Douglas Dynamics (PLOW)
Market Price (6/26/2026): $53.43 | Market Cap: $1.2 BilSector: Consumer Discretionary | Industry: Automotive Parts & Equipment
Douglas Dynamics (PLOW)
Market Price (6/26/2026): $53.43Market Cap: $1.2 BilSector: Consumer DiscretionaryIndustry: Automotive Parts & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%, Dividend Yield is 2.3%, FCF Yield is 5.1% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% Low stock price volatilityVol 12M is 33% Megatrend and thematic driversMegatrends include Infrastructure Maintenance & Resilience. Themes include Snow & Ice Management Solutions, Specialty Work Truck Equipment, and Urban & Commercial Property Maintenance. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 59% Key risksPLOW key risks include [1] its heavy dependency on snowfall levels to drive demand and [2] profitability pressures from volatility in key raw material prices like steel. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%, Dividend Yield is 2.3%, FCF Yield is 5.1% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Low stock price volatilityVol 12M is 33% |
| Megatrend and thematic driversMegatrends include Infrastructure Maintenance & Resilience. Themes include Snow & Ice Management Solutions, Specialty Work Truck Equipment, and Urban & Commercial Property Maintenance. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 59% |
| Key risksPLOW key risks include [1] its heavy dependency on snowfall levels to drive demand and [2] profitability pressures from volatility in key raw material prices like steel. |
Qualitative Assessment
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Douglas Dynamics (PLOW) stock has gained about 20% since 2/28/2026 because of the following key factors:
1. Record-breaking Fiscal Q1 2026 Financial Performance.
Douglas Dynamics reported record first quarter 2026 results on May 4, 2026, significantly exceeding analyst expectations. The company announced adjusted diluted earnings per share (EPS) of $0.36, a 200% surprise over the Zacks Consensus Estimate of $0.12. Net sales for fiscal Q1 2026 surged 20% year-over-year to a record $137.8 million, surpassing analyst estimates of $133.25 million. Additionally, adjusted EBITDA increased 78% to a record $16.8 million. This strong performance led to a notable 13.82% gain in the stock price on the day the news was published.
2. Favorable Winter Weather Conditions Driving Demand.
The 2025/2026 winter season experienced the heaviest snowfall in a decade across Douglas Dynamics' core markets in the Northeast and Midwest, with snowfall totals approximately 25% above the 10-year average. This resulted in a substantial surge in demand for the company's Work Truck Attachments, particularly snow and ice control products. The Work Truck Attachments segment saw net sales increase by 67% year-over-year to $60.9 million in fiscal Q1 2026, driven by this strong snowfall-driven demand and the acquisition of Venco Venturo in November 2025.
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Douglas Dynamics (PLOW) stock has gained about 20% since 2/28/2026 because of the following key factors:
1. Record-breaking Fiscal Q1 2026 Financial Performance.
Douglas Dynamics reported record first quarter 2026 results on May 4, 2026, significantly exceeding analyst expectations. The company announced adjusted diluted earnings per share (EPS) of $0.36, a 200% surprise over the Zacks Consensus Estimate of $0.12. Net sales for fiscal Q1 2026 surged 20% year-over-year to a record $137.8 million, surpassing analyst estimates of $133.25 million. Additionally, adjusted EBITDA increased 78% to a record $16.8 million. This strong performance led to a notable 13.82% gain in the stock price on the day the news was published.
2. Favorable Winter Weather Conditions Driving Demand.
The 2025/2026 winter season experienced the heaviest snowfall in a decade across Douglas Dynamics' core markets in the Northeast and Midwest, with snowfall totals approximately 25% above the 10-year average. This resulted in a substantial surge in demand for the company's Work Truck Attachments, particularly snow and ice control products. The Work Truck Attachments segment saw net sales increase by 67% year-over-year to $60.9 million in fiscal Q1 2026, driven by this strong snowfall-driven demand and the acquisition of Venco Venturo in November 2025.
