.5M$57.1M+100.4%+7.5%
Share Repurchases (Buybacks)$0$6.0M$0$0$6.0M——
Dividends Paid$26.5M$27.0M$27.4M$27.5M$27.9M+1.7%+1.3%

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.

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