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Side-by-side financial comparison of Leslie's, Inc. (LESL) 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 $147.1M, roughly 1.3× Leslie's, Inc.). DOUGLAS DYNAMICS, INC runs the higher net margin — 7.0% vs -56.4%, a 63.3% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs -16.0%). DOUGLAS DYNAMICS, INC produced more free cash flow last quarter ($92.8M vs $-85.5M). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs -11.7%).
Leslie's, Inc., operating as Leslie's Swimming Pool Supplies, is the largest retailer of swimming pool supplies and related products. The company is headquartered in Phoenix, Arizona, and has a particularly strong retail presence in Arizona, California, Florida, Georgia and Texas.
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...
LESL vs PLOW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $147.1M | $184.5M |
| Net Profit | $-83.0M | $12.8M |
| Gross Margin | 18.4% | 26.1% |
| Operating Margin | -46.7% | 10.5% |
| Net Margin | -56.4% | 7.0% |
| Revenue YoY | -16.0% | 28.6% |
| Net Profit YoY | -86.2% | 62.3% |
| EPS (diluted) | $-8.92 | $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.
| Q1 26 | $147.1M | — | ||
| Q4 25 | $389.2M | $184.5M | ||
| Q3 25 | — | $162.1M | ||
| Q2 25 | $500.3M | $194.3M | ||
| Q1 25 | $177.1M | $115.1M | ||
| Q4 24 | $175.2M | $143.5M | ||
| Q3 24 | $397.9M | $129.4M | ||
| Q2 24 | $569.6M | $199.9M |
| Q1 26 | $-83.0M | — | ||
| Q4 25 | $-162.8M | $12.8M | ||
| Q3 25 | — | $8.0M | ||
| Q2 25 | $21.7M | $26.0M | ||
| Q1 25 | $-51.3M | $148.0K | ||
| Q4 24 | $-44.6M | $7.9M | ||
| Q3 24 | $-9.9M | $32.3M | ||
| Q2 24 | $60.6M | $24.3M |
| Q1 26 | 18.4% | — | ||
| Q4 25 | 38.6% | 26.1% | ||
| Q3 25 | — | 23.5% | ||
| Q2 25 | 39.6% | 31.0% | ||
| Q1 25 | 24.8% | 24.5% | ||
| Q4 24 | 27.2% | 24.9% | ||
| Q3 24 | 36.0% | 23.9% | ||
| Q2 24 | 40.2% | 30.7% |
| Q1 26 | -46.7% | — | ||
| Q4 25 | -38.6% | 10.5% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | 13.7% | 19.0% | ||
| Q1 25 | -27.3% | 2.8% | ||
| Q4 24 | -22.7% | 9.0% | ||
| Q3 24 | 6.6% | 35.4% | ||
| Q2 24 | 17.2% | 18.2% |
| Q1 26 | -56.4% | — | ||
| Q4 25 | -41.8% | 7.0% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | 4.3% | 13.4% | ||
| Q1 25 | -29.0% | 0.1% | ||
| Q4 24 | -25.4% | 5.5% | ||
| Q3 24 | -2.5% | 24.9% | ||
| Q2 24 | 10.6% | 12.2% |
| Q1 26 | $-8.92 | — | ||
| Q4 25 | $-20.59 | $0.54 | ||
| Q3 25 | — | $0.33 | ||
| Q2 25 | $0.12 | $1.09 | ||
| Q1 25 | $-0.28 | $0.00 | ||
| Q4 24 | $-4.82 | $0.35 | ||
| Q3 24 | $-2.46 | $1.36 | ||
| Q2 24 | $0.33 | $1.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.6M | — |
| Total DebtLower is stronger | $781.6M | $144.0M |
| Stockholders' EquityBook value | $-489.9M | $281.4M |
| Total Assets | $649.4M | $626.7M |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.6M | — | ||
| Q4 25 | $64.3M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $42.7M | — | ||
| Q1 25 | $17.3M | — | ||
| Q4 24 | $11.6M | — | ||
| Q3 24 | $108.5M | — | ||
| Q2 24 | $74.4M | — |
| Q1 26 | $781.6M | — | ||
| Q4 25 | $756.6M | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | $776.6M | — | ||
| Q1 25 | $858.1M | — | ||
| Q4 24 | $796.6M | $147.5M | ||
| Q3 24 | $783.7M | — | ||
| Q2 24 | $783.7M | — |
| Q1 26 | $-489.9M | — | ||
| Q4 25 | $-408.0M | $281.4M | ||
| Q3 25 | — | $275.3M | ||
| Q2 25 | $-246.2M | $273.3M | ||
| Q1 25 | $-269.5M | $258.9M | ||
| Q4 24 | $-220.0M | $264.2M | ||
| Q3 24 | $-177.1M | $260.8M | ||
| Q2 24 | $-168.2M | $236.7M |
| Q1 26 | $649.4M | — | ||
| Q4 25 | $741.5M | $626.7M | ||
| Q3 25 | — | $694.9M | ||
| Q2 25 | $989.5M | $671.5M | ||
| Q1 25 | $1.0B | $621.0M | ||
| Q4 24 | $967.0M | $590.0M | ||
| Q3 24 | $1.1B | $665.6M | ||
| Q2 24 | $1.1B | $617.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | — | ||
| Q2 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 | $-81.1M | $95.9M |
| Free Cash FlowOCF − Capex | $-85.5M | $92.8M |
| FCF MarginFCF / Revenue | -58.1% | 50.3% |
| Capex IntensityCapex / Revenue | 2.9% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 7.47× |
| TTM Free Cash FlowTrailing 4 quarters | $7.6M | $63.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-81.1M | — | ||
| Q4 25 | $48.2M | $95.9M | ||
| Q3 25 | — | $-8.5M | ||
| Q2 25 | $114.9M | $-11.4M | ||
| Q1 25 | $-49.2M | $-1.3M | ||
| Q4 24 | $-105.1M | $74.4M | ||
| Q3 24 | $47.1M | $-14.2M | ||
| Q2 24 | $175.5M | $2.5M |
| Q1 26 | $-85.5M | — | ||
| Q4 25 | $41.8M | $92.8M | ||
| Q3 25 | — | $-11.4M | ||
| Q2 25 | $107.1M | $-14.3M | ||
| Q1 25 | $-55.8M | $-3.5M | ||
| Q4 24 | $-109.8M | $70.2M | ||
| Q3 24 | $34.1M | $-15.2M | ||
| Q2 24 | $165.2M | $836.0K |
| Q1 26 | -58.1% | — | ||
| Q4 25 | 10.7% | 50.3% | ||
| Q3 25 | — | -7.1% | ||
| Q2 25 | 21.4% | -7.4% | ||
| Q1 25 | -31.5% | -3.0% | ||
| Q4 24 | -62.6% | 48.9% | ||
| Q3 24 | 8.6% | -11.8% | ||
| Q2 24 | 29.0% | 0.4% |
| Q1 26 | 2.9% | — | ||
| Q4 25 | 1.7% | 1.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | 1.6% | 1.5% | ||
| Q1 25 | 3.7% | 1.9% | ||
| Q4 24 | 2.7% | 2.9% | ||
| Q3 24 | 3.2% | 0.8% | ||
| Q2 24 | 1.8% | 0.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.47× | ||
| Q3 25 | — | -1.07× | ||
| Q2 25 | 5.29× | -0.44× | ||
| Q1 25 | — | -9.03× | ||
| Q4 24 | — | 9.41× | ||
| Q3 24 | — | -0.44× | ||
| Q2 24 | 2.89× | 0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LESL
Segment breakdown not available.
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