3. Upgraded Full-Year 2026 Financial Outlook.
Following its robust fiscal Q1 2026 results, Douglas Dynamics raised its full-year 2026 guidance. The company increased its outlook for net sales to a range of $750 million to $795 million and for adjusted EBITDA to a range of $110 million to $125 million. This upward revision in guidance signaled continued confidence in future performance and likely contributed to positive investor sentiment.
4. Positive Analyst Sentiment and Price Target Increases.
Analysts responded favorably to the company's performance and outlook during the period. On May 6, 2026, DA Davidson maintained a "Buy" rating and raised its price target for PLOW from $55 to $60. Shortly after, on May 11, 2026, Freedom Broker upgraded its rating to "Buy Now" and increased its price target from $48 to $55. As of June 20, 2026, the consensus analyst rating for Douglas Dynamics was "Strong Buy," with an average twelve-month price target of $54.67 among four analysts.
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Stock Movement Drivers
Fundamental Drivers
The 18.2% change in PLOW stock from 2/28/2026 to 6/25/2026 was primarily driven by a 9.5% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 45.31 | 53.54 | 18.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 656 | 679 | 3.5% |
| Net Income Margin (%) | 7.1% | 7.8% | 9.5% |
| P/E Multiple | 22.3 | 23.3 | 4.5% |
| Shares Outstanding (Mil) | 23 | 23 | -0.2% |
| Cumulative Contribution | 18.2% |
Market Drivers
2/28/2026 to 6/25/2026| Return | Correlation | |
|---|---|---|
| PLOW | 18.2% | |
| Market (SPY) | 7.3% | 34.0% |
| Sector (XLY) | -2.8% | 29.5% |
Fundamental Drivers
The 69.4% change in PLOW stock from 11/30/2025 to 6/25/2026 was primarily driven by a 34.2% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.60 | 53.54 | 69.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 615 | 679 | 10.4% |
| Net Income Margin (%) | 6.8% | 7.8% | 14.7% |
| P/E Multiple | 17.3 | 23.3 | 34.2% |
| Shares Outstanding (Mil) | 23 | 23 | -0.2% |
| Cumulative Contribution | 69.4% |
Market Drivers
11/30/2025 to 6/25/2026| Return | Correlation | |
|---|---|---|
| PLOW | 69.4% | |
| Market (SPY) | 8.1% | 36.8% |
| Sector (XLY) | -3.7% | 32.5% |
Fundamental Drivers
The 103.0% change in PLOW stock from 5/31/2025 to 6/25/2026 was primarily driven by a 146.8% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.37 | 53.54 | 103.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 588 | 679 | 15.5% |
| Net Income Margin (%) | 11.0% | 7.8% | -28.8% |
| P/E Multiple | 9.4 | 23.3 | 146.8% |
| Shares Outstanding (Mil) | 23 | 23 | 0.1% |
| Cumulative Contribution | 103.0% |
Market Drivers
5/31/2025 to 6/25/2026| Return | Correlation | |
|---|---|---|
| PLOW | 103.0% | |
| Market (SPY) | 26.0% | 40.8% |
| Sector (XLY) | 6.9% | 37.9% |
Fundamental Drivers
The 115.9% change in PLOW stock from 5/31/2023 to 6/25/2026 was primarily driven by a 58.6% change in the company's Net Income Margin (%).| (LTM values as of) | 5312023 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.80 | 53.54 | 115.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 596 | 679 | 13.9% |
| Net Income Margin (%) | 4.9% | 7.8% | 58.6% |
| P/E Multiple | 19.3 | 23.3 | 20.5% |
| Shares Outstanding (Mil) | 23 | 23 | -0.8% |
| Cumulative Contribution | 115.9% |
Market Drivers
5/31/2023 to 6/25/2026| Return | Correlation | |
|---|---|---|
| PLOW | 115.9% | |
| Market (SPY) | 82.6% | 34.5% |
| Sector (XLY) | 53.2% | 34.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PLOW Return | -6% | -4% | -15% | -16% | 44% | 56% | 44% |
| Peers Return | 7% | -12% | 16% | -21% | 15% | 61% | 61% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| PLOW Win Rate | 17% | 42% | 50% | 33% | 67% | 67% | |
| Peers Win Rate | 55% | 40% | 47% | 35% | 58% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| PLOW Max Drawdown | -30% | -29% | -39% | -26% | -20% | -15% | |
