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Side-by-side financial comparison of HCI Group, Inc. (HCI) and DOUGLAS DYNAMICS, INC (PLOW). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $184.5M, roughly 1.3× DOUGLAS DYNAMICS, INC). HCI Group, Inc. runs the higher net margin — 39.7% vs 7.0%, a 32.7% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 28.6%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $92.8M). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs 9.2%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
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...
HCI vs PLOW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $184.5M |
| Net Profit | $97.7M | $12.8M |
| Gross Margin | — | 26.1% |
| Operating Margin | 58.5% | 10.5% |
| Net Margin | 39.7% | 7.0% |
| Revenue YoY | 52.1% | 28.6% |
| Net Profit YoY | 3679.2% | 62.3% |
| EPS (diluted) | $7.29 | $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 | $246.2M | $184.5M | ||
| Q3 25 | $216.3M | $162.1M | ||
| Q2 25 | $221.9M | $194.3M | ||
| Q1 25 | $216.4M | $115.1M | ||
| Q4 24 | $161.9M | $143.5M | ||
| Q3 24 | $175.3M | $129.4M | ||
| Q2 24 | $206.2M | $199.9M | ||
| Q1 24 | $206.6M | $95.7M |
| Q4 25 | $97.7M | $12.8M | ||
| Q3 25 | $65.5M | $8.0M | ||
| Q2 25 | $66.2M | $26.0M | ||
| Q1 25 | $69.7M | $148.0K | ||
| Q4 24 | $2.6M | $7.9M | ||
| Q3 24 | $5.7M | $32.3M | ||
| Q2 24 | $54.1M | $24.3M | ||
| Q1 24 | $47.6M | $-8.4M |
| Q4 25 | — | 26.1% | ||
| Q3 25 | — | 23.5% | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | 24.5% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 30.7% | ||
| Q1 24 | — | 19.8% |
| Q4 25 | 58.5% | 10.5% | ||
| Q3 25 | 41.9% | 8.7% | ||
| Q2 25 | 42.5% | 19.0% | ||
| Q1 25 | 46.4% | 2.8% | ||
| Q4 24 | 3.6% | 9.0% | ||
| Q3 24 | 8.0% | 35.4% | ||
| Q2 24 | 36.9% | 18.2% | ||
| Q1 24 | 37.5% | -6.7% |
| Q4 25 | 39.7% | 7.0% | ||
| Q3 25 | 30.3% | 4.9% | ||
| Q2 25 | 29.8% | 13.4% | ||
| Q1 25 | 32.2% | 0.1% | ||
| Q4 24 | 1.6% | 5.5% | ||
| Q3 24 | 3.2% | 24.9% | ||
| Q2 24 | 26.2% | 12.2% | ||
| Q1 24 | 23.0% | -8.7% |
| Q4 25 | $7.29 | $0.54 | ||
| Q3 25 | $4.90 | $0.33 | ||
| Q2 25 | $5.18 | $1.09 | ||
| Q1 25 | $5.35 | $0.00 | ||
| Q4 24 | $0.32 | $0.35 | ||
| Q3 24 | $0.52 | $1.36 | ||
| Q2 24 | $4.24 | $1.02 | ||
| Q1 24 | $3.81 | $-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 | $1.2B | — |
| Total DebtLower is stronger | — | $144.0M |
| Stockholders' EquityBook value | $1.0B | $281.4M |
| Total Assets | $2.5B | $626.7M |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | — | ||
| Q3 25 | $987.9M | — | ||
| Q2 25 | $947.2M | — | ||
| Q1 25 | $754.5M | — | ||
| Q4 24 | $532.5M | — | ||
| Q3 24 | $518.8M | — | ||
| Q2 24 | $445.8M | — | ||
| Q1 24 | $655.4M | — |
| Q4 25 | — | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.0B | $281.4M | ||
| Q3 25 | $821.8M | $275.3M | ||
| Q2 25 | $758.6M | $273.3M | ||
| Q1 25 | $522.7M | $258.9M | ||
| Q4 24 | $453.3M | $264.2M | ||
| Q3 24 | $455.3M | $260.8M | ||
| Q2 24 | $447.3M | $236.7M | ||
| Q1 24 | $395.7M | $217.2M |
| Q4 25 | $2.5B | $626.7M | ||
| Q3 25 | $2.3B | $694.9M | ||
| Q2 25 | $2.4B | $671.5M | ||
| Q1 25 | $2.3B | $621.0M | ||
| Q4 24 | $2.2B | $590.0M | ||
| Q3 24 | $2.0B | $665.6M | ||
| Q2 24 | $1.9B | $617.0M | ||
| Q1 24 | $1.8B | $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 | $444.4M | $95.9M |
| Free Cash FlowOCF − Capex | $440.8M | $92.8M |
| FCF MarginFCF / Revenue | 179.0% | 50.3% |
| Capex IntensityCapex / Revenue | 1.5% | 1.7% |
| Cash ConversionOCF / Net Profit | 4.55× | 7.47× |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $63.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $95.9M | ||
| Q3 25 | $26.7M | $-8.5M | ||
| Q2 25 | $145.0M | $-11.4M | ||
| Q1 25 | $162.0M | $-1.3M | ||
| Q4 24 | $331.8M | $74.4M | ||
| Q3 24 | $104.1M | $-14.2M | ||
| Q2 24 | $-29.0M | $2.5M | ||
| Q1 24 | $182.0M | $-21.6M |
| Q4 25 | $440.8M | $92.8M | ||
| Q3 25 | $25.9M | $-11.4M | ||
| Q2 25 | $144.5M | $-14.3M | ||
| Q1 25 | $160.3M | $-3.5M | ||
| Q4 24 | $327.8M | $70.2M | ||
| Q3 24 | $103.2M | $-15.2M | ||
| Q2 24 | $-30.1M | $836.0K | ||
| Q1 24 | $181.0M | $-22.4M |
| Q4 25 | 179.0% | 50.3% | ||
| Q3 25 | 12.0% | -7.1% | ||
| Q2 25 | 65.1% | -7.4% | ||
| Q1 25 | 74.1% | -3.0% | ||
| Q4 24 | 202.5% | 48.9% | ||
| Q3 24 | 58.9% | -11.8% | ||
| Q2 24 | -14.6% | 0.4% | ||
| Q1 24 | 87.6% | -23.4% |
| Q4 25 | 1.5% | 1.7% | ||
| Q3 25 | 0.4% | 1.8% | ||
| Q2 25 | 0.2% | 1.5% | ||
| Q1 25 | 0.8% | 1.9% | ||
| Q4 24 | 2.5% | 2.9% | ||
| Q3 24 | 0.5% | 0.8% | ||
| Q2 24 | 0.5% | 0.8% | ||
| Q1 24 | 0.5% | 0.8% |
| Q4 25 | 4.55× | 7.47× | ||
| Q3 25 | 0.41× | -1.07× | ||
| Q2 25 | 2.19× | -0.44× | ||
| Q1 25 | 2.32× | -9.03× | ||
| Q4 24 | 128.41× | 9.41× | ||
| Q3 24 | 18.33× | -0.44× | ||
| Q2 24 | -0.54× | 0.10× | ||
| Q1 24 | 3.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
