# Douglas Dynamics, Inc. (PLOW)

> Source: Nexqual · https://nexqual.com/PLOW · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Douglas Dynamics, Inc. (PLOW), nexqual.com/PLOW" · informational, not investment advice.

**Price:** USD 39.97 (-1.06% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 40.4 · day 39.35–40.57 · 52w 28.52–55 · market cap $922M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $699M, net income $52.5M (7.5% margin), free cash flow $49.2M (SEC filings).
- Valuation: P/E 17.6x (avg 18.3x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold PLOW (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.33 on a 1–5 scale) (3 analysts), mean target USD 54 (range 50–57).
- Total return with dividends: 1Y +29.9% vs S&P 500 +14.9%; 5Y +26.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 0.91, revenue estimate $219M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $541M | $616M | $568M | $569M | $656M | $699M |
| Gross profit | $142M | $151M | $134M | $147M | $175M | — |
| Operating income | $51.1M | $58.8M | $44.9M | $88.7M | $73.6M | $78.8M |
| Net income | $30.7M | $38.6M | $23.7M | $56.2M | $46.9M | $52.5M |
| EPS (diluted) | $1.29 | $1.63 | $0.98 | $2.36 | $1.96 | — |
| Free cash flow | $48.7M | $27.6M | $2.7M | $33.4M | $63.9M | $49.2M |
| Gross margin | 26.2% | 24.6% | 23.6% | 25.8% | 26.6% | — |
| Operating margin | 9.4% | 9.5% | 7.9% | 15.6% | 11.2% | 11.3% |
| Net margin | 5.7% | 6.3% | 4.2% | 9.9% | 7.1% | 7.5% |
| Revenue growth | +12.8% | +13.8% | -7.8% | +0.1% | +15.4% | — |
| Cash + short-term investments | $37.0M | $20.7M | $24.2M | $5.1M | $8.3M | — |
| Total debt | — | $219M | $196M | $148M | $151M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 17.6x · P/S 1.3x · P/FCF 18.7x · P/B 3.1x · FCF yield 5.34% · Earnings yield 5.70% · Dividend yield (paid, TTM) 3.06% · Buyback yield (TTM) 0.65%
P/E at fiscal year-ends: Dec 2025 16.4x, Dec 2024 9.9x, Dec 2023 28.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold PLOW. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 0.22% | $74.7M | Reduced -13.1% |

## Analysts
Consensus Buy (mean 2.33 on a 1–5 scale), 3 analysts; mean target USD 54 (low 50, high 57).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-04 | Baird | Target lowered | Neutral | $56 → $50 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +29.9% | +26.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +30.0% | +4.8% |
| Volatility (annualized) | 34.8% | 32.3% |
| Max drawdown | -27.2% (Jun 2026→Oct 2026) | -46.7% (Nov 2021→Apr 2024) |

## Peers (Auto Parts)
ATMU (Atmus Filtration Technologies I) USD 44.75 -0.73% · DORM (Dorman Products, Inc.) USD 127.49 +3.34% · GTX (Garrett Motion Inc.) USD 22 -8.07% · GNTX (Gentex Corporation) USD 21.74 +3.52% · LKQ (LKQ Corporation) USD 22.47 +5.10% · LEA (Lear Corporation) USD 118.61 +0.61%

## More
Full page: https://nexqual.com/PLOW · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Work Truck Attachments | $129.3M | 60.3% | +19.6% |
| Work Truck Solutions | $85.3M | 39.7% | -1.0% |
| Total revenue | $214.6M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Independent Dealer | $129.3M | 60.3% | +19.6% |
| Total revenue | $214.6M | 100% | — |
The lines above cover 60.3% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.91 | $0.80 | +14.5% | $218.6M | 4 |
| Next quarter (ends 2026-12-31) | $0.68 | $0.65 | +5.4% | $204.7M | 4 |
| Current fiscal year (ends 2026-12-31) | $3.12 | $2.85 | +9.7% | $775.6M | 4 |
| Next fiscal year (ends 2027-12-31) | $3.23 | $3.06 | +5.3% | $800.6M | 4 |