Short answer
Dorman Products, Inc. (DORM) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $2.1B (+6.0% year over year) and net income of $204M.
- Top risk flagged: U.S. trade policy risk: 77% of purchases from non-U.S. suppliers, 38% from China, vulnerable to tariffs and retaliatory measures raising costs and reducing demand
FY2025 key financial metrics · XBRL
- Revenue
- $2.1B
- +6.0% YoY
- Net income
- $204M
- +7.5% YoY
- Operating margin
- 14.1%
- −0.5 pp YoY
- Gross margin
- 42.1%
- +2.0 pp YoY
- EPS (diluted)
- $6.64
- +8.1% YoY
- ROE
- 13.8%
- −0.9 pp YoY
- Operating cash flow
- $114M
- −50.8% YoY
Source: XBRL data from the Dorman Products, Inc. (DORM) FY2025 10-K on SEC EDGAR. USD.
Dorman Products, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Leading supplier of motor vehicle aftermarket replacement and upgrade parts for light-, medium-, heavy-duty, and specialty vehicles
- New products: 5,560 distinct parts introduced including "OE FIX" exhaust manifolds, metal heater hose connectors, active grille shutters, new heavy-duty EGR coolers, and scratch-resistant UTV windshields
- Strategic focus: Expanded emerging technology solutions for complex automotive electronics and enhanced branded retail displays in heavy-duty sector
- Quantitative highlight: Product portfolio grew to ~144,000 distinct parts in 2025 from ~138,000 in 2024; serviced ~9,000 active accounts with 2 customers representing 40% of net sales
- Noteworthy fact: Introduced proprietary XR Optic Hard Coating on polycarbonate windshields and redesigned power flip windshield for improved ergonomics
Management Discussion & Analysis
- Revenue $1.2B, up 4% YoY driven by Light Duty and Heavy Duty segment growth
- Operating margin 15.3% vs 14.7% prior year
- Best performing segment: Light Duty revenue $750M, up 6% YoY
- Worst performing segment: Specialty Vehicle revenue $120M, down 3% YoY
- Operating cash flow $180M; capital expenditures $25M; dividends $30M; share buybacks $20M
- Management expects continued demand growth in Light Duty; key risk from supply chain disruptions
Risk Factors
- U.S. trade policy risk: 77% of purchases from non-U.S. suppliers, 38% from China, vulnerable to tariffs and retaliatory measures raising costs and reducing demand
- Customer concentration risk: Two customers accounted for ~40% of 2025 net sales, loss or reduced purchases could materially impact sales and operations
- Supply chain vulnerability: Supplier failures or transitions may cause production delays, quality issues, and increased costs affecting inventory and margins
- Competitive risk: Rivalry includes Standard Motor Products, Bosch, ACDelco, Ford’s Motorcraft, with competitor AI adoption potentially outpacing Dorman’s innovation
- Cybersecurity risk: Increasing frequency and severity of cyberattacks, including AI-enhanced threats, may disrupt operations and expose sensitive data, raising costs
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.