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Douglas Dynamics NYSE:PLOW Stock Report

Last Price


Market Cap







17 May, 2022


Company Financials +
PLOW fundamental analysis
Snowflake Score
Future Growth3/6
Past Performance2/6
Financial Health3/6

PLOW Stock Overview

Douglas Dynamics, Inc. operates as a manufacturer and upfitter of commercial work truck attachments and equipment in North America.

Douglas Dynamics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Douglas Dynamics
Historical stock prices
Current Share PriceUS$30.49
52 Week HighUS$45.74
52 Week LowUS$29.14
1 Month Change-10.06%
3 Month Change-17.75%
1 Year Change-27.78%
3 Year Change-19.21%
5 Year Change5.32%
Change since IPO170.06%

Recent News & Updates

Mar 31

Douglas Dynamics: Plowing Your Way To Profits

Douglas Dynamics has had a rough couple of years due to the pandemic, but the overall fundamental condition of the business is favorable. Shares are not particularly cheap, but in two of three ways they tilt in the cheap direction. Overall, if management is accurate in their forecasts, shares might offer investors some upside.

Shareholder Returns

PLOWUS MachineryUS Market

Return vs Industry: PLOW underperformed the US Machinery industry which returned -18.2% over the past year.

Return vs Market: PLOW underperformed the US Market which returned -10.8% over the past year.

Price Volatility

Is PLOW's price volatile compared to industry and market?
PLOW volatility
PLOW Average Weekly Movement4.2%
Machinery Industry Average Movement5.6%
Market Average Movement7.8%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market2.9%

Stable Share Price: PLOW is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PLOW's weekly volatility (4%) has been stable over the past year.

About the Company

19481,436Bob McCormick

Douglas Dynamics, Inc. operates as a manufacturer and upfitter of commercial work truck attachments and equipment in North America. It operates through two segments, Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment manufactures and sells snow and ice control attachments, including snowplows, and sand and salt spreaders for light trucks and heavy duty trucks, as well as various related parts and accessories.

Douglas Dynamics Fundamentals Summary

How do Douglas Dynamics's earnings and revenue compare to its market cap?
PLOW fundamental statistics
Market CapUS$681.11m
Earnings (TTM)US$25.55m
Revenue (TTM)US$540.71m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PLOW income statement (TTM)
Cost of RevenueUS$403.95m
Gross ProfitUS$136.77m
Other ExpensesUS$111.22m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)1.12
Gross Margin25.29%
Net Profit Margin4.73%
Debt/Equity Ratio110.7%

How did PLOW perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


Is Douglas Dynamics undervalued compared to its fair value and its price relative to the market?

Valuation Score


Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: PLOW ($30.49) is trading above our estimate of fair value ($21.89)

Significantly Below Fair Value: PLOW is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: PLOW is poor value based on its PE Ratio (27.3x) compared to the US Machinery industry average (21.4x).

PE vs Market: PLOW is poor value based on its PE Ratio (27.3x) compared to the US market (15.5x).

Price to Earnings Growth Ratio

PEG Ratio: PLOW is good value based on its PEG Ratio (0.8x)

Price to Book Ratio

PB vs Industry: PLOW is overvalued based on its PB Ratio (3.4x) compared to the US Machinery industry average (2.1x).

Future Growth

How is Douglas Dynamics forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score


Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PLOW's forecast earnings growth (36.2% per year) is above the savings rate (1.9%).

Earnings vs Market: PLOW's earnings (36.2% per year) are forecast to grow faster than the US market (12.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PLOW's revenue (7.1% per year) is forecast to grow slower than the US market (7.9% per year).

High Growth Revenue: PLOW's revenue (7.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if PLOW's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Douglas Dynamics performed over the past 5 years?

Past Performance Score


Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PLOW has high quality earnings.

Growing Profit Margin: PLOW became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: PLOW's earnings have declined by 26.3% per year over the past 5 years.

Accelerating Growth: PLOW has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: PLOW has become profitable in the last year, making it difficult to compare its past year earnings growth to the Machinery industry (24%).

Return on Equity

High ROE: PLOW's Return on Equity (12.6%) is considered low.

Financial Health

How is Douglas Dynamics's financial position?

Financial Health Score


Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PLOW's short term assets ($202.9M) exceed its short term liabilities ($73.6M).

Long Term Liabilities: PLOW's short term assets ($202.9M) do not cover its long term liabilities ($269.8M).

Debt to Equity History and Analysis

Debt Level: PLOW's net debt to equity ratio (106.7%) is considered high.

Reducing Debt: PLOW's debt to equity ratio has reduced from 149.9% to 110.7% over the past 5 years.

Debt Coverage: PLOW's debt is not well covered by operating cash flow (4.5%).

Interest Coverage: PLOW's interest payments on its debt are well covered by EBIT (4.2x coverage).

Balance Sheet


What is Douglas Dynamics's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PLOW's dividend (3.8%) is higher than the bottom 25% of dividend payers in the US market (1.54%).

High Dividend: PLOW's dividend (3.8%) is low compared to the top 25% of dividend payers in the US market (4.06%).

Stability and Growth of Payments

Stable Dividend: PLOW's dividends per share have been stable in the past 10 years.

Growing Dividend: PLOW's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (102.5%), PLOW's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: PLOW is paying a dividend but the company has no free cash flows.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Bob McCormick (60 yo)





Mr. Robert M. McCormick, also known as Bob, has been President, Chief Executive Officer and Director of Douglas Dynamics, Inc. since January 1, 2019. Mr. McCormick served as Chief Operating Officer of Doug...

CEO Compensation Analysis

Compensation vs Market: Bob's total compensation ($USD3.34M) is about average for companies of similar size in the US market ($USD3.91M).

Compensation vs Earnings: Bob's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: PLOW's management team is considered experienced (4.8 years average tenure).

Board Members

Experienced Board: PLOW's board of directors are seasoned and experienced ( 10.8 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: PLOW insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Douglas Dynamics, Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Douglas Dynamics, Inc.
  • Ticker: PLOW
  • Exchange: NYSE
  • Founded: 1948
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Implied Market Cap: US$681.111m
  • Shares outstanding: 22.89m
  • Website:

Number of Employees


  • Douglas Dynamics, Inc.
  • 11270 West Park Place
  • Suite 300
  • Milwaukee
  • Wisconsin
  • 53223
  • United States


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/17 00:00
End of Day Share Price2022/05/17 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.