Douglas Dynamics

PLOW

Manufacturing - Tools & Accessories · Industrials

Price

$42.18

+1.07 (+2.60%)

Market Cap

$975.4M

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Mixed

Valuation

Strong

Dividends

Mixed

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Share count rising — dilution

+2.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 23.0M (2021) → 23.6M (2025)

Winston Score History

The full picture

Douglas Dynamics makes equipment that attaches to trucks to move snow and spread salt on roads. Its main brands include Fisher, Western, and SnowEx, which are sold to truck owners, municipalities, and contractors who need to clear parking lots, roads, and driveways during winter storms. The company is the largest manufacturer of work truck attachments in North America.

Douglas Dynamics makes money by selling snowplows, spreaders, and related parts through a network of dealers across the United States and Canada. Most of its revenue comes from product sales, with parts and accessories providing a steadier income stream year-round. The company's established dealer network and well-known brands give it a durable position in a niche market, but its biggest risk is weather dependence — a string of mild winters with below-average snowfall can sharply reduce demand and pressure its financial results.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

>+1,000% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-1.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

1.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$1.9B cash & investments at current burn rate

Revenue accelerating

Douglas Dynamics grew revenue 110357% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

31.1%

Modest — 31.1% gross margin

Profit after running costs

Operating Margin

0.0%

Thin — 0.0% operating margin

Return on the money invested

ROCE

0.0%

Weak — 0.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

>+1,000%

Fast-growing sales (>+1,000% YoY)

Profit growth

EPS YoY

-19.8%

Earnings shrinking (-19.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

Weak — only 0% of profit becomes cash

Spare cash per sale

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.51

Conservative — low debt load (0.51)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

18.7x

Fair value — P/E 18.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+4.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (18.7 → 14.0)

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Dividends

Dividend

Dividend Yield

2.65%

Moderate income — 2.65% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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