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Side-by-side financial comparison of DOUGLAS DYNAMICS, INC (PLOW) and TREX CO INC (TREX). Click either name above to swap in a different company.
TREX CO INC is the larger business by last-quarter revenue ($343.4M vs $184.5M, roughly 1.9× DOUGLAS DYNAMICS, INC). TREX CO INC runs the higher net margin — 17.9% vs 7.0%, a 10.9% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs 1.0%). DOUGLAS DYNAMICS, INC produced more free cash flow last quarter ($92.8M vs $-143.4M). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs -4.5%).
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...
Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.
PLOW vs TREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $184.5M | $343.4M |
| Net Profit | $12.8M | $61.4M |
| Gross Margin | 26.1% | 40.5% |
| Operating Margin | 10.5% | 24.3% |
| Net Margin | 7.0% | 17.9% |
| Revenue YoY | 28.6% | 1.0% |
| Net Profit YoY | 62.3% | 1.6% |
| EPS (diluted) | $0.54 | $0.58 |
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 | — | $343.4M | ||
| Q4 25 | $184.5M | $161.1M | ||
| Q3 25 | $162.1M | $285.3M | ||
| Q2 25 | $194.3M | $387.8M | ||
| Q1 25 | $115.1M | $340.0M | ||
| Q4 24 | $143.5M | $167.6M | ||
| Q3 24 | $129.4M | $233.7M | ||
| Q2 24 | $199.9M | $376.5M |
| Q1 26 | — | $61.4M | ||
| Q4 25 | $12.8M | $2.3M | ||
| Q3 25 | $8.0M | $51.8M | ||
| Q2 25 | $26.0M | $75.9M | ||
| Q1 25 | $148.0K | $60.4M | ||
| Q4 24 | $7.9M | $9.8M | ||
| Q3 24 | $32.3M | $40.6M | ||
| Q2 24 | $24.3M | $87.0M |
| Q1 26 | — | 40.5% | ||
| Q4 25 | 26.1% | 30.2% | ||
| Q3 25 | 23.5% | 40.5% | ||
| Q2 25 | 31.0% | 40.8% | ||
| Q1 25 | 24.5% | 40.5% | ||
| Q4 24 | 24.9% | 32.7% | ||
| Q3 24 | 23.9% | 39.9% | ||
| Q2 24 | 30.7% | 44.7% |
| Q1 26 | — | 24.3% | ||
| Q4 25 | 10.5% | 2.2% | ||
| Q3 25 | 8.7% | 24.7% | ||
| Q2 25 | 19.0% | 26.4% | ||
| Q1 25 | 2.8% | 24.0% | ||
| Q4 24 | 9.0% | 9.2% | ||
| Q3 24 | 35.4% | 23.2% | ||
| Q2 24 | 18.2% | 31.1% |
| Q1 26 | — | 17.9% | ||
| Q4 25 | 7.0% | 1.4% | ||
| Q3 25 | 4.9% | 18.1% | ||
| Q2 25 | 13.4% | 19.6% | ||
| Q1 25 | 0.1% | 17.8% | ||
| Q4 24 | 5.5% | 5.8% | ||
| Q3 24 | 24.9% | 17.4% | ||
| Q2 24 | 12.2% | 23.1% |
| Q1 26 | — | $0.58 | ||
| Q4 25 | $0.54 | $0.03 | ||
| Q3 25 | $0.33 | $0.48 | ||
| Q2 25 | $1.09 | $0.71 | ||
| Q1 25 | $0.00 | $0.56 | ||
| Q4 24 | $0.35 | $0.10 | ||
| Q3 24 | $1.36 | $0.37 | ||
| Q2 24 | $1.02 | $0.80 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.5M |
| Total DebtLower is stronger | $144.0M | — |
| Stockholders' EquityBook value | $281.4M | $995.8M |
| Total Assets | $626.7M | $1.7B |
| Debt / EquityLower = less leverage | 0.51× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.5M | ||
| Q4 25 | — | $3.8M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | — | $5.5M | ||
| Q1 25 | — | $5.0M | ||
| Q4 24 | — | $1.3M | ||
| Q3 24 | — | $12.8M | ||
| Q2 24 | — | $1.2M |
| Q1 26 | — | — | ||
| Q4 25 | $144.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $147.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $995.8M | ||
| Q4 25 | $281.4M | $1.0B | ||
| Q3 25 | $275.3M | $1.0B | ||
| Q2 25 | $273.3M | $989.3M | ||
| Q1 25 | $258.9M | $910.1M | ||
| Q4 24 | $264.2M | $850.1M | ||
| Q3 24 | $260.8M | $887.9M | ||
| Q2 24 | $236.7M | $894.9M |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $626.7M | $1.5B | ||
| Q3 25 | $694.9M | $1.5B | ||
| Q2 25 | $671.5M | $1.5B | ||
| Q1 25 | $621.0M | $1.6B | ||
| Q4 24 | $590.0M | $1.3B | ||
| Q3 24 | $665.6M | $1.3B | ||
| Q2 24 | $617.0M | $1.3B |
| 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 | $95.9M | $-118.4M |
| Free Cash FlowOCF − Capex | $92.8M | $-143.4M |
| FCF MarginFCF / Revenue | 50.3% | -41.8% |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | 7.47× | -1.93× |
| TTM Free Cash FlowTrailing 4 quarters | $63.6M | $224.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-118.4M | ||
| Q4 25 | $95.9M | $65.5M | ||
| Q3 25 | $-8.5M | $196.9M | ||
| Q2 25 | $-11.4M | $249.8M | ||
| Q1 25 | $-1.3M | $-154.0M | ||
| Q4 24 | $74.4M | $-8.5M | ||
| Q3 24 | $-14.2M | $132.8M | ||
| Q2 24 | $2.5M | $193.7M |
| Q1 26 | — | $-143.4M | ||
| Q4 25 | $92.8M | $22.1M | ||
| Q3 25 | $-11.4M | $142.9M | ||
| Q2 25 | $-14.3M | $203.0M | ||
| Q1 25 | $-3.5M | $-233.5M | ||
| Q4 24 | $70.2M | $-89.3M | ||
| Q3 24 | $-15.2M | $54.5M | ||
| Q2 24 | $836.0K | $158.2M |
| Q1 26 | — | -41.8% | ||
| Q4 25 | 50.3% | 13.7% | ||
| Q3 25 | -7.1% | 50.1% | ||
| Q2 25 | -7.4% | 52.3% | ||
| Q1 25 | -3.0% | -68.7% | ||
| Q4 24 | 48.9% | -53.3% | ||
| Q3 24 | -11.8% | 23.3% | ||
| Q2 24 | 0.4% | 42.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 26.9% | ||
| Q3 25 | 1.8% | 18.9% | ||
| Q2 25 | 1.5% | 12.1% | ||
| Q1 25 | 1.9% | 23.4% | ||
| Q4 24 | 2.9% | 48.2% | ||
| Q3 24 | 0.8% | 33.5% | ||
| Q2 24 | 0.8% | 9.4% |
| Q1 26 | — | -1.93× | ||
| Q4 25 | 7.47× | 28.45× | ||
| Q3 25 | -1.07× | 3.80× | ||
| Q2 25 | -0.44× | 3.29× | ||
| Q1 25 | -9.03× | -2.55× | ||
| Q4 24 | 9.41× | -0.87× | ||
| Q3 24 | -0.44× | 3.27× | ||
| Q2 24 | 0.10× | 2.23× |
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% |
TREX
Segment breakdown not available.
