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Side-by-side financial comparison of ECARX Holdings Inc. (ECX) and DOUGLAS DYNAMICS, INC (PLOW). Click either name above to swap in a different company.
ECARX Holdings Inc. is the larger business by last-quarter revenue ($323.3M vs $184.5M, roughly 1.8× DOUGLAS DYNAMICS, INC). DOUGLAS DYNAMICS, INC runs the higher net margin — 7.0% vs -21.4%, a 28.3% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs 6.5%). DOUGLAS DYNAMICS, INC produced more free cash flow last quarter ($92.8M vs $-86.5M).
ECARX Holdings Inc. is a global mobility technology provider specializing in integrated smart vehicle solutions, including in-vehicle infotainment systems, advanced driver assistance technologies, and connected car cloud services. It primarily partners with automotive manufacturers across the world, with a strong operational presence in the Chinese and European markets.
General Dynamics Corporation (GD) is an American industrial and technology company based in Reston, Virginia. It is primarily a developer and producer of advanced military equipment of a wide variety, such as nuclear submarines, main battle tanks, and armoured fighting vehicles. It is also the manufacturer of the civilian aviation Gulfstream business jets and a provider of information technology services. The company is the 3rd largest of the top 100 contractors of the U.S. federal government...
ECX vs PLOW — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $323.3M | $184.5M |
| Net Profit | $-69.1M | $12.8M |
| Gross Margin | 15.5% | 26.1% |
| Operating Margin | -20.2% | 10.5% |
| Net Margin | -21.4% | 7.0% |
| Revenue YoY | 6.5% | 28.6% |
| Net Profit YoY | 12.8% | 62.3% |
| EPS (diluted) | $-0.20 | $0.54 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $184.5M | ||
| Q3 25 | — | $162.1M | ||
| Q2 25 | $323.3M | $194.3M | ||
| Q1 25 | — | $115.1M | ||
| Q4 24 | — | $143.5M | ||
| Q3 24 | — | $129.4M | ||
| Q2 24 | $303.5M | $199.9M | ||
| Q1 24 | — | $95.7M |
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $8.0M | ||
| Q2 25 | $-69.1M | $26.0M | ||
| Q1 25 | — | $148.0K | ||
| Q4 24 | — | $7.9M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | $-79.2M | $24.3M | ||
| Q1 24 | — | $-8.4M |
| Q4 25 | — | 26.1% | ||
| Q3 25 | — | 23.5% | ||
| Q2 25 | 15.5% | 31.0% | ||
| Q1 25 | — | 24.5% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | 22.6% | 30.7% | ||
| Q1 24 | — | 19.8% |
| Q4 25 | — | 10.5% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | -20.2% | 19.0% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | -22.2% | 18.2% | ||
| Q1 24 | — | -6.7% |
| Q4 25 | — | 7.0% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | -21.4% | 13.4% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | — | 24.9% | ||
| Q2 24 | -26.1% | 12.2% | ||
| Q1 24 | — | -8.7% |
| Q4 25 | — | $0.54 | ||
| Q3 25 | — | $0.33 | ||
| Q2 25 | $-0.20 | $1.09 | ||
| Q1 25 | — | $0.00 | ||
| Q4 24 | — | $0.35 | ||
| Q3 24 | — | $1.36 | ||
| Q2 24 | $-0.23 | $1.02 | ||
| Q1 24 | — | $-0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $86.2M | — |
| Total DebtLower is stronger | — | $144.0M |
| Stockholders' EquityBook value | $-293.7M | $281.4M |
| Total Assets | $494.9M | $626.7M |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $86.2M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $108.4M | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $281.4M | ||
| Q3 25 | — | $275.3M | ||
| Q2 25 | $-293.7M | $273.3M | ||
| Q1 25 | — | $258.9M | ||
| Q4 24 | — | $264.2M | ||
| Q3 24 | — | $260.8M | ||
| Q2 24 | $-198.5M | $236.7M | ||
| Q1 24 | — | $217.2M |
| Q4 25 | — | $626.7M | ||
| Q3 25 | — | $694.9M | ||
| Q2 25 | $494.9M | $671.5M | ||
| Q1 25 | — | $621.0M | ||
| Q4 24 | — | $590.0M | ||
| Q3 24 | — | $665.6M | ||
| Q2 24 | $555.0M | $617.0M | ||
| Q1 24 | — | $577.1M |
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-82.0M | $95.9M |
| Free Cash FlowOCF − Capex | $-86.5M | $92.8M |
| FCF MarginFCF / Revenue | -26.7% | 50.3% |
| Capex IntensityCapex / Revenue | 1.4% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 7.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $63.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $95.9M | ||
| Q3 25 | — | $-8.5M | ||
| Q2 25 | $-82.0M | $-11.4M | ||
| Q1 25 | — | $-1.3M | ||
| Q4 24 | — | $74.4M | ||
| Q3 24 | — | $-14.2M | ||
| Q2 24 | $-57.1M | $2.5M | ||
| Q1 24 | — | $-21.6M |
| Q4 25 | — | $92.8M | ||
| Q3 25 | — | $-11.4M | ||
| Q2 25 | $-86.5M | $-14.3M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $70.2M | ||
| Q3 24 | — | $-15.2M | ||
| Q2 24 | $-64.9M | $836.0K | ||
| Q1 24 | — | $-22.4M |
| Q4 25 | — | 50.3% | ||
| Q3 25 | — | -7.1% | ||
| Q2 25 | -26.7% | -7.4% | ||
| Q1 25 | — | -3.0% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | — | -11.8% | ||
| Q2 24 | -21.4% | 0.4% | ||
| Q1 24 | — | -23.4% |
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | 1.4% | 1.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | 2.6% | 0.8% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | — | 7.47× | ||
| Q3 25 | — | -1.07× | ||
| Q2 25 | — | -0.44× | ||
| Q1 25 | — | -9.03× | ||
| Q4 24 | — | 9.41× | ||
| Q3 24 | — | -0.44× | ||
| Q2 24 | — | 0.10× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ECX
Segment breakdown not available.
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