| Peers Max Drawdown | -32% | -42% | -32% | -35% | -33% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VC, PATK, CVGI, MGA, BWA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/25/2026 (YTD)
How Low Can It Go
| Event | PLOW | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -16.3% | -18.8% |
| % Gain to Breakeven | 19.5% | 23.1% |
| Time to Breakeven | 30 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.1% | -9.5% |
| % Gain to Breakeven | 25.1% | 10.5% |
| Time to Breakeven | 44 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -33.1% | -6.7% |
| % Gain to Breakeven | 49.6% | 7.1% |
| Time to Breakeven | 979 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -27.9% | -24.5% |
| % Gain to Breakeven | 38.7% | 32.4% |
| Time to Breakeven | 146 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.6% | -33.7% |
| % Gain to Breakeven | 102.3% | 50.9% |
| Time to Breakeven | 359 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.7% | -19.2% |
| % Gain to Breakeven | 29.4% | 23.8% |
| Time to Breakeven | 226 days | 105 days |
In The Past
Douglas Dynamics's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.5% gain to breakeven.
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| Event | PLOW | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.1% | -9.5% |
| % Gain to Breakeven | 25.1% | 10.5% |
| Time to Breakeven | 44 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -33.1% | -6.7% |
| % Gain to Breakeven | 49.6% | 7.1% |
| Time to Breakeven | 979 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -27.9% | -24.5% |
| % Gain to Breakeven | 38.7% | 32.4% |
| Time to Breakeven | 146 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.6% | -33.7% |
| % Gain to Breakeven | 102.3% | 50.9% |
| Time to Breakeven | 359 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.7% | -19.2% |
| % Gain to Breakeven | 29.4% | 23.8% |
| Time to Breakeven | 226 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -22.9% | -12.2% |
| % Gain to Breakeven | 29.7% | 13.9% |
| Time to Breakeven | 58 days | 62 days |
In The Past
Douglas Dynamics's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Douglas Dynamics (PLOW)
Douglas Dynamics (PLOW) is a leading North American manufacturer and upfitter of specialized equipment for commercial work trucks. The company primarily operates in two key areas. Its Work Truck Attachments segment focuses on producing and selling snow and ice control attachments, such as snowplows and sand/salt spreaders, designed for both light and heavy-duty trucks. These products are marketed under well-known brands like WESTERN, FISHER, and SNOWEX.
The second segment, Work Truck Solutions, expands beyond snow and ice control into comprehensive vehicle outfitting. This segment manufactures municipal snow and ice control products (under brands like HENDERSON) and provides truck and vehicle upfitting services. This involves attaching various component pieces of equipment, truck bodies, racking, and storage solutions to vehicle chassis to create ready-to-use work vehicles. Additionally, it offers storage solutions for trucks and vans, and cable pulling equipment.
Douglas Dynamics serves a diverse customer base. For its snow and ice control products, the primary customers are professional snowplowers who are contracted to clear snow and ice from commercial and residential properties. The Work Truck Solutions segment caters to governmental agencies, such as Departments of Transportation and municipalities, providing customized turnkey solutions, as well as a broader range of end-users who require specialized, upfitted trucks and vans for various work-related purposes.
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Here are 1-2 brief analogies for Douglas Dynamics (PLOW):
The John Deere for specialized winter and municipal truck equipment. (John Deere is known for robust, specialized equipment for outdoor land management; Douglas Dynamics provides robust, specialized equipment for winter road and municipal maintenance, attached to trucks.)
