DUCOMMUN INC /DE/ (DCO) FY2025 10-K Annual Report
DUCOMMUN INC /DE/ (DCO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
DUCOMMUN INC /DE/ FY2025 10-K Analysis
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 revenue amount or YoY change disclosed in MD&A section
- • No specific profitability or margin % figures provided
- • 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
DUCOMMUN INC /DE/ FY2025 Key Financial MetricsXBRL
Revenue
$825M
▲ +4.9% YoY
Net Income
-$34M
▼ -207.8% YoY
Gross Margin
26.9%
▲ +179bp YoY
Operating Margin
-3.9%
▼ -1055bp YoY
Net Margin
-4.1%
▼ -812bp YoY
ROE
-5.1%
▼ -974bp YoY
Total Assets
$1.2B
▲ +5.3% YoY
EPS (Diluted)
$-2.27
▼ -208.1% YoY
Operating Cash Flow
-$33M
▼ -197.7% YoY
Source: XBRL data from DUCOMMUN INC /DE/ FY2025 10-K filing on SEC EDGAR. All figures in USD.
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