Is the business good?
How good a business is PLOW?
Douglas Dynamics, Inc. earns 21% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
21%
Return on invested capital · cost of capital 9.0% · 12 points above what the capital costs: growth creates value
- Operating margin
- 12%
Operating margin · Auto Parts median 8.5% · 12 months to Q1 2026
- Cash conversion
- 1.21×
Cash conversion · 0.83× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +2.0%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −16% |
| FY2021 | 9.4% |
| FY2022 | 9.5% |
| FY2023 | 7.9% |
| FY2024 | 16% |
| FY2025 | 11% |
Details›
- Gross margin12 months to Q1 2026
- 27%
- Operating margin12 months to Q1 2026
- 12%
- Net margin12 months to Q1 2026
- 7.6%
- Free cash flow margin
- 9.3%
- Revenue, trailing twelve months
- $679M
- Free cash flow, trailing twelve months
- $63M
- Net income, trailing twelve months
- $52M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 21%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.