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PLOW 
Douglas Dynamics Inc (PLOW)
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Upturn Advisory Summary
12/05/2025: PLOW (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
2 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $38.75
1 Year Target Price $38.75
| 1 | Strong Buy |
| 0 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -19.29% | Avg. Invested days 32 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/05/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 732.93M USD | Price to earnings Ratio 18.28 | 1Y Target Price 38.75 |
Price to earnings Ratio 18.28 | 1Y Target Price 38.75 | ||
Volume (30-day avg) 2 | Beta 1.29 | 52 Weeks Range 20.89 - 33.94 | Updated Date 12/7/2025 |
52 Weeks Range 20.89 - 33.94 | Updated Date 12/7/2025 | ||
Dividends yield (FY) 3.65% | Basic EPS (TTM) 1.74 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 6.82% | Operating Margin (TTM) 8.69% |
Management Effectiveness
Return on Assets (TTM) 6.18% | Return on Equity (TTM) 15.66% |
Valuation
Trailing PE 18.28 | Forward PE 17.01 | Enterprise Value 1017868329 | Price to Sales(TTM) 1.19 |
Enterprise Value 1017868329 | Price to Sales(TTM) 1.19 | ||
Enterprise Value to Revenue 1.65 | Enterprise Value to EBITDA 12.32 | Shares Outstanding 23040878 | Shares Floating 22369697 |
Shares Outstanding 23040878 | Shares Floating 22369697 | ||
Percent Insiders 3.12 | Percent Institutions 95.12 |
Upturn AI SWOT
Douglas Dynamics Inc
Company Overview
History and Background
Douglas Dynamics Inc. was founded in 1935 and has evolved into a leading manufacturer of "upselling" products and accessories for the light truck and heavy-duty truck markets. The company has grown through both organic expansion and strategic acquisitions, solidifying its position in the aftermarket vehicle accessory industry.
Core Business Areas
- Work Truck Attachments: This segment is primarily focused on designing, manufacturing, and selling snowplows, salt spreaders, and other attachments for work trucks. These products are essential for municipalities, contractors, and individuals involved in snow and ice management. Major brands include Western, Fisher, and SnowEx.
- Powersports Attachments: This segment designs, manufactures, and sells a variety of attachments and accessories for ATVs and UTVs. Products include plows, winches, and cargo accessories used for recreation, hunting, and light work. The primary brand in this segment is SaltDogg.
- Aftermarket Truck Accessories: This segment includes a broad range of accessories for light trucks and SUVs, sold through both wholesale and retail channels. Products include running boards, bed liners, tonneau covers, and other customization and utility accessories. Key brands include Westin, LUND, and TonnoPro.
Leadership and Structure
Douglas Dynamics operates under a divisional structure, with leadership teams for each of its core business areas. The executive leadership team guides the overall strategy and operations of the company.
Top Products and Market Share
Key Offerings
- Snowplows and Salt Spreaders: These are flagship products within the Work Truck Attachments segment. Douglas Dynamics holds a significant market share in the professional snow and ice management equipment sector. Competitors include BOSS Snowplow, Meyer Products, and Arctic Snow Plow.
- Running Boards and Nerf Bars: These are popular accessories within the Aftermarket Truck Accessories segment, enhancing vehicle aesthetics and providing easier entry/exit. Douglas Dynamics is a leading provider in this category. Competitors include Westin Automotive (which they own), Putco, and DeeZee.
- ATV/UTV Plows: These attachments are designed for recreational and utility vehicles, expanding their functionality for light snow removal and property maintenance. Competitors include Kolpin, Cycle Country, and Warn.
Market Dynamics
Industry Overview
Douglas Dynamics operates within the automotive aftermarket accessories and vocational vehicle equipment industries. These industries are influenced by factors such as vehicle sales, construction activity, weather patterns (for snow and ice management), and consumer discretionary spending. The demand for light truck and heavy-duty truck accessories is generally stable, with growth tied to new vehicle sales and the increasing trend of vehicle customization and utility enhancement.
Positioning
Douglas Dynamics is a leading player in its chosen markets, particularly in snow and ice management equipment for professional use and a significant provider of aftermarket truck accessories. Its competitive advantages stem from strong brand recognition, a broad product portfolio, extensive distribution networks, and a history of successful acquisitions that have expanded its market reach and product offerings.
Total Addressable Market (TAM)
The TAM for light truck accessories, vocational equipment (like snowplows and spreaders), and powersports accessories is substantial, estimated to be in the billions of dollars globally. Douglas Dynamics is well-positioned within its core segments, holding leading market shares in specific niches like professional snowplows and a significant presence in the broader aftermarket accessory space.
