Douglas Dynamics, Inc. (PLOW)

Douglas Dynamics Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	65.75	46.9	56.15	23.72	38.61	30.69
Depreciation & Amortization	15.35	15.36	17.89	21.66	20.94	20.32
Other Amortization	0.42	0.49	0.7	0.59	0.49	0.89
Loss (Gain) From Sale of Assets	0.66	-	-41.95	-0.06	0.11	-0.22
Asset Writedown & Restructuring Costs	-	-	1.22	-	-	1.21
Stock-Based Compensation	10.31	6.72	4.86	0.95	6.73	5.79
Provision & Write-off of Bad Debts	0.63	0.28	0.7	0.32	-1.48	0.07
Other Operating Activities	15.92	18.09	2.99	11.97	-2.93	7.13
Change in Accounts Receivable	-40.67	-6.1	-4.35	2.68	-14.25	12.09
Change in Inventory	-17.23	-0.67	3.36	-3.89	-32.48	-24.28
Change in Accounts Payable	-0.52	3.39	0.99	-17.12	21.52	10.42
Change in Other Net Operating Assets	-2.22	-9.77	-1.44	-28.36	2.77	-3.58
Operating Cash Flow	48.4	74.69	41.13	12.47	40.03	60.54
Operating Cash Flow Growth	-8.97%	81.59%	229.87%	-68.85%	-33.87%	13.43%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-14.28	-11.13	-7.81	-10.52	-12.05	-11.21
Cash Acquisitions	-27.25	-26.33	-	-	-	-
Other Investing Activities	-	-	64.6	-	-	-
Investing Cash Flow	-41.53	-37.46	56.79	-10.52	-12.05	-11.21

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	5	-	47	-	-
Long-Term Debt Issued	-	148.77	-	0.75	-	224.44
Total Debt Issued	31	153.77	-	47.75	-	224.44
Short-Term Debt Repaid	-	-	-47	-	-	-
Long-Term Debt Repaid	-	-153.43	-42.2	-18.44	-11.25	-249.94
Total Debt Repaid	-7.62	-153.43	-89.2	-18.44	-11.25	-249.94
Net Debt Issued (Repaid)	23.38	0.34	-89.2	29.31	-11.25	-25.5
Repurchase of Common Stock	-7.26	-6.16	-	-	-6	-
Common Dividends Paid	-28.14	-27.94	-27.48	-27.44	-27.03	-26.52
Other Financing Activities	-	-0.29	-0.28	-0.33	-	-1.37
Financing Cash Flow	-12.03	-34.05	-116.96	1.54	-44.28	-53.39

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Cash Flow	-5.16	3.18	-19.04	3.49	-16.29	-4.07

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	34.12	63.56	33.32	1.95	27.98	49.33
Free Cash Flow Growth	-17.36%	90.74%	1610.52%	-93.04%	-43.27%	26.88%
Free Cash Flow Margin	4.52%	9.69%	5.86%	0.34%	4.54%	9.11%
Free Cash Flow Per Share	1.45	2.69	1.42	0.09	1.22	2.15
Levered Free Cash Flow	16.11	35.91	42.39	-1.85	24.33	45.57
Unlevered Free Cash Flow	22.13	42.99	51.22	7.36	30.88	52.08

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	14	14	18.94	18.18	11.66	12.31
Cash Income Tax Paid	7.72	7.72	13.6	14.51	7.03	9.77
Change in Working Capital	-60.64	-13.15	-1.44	-46.69	-22.45	-5.35

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Nov 3, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 13, 2026

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