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Side-by-side financial comparison of DOUGLAS DYNAMICS, INC (PLOW) and Vericel Corp (VCEL). Click either name above to swap in a different company.
DOUGLAS DYNAMICS, INC is the larger business by last-quarter revenue ($184.5M vs $92.9M, roughly 2.0× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs 7.0%, a 18.1% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs 23.3%). DOUGLAS DYNAMICS, INC produced more free cash flow last quarter ($92.8M vs $12.8M). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs 34.6%).
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...
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
PLOW vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $184.5M | $92.9M |
| Net Profit | $12.8M | $23.2M |
| Gross Margin | 26.1% | 78.7% |
| Operating Margin | 10.5% | 24.1% |
| Net Margin | 7.0% | 25.0% |
| Revenue YoY | 28.6% | 23.3% |
| Net Profit YoY | 62.3% | 17.3% |
| EPS (diluted) | $0.54 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $162.1M | $67.5M | ||
| Q2 25 | $194.3M | $63.2M | ||
| Q1 25 | $115.1M | $52.6M | ||
| Q4 24 | $143.5M | $75.4M | ||
| Q3 24 | $129.4M | $57.9M | ||
| Q2 24 | $199.9M | $52.7M | ||
| Q1 24 | $95.7M | $51.3M |
| Q4 25 | $12.8M | $23.2M | ||
| Q3 25 | $8.0M | $5.1M | ||
| Q2 25 | $26.0M | $-553.0K | ||
| Q1 25 | $148.0K | $-11.2M | ||
| Q4 24 | $7.9M | $19.8M | ||
| Q3 24 | $32.3M | $-901.0K | ||
| Q2 24 | $24.3M | $-4.7M | ||
| Q1 24 | $-8.4M | $-3.9M |
| Q4 25 | 26.1% | 78.7% | ||
| Q3 25 | 23.5% | 73.5% | ||
| Q2 25 | 31.0% | 73.7% | ||
| Q1 25 | 24.5% | 69.0% | ||
| Q4 24 | 24.9% | 77.6% | ||
| Q3 24 | 23.9% | 71.9% | ||
| Q2 24 | 30.7% | 69.5% | ||
| Q1 24 | 19.8% | 68.9% |
| Q4 25 | 10.5% | 24.1% | ||
| Q3 25 | 8.7% | 5.1% | ||
| Q2 25 | 19.0% | -3.2% | ||
| Q1 25 | 2.8% | -24.3% | ||
| Q4 24 | 9.0% | 24.5% | ||
| Q3 24 | 35.4% | -4.3% | ||
| Q2 24 | 18.2% | -11.5% | ||
| Q1 24 | -6.7% | -10.7% |
| Q4 25 | 7.0% | 25.0% | ||
| Q3 25 | 4.9% | 7.5% | ||
| Q2 25 | 13.4% | -0.9% | ||
| Q1 25 | 0.1% | -21.4% | ||
| Q4 24 | 5.5% | 26.3% | ||
| Q3 24 | 24.9% | -1.6% | ||
| Q2 24 | 12.2% | -8.9% | ||
| Q1 24 | -8.7% | -7.5% |
| Q4 25 | $0.54 | $0.46 | ||
| Q3 25 | $0.33 | $0.10 | ||
| Q2 25 | $1.09 | $-0.01 | ||
| Q1 25 | $0.00 | $-0.23 | ||
| Q4 24 | $0.35 | $0.40 | ||
| Q3 24 | $1.36 | $-0.02 | ||
| Q2 24 | $1.02 | $-0.10 | ||
| Q1 24 | $-0.37 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $137.5M |
| Total DebtLower is stronger | $144.0M | — |
| Stockholders' EquityBook value | $281.4M | $354.6M |
| Total Assets | $626.7M | $488.0M |
