Douglas Dynamics (PLOW) Financial Statements & Analysis

Douglas Dynamics (PLOW) Income Statement

Douglas Dynamics reported revenue of $656.05M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 15.4% from $568.50M a year earlier. Net income was $46.90M, down 16.5% year over year, a net margin of 7.1%. Gross margin was 26.6% and operating margin 11.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $214.65M, up 10.5% from the same quarter a year earlier.

Douglas Dynamics Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Douglas Dynamics, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	656.05	568.50	568.18	616.07	541.45	480.15	571.71	524.07	474.93
Cost of Revenue	481.37	421.67	433.91	464.61	399.58	351.87	402.89	369.18	331.84
Gross Profit	174.68	146.84	134.27	151.46	141.87	128.28	168.82	154.89	143.09
Operating Expenses
Research & Development	0.00	0.00	10.08	0.00	0.00	0.00	0.00	3.19	2.93
Selling, General & Administrative	94.89	91.68	78.84	82.18	78.84	64.62	71.29	71.24	63.04
Operating Expenses	101.07	99.20	89.36	92.70	90.74	203.42	82.24	81.43	73.00
Operating Income	73.61	47.64	44.91	58.75	51.14	-75.14	86.57	73.46	70.09
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	12.11	15.26	-15.68	11.25	-11.84	20.24	16.78	16.94	18.34
Other Income/Expense	-12.10	41.52	-15.68	-11.39	-16.55	-23.69	-23.96	-17.70	-17.89
Income
Income Before Tax	61.51	73.89	29.23	47.36	34.59	-98.83	62.62	55.76	52.92
Income Tax Expense	14.61	17.74	5.51	8.75	3.90	-12.28	13.45	11.85	-2.41
Net Income	46.90	56.15	23.72	38.61	30.69	-86.55	49.17	43.91	55.32
Net Income - Continuous Operations	46.90	56.15	23.72	38.61	30.69	-86.55	49.17	43.91	55.32
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	88.98	107.04	66.57	79.55	72.66	-58.85	98.61	91.26	87.23
EBIT	73.63	89.15	44.91	58.75	52.35	-	-	-	-
Depreciation & Amortization	15.36	7.52	21.66	20.94	20.32	19.74	19.21	19.09	18.58
Earnings Per Share
Basic EPS	2.00	2.00	1.00	2.00	1.00	-4.00	2.00	2.00	2.00
Diluted EPS	2.00	2.00	1.00	2.00	1.00	-4.00	2.00	2.00	2.00
Basic Shares Outstanding	23.06	23.07	22.96	22.92	22.95	22.85	22.78	22.68	22.58
Diluted Shares Outstanding	23.58	23.51	22.96	22.92	22.96	22.85	22.81	22.70	22.59

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Douglas Dynamics Financial Statements

What was Douglas Dynamics's revenue in fiscal 2025?

Douglas Dynamics reported revenue of $656.05M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 15.4% from $568.50M a year earlier.

Is Douglas Dynamics profitable?

Yes. Douglas Dynamics earned net income of $46.90M in fiscal 2025, a net margin of 7.1%. In fiscal 2024 it earned $56.15M.

What is Douglas Dynamics's operating margin?

Douglas Dynamics's operating income was $73.61M on revenue of $656.05M in fiscal 2025, an operating margin of 11.2%, compared with 8.4% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition