Douglas Dynamics Inc
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Douglas Dynamics Inc AI Insights
Informational only. Not investment advice.Snapshot
- Revenue grew 25.3% TTM vs industry median 1.1% - 23x faster growth rate signals market share gains or cyclical tailwind.[Total Revenue 1Y Growth]
- Goodwill of 113M is 41% of equity (275M) - acquisition-driven growth creates impairment risk if integration falters.[Goodwill]
- Debt/equity 1.07x with 296M total debt vs 83M EBITDA TTM = 3.6x leverage; interest expense 12M consumes 22% of pretax income.[Debt to Equity]
Watch Triggers
- Inventory: Rises above 180M or 30% of revenue — Signals demand slowdown or production misalignment ahead of weak snow season
- Interest Expense TTM: Exceeds 15M or 25% of pretax income — Indicates refinancing at higher rates compressing earnings power
- Operating Margin TTM: Falls below 8% — Margin compression would signal pricing power erosion or cost inflation
Bull Case
Operating margin 10.9% TTM vs industry median 3.7% demonstrates pricing power in niche snow/ice equipment market; 25% revenue growth shows demand acceleration.
FCF yield of 4.6% (41M/889M market cap) with 67% dividend payout ratio sustainable; 1.18 DPS on 1.75 EPS TTM.
Bear Case
3.6x debt/EBITDA with 92M current debt maturing creates refinancing risk; rising rates could compress margins given 12M interest expense TTM.
Weather-dependent revenue highly cyclical; mild winters could reverse 25% growth, stranding elevated inventory (158M, 26% of revenue).
Bull vs Bear Balance
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Forward Thesis
FCF generation should enable debt paydown of 40-50M annually, reducing leverage to <2.5x within 18 months.
- FCF TTM 41M with low capex (12M)
- Operating margin 10.9% sustainable
- Working capital 175M provides buffer
Valuation Context
Caveats
Public Strategies Rankings
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PLOW Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$988.11M | — | ||
$1.2B | — | ||
21 | — | ||
$656.05M | +15.4% | — | |
$1.96 | +90.9% | — | |
11.2% | +2.8% | — | |
7.15% | -2.7% | — | |
$63.56M | +90.7% | — | |
17.2% | -5.5% | — | |
Beta 5Y (Monthly) | unknown | — |
PLOW Dividend History
2026
$0.29502025
$1.18002024
$1.18002023
$1.18002022
$1.16002021
$1.14002020
$1.12002019
$1.09002018
$1.06002017
$0.96002016
$0.94002015
$0.89002014
$0.87002013
$0.83502012
$0.82252011
$1.17502010
$0.3825PLOW Stock Splits
PLOW SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/24/26 | 12/31/25 | 10-K | |
11/04/25 | 09/30/25 | 10-Q | |
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02/25/25 | 12/31/24 | Unknown | |
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05/06/10 | 12/31/09 | 424B4 | |
01/29/10 | 09/30/09 | S-1 | |
08/13/10 | 06/30/09 | 10-Q | |
06/17/10 | 03/31/09 | 10-Q | |
01/29/10 | 12/31/08 | S-1 |