DOUGLAS DYNAMICS, INC (PLOW) FY2025 10-K Annual Report
DOUGLAS DYNAMICS, INC (PLOW) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 24, 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.
DOUGLAS DYNAMICS, INC FY2025 10-K Analysis
Business Overview
- • Core business model: North America's premier manufacturer and upfitter of commercial work truck attachments, specializing in snow and ice control equipment and truck upfits
- • New emphasis: 2025 acquisition of Venco Venturo adding truck-mounted service cranes and dump hoists to the product portfolio
Management Discussion & Analysis
- • Revenue $656.1M in 2025, up 15.4% from $568.5M in 2024; Work Truck Attachments $295.7M (+15.5%), Work Truck Solutions $360.3M (+15.3%)
- • Gross margin 26.6% in 2025 vs 25.8% in 2024; Operating margin 11.2% vs 15.6% reflecting increased SG&A expenses
Risk Factors
- • Regulatory risk: potential impact from evolving U.S. and regional climate change regulations increasing compliance costs and capital expenditures
- • Macroeconomic risk: snowfall below 10-year average in snow seasons ended 2023 and 2024 reduced sales volume in core North American snow-belt markets
DOUGLAS DYNAMICS, INC FY2025 Key Financial MetricsXBRL
Revenue
$656M
▲ +15.4% YoY
Net Income
$47M
▼ -16.5% YoY
Gross Margin
26.6%
▲ +80bp YoY
Operating Margin
11.2%
▼ -438bp YoY
Net Margin
7.1%
▼ -273bp YoY
ROE
16.7%
▼ -459bp YoY
Total Assets
$627M
▲ +6.2% YoY
EPS (Diluted)
$1.96
▼ -16.9% YoY
Operating Cash Flow
$75M
▲ +81.6% YoY
Source: XBRL data from DOUGLAS DYNAMICS, INC FY2025 10-K filing on SEC EDGAR. All figures in USD.
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