Douglas Dynamics, Inc (PLOW) Financial Statements
Industry: Construction Machinery & Equip
In fiscal 2025, Douglas Dynamics reported revenue of $656.1M, up 15.4% from $568.5M the year before. Net income was $46.9M (a 7.1% net margin), or $1.96 per diluted share. Gross margin was 26.6% and operating margin was 11.2%. Operating activities generated $74.7M of cash, leaving $63.9M of free cash flow. At fiscal year end, Douglas Dynamics held $626.7M in total assets against $345.3M in total liabilities.
Open the full interactive Douglas Dynamics financials → Quarterly statements, key ratios, valuation history and price charts.
Douglas Dynamics Key Stats
| Share Price | $39.87 |
|---|---|
| Market Cap | $940.5M |
| P/E Ratio | 20.3 |
| Revenue YoY Growth | +15.4% |
| 52-Week Range | $28.75 – $53.80 |
| Shares Outstanding | 23.1 million (basic, 2026 Q2) |
Douglas Dynamics Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $480.2M | $541.5M | $616.1M | $568.2M | $568.5M | $656.1M |
| Cost of Goods Sold | $351.9M | $399.6M | $464.6M | $433.9M | $421.7M | $481.4M |
| Gross Profit | $128.3M | $141.9M | $151.5M | $134.3M | $146.8M | $174.7M |
| Operating Income | -$75.1M | $51.1M | $58.8M | $44.9M | $88.7M | $73.6M |
| Pre-Tax Income | -$98.8M | $34.6M | $47.4M | $29.2M | $73.9M | $61.5M |
| Income Tax | -$12.3M | $3.9M | $8.8M | $5.5M | $17.7M | $14.6M |
| Net Income | -$86.6M | $30.7M | $38.6M | $23.7M | $56.2M | $46.9M |
| Diluted EPS | -$3.81 | $1.29 | $1.63 | $0.98 | $2.36 | $1.96 |
Douglas Dynamics Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $162.1M | $184.5M | $137.8M | $214.6M |
| Net Income | $8.0M | $12.8M | $6.4M | $25.4M |
| Diluted EPS | $0.33 | $0.54 | $0.26 | $1.07 |
Douglas Dynamics Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $41.0M | — | — | — | — | — |
| Current Assets | $217.2M | $220.4M | $252.9M | $262.2M | $238.2M | $266.0M |
| Total Assets | $579.2M | $572.5M | $596.9M | $593.4M | $590.0M | $626.7M |
| Current Liabilities | $66.2M | $81.9M | $100.4M | $118.5M | $70.2M | $95.8M |
| Total Long-Term Debt | $238.3M | $11.1M | $207.7M | $189.4M | $147.5M | $144.0M |
| Total Liabilities | $379.0M | $357.9M | $359.8M | $361.9M | $325.8M | $345.3M |
| Shareholders' Equity | $200.2M | $214.6M | $237.1M | $231.6M | $264.2M | $281.4M |
Douglas Dynamics Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $53.4M | $60.5M | $40.0M | $12.5M | $41.1M | $74.7M |
| Cash From Investing | -$14.5M | -$11.2M | -$12.0M | -$10.5M | $56.8M | -$37.5M |
| Cash From Financing | -$33.5M | -$53.4M | -$44.3M | $1.5M | -$117.0M | -$34.1M |
| Free Cash Flow | $38.9M | $49.3M | $27.6M | $2.7M | $33.4M | $63.9M |
Figures from Douglas Dynamics' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Douglas Dynamics financials page for every line item.
Douglas Dynamics Company Profile
| Ticker | PLOW |
|---|---|
| Exchange | NYSE |
| Industry | Construction Machinery & Equip |
| Headquarters | Milwaukee, Wisconsin |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001287213 |
Frequently Asked Questions
What was Douglas Dynamics' revenue in fiscal 2025?
Douglas Dynamics (PLOW) reported revenue of $656.1M for fiscal 2025.
What is Douglas Dynamics' annual revenue history?
Douglas Dynamics' annual revenue by fiscal year: 2020: $480.2M; 2021: $541.5M; 2022: $616.1M; 2023: $568.2M; 2024: $568.5M; 2025: $656.1M.
What was Douglas Dynamics' net income in fiscal 2025?
Douglas Dynamics reported net income of $46.9M for fiscal 2025.
What was Douglas Dynamics' earnings per share (EPS) in fiscal 2025?
Douglas Dynamics' diluted EPS was $1.96 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Douglas Dynamics generate in fiscal 2025?
Douglas Dynamics generated $63.9M of free cash flow in fiscal 2025.
What was Douglas Dynamics' revenue last quarter?
In its most recent reported quarter (2026 Q2), Douglas Dynamics reported revenue of $214.6M.
How much debt does Douglas Dynamics have?
Douglas Dynamics reported $144.0M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Douglas Dynamics are outstanding?
Douglas Dynamics reported a weighted average of 23.1 million basic shares outstanding in 2026 Q2.
What is Douglas Dynamics' market cap?
Based on its latest closing price, Douglas Dynamics (PLOW) has a market capitalization of about $940.5M.
When does Douglas Dynamics' fiscal year end?
Douglas Dynamics' fiscal year end, as registered with the SEC, is December 31.
Where is Douglas Dynamics headquartered?
Douglas Dynamics lists its business address in Milwaukee, Wisconsin in its SEC filings.