Upturn SWOT Analysis
Strengths
- Strong brand portfolio (Western, Fisher, BOSS, LUND, Westin)
- Diversified revenue streams across multiple segments
- Extensive distribution and dealer network
- Proven track record of successful acquisitions
- Leadership position in key product categories (e.g., snowplows)
- Vertical integration in some manufacturing processes
Weaknesses
- Seasonality of the snow and ice management business
- Dependence on new vehicle sales for aftermarket accessory growth
- Potential integration challenges with acquired companies
- Sensitivity to economic downturns affecting consumer spending
Opportunities
- Continued consolidation within the aftermarket industry through acquisitions
- Expansion into new geographic markets
- Development of new product lines and technologies (e.g., smart accessories)
- Growth in the powersports segment
- Leveraging e-commerce channels for increased sales
Threats
- Intensifying competition
- Rising raw material costs
- Changes in consumer preferences and vehicle trends
- Economic recessions impacting discretionary spending
- Supply chain disruptions
- Increased regulatory requirements
Competitors and Market Share
Key Competitors
- BOSS Snowplow (part of The Toro Company, TORO)
- Meyer Products LLC
- Arctic Snow Plow (part of Snow Dogg)
- Westin Automotive (owned by Douglas Dynamics)
- LUND International (owned by Douglas Dynamics)
- Putco Inc.
- DeeZee Inc.
Competitive Landscape
Douglas Dynamics enjoys a strong competitive position due to its established brands, extensive distribution network, and a diversified product offering that mitigates risks associated with any single market segment. Its ability to acquire and integrate competitors has been a key driver of its market share growth. However, it faces significant competition from established players and smaller, specialized manufacturers.
Major Acquisitions
Westin Automotive
- Year: 2017
- Acquisition Price (USD millions): 463
- Strategic Rationale: Acquisition of a leading brand in aftermarket truck accessories, significantly expanding Douglas Dynamics' product portfolio and market reach in this segment.
LUND International
- Year: 2021
- Acquisition Price (USD millions): 577
- Strategic Rationale: Further strengthened Douglas Dynamics' position in the aftermarket truck accessory market by adding LUND's complementary product lines and brands, creating significant cross-selling opportunities and operational synergies.
Growth Trajectory and Initiatives
Historical Growth: Douglas Dynamics has experienced significant historical growth, largely propelled by its strategic acquisition strategy and its strong positioning in the work truck attachment and aftermarket accessory markets. The company has successfully integrated numerous businesses, expanding its product portfolio and market reach.
Future Projections: Analyst projections for Douglas Dynamics generally indicate continued revenue growth, driven by ongoing integration of acquired businesses, expansion of existing product lines, and potential new product introductions. Profitability is expected to keep pace with revenue growth, with a focus on operational efficiency and margin improvement.
Recent Initiatives: Recent initiatives likely include further strategic acquisitions to expand into complementary product categories or markets, investments in R&D for product innovation, and enhancements to its distribution and dealer network. The company also focuses on operational excellence and leveraging synergies from its acquired businesses.
Summary
Douglas Dynamics is a strong player in the specialized markets of work truck attachments and aftermarket truck accessories, bolstered by a robust portfolio of well-recognized brands and a consistent history of strategic acquisitions. Its diversified business model and extensive distribution network provide resilience. The company needs to remain vigilant against increasing competition and raw material cost fluctuations, while continuing to innovate and leverage its acquisition capabilities for sustained growth.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Douglas Dynamics Inc. Investor Relations
- Financial News Outlets (e.g., Wall Street Journal, Bloomberg)
- Industry Research Reports
- Company SEC Filings (10-K, 10-Q)
Disclaimers:
This analysis is based on publicly available information and is intended for informational purposes only. It does not constitute financial advice. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Douglas Dynamics Inc
Exchange NYSE | Headquaters Milwaukee, WI, United States | ||
IPO Launch date 2010-05-05 | President, CEO & Director Mr. Mark Van Genderen | ||
Sector Consumer Cyclical | Industry Auto Parts | Full time employees 1673 | Website https://www.douglasdynamics.com |
Full time employees 1673 | Website https://www.douglasdynamics.com | ||
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. The Work Truck Solutions segment primarily manufactures municipal snow and ice control products; provides truck and vehicle upfits where it attaches component pieces of equipment, truck bodies, racking, and storage solutions to a vehicle chassis for use by end users for work related purposes; and manufactures storage solutions for trucks and vans, and cable pulling equipment for trucks. This segment offers up-fit and storage solutions. It also provides customized turnkey solutions to governmental agencies, such as Departments of Transportation and municipalities. The company sells its products under the FISHER, SNOWEX, WESTERN, TURFEX, SWEEPEX, HENDERSON, BRINEXTREME, and DEJANA brands. It distributes its products primarily to professional snowplowers who are contracted to remove snow and ice from commercial and residential areas. Douglas Dynamics, Inc. was founded in 1946 and is headquartered in Milwaukee, Wisconsin.
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