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Side-by-side financial comparison of DOUGLAS DYNAMICS, INC (PLOW) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
DOUGLAS DYNAMICS, INC is the larger business by last-quarter revenue ($184.5M vs $152.8M, roughly 1.2× Riot Platforms, Inc.). DOUGLAS DYNAMICS, INC runs the higher net margin — 7.0% vs -452.0%, a 458.9% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs 7.2%). DOUGLAS DYNAMICS, INC produced more free cash flow last quarter ($92.8M vs $-774.3M). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs 38.8%).
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...
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
PLOW vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $184.5M | $152.8M |
| Net Profit | $12.8M | $-690.7M |
| Gross Margin | 26.1% | — |
| Operating Margin | 10.5% | -447.9% |
| Net Margin | 7.0% | -452.0% |
| Revenue YoY | 28.6% | 7.2% |
| Net Profit YoY | 62.3% | -606.3% |
| EPS (diluted) | $0.54 | $-1.89 |
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 | $184.5M | $152.8M | ||
| Q3 25 | $162.1M | $180.2M | ||
| Q2 25 | $194.3M | $153.0M | ||
| Q1 25 | $115.1M | $161.4M | ||
| Q4 24 | $143.5M | $142.6M | ||
| Q3 24 | $129.4M | $84.8M | ||
| Q2 24 | $199.9M | $70.0M | ||
| Q1 24 | $95.7M | $79.3M |
| Q4 25 | $12.8M | $-690.7M | ||
| Q3 25 | $8.0M | $104.5M | ||
| Q2 25 | $26.0M | $219.5M | ||
| Q1 25 | $148.0K | $-296.4M | ||
| Q4 24 | $7.9M | $136.4M | ||
| Q3 24 | $32.3M | $-154.4M | ||
| Q2 24 | $24.3M | $-84.4M | ||
| Q1 24 | $-8.4M | $211.8M |
| 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 | 10.5% | -447.9% | ||
| Q3 25 | 8.7% | 44.4% | ||
| Q2 25 | 19.0% | — | ||
| Q1 25 | 2.8% | -144.9% | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 35.4% | -143.3% | ||
| Q2 24 | 18.2% | -167.2% | ||
| Q1 24 | -6.7% | — |
| Q4 25 | 7.0% | -452.0% | ||
| Q3 25 | 4.9% | 58.0% | ||
| Q2 25 | 13.4% | 143.4% | ||
| Q1 25 | 0.1% | -183.6% | ||
| Q4 24 | 5.5% | 95.7% | ||
| Q3 24 | 24.9% | -182.1% | ||
| Q2 24 | 12.2% | -120.6% | ||
| Q1 24 | -8.7% | 267.1% |
| Q4 25 | $0.54 | $-1.89 | ||
| Q3 25 | $0.33 | $0.26 | ||
| Q2 25 | $1.09 | $0.58 | ||
| Q1 25 | $0.00 | $-0.90 | ||
| Q4 24 | $0.35 | $0.39 | ||
| Q3 24 | $1.36 | $-0.54 | ||
| Q2 24 | $1.02 | $-0.32 | ||
| Q1 24 | $-0.37 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $233.5M |
| Total DebtLower is stronger | $144.0M | $840.8M |
| Stockholders' EquityBook value | $281.4M | $2.9B |
| Total Assets | $626.7M | $3.9B |
| Debt / EquityLower = less leverage | 0.51× | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $233.5M | ||
| Q3 25 | — | $330.7M | ||
| Q2 25 | — | $255.4M | ||
| Q1 25 | — | $163.7M | ||
| Q4 24 | — | $277.9M | ||
| Q3 24 | — | $355.7M | ||
| Q2 24 | — | $481.2M | ||
| Q1 24 | — | $688.5M |
| Q4 25 | $144.0M | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | $147.5M | $584.6M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $281.4M | $2.9B | ||
| Q3 25 | $275.3M | $3.5B | ||
| Q2 25 | $273.3M | $3.3B | ||
| Q1 25 | $258.9M | $2.9B | ||
| Q4 24 | $264.2M | $3.1B | ||
| Q3 24 | $260.8M | $2.7B | ||
| Q2 24 | $236.7M | $2.6B | ||
| Q1 24 | $217.2M | $2.5B |
| Q4 25 | $626.7M | $3.9B | ||
| Q3 25 | $694.9M | $4.5B | ||
| Q2 25 | $671.5M | $4.3B | ||
| Q1 25 | $621.0M | $3.7B | ||
| Q4 24 | $590.0M | $3.9B | ||
| Q3 24 | $665.6M | $2.9B | ||
| Q2 24 | $617.0M | $2.7B | ||
| Q1 24 | $577.1M | $2.6B |
| Q4 25 | 0.51× | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 0.56× | 0.19× | ||
| Q3 24 | — | 0.00× | ||
| 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 | $95.9M | $-572.9M |
| Free Cash FlowOCF − Capex | $92.8M | $-774.3M |
| FCF MarginFCF / Revenue | 50.3% | -506.6% |
| Capex IntensityCapex / Revenue | 1.7% | 131.8% |
| Cash ConversionOCF / Net Profit | 7.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $63.6M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.9M | $-572.9M | ||
| Q3 25 | $-8.5M | $-114.0M | ||
| Q2 25 | $-11.4M | $-231.3M | ||
| Q1 25 | $-1.3M | $-122.1M | ||
| Q4 24 | $74.4M | $-255.1M | ||
| Q3 24 | $-14.2M | $-56.3M | ||
| Q2 24 | $2.5M | $-42.5M | ||
| Q1 24 | $-21.6M | $-57.9M |
| Q4 25 | $92.8M | $-774.3M | ||
| Q3 25 | $-11.4M | $-139.7M | ||
| Q2 25 | $-14.3M | $-291.7M | ||
| Q1 25 | $-3.5M | $-154.9M | ||
| Q4 24 | $70.2M | $-495.4M | ||
| Q3 24 | $-15.2M | $-127.6M | ||
| Q2 24 | $836.0K | $-96.1M | ||
| Q1 24 | $-22.4M | $-115.2M |
| Q4 25 | 50.3% | -506.6% | ||
| Q3 25 | -7.1% | -77.5% | ||
| Q2 25 | -7.4% | -190.7% | ||
| Q1 25 | -3.0% | -96.0% | ||
| Q4 24 | 48.9% | -347.5% | ||
| Q3 24 | -11.8% | -150.5% | ||
| Q2 24 | 0.4% | -137.2% | ||
| Q1 24 | -23.4% | -145.2% |
| Q4 25 | 1.7% | 131.8% | ||
| Q3 25 | 1.8% | 14.3% | ||
| Q2 25 | 1.5% | 39.5% | ||
| Q1 25 | 1.9% | 20.4% | ||
| Q4 24 | 2.9% | 168.6% | ||
| Q3 24 | 0.8% | 84.1% | ||
| Q2 24 | 0.8% | 76.5% | ||
| Q1 24 | 0.8% | 72.3% |
| Q4 25 | 7.47× | — | ||
| Q3 25 | -1.07× | -1.09× | ||
| Q2 25 | -0.44× | -1.05× | ||
| Q1 25 | -9.03× | — | ||
| Q4 24 | 9.41× | -1.87× | ||
| Q3 24 | -0.44× | — | ||
| Q2 24 | 0.10× | — | ||
| Q1 24 | — | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
