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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and DOUGLAS DYNAMICS, INC (PLOW). Click either name above to swap in a different company.
DOUGLAS DYNAMICS, INC is the larger business by last-quarter revenue ($184.5M vs $159.9M, roughly 1.2× INSTEEL INDUSTRIES INC). DOUGLAS DYNAMICS, INC runs the higher net margin — 7.0% vs 4.7%, a 2.2% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs 23.3%). DOUGLAS DYNAMICS, INC produced more free cash flow last quarter ($92.8M vs $-2.2M). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs 12.0%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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...
IIIN vs PLOW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $184.5M |
| Net Profit | $7.6M | $12.8M |
| Gross Margin | 11.3% | 26.1% |
| Operating Margin | 6.0% | 10.5% |
| Net Margin | 4.7% | 7.0% |
| Revenue YoY | 23.3% | 28.6% |
| Net Profit YoY | 602.4% | 62.3% |
| EPS (diluted) | $0.39 | $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 | $159.9M | $184.5M | ||
| Q3 25 | $177.4M | $162.1M | ||
| Q2 25 | $179.9M | $194.3M | ||
| Q1 25 | $160.7M | $115.1M | ||
| Q4 24 | $129.7M | $143.5M | ||
| Q3 24 | $134.3M | $129.4M | ||
| Q2 24 | $145.8M | $199.9M | ||
| Q1 24 | $127.4M | $95.7M |
| Q4 25 | $7.6M | $12.8M | ||
| Q3 25 | $14.6M | $8.0M | ||
| Q2 25 | $15.2M | $26.0M | ||
| Q1 25 | $10.2M | $148.0K | ||
| Q4 24 | $1.1M | $7.9M | ||
| Q3 24 | $4.7M | $32.3M | ||
| Q2 24 | $6.6M | $24.3M | ||
| Q1 24 | $6.9M | $-8.4M |
| Q4 25 | 11.3% | 26.1% | ||
| Q3 25 | 16.1% | 23.5% | ||
| Q2 25 | 17.1% | 31.0% | ||
| Q1 25 | 15.3% | 24.5% | ||
| Q4 24 | 7.3% | 24.9% | ||
| Q3 24 | 9.1% | 23.9% | ||
| Q2 24 | 10.6% | 30.7% | ||
| Q1 24 | 12.3% | 19.8% |
| Q4 25 | 6.0% | 10.5% | ||
| Q3 25 | 10.8% | 8.7% | ||
| Q2 25 | 11.0% | 19.0% | ||
| Q1 25 | 8.3% | 2.8% | ||
| Q4 24 | 1.1% | 9.0% | ||
| Q3 24 | 4.5% | 35.4% | ||
| Q2 24 | 6.0% | 18.2% | ||
| Q1 24 | 7.0% | -6.7% |
| Q4 25 | 4.7% | 7.0% | ||
| Q3 25 | 8.2% | 4.9% | ||
| Q2 25 | 8.4% | 13.4% | ||
| Q1 25 | 6.4% | 0.1% | ||
| Q4 24 | 0.8% | 5.5% | ||
| Q3 24 | 3.5% | 24.9% | ||
| Q2 24 | 4.5% | 12.2% | ||
| Q1 24 | 5.4% | -8.7% |
| Q4 25 | $0.39 | $0.54 | ||
| Q3 25 | $0.74 | $0.33 | ||
| Q2 25 | $0.78 | $1.09 | ||
| Q1 25 | $0.52 | $0.00 | ||
| Q4 24 | $0.06 | $0.35 | ||
| Q3 24 | $0.24 | $1.36 | ||
| Q2 24 | $0.34 | $1.02 | ||
| Q1 24 | $0.35 | $-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 | $15.6M | — |