Like a specialized version of Milwaukee Tool (TTI) for commercial truck attachments and upfits. (Milwaukee Tool is recognized for professional-grade, durable tools for tradespeople; Douglas Dynamics provides professional-grade, durable attachments and modifications that transform standard commercial trucks into specialized work vehicles.)
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- Snowplows: Attachments for light and heavy-duty trucks used for snow removal.
- Sand and Salt Spreaders: Attachments for light and heavy-duty trucks designed to distribute de-icing materials.
- Truck and Vehicle Upfitting: Services that involve attaching equipment, truck bodies, racking, and storage solutions to vehicle chassis for work purposes.
- Truck and Van Storage Solutions: Products providing organizational and storage capabilities for trucks and vans.
- Municipal Snow and Ice Control Products: Specialized equipment and solutions designed for governmental agencies to manage snow and ice.
- Cable Pulling Equipment: Specialized equipment for trucks used in tasks requiring cable pulling.
- Customized Turnkey Solutions: Comprehensive, ready-to-use solutions provided to governmental agencies like Departments of Transportation and municipalities.
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- Professional Snow and Ice Management Contractors: These are individuals or small businesses that utilize snowplows, sand, and salt spreaders for contract snow and ice removal from commercial and residential areas.
- Governmental Agencies and Municipalities: This includes state Departments of Transportation and local municipalities that purchase specialized snow and ice control products, as well as customized turnkey solutions for public works and infrastructure maintenance.
- Commercial and Vocational End-Users: This broad category encompasses various businesses and trades that require truck and vehicle upfits, specialized truck bodies, racking and storage solutions, and cable pulling equipment for their work-related purposes.
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Mark Van Genderen, President and Chief Executive Officer
Mark Van Genderen currently serves as President and Chief Executive Officer (CEO) of Douglas Dynamics and is a Director of the Company. He previously served as Chief Operating Officer from 2024 to 2025 and President, Work Truck Attachments from 2023 to 2025. Mr. Van Genderen joined Douglas Dynamics in 2020 and spent 21 years in various leadership roles at the Harley-Davidson Motor Company prior to that. He holds a bachelor's degree in Business Administration and an MBA from Northwestern University's Kellogg School of Management.
Sarah C. Lauber, Executive Vice President, Chief Financial Officer and Secretary
Sarah C. Lauber has been the Chief Financial Officer of Douglas Dynamics, Inc. since August 28, 2017. Before joining Douglas Dynamics, Ms. Lauber was Senior Vice President and Chief Financial Officer at Jason Industries, Inc., a diversified industrial company, from 2015 to 2017. She also served as Vice President, Financial Planning and Analysis at Regal Beloit Corporation from 2011 to 2015, and as Chief Financial Officer of A.O. Smith Corporation's Electrical Products Company (EPC) from 2002 until its acquisition by Regal Beloit in 2011. Ms. Lauber began her career as an accountant at KPMG. She is a licensed Certified Public Accountant and serves on the Board of Directors of The Timken Company. She holds a bachelor's degree from California State University-San Bernardino and an executive MBA from Northwestern University's Kellogg School of Management.
James L. Janik, Director
James L. Janik has been a director of Douglas Dynamics since 2000 and served as Chairman of the Board of Directors from 2014 to April 2025. He also served as Interim President and CEO from July 2024 until March 2025. Mr. Janik was the President and Chief Executive Officer of the Company from 2000 to 2018. He joined Douglas Dynamics in 1992 as Director of Sales of Western Products. Prior to joining Douglas Dynamics, he was the Vice President of Marketing and Sales at Sunlite Plastics Inc. and spent eleven years at the John Deere Company in various marketing, sales, and production management positions. Mr. Janik partnered with Aurora Capital, a private equity firm, in 2004 to carve Douglas Dynamics out of AK Steel.