| Debt / EquityLower = less leverage | 0.51× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $137.5M | ||
| Q3 25 | — | $135.4M | ||
| Q2 25 | — | $116.9M | ||
| Q1 25 | — | $112.9M | ||
| Q4 24 | — | $116.2M | ||
| Q3 24 | — | $101.7M | ||
| Q2 24 | — | $102.5M | ||
| Q1 24 | — | $110.6M |
| Q4 25 | $144.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $147.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $281.4M | $354.6M | ||
| Q3 25 | $275.3M | $321.9M | ||
| Q2 25 | $273.3M | $306.8M | ||
| Q1 25 | $258.9M | $295.5M | ||
| Q4 24 | $264.2M | $292.0M | ||
| Q3 24 | $260.8M | $257.5M | ||
| Q2 24 | $236.7M | $243.0M | ||
| Q1 24 | $217.2M | $233.9M |
| Q4 25 | $626.7M | $488.0M | ||
| Q3 25 | $694.9M | $453.3M | ||
| Q2 25 | $671.5M | $435.6M | ||
| Q1 25 | $621.0M | $424.6M | ||
| Q4 24 | $590.0M | $432.7M | ||
| Q3 24 | $665.6M | $390.4M | ||
| Q2 24 | $617.0M | $376.8M | ||
| Q1 24 | $577.1M | $356.7M |
| Q4 25 | 0.51× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.56× | — | ||
| Q3 24 | — | — | ||
| 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 | $15.0M |
| Free Cash FlowOCF − Capex | $92.8M | $12.8M |
| FCF MarginFCF / Revenue | 50.3% | 13.8% |
| Capex IntensityCapex / Revenue | 1.7% | 2.4% |
| Cash ConversionOCF / Net Profit | 7.47× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $63.6M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.9M | $15.0M | ||
| Q3 25 | $-8.5M | $22.1M | ||
| Q2 25 | $-11.4M | $8.2M | ||
| Q1 25 | $-1.3M | $6.6M | ||
| Q4 24 | $74.4M | $22.2M | ||
| Q3 24 | $-14.2M | $10.2M | ||
| Q2 24 | $2.5M | $18.5M | ||
| Q1 24 | $-21.6M | $7.2M |
| Q4 25 | $92.8M | $12.8M | ||
| Q3 25 | $-11.4M | $19.5M | ||
| Q2 25 | $-14.3M | $81.0K | ||
| Q1 25 | $-3.5M | $-7.6M | ||
| Q4 24 | $70.2M | $8.5M | ||
| Q3 24 | $-15.2M | $-9.2M | ||
| Q2 24 | $836.0K | $1.8M | ||
| Q1 24 | $-22.4M | $-6.8M |
| Q4 25 | 50.3% | 13.8% | ||
| Q3 25 | -7.1% | 28.8% | ||
| Q2 25 | -7.4% | 0.1% | ||
| Q1 25 | -3.0% | -14.5% | ||
| Q4 24 | 48.9% | 11.2% | ||
| Q3 24 | -11.8% | -15.9% | ||
| Q2 24 | 0.4% | 3.4% | ||
| Q1 24 | -23.4% | -13.3% |
| Q4 25 | 1.7% | 2.4% | ||
| Q3 25 | 1.8% | 3.9% | ||
| Q2 25 | 1.5% | 12.9% | ||
| Q1 25 | 1.9% | 27.0% | ||
| Q4 24 | 2.9% | 18.3% | ||
| Q3 24 | 0.8% | 33.5% | ||
| Q2 24 | 0.8% | 31.8% | ||
| Q1 24 | 0.8% | 27.3% |
| Q4 25 | 7.47× | 0.65× | ||
| Q3 25 | -1.07× | 4.35× | ||
| Q2 25 | -0.44× | — | ||
| Q1 25 | -9.03× | — | ||
| Q4 24 | 9.41× | 1.12× | ||
| Q3 24 | -0.44× | — | ||
| Q2 24 | 0.10× | — | ||
| Q1 24 | — | — |
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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