| Total DebtLower is stronger | — | $144.0M |
| Stockholders' EquityBook value | $358.8M | $281.4M |
| Total Assets | $456.1M | $626.7M |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | — | ||
| Q3 25 | $38.6M | — | ||
| Q2 25 | $53.7M | — | ||
| Q1 25 | $28.4M | — | ||
| Q4 24 | $36.0M | — | ||
| Q3 24 | $111.5M | — | ||
| Q2 24 | $97.7M | — | ||
| Q1 24 | $83.9M | — |
| Q4 25 | — | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $358.8M | $281.4M | ||
| Q3 25 | $371.5M | $275.3M | ||
| Q2 25 | $356.2M | $273.3M | ||
| Q1 25 | $341.4M | $258.9M | ||
| Q4 24 | $331.6M | $264.2M | ||
| Q3 24 | $350.9M | $260.8M | ||
| Q2 24 | $346.0M | $236.7M | ||
| Q1 24 | $340.6M | $217.2M |
| Q4 25 | $456.1M | $626.7M | ||
| Q3 25 | $462.6M | $694.9M | ||
| Q2 25 | $471.9M | $671.5M | ||
| Q1 25 | $421.9M | $621.0M | ||
| Q4 24 | $404.7M | $590.0M | ||
| Q3 24 | $422.6M | $665.6M | ||
| Q2 24 | $414.6M | $617.0M | ||
| Q1 24 | $397.2M | $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 | $-701.0K | $95.9M |
| Free Cash FlowOCF − Capex | $-2.2M | $92.8M |
| FCF MarginFCF / Revenue | -1.4% | 50.3% |
| Capex IntensityCapex / Revenue | 0.9% | 1.7% |
| Cash ConversionOCF / Net Profit | -0.09× | 7.47× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $63.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $95.9M | ||
| Q3 25 | $-17.0M | $-8.5M | ||
| Q2 25 | $28.5M | $-11.4M | ||
| Q1 25 | $-3.3M | $-1.3M | ||
| Q4 24 | $19.0M | $74.4M | ||
| Q3 24 | $16.2M | $-14.2M | ||
| Q2 24 | $18.8M | $2.5M | ||
| Q1 24 | $1.4M | $-21.6M |
| Q4 25 | $-2.2M | $92.8M | ||
| Q3 25 | $-18.7M | $-11.4M | ||
| Q2 25 | $26.9M | $-14.3M | ||
| Q1 25 | $-5.5M | $-3.5M | ||
| Q4 24 | $16.3M | $70.2M | ||
| Q3 24 | $14.5M | $-15.2M | ||
| Q2 24 | $15.5M | $836.0K | ||
| Q1 24 | $-580.0K | $-22.4M |
| Q4 25 | -1.4% | 50.3% | ||
| Q3 25 | -10.6% | -7.1% | ||
| Q2 25 | 15.0% | -7.4% | ||
| Q1 25 | -3.5% | -3.0% | ||
| Q4 24 | 12.6% | 48.9% | ||
| Q3 24 | 10.8% | -11.8% | ||
| Q2 24 | 10.7% | 0.4% | ||
| Q1 24 | -0.5% | -23.4% |
| Q4 25 | 0.9% | 1.7% | ||
| Q3 25 | 1.0% | 1.8% | ||
| Q2 25 | 0.9% | 1.5% | ||
| Q1 25 | 1.4% | 1.9% | ||
| Q4 24 | 2.1% | 2.9% | ||
| Q3 24 | 1.3% | 0.8% | ||
| Q2 24 | 2.2% | 0.8% | ||
| Q1 24 | 1.5% | 0.8% |
| Q4 25 | -0.09× | 7.47× | ||
| Q3 25 | -1.17× | -1.07× | ||
| Q2 25 | 1.88× | -0.44× | ||
| Q1 25 | -0.32× | -9.03× | ||
| Q4 24 | 17.56× | 9.41× | ||
| Q3 24 | 3.48× | -0.44× | ||
| Q2 24 | 2.86× | 0.10× | ||
| Q1 24 | 0.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
