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Side-by-side financial comparison of NWPX Infrastructure, Inc. (NWPX) 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 $138.3M, roughly 1.3× NWPX Infrastructure, Inc.). NWPX Infrastructure, Inc. runs the higher net margin — 7.6% vs 7.0%, a 0.7% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs 19.1%). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs 3.3%).
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...
NWPX vs PLOW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $138.3M | $184.5M |
| Net Profit | $10.5M | $12.8M |
| Gross Margin | 19.3% | 26.1% |
| Operating Margin | 9.2% | 10.5% |
| Net Margin | 7.6% | 7.0% |
| Revenue YoY | 19.1% | 28.6% |
| Net Profit YoY | 165.7% | 62.3% |
| EPS (diluted) | $1.08 | $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 | $138.3M | — | ||
| Q4 25 | $125.6M | $184.5M | ||
| Q3 25 | $151.1M | $162.1M | ||
| Q2 25 | $133.2M | $194.3M | ||
| Q1 25 | $116.1M | $115.1M | ||
| Q4 24 | $119.6M | $143.5M | ||
| Q3 24 | $130.2M | $129.4M | ||
| Q2 24 | $129.5M | $199.9M |
| Q1 26 | $10.5M | — | ||
| Q4 25 | $8.9M | $12.8M | ||
| Q3 25 | $13.5M | $8.0M | ||
| Q2 25 | $9.1M | $26.0M | ||
| Q1 25 | $4.0M | $148.0K | ||
| Q4 24 | $10.1M | $7.9M | ||
| Q3 24 | $10.3M | $32.3M | ||
| Q2 24 | $8.6M | $24.3M |
| Q1 26 | 19.3% | — | ||
| Q4 25 | 21.3% | 26.1% | ||
| Q3 25 | 21.3% | 23.5% | ||
| Q2 25 | 19.0% | 31.0% | ||
| Q1 25 | 16.7% | 24.5% | ||
| Q4 24 | 18.8% | 24.9% | ||
| Q3 24 | 20.8% | 23.9% | ||
| Q2 24 | 19.9% | 30.7% |
| Q1 26 | 9.2% | — | ||
| Q4 25 | 10.4% | 10.5% | ||
| Q3 25 | 12.6% | 8.7% | ||
| Q2 25 | 9.9% | 19.0% | ||
| Q1 25 | 4.8% | 2.8% | ||
| Q4 24 | 8.8% | 9.0% | ||
| Q3 24 | 11.9% | 35.4% | ||
| Q2 24 | 10.5% | 18.2% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 7.1% | 7.0% | ||
| Q3 25 | 8.9% | 4.9% | ||
| Q2 25 | 6.8% | 13.4% | ||
| Q1 25 | 3.4% | 0.1% | ||
| Q4 24 | 8.4% | 5.5% | ||
| Q3 24 | 7.9% | 24.9% | ||
| Q2 24 | 6.7% | 12.2% |
| Q1 26 | $1.08 | — | ||
| Q4 25 | $0.88 | $0.54 | ||
| Q3 25 | $1.38 | $0.33 | ||
| Q2 25 | $0.91 | $1.09 | ||
| Q1 25 | $0.39 | $0.00 | ||
| Q4 24 | $1.00 | $0.35 | ||
| Q3 24 | $1.02 | $1.36 | ||
| Q2 24 | $0.86 | $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 | $14.3M | — |
| Total DebtLower is stronger | $10.7M | $144.0M |
| Stockholders' EquityBook value | $403.7M | $281.4M |
| Total Assets | $634.1M | $626.7M |
| Debt / EquityLower = less leverage | 0.03× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $14.3M | — | ||
| Q4 25 | $2.3M | — | ||
| Q3 25 | $2.7M | — | ||
| Q2 25 | $2.0M | — | ||
| Q1 25 | $5.3M | — | ||
| Q4 24 | $5.0M | — | ||
| Q3 24 | $5.7M | — | ||
| Q2 24 | $4.5M | — |
| Q1 26 | $10.7M | — | ||
| Q4 25 | — | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $403.7M | — | ||
| Q4 25 | $394.8M | $281.4M | ||
| Q3 25 | $386.4M | $275.3M | ||
| Q2 25 | $379.5M | $273.3M | ||
| Q1 25 | $378.5M | $258.9M | ||
| Q4 24 | $374.0M | $264.2M | ||
| Q3 24 | $362.4M | $260.8M | ||
| Q2 24 | $351.2M | $236.7M |
| Q1 26 | $634.1M | — | ||
| Q4 25 | $579.6M | $626.7M | ||
| Q3 25 | $605.2M | $694.9M | ||
| Q2 25 | $592.6M | $671.5M | ||
| Q1 25 | $582.2M | $621.0M | ||
| Q4 24 | $589.7M | $590.0M | ||
| Q3 24 | $617.2M | $665.6M | ||
| Q2 24 | $631.7M | $617.0M |
| Q1 26 | 0.03× | — | ||
| 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 | $29.3M | $95.9M |
| Free Cash FlowOCF − Capex | — | $92.8M |
| FCF MarginFCF / Revenue | — | 50.3% |
| Capex IntensityCapex / Revenue | — | 1.7% |
| Cash ConversionOCF / Net Profit | 2.78× | 7.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $63.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.3M | — | ||
| Q4 25 | $36.0M | $95.9M | ||
| Q3 25 | $21.0M | $-8.5M | ||
| Q2 25 | $5.4M | $-11.4M | ||
| Q1 25 | $4.8M | $-1.3M | ||
| Q4 24 | $36.1M | $74.4M | ||
| Q3 24 | $22.7M | $-14.2M | ||
| Q2 24 | $22.3M | $2.5M |
| Q1 26 | — | — | ||
| Q4 25 | $30.8M | $92.8M | ||
| Q3 25 | $13.2M | $-11.4M | ||
| Q2 25 | $1.9M | $-14.3M | ||
| Q1 25 | $1.2M | $-3.5M | ||
| Q4 24 | $31.9M | $70.2M | ||
| Q3 24 | $16.8M | $-15.2M | ||
| Q2 24 | $16.2M | $836.0K |
| Q1 26 | — | — | ||
| Q4 25 | 24.5% | 50.3% | ||
| Q3 25 | 8.7% | -7.1% | ||
| Q2 25 | 1.4% | -7.4% | ||
| Q1 25 | 1.0% | -3.0% | ||
| Q4 24 | 26.7% | 48.9% | ||
| Q3 24 | 12.9% | -11.8% | ||
| Q2 24 | 12.5% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | 1.7% | ||
| Q3 25 | 5.2% | 1.8% | ||
| Q2 25 | 2.6% | 1.5% | ||
| Q1 25 | 3.2% | 1.9% | ||
| Q4 24 | 3.5% | 2.9% | ||
| Q3 24 | 4.6% | 0.8% | ||
| Q2 24 | 4.7% | 0.8% |
| Q1 26 | 2.78× | — | ||
| Q4 25 | 4.06× | 7.47× | ||
| Q3 25 | 1.55× | -1.07× | ||
| Q2 25 | 0.60× | -0.44× | ||
| Q1 25 | 1.22× | -9.03× | ||
| Q4 24 | 3.58× | 9.41× | ||
| Q3 24 | 2.22× | -0.44× | ||
| Q2 24 | 2.58× | 0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NWPX
| Water Transmission Systems | $93.5M | 68% |
| Precast Infrastructure and Engineered Systems | $44.8M | 32% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
