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Side-by-side financial comparison of DOUGLAS DYNAMICS, INC (PLOW) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
DOUGLAS DYNAMICS, INC is the larger business by last-quarter revenue ($184.5M vs $97.9M, roughly 1.9× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 7.0%, a 21.5% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs 6.5%). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs 2.5%).
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...
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
PLOW vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $184.5M | $97.9M |
| Net Profit | $12.8M | $27.9M |
| Gross Margin | 26.1% | 98.6% |
| Operating Margin | 10.5% | 27.4% |
| Net Margin | 7.0% | 28.5% |
| Revenue YoY | 28.6% | 6.5% |
| Net Profit YoY | 62.3% | 7.1% |
| EPS (diluted) | $0.54 | $0.38 |
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 | $97.9M | ||
| Q3 25 | $162.1M | $96.2M | ||
| Q2 25 | $194.3M | $93.8M | ||
| Q1 25 | $115.1M | $97.7M | ||
| Q4 24 | $143.5M | $91.9M | ||
| Q3 24 | $129.4M | $90.7M | ||
| Q2 24 | $199.9M | $89.9M | ||
| Q1 24 | $95.7M | $93.2M |
| Q4 25 | $12.8M | $27.9M | ||
| Q3 25 | $8.0M | $29.3M | ||
| Q2 25 | $26.0M | $27.9M | ||
| Q1 25 | $148.0K | $29.4M | ||
| Q4 24 | $7.9M | $26.0M | ||
| Q3 24 | $32.3M | $19.3M | ||
| Q2 24 | $24.3M | $29.7M | ||
| Q1 24 | $-8.4M | $30.7M |
| Q4 25 | 26.1% | 98.6% | ||
| Q3 25 | 23.5% | 98.5% | ||
| Q2 25 | 31.0% | 99.1% | ||
| Q1 25 | 24.5% | 98.8% | ||
| Q4 24 | 24.9% | 98.8% | ||
| Q3 24 | 23.9% | 98.8% | ||
| Q2 24 | 30.7% | 98.8% | ||
| Q1 24 | 19.8% | 98.8% |
| Q4 25 | 10.5% | 27.4% | ||
| Q3 25 | 8.7% | 25.9% | ||
| Q2 25 | 19.0% | 25.5% | ||
| Q1 25 | 2.8% | 25.9% | ||
| Q4 24 | 9.0% | 24.6% | ||
| Q3 24 | 35.4% | 17.5% | ||
| Q2 24 | 18.2% | 26.7% | ||
| Q1 24 | -6.7% | 26.4% |
| Q4 25 | 7.0% | 28.5% | ||
| Q3 25 | 4.9% | 30.5% | ||
| Q2 25 | 13.4% | 29.8% | ||
| Q1 25 | 0.1% | 30.1% | ||
| Q4 24 | 5.5% | 28.3% | ||
| Q3 24 | 24.9% | 21.3% | ||
| Q2 24 | 12.2% | 33.0% | ||
| Q1 24 | -8.7% | 33.0% |
| Q4 25 | $0.54 | $0.38 | ||
| Q3 25 | $0.33 | $0.41 | ||
| Q2 25 | $1.09 | $0.39 | ||
| Q1 25 | $0.00 | $0.41 | ||
| Q4 24 | $0.35 | $0.36 | ||
| Q3 24 | $1.36 | $0.27 | ||
| Q2 24 | $1.02 | $0.42 | ||
| Q1 24 | $-0.37 | $0.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $21.7M |
| Total DebtLower is stronger | $144.0M | $4.6B |
| Stockholders' EquityBook value | $281.4M | $2.4B |
| Total Assets | $626.7M | $7.2B |
| Debt / EquityLower = less leverage | 0.51× | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $21.7M | ||
| Q3 25 | — | $12.1M | ||
| Q2 25 | — | $13.9M | ||
| Q1 25 | — | $17.3M | ||
| Q4 24 | — | $8.3M | ||
| Q3 24 | — | $15.6M | ||
| Q2 24 | — | $13.4M | ||
| Q1 24 | — | $11.3M |
| Q4 25 | $144.0M | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $147.5M | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $281.4M | $2.4B | ||
| Q3 25 | $275.3M | $2.4B | ||
| Q2 25 | $273.3M | $2.4B | ||
| Q1 25 | $258.9M | $2.4B | ||
| Q4 24 | $264.2M | $2.3B | ||
| Q3 24 | $260.8M | $2.3B | ||
| Q2 24 | $236.7M | $2.3B | ||
| Q1 24 | $217.2M | $2.3B |
| Q4 25 | $626.7M | $7.2B | ||
| Q3 25 | $694.9M | $7.1B | ||
| Q2 25 | $671.5M | $7.1B | ||
| Q1 25 | $621.0M | $6.9B | ||
| Q4 24 | $590.0M | $6.9B | ||
| Q3 24 | $665.6M | $6.8B | ||
| Q2 24 | $617.0M | $6.8B | ||
| Q1 24 | $577.1M | $6.7B |
| Q4 25 | 0.51× | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | 0.56× | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | $92.8M | — |
| FCF MarginFCF / Revenue | 50.3% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | 7.47× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $63.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.9M | $47.8M | ||
| Q3 25 | $-8.5M | $-1.4M | ||
| Q2 25 | $-11.4M | $28.0M | ||
| Q1 25 | $-1.3M | $8.9M | ||
| Q4 24 | $74.4M | $37.9M | ||
| Q3 24 | $-14.2M | $8.3M | ||
| Q2 24 | $2.5M | $24.8M | ||
| Q1 24 | $-21.6M | $-3.1M |
| 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 | 7.47× | 1.72× | ||
| Q3 25 | -1.07× | -0.05× | ||
| Q2 25 | -0.44× | 1.00× | ||
| Q1 25 | -9.03× | 0.30× | ||
| Q4 24 | 9.41× | 1.45× | ||
| Q3 24 | -0.44× | 0.43× | ||
| Q2 24 | 0.10× | 0.83× | ||
| Q1 24 | — | -0.10× |
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% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
