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PLOW Financials Douglas Dynamics, Inc

10 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 6.4% per year over the past 5 years.
  • Operating margin has expanded, at 11.2% in the latest year.
  • Free cash flow has grown 10.5% per year over the past 5 years.

Financial health

  • Total debt ($149M) exceeds cash ($8M); net debt is $141M.
  • Total debt has grown slower than revenue (-8.8% vs 6.4% per year).
  • Total debt is 1.7× EBITDA.

Shareholder returns

  • Dividends have been paid for 10 consecutive years, consuming 59.6% of earnings and 43.7% of free cash flow.
  • The dividend has grown 1.5% per year over the past 5 years.
Revenue & net income
-$87M $285M $656M $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
RevenueNet income
Margins (gross / operating / net)
-18% 7% 32% 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
GrossOperatingNet
Free cash flow (CFO − capex)
$0 $32M $64M 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Free cash flow
Cash vs total debt
$0 $153M $307M 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
CashTotal debt
Cash flow: operating / investing / financing
-$191M -$44M $103M $0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 $656M $47M 26.6% 11.2% $64M $149M $8M
2024 $569M $56M 25.8% 15.6% $33M $148M $5M
2023 $568M $24M 23.6% 7.9% $3M $236M $24M
2022 $616M $39M 24.6% 9.5% $28M $208M $21M
2021 $541M $31M 26.2% 9.4% $49M — $37M
2020 $480M -$87M 26.7% -15.6% $39M $237M $41M
2019 $572M — 29.5% 15.1% — $222M $36M
2018 $524M — 29.6% 14.0% — $243M $28M
2017 $475M — 30.1% 14.9% — $275M —
2016 $416M — 32.2% 16.8% — $307M —

Valuation over time

How the market has priced PLOW against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 14.1 28.2 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Price / sales (P/S)
0.0 0.9 1.9 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/S
Dividend yield (%)
0.0 2.6 5.2 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is PLOW growing its revenue and profit?

Over the past 5 years, Douglas Dynamics, Inc's revenue has grown 6.4% per year. These are computed facts, not advice.

How much debt does PLOW have?

As of FY2025, Douglas Dynamics, Inc reported $149M of total debt against $8M of cash.

What is PLOW's profit margin?

In FY2025, gross margin was 26.6%, operating margin 11.2%, and net margin 7.1%.

What is PLOW's P/E ratio?

As of Jun '26, Douglas Dynamics, Inc traded at a price-to-earnings ratio of about 26.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.