Chris Bernauer, President, Work Truck Attachments
Chris Bernauer serves as President of Work Truck Attachments at Douglas Dynamics, a role he assumed effective February 28, 2025. Before joining Douglas Dynamics, Mr. Bernauer held leadership positions at multiple companies primarily within the automotive, motorcycle, and marine sectors. Most recently, he served as President and CEO of Temperature Systems, Inc., an HVAC/R distribution company, and prior to that, as President of Harris & Cypress Cay Pontoons, a division of Brunswick Corporation.
Shannan Vlieger, Senior Vice President, People and Culture
Shannan Vlieger was promoted to Senior Vice President, People and Culture, effective October 1, 2024. She joined Douglas Dynamics in 2016 as Director of Operational Excellence. In her previous capacity as Vice President, Business Transformation, Ms. Vlieger led strategic initiatives and Continuous Improvement efforts using the Douglas Dynamics Management System (DDMS). Before joining Douglas Dynamics, she spent 13 years at Harley-Davidson Motor Company in a variety of roles with an emphasis on people and process improvement. Since 2018, she has been at the forefront of steering the company's Environmental, Social, and Governance (ESG) efforts.
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The key risks to Douglas Dynamics' business (PLOW) are primarily linked to environmental factors and macroeconomic conditions, given its specialized product offerings.
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Dependence on Winter Weather Conditions: A significant portion of Douglas Dynamics' revenue is derived from the sale of snow and ice control attachments and municipal snow and ice control products. The demand for these products is directly and heavily influenced by the level, timing, and location of snowfall and ice events. Milder winters or extended periods of below-average snowfall in key markets can lead to reduced demand for new equipment, an elongated equipment replacement cycle, and decreased pre-season orders, thereby negatively impacting revenue and profitability. Climate change, with its potential for decreased snowfall in some regions and increased unpredictability of winter weather, poses a long-term risk to this core segment.
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Economic Sensitivity and Capital Expenditure: Douglas Dynamics' Work Truck Solutions segment, which includes vehicle upfits, storage solutions, and cable pulling equipment, along with its overall commercial and governmental sales, is sensitive to broader economic conditions. A slowdown in the economy can lead to reduced spending by businesses and municipalities on new commercial vehicles, equipment, and upfitting services. Factors such as higher interest rates can also increase the cost of financing equipment for customers, potentially slowing down fleet expansion and reducing demand for the company's products. As a manufacturer within the heavy equipment and trucking industries, Douglas Dynamics' performance is closely tied to the health of the U.S. economy, which influences freight demand, consumer spending, and business investment.
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Snow and Ice Control Attachments and Equipment
Douglas Dynamics manufactures and sells snow and ice control attachments, including snowplows and spreaders.- The global snow removal equipment market was estimated at approximately USD 10.3 billion in 2025 and is projected to reach USD 18.4 billion by 2035, growing at a compound annual growth rate (CAGR) of 6.1%.
- In 2025, the U.S. market for snow removal equipment accounted for approximately USD 3 billion, representing about 74.6% of the North American market.
- The broader North America commercial facility snow and ice management service market, which includes services alongside equipment, was estimated at USD 22.53 billion in 2023 and is expected to reach USD 23.02 billion in 2024. This market is anticipated to grow to USD 27.42 billion by 2030, with a CAGR of 3.0% from 2024.
Work Truck Solutions (Upfitting, Truck Bodies, and Storage Solutions)
This segment includes manufacturing municipal snow and ice control products, providing truck and vehicle upfits, and manufacturing storage solutions for trucks and vans.- The global commercial vehicle upfitting market was valued at USD 33.1 billion in 2024 and is projected to grow from USD 34.4 billion in 2025 to USD 50 billion by 2035, at a CAGR of 3.8%.
- North America is a dominant region in the commercial vehicle upfitting market, with an estimated value of USD 12 billion in 2024, expected to reach USD 17 billion by 2035.
- The global truck body market was valued at USD 29.27 billion in 2025 and is expected to grow to USD 49.53 billion by 2035, with a CAGR of 5.40% during the forecast period of 2026-2035.
