Short answer
DUCOMMUN INC /DE/ (DCO) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $825M (+4.9% year over year) and net income of −$34M.
- Top risk flagged: Regulatory risk: U.S. Supreme Court struck down tariffs under IEEPA but new 10% global tariffs effective Feb 24, 2026 for 150 days may increase to 15%
FY2025 key financial metrics · XBRL
- Revenue
- $825M
- +4.9% YoY
- Net income
- −$34M
- −207.8% YoY
- Operating margin
- -3.9%
- −10.6 pp YoY
- Gross margin
- 26.9%
- +1.8 pp YoY
- EPS (diluted)
- −$2.27
- −208.1% YoY
- ROE
- -5.1%
- −9.7 pp YoY
- Operating cash flow
- −$33M
- −197.7% YoY
Source: XBRL data from the DUCOMMUN INC /DE/ (DCO) FY2025 10-K on SEC EDGAR. USD.
DUCOMMUN INC /DE/ FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Designer and manufacturer of high-reliability electronic and structural aerospace and defense products with engineering and manufacturing solutions
- New acquisition: $117M acquisition of BLR Aerospace in April 2023, adding aerodynamic systems to Structural Systems segment for rotary and fixed-wing aircraft
- Strategic emphasis: Diversification through engineered proprietary products and aftermarket opportunities, advancing value-added supplier status above Tier Two and Three
- Aerospace/defense revenue split: $96\%$ of net revenues from aerospace and defense in 2025; commercial aerospace $38\%$, defense and space $58\%$
- Noteworthy risk: FAA scrutiny and legal challenges to Boeing's 737 MAX quality controls affecting commercial aerospace sector and production rates in 2024–2026
Management Discussion & Analysis
- No segment performance data or best/worst segment identified
- No cash flow, buybacks, dividends, or capex amounts mentioned
- No forward-looking outlook, guidance, or key emerging risks discussed
Risk Factors
- Regulatory risk: U.S. Supreme Court struck down tariffs under IEEPA but new 10% global tariffs effective Feb 24, 2026 for 150 days may increase to 15%
- Geopolitical risk: Military and space revenue 58.2% of net revenues, with uncertainty on future defense budget increases requiring Congressional approval
- Operational risk: Guaymas, Mexico fire damages facility; $150 million settlement paid including $56 million insurance recovery; continuing certification, ramp-up risks
- Competitive risk: Commercial aerospace revenues declined $24.8 million due to lower Boeing business after Boeing's 2025 acquisition of Spirit Aerosystems commercial operations
- Financial risk: Litigation settlement and related costs of $107.3 million in 2025 drove net loss of $33.9 million vs net income $31.5 million in 2024
Generated from the filing text; verify against the original. How to read a 10-K
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