DOUGLAS DYNAMICS, INC
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $46.9M | $56.2M | $23.7M | $38.6M | $30.7M | $-86.6M | $49.2M | $43.9M |
| Depreciation & Amortization | $15.4M | $17.9M | $21.7M | $20.9M | $20.3M | $19.7M | $19.2M | $19.1M |
| Depreciation | $9.2M | $10.4M | $11.1M | $10.4M | $9.6M | $8.8M | $8.3M | $7.6M |
| Amortization | $6.2M | $7.5M | $10.5M | $10.5M | $10.7M | $10.9M | $11.0M | $11.5M |
| Stock-Based Compensation | $6.7M | $4.9M | $953.0K | $6.7M | $5.8M | $2.8M | $3.2M | $4.6M |
| Net Cash from Operating Activities | $74.7M | $41.1M | $12.5M | $40.0M | $60.5M | $53.4M | $77.3M | $58.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $10.8M | $7.8M | $9.8M | $12.4M | $11.9M | $14.7M | $11.5M | $9.7M |
| Business Acquisitions | $26.3M | $0 | $0 | — | — | — | — | — |
| Net Cash from Investing Activities | $-37.5M | $56.8M | $-10.5M | $-12.0M | $-11.2M | $-14.5M | $-11.5M | $-9.7M |
| Financing Activities | ||||||||
| Dividends Paid | $27.9M | $27.5M | $27.4M | $27.0M | $26.5M | $25.9M | $25.2M | $24.4M |
| Stock Repurchases | $6.0M | $0 | $0 | $6.0M | $0 | $0 | — | — |
| Net Cash from Financing Activities | $-34.1M | $-117.0M | $1.5M | $-44.3M | $-53.4M | $-33.5M | $-57.9M | $-57.5M |
| Net Change in Cash | $3.2M | $-19.0M | $3.5M | $-16.3M | $-4.1M | $5.4M | — | $-9.1M |
| Free Cash Flow | $63.9M | $33.4M | $2.7M | $27.6M | $48.7M | $38.7M | $65.8M | $48.5M |