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Side-by-side financial comparison of H2O AMERICA (HTO) and DOUGLAS DYNAMICS, INC (PLOW). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $184.5M, roughly 1.1× DOUGLAS DYNAMICS, INC). H2O AMERICA runs the higher net margin — 8.1% vs 7.0%, a 1.2% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs 1.5%). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs 15.3%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
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...
HTO vs PLOW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $184.5M |
| Net Profit | $16.2M | $12.8M |
| Gross Margin | — | 26.1% |
| Operating Margin | 16.6% | 10.5% |
| Net Margin | 8.1% | 7.0% |
| Revenue YoY | 1.5% | 28.6% |
| Net Profit YoY | -29.2% | 62.3% |
| EPS (diluted) | $0.45 | $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 | $199.4M | $184.5M | ||
| Q3 25 | $243.5M | $162.1M | ||
| Q2 25 | $197.8M | $194.3M | ||
| Q1 25 | $164.9M | $115.1M | ||
| Q4 24 | $196.5M | $143.5M | ||
| Q3 24 | $216.7M | $129.4M | ||
| Q2 24 | $173.1M | $199.9M | ||
| Q1 24 | $150.0M | $95.7M |
| Q4 25 | $16.2M | $12.8M | ||
| Q3 25 | $45.1M | $8.0M | ||
| Q2 25 | $24.7M | $26.0M | ||
| Q1 25 | $16.6M | $148.0K | ||
| Q4 24 | $22.9M | $7.9M | ||
| Q3 24 | $38.7M | $32.3M | ||
| Q2 24 | $20.7M | $24.3M | ||
| Q1 24 | $11.7M | $-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 | 16.6% | 10.5% | ||
| Q3 25 | 26.5% | 8.7% | ||
| Q2 25 | 22.2% | 19.0% | ||
| Q1 25 | 21.8% | 2.8% | ||
| Q4 24 | 22.2% | 9.0% | ||
| Q3 24 | 26.9% | 35.4% | ||
| Q2 24 | 23.4% | 18.2% | ||
| Q1 24 | 18.6% | -6.7% |
| Q4 25 | 8.1% | 7.0% | ||
| Q3 25 | 18.5% | 4.9% | ||
| Q2 25 | 12.5% | 13.4% | ||
| Q1 25 | 10.0% | 0.1% | ||
| Q4 24 | 11.7% | 5.5% | ||
| Q3 24 | 17.8% | 24.9% | ||
| Q2 24 | 12.0% | 12.2% | ||
| Q1 24 | 7.8% | -8.7% |
| Q4 25 | $0.45 | $0.54 | ||
| Q3 25 | $1.27 | $0.33 | ||
| Q2 25 | $0.71 | $1.09 | ||
| Q1 25 | $0.49 | $0.00 | ||
| Q4 24 | $0.70 | $0.35 | ||
| Q3 24 | $1.17 | $1.36 | ||
| Q2 24 | $0.64 | $1.02 | ||
| Q1 24 | $0.36 | $-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 | $20.7M | — |
| Total DebtLower is stronger | $1.9B | $144.0M |
| Stockholders' EquityBook value | $1.5B | $281.4M |
| Total Assets | $5.1B | $626.7M |
| Debt / EquityLower = less leverage | 1.23× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | — | ||
| Q3 25 | $11.3M | — | ||
| Q2 25 | $19.8M | — | ||
| Q1 25 | $23.7M | — | ||
| Q4 24 | $11.1M | — | ||
| Q3 24 | $4.0M | — | ||
| Q2 24 | $22.8M | — | ||
| Q1 24 | $4.5M | — |
| Q4 25 | $1.9B | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $281.4M | ||
| Q3 25 | $1.5B | $275.3M | ||
| Q2 25 | $1.5B | $273.3M | ||
| Q1 25 | $1.4B | $258.9M | ||
| Q4 24 | $1.4B | $264.2M | ||
| Q3 24 | $1.3B | $260.8M | ||
| Q2 24 | $1.3B | $236.7M | ||
| Q1 24 | $1.2B | $217.2M |
| Q4 25 | $5.1B | $626.7M | ||
| Q3 25 | $5.0B | $694.9M | ||
| Q2 25 | $4.8B | $671.5M | ||
| Q1 25 | $4.7B | $621.0M | ||
| Q4 24 | $4.7B | $590.0M | ||
| Q3 24 | $4.6B | $665.6M | ||
| Q2 24 | $4.4B | $617.0M | ||
| Q1 24 | $4.4B | $577.1M |
| Q4 25 | 1.23× | 0.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | 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 | $63.5M | $95.9M |
| Free Cash FlowOCF − Capex | — | $92.8M |
| FCF MarginFCF / Revenue | — | 50.3% |
| Capex IntensityCapex / Revenue | — | 1.7% |
| Cash ConversionOCF / Net Profit | 3.92× | 7.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $63.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $95.9M | ||
| Q3 25 | $77.3M | $-8.5M | ||
| Q2 25 | $60.8M | $-11.4M | ||
| Q1 25 | $43.2M | $-1.3M | ||
| Q4 24 | $41.5M | $74.4M | ||
| Q3 24 | $53.5M | $-14.2M | ||
| Q2 24 | $49.3M | $2.5M | ||
| Q1 24 | $51.2M | $-21.6M |
| Q4 25 | — | $92.8M | ||
| Q3 25 | — | $-11.4M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $70.2M | ||
| Q3 24 | — | $-15.2M | ||
| Q2 24 | — | $836.0K | ||
| Q1 24 | — | $-22.4M |
| Q4 25 | — | 50.3% | ||
| Q3 25 | — | -7.1% | ||
| Q2 25 | — | -7.4% | ||
| Q1 25 | — | -3.0% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | — | -11.8% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | -23.4% |
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | 3.92× | 7.47× | ||
| Q3 25 | 1.71× | -1.07× | ||
| Q2 25 | 2.47× | -0.44× | ||
| Q1 25 | 2.61× | -9.03× | ||
| Q4 24 | 1.81× | 9.41× | ||
| Q3 24 | 1.39× | -0.44× | ||
| Q2 24 | 2.38× | 0.10× | ||
| Q1 24 | 4.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