- North America holds a significant share of the global truck bodies market, accounting for 38% of the total market, driven by industrial logistics and construction fleet expansion. This suggests a North American truck bodies market of approximately USD 11.12 billion in 2025 (38% of USD 29.27 billion).
- Specifically for service truck bodies, the global market was valued at USD 929.45 million in 2025 and is projected to grow to USD 1662.05 million by 2035, at a CAGR of 6.4%. North America leads this market with over 800,000 units in operation in 2023.
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Share Repurchases
- Douglas Dynamics announced a $50 million equity buyback program in February 2022, which does not have an expiration date.
- In the first half of 2025, the company repurchased approximately 210,000 shares of its stock, contributing to $12.9 million returned to shareholders through dividends and buybacks.
- The company spent $6 million on the repurchase of common stock in 2025.
Outbound Investments
- On November 3, 2025, Douglas Dynamics completed the acquisition of substantially all assets of Venco Venturo Industries LLC, a provider of truck-mounted service cranes and dump hoists.
- This acquisition, costing $26.3 million in 2025, represents a key step in the company's "Activate" strategic pillar, aiming to diversify its portfolio with complex attachments.
- The Venco Venturo acquisition is expected to be modestly accretive to earnings per share and free cash flow positive before synergies in 2026.
Capital Expenditures
- Capital expenditures for Douglas Dynamics were $11.1 million in 2025, an increase from $7.8 million in 2024.
- The company anticipates 2025 capital expenditures to be at the higher end of its traditional range of 2% to 3% of net sales.
- Future capital expenditures are expected to increase year-over-year in 2026, focusing on business growth, including expanding municipal upfit capacity in its Work Truck Solutions segment and manufacturing optimization in Work Truck Attachments.
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 67.41 |
| Mkt Cap | 3.0 |
| Rev LTM | 3,866 |
| Op Inc LTM | 287 |
| FCF LTM | 201 |
| FCF 3Y Avg | 253 |
| CFO LTM | 311 |
| CFO 3Y Avg | 363 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.6% |
| Rev Chg 3Y Avg | 0.3% |
| Rev Chg Q | 1.6% |
| QoQ Delta Rev Chg LTM | 0.4% |
| Op Inc Chg LTM | 7.7% |
| Op Inc Chg 3Y Avg | 10.0% |
| Op Mgn LTM | 7.4% |
| Op Mgn 3Y Avg | 7.6% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 9.5% |
| CFO/Rev 3Y Avg | 9.6% |
| FCF/Rev LTM | 6.3% |
| FCF/Rev 3Y Avg | 6.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Work Truck Solutions | 360 | 312 | 276 | 234 | 216 |
| Work Truck Attachments | 296 | 256 | 292 | 382 | 326 |
| Total | 656 | 569 | 568 | 616 | 541 |
| $ Mil | 2017 | 2016 |
|---|---|---|
| Work Truck Attachments | 78 | 86 |
| Work Truck Solutions | 10 | 3 |
| Corporate & Eliminations | -18 | -20 |
| Total | 70 | 69 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Work Truck Attachments | 388 | 368 | 393 | 398 | 385 |
| Work Truck Solutions | 239 | 222 | 200 | 199 | 188 |
