Douglas Dynamics, Inc.
Rank #294Capital ReturnPLOW · NYSE · Consumer Cyclical
Douglas Dynamics, Inc. (PLOW) — Rank #294 by gross profitability (GP/assets 0.24) · ROE 15.7% · Piotroski F-Score 6 / 9.
As-of 2026-09-15 · CIK 0001287213 · all metrics point-in-time as of the filing date.
About
Douglas Dynamics, Inc. operates as a manufacturer and upfitter of commercial vehicle attachments and equipment in North America.
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It operates in two segments, Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment manufactures and sells snow and ice control attachments, and other products sold under the FISHER, WESTERN, and SNOWEX brands, as well as truck-mounted service cranes and dump hoists under the VENCO and VENTURO brands. The Work Truck Solutions segment engages in the manufacturing of municipal snow and ice control products under the HENDERSON brand; and upfit of attachments and storage under the HENDERSON and DEJANA brands, and related sub brands. The company also provides customized turnkey solutions to governmental agencies, such as departments of transportation and municipalities. It sells its products through a distributor network primarily to professional snowplowers who are contracted to remove snow and ice from commercial and residential areas. Douglas Dynamics, Inc.
was founded in 1946 and is headquartered in Milwaukee, Wisconsin.
- Industry
- Auto Parts
- Sector
- Consumer Cyclical
- State
- DE
- Filer Category
- Accelerated filer
- Fiscal Year End
- December 31
- Website
- douglasdynamics.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$904.74M
P/E (annual)
20.0
P/S (annual)
1.4
P/B
3.0
P/OCF (annual)
12.1
Shareholder Yield
2.6%
Employees
1,764
Industry
Auto Parts
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
3.4%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 0.5% — per-share value needs a total required return of 3.9% once share-count change is priced in.
vs. own 6-year median revenue growth: 6.4%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
-0.7%
r = 10% (base)
3.4%
r = 12%
6.9%
Net debt / market cap: 21.5%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.24
Primary signal (Novy-Marx).
49th pctl of 36 SIC 35 peers
Return on equity
15.7%
Gross margin
26.6%
11th pctl of 36 SIC 35 peers
Revenue growth (YoY)
15.4%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
2.1%
Revenue CAGR (5Y)
6.4%
Earnings CAGR (3Y)
6.7%
FCF CAGR (3Y)
31.4%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.42
23rd pctl of 36 SIC 35 peers (best = lowest)
Current ratio
2.16×
54th pctl of 36 SIC 35 peers
Quick ratio
1.00×
Net cash
-$199.14M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$63.56M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.36
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
1.0%
Stock-based comp intensity.
Dividend safety
Composite score
3.2 / 5
Piotroski F-Score
F-Score
6 / 9
Fundamental-strength score (0-9).