Douglas Dynamics, Inc balance sheet

At the end of fiscal 2025, Douglas Dynamics, Inc had total assets of $627m and shareholders' equity of $281m. It held $8.3m in cash against $149m of debt: net debt of $141m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Douglas Dynamics, Inc: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	69	20	39	24	20	19	37	19	37	28	36	41	37	21	24	5	8	2
Receivables	—	37	34	25	42	61	68	79	79	81	88	83	71	87	84	87	98	157
Inventory	—	23	24	30	28	48	52	71	72	82	78	79	104	137	140	137	150	175
Total current assets	—	89	103	90	98	143	169	176	198	199	212	217	220	253	262	238	266	342
Goodwill	—	107	107	107	113	161	161	238	241	241	241	113	113	113	113	113	117	117
Total assets	—	348	359	338	364	478	497	666	685	676	706	579	572	597	593	590	627	726
Accounts payable	—	3	5	5	8	10	15	17	16	19	16	16	27	49	31	32	39	39
Total current liabilities	—	16	33	17	36	46	42	51	81	79	78	66	82	100	119	70	96	158
Short-term debt	—	1	11	1	1	2	2	3	33	33	22	2	11	11	7	0	7	7
Long-term debt	—	120	112	111	110	186	183	307	275	243	222	237	—	208	189	148	144	—
Total debt	0	121	123	112	124	188	184	310	308	276	244	238	220	208	236	148	149	201
Shareholders' equity	108	169	163	154	155	173	200	220	257	283	313	200	215	237	232	264	281	300
Net debt (negative = net cash)	−69	101	84	88	104	169	147	291	271	248	209	197	183	187	212	142	141	199
Shares outstanding	—	22m	22m	22m	22m	22m	22m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m	23m

US$ millions unless shown otherwise. Fiscal quarters.

Douglas Dynamics, Inc: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	153	87	69	141	173	98	68	157
Inventory	145	137	171	153	139	150	186	175
Total current assets	316	238	274	327	349	266	268	342
Goodwill	113	113	113	113	113	117	117	117
Total assets	666	590	621	671	695	627	630	726
Accounts payable	35	32	43	40	40	39	36	39
Total current liabilities	148	70	116	155	174	96	101	158
Short-term debt	0	0	7	7	7	7	7	7
Long-term debt	—	148	—	—	—	144	—	—
Total debt	0	148	7	7	7	151	7	7
Shareholders' equity	261	264	259	273	275	281	279	300
Shares outstanding	23m	23m	23m	23m	23m	23m	23m	23m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Douglas Dynamics, Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Douglas Dynamics, Inc.