| Total | 627 | 590 | 593 | 597 | 572 |
Price Behavior
| Market Price | $53.54 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 05/05/2010 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $45.69 | $38.01 |
| DMA Trend | up | up |
| Distance from DMA | 17.2% | 40.9% |
| 3M | 1YR | |
| Volatility | 47.4% | 32.9% |
| Downside Capture | 74.42 | 83.64 |
| Upside Capture | 124.33 | 141.43 |
| Correlation (SPY) | 27.5% | 40.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.07 | 1.64 | 1.33 | 1.22 | 1.19 | 0.78 |
| Up Beta | -2.99 | 1.47 | 0.98 | 1.01 | 1.34 | 0.74 |
| Down Beta | 2.45 | 1.83 | 1.32 | 1.06 | 0.88 | 0.57 |
| Up Capture | 86% | 100% | 112% | 182% | 163% | 78% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 22 | 32 | 68 | 123 | 376 |
| Down Capture | 357% | 292% | 175% | 106% | 106% | 97% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 19 | 31 | 56 | 126 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PLOW | |
|---|---|---|---|---|
| PLOW | 89.7% | 32.8% | 1.98 | - |
| Sector ETF (XLY) | 5.8% | 18.6% | 0.17 | 37.0% |
| Equity (SPY) | 22.1% | 12.4% | 1.33 | 39.6% |
| Gold (GLD) | 20.8% | 27.7% | 0.67 | 10.9% |
| Commodities (DBC) | 23.3% | 18.5% | 0.99 | -11.9% |
| Real Estate (VNQ) | 11.6% | 13.8% | 0.55 | 27.8% |
| Bitcoin (BTCUSD) | -42.9% | 42.5% | -1.20 | 18.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PLOW | |
|---|---|---|---|---|
| PLOW | 9.8% | 32.8% | 0.34 | - |
| Sector ETF (XLY) | 6.4% | 23.9% | 0.23 | 41.3% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 43.3% |
| Gold (GLD) | 17.4% | 18.3% | 0.77 | 6.7% |
| Commodities (DBC) | 7.9% | 19.5% | 0.30 | 9.4% |
| Real Estate (VNQ) | 2.8% | 18.9% | 0.05 | 41.8% |
| Bitcoin (BTCUSD) | 9.8% | 54.1% | 0.38 | 16.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PLOW | |
|---|---|---|---|---|
| PLOW | 13.1% | 34.9% | 0.45 | - |
| Sector ETF (XLY) | 12.4% | 22.1% | 0.51 | 43.9% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 46.6% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | 2.9% |
| Commodities (DBC) | 5.9% | 18.0% | 0.25 | 15.8% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 43.0% |
| Bitcoin (BTCUSD) | 56.4% | 66.5% | 0.97 | 10.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | -10.5% | -11.4% | -11.8% |
| 2/24/2026 | 3.9% | 1.9% | -2.6% |
| 11/4/2025 | 5.9% | 5.2% | 7.3% |
| 8/5/2025 | 6.4% | 9.9% | 16.7% |
| 5/6/2025 | 0.5% | 14.9% | 7.9% |
| 2/25/2025 | 2.4% | -3.9% | -10.7% |
| 10/29/2024 | 0.4% | 2.8% | 11.6% |
| 7/30/2024 | -5.9% | -10.7% | -9.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 11 |
| # Negative | 13 | 10 | 13 |
| Median Positive | 2.4% | 5.2% | 8.1% |
| Median Negative | -1.4% | -3.5% | -4.5% |
| Max Positive | 6.5% | 14.9% | 16.7% |
| Max Negative | -10.5% | -11.4% | -19.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | -10.5% | -11.4% | -11.8% |
| 2/24/2026 | 3.9% | 1.9% | -2.6% |
| 11/4/2025 | 5.9% | 5.2% | 7.3% |
| 8/5/2025 | 6.4% | 9.9% | 16.7% |
| 5/6/2025 | 0.5% | 14.9% | 7.9% |
| 2/25/2025 | 2.4% | -3.9% | -10.7% |
| 10/29/2024 | 0.4% | 2.8% | 11.6% |
| 7/30/2024 | -5.9% | -10.7% | -9.8% |
| 4/30/2024 | -0.1% | 5.2% | 8.1% |
| 2/27/2024 | -3.5% | -3.0% | -3.6% |
| 10/31/2023 | 2.4% | 8.6% | 12.5% |
| 7/31/2023 | 6.5% | 2.7% | -4.1% |
| 5/1/2023 | -8.4% | -7.7% | -4.5% |
| 2/21/2023 | -1.0% | -5.9% | -19.3% |
| 11/1/2022 | -4.3% | -0.5% | 3.3% |
| 8/2/2022 | -1.4% | 2.7% | -8.0% |
| 5/3/2022 | 1.6% | -2.2% | 4.7% |
| 2/22/2022 | -1.7% | 0.8% | -1.9% |
| 11/2/2021 | 4.4% | 8.8% | -2.1% |
| 8/3/2021 | -0.3% | 4.8% | 2.5% |
| 5/3/2021 | -0.4% | -1.2% | -2.4% |
| 2/23/2021 | -1.2% | -2.0% | -9.2% |
| 11/2/2020 | -0.0% | 5.2% | 15.0% |
| 8/4/2020 | 1.1% | 7.5% | 8.9% |
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 11 |
| # Negative | 13 | 10 | 13 |
| Median Positive | 2.4% | 5.2% | 8.1% |
| Median Negative | -1.4% | -3.5% | -4.5% |
| Max Positive | 6.5% | 14.9% | 16.7% |
| Max Negative | -10.5% | -11.4% | -19.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 11/02/2021 | 10-Q |
| 06/30/2021 | 08/03/2021 | 10-Q |
| 03/31/2021 | 05/03/2021 | 10-Q |
| 12/31/2020 | 02/23/2021 | 10-K |
| 09/30/2020 | 11/02/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/05/2020 | 10-Q |
| 12/31/2019 | 02/25/2020 | 10-K |
| 09/30/2019 | 11/05/2019 | 10-Q |
| 06/30/2019 | 08/06/2019 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 750.00 Mil | 772.50 Mil | 795.00 Mil | 5.1% | Raised | Guidance: 735.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 110.00 Mil | 117.50 Mil | 125.00 Mil | 6.8% | Raised | Guidance: 110.00 Mil for 2026 | |
| 2026 Adjusted Diluted EPS | 2.55 | 2.8 | 3.05 | 9.8% | Raised | Guidance: 2.55 for 2026 | |
| 2026 Effective tax rate | 24.0% | 24.5% | 25.0% | 0 | 0 | Affirmed | Guidance: 24.5% for 2026 |
Prior: Q4 2025 Earnings Reported 2/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 710.00 Mil | 735.00 Mil | 760.00 Mil | 13.5% | Higher New | Actual: 647.50 Mil for 2025 | |
| 2026 Adjusted EBITDA | 100.00 Mil | 110.00 Mil | 120.00 Mil | 16.4% | Higher New | Actual: 94.50 Mil for 2025 | |
| 2026 Adjusted Diluted EPS | 2.25 | 2.55 | 2.85 | 24.4% | Higher New | Actual: 2.05 for 2025 | |
| 2026 Effective tax rate | 24.0% | 24.5% | 25.0% | 0 | 0 | Same New | Actual: 24.5% for 2025 |
Insider Activity
Updated 5/13/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sisulak, Jon J | Controller | Direct | Sell | 3112026 | 42.61 | 977 | 41,627 | 606,376 | Form |
| 2 | Bernauer, Christopher E | Pres. Work Truck Attachments | Direct | Sell | 3112026 | 42.61 | 869 | 37,025 | 393,812 | Form |
| 3 | Janik, James L | Direct | Sell | 5192025 | 29.01 | 15,650 | 454,038 | 1,164,426 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sisulak, Jon J | Controller | Direct | Sell | 3112026 | 42.61 | 977 | 41,627 | 606,376 | Form |
| 2 | Bernauer, Christopher E | Pres. Work Truck Attachments | Direct | Sell | 3112026 | 42.61 | 869 | 37,025 | 393,812 | Form |
| 3 | Janik, James L | Direct | Sell | 5192025 | 29.01 | 15,650 | 454,038 | 1,164,426 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Automotive Parts & Equipment Resources |
| AftermarketNews |
| Tire Review |
| Motor Age |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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