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Side-by-side financial comparison of DOUGLAS DYNAMICS, INC (PLOW) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M vs $184.5M, roughly 1.8× DOUGLAS DYNAMICS, INC). DOUGLAS DYNAMICS, INC runs the higher net margin — 7.0% vs -12.9%, a 19.9% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs -0.4%). DOUGLAS DYNAMICS, INC produced more free cash flow last quarter ($92.8M vs $-680.1M). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs 22.1%).
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...
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
PLOW vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $184.5M | $340.0M |
| Net Profit | $12.8M | $-13.9M |
| Gross Margin | 26.1% | — |
| Operating Margin | 10.5% | -17.2% |
| Net Margin | 7.0% | -12.9% |
| Revenue YoY | 28.6% | -0.4% |
| Net Profit YoY | 62.3% | -131.0% |
| EPS (diluted) | $0.54 | $-0.41 |
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 | $340.0M | ||
| Q3 25 | $162.1M | $337.7M | ||
| Q2 25 | $194.3M | $319.2M | ||
| Q1 25 | $115.1M | $237.4M | ||
| Q4 24 | $143.5M | $341.5M | ||
| Q3 24 | $129.4M | $292.3M | ||
| Q2 24 | $199.9M | $270.7M | ||
| Q1 24 | $95.7M | $228.1M |
| Q4 25 | $12.8M | $-13.9M | ||
| Q3 25 | $8.0M | $33.5M | ||
| Q2 25 | $26.0M | $34.0M | ||
| Q1 25 | $148.0K | $2.8M | ||
| Q4 24 | $7.9M | $44.8M | ||
| Q3 24 | $32.3M | $28.8M | ||
| Q2 24 | $24.3M | $22.7M | ||
| Q1 24 | $-8.4M | $11.9M |
| 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% | -17.2% | ||
| Q3 25 | 8.7% | 13.6% | ||
| Q2 25 | 19.0% | 14.5% | ||
| Q1 25 | 2.8% | 2.2% | ||
| Q4 24 | 9.0% | 15.3% | ||
| Q3 24 | 35.4% | 12.8% | ||
| Q2 24 | 18.2% | 10.4% | ||
| Q1 24 | -6.7% | 6.0% |
| Q4 25 | 7.0% | -12.9% | ||
| Q3 25 | 4.9% | 9.9% | ||
| Q2 25 | 13.4% | 10.6% | ||
| Q1 25 | 0.1% | 1.2% | ||
| Q4 24 | 5.5% | 13.1% | ||
| Q3 24 | 24.9% | 9.9% | ||
| Q2 24 | 12.2% | 8.4% | ||
| Q1 24 | -8.7% | 5.2% |
| Q4 25 | $0.54 | $-0.41 | ||
| Q3 25 | $0.33 | $0.98 | ||
| Q2 25 | $1.09 | $0.99 | ||
| Q1 25 | $0.00 | $0.08 | ||
| Q4 24 | $0.35 | $1.32 | ||
| Q3 24 | $1.36 | $0.85 | ||
| Q2 24 | $1.02 | $0.67 | ||
| Q1 24 | $-0.37 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $299.3M |
| Total DebtLower is stronger | $144.0M | — |
| Stockholders' EquityBook value | $281.4M | $1.7B |
| Total Assets | $626.7M | $5.1B |
| Debt / EquityLower = less leverage | 0.51× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $299.3M | ||
| Q3 25 | — | $274.8M | ||
| Q2 25 | — | $233.7M | ||
| Q1 25 | — | $181.0M | ||
| Q4 24 | — | $279.3M | ||
| Q3 24 | — | $179.8M | ||
| Q2 24 | — | $208.1M | ||
| Q1 24 | — | $216.5M |
| Q4 25 | $144.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $147.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $281.4M | $1.7B | ||
| Q3 25 | $275.3M | $1.8B | ||
| Q2 25 | $273.3M | $1.8B | ||
| Q1 25 | $258.9M | $1.7B | ||
| Q4 24 | $264.2M | $1.7B | ||
| Q3 24 | $260.8M | $1.7B | ||
| Q2 24 | $236.7M | $1.7B | ||
| Q1 24 | $217.2M | $1.7B |
| Q4 25 | $626.7M | $5.1B | ||
| Q3 25 | $694.9M | $5.8B | ||
| Q2 25 | $671.5M | $4.7B | ||
| Q1 25 | $621.0M | $4.5B | ||
| Q4 24 | $590.0M | $4.4B | ||
| Q3 24 | $665.6M | $4.6B | ||
| Q2 24 | $617.0M | $4.2B | ||
| Q1 24 | $577.1M | $3.8B |
| 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 | $-664.3M |
| Free Cash FlowOCF − Capex | $92.8M | $-680.1M |
| FCF MarginFCF / Revenue | 50.3% | -200.0% |
| Capex IntensityCapex / Revenue | 1.7% | 4.6% |
| Cash ConversionOCF / Net Profit | 7.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $63.6M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.9M | $-664.3M | ||
| Q3 25 | $-8.5M | $-948.1M | ||
| Q2 25 | $-11.4M | $-238.5M | ||
| Q1 25 | $-1.3M | $-281.1M | ||
| Q4 24 | $74.4M | $129.4M | ||
| Q3 24 | $-14.2M | $-202.0M | ||
| Q2 24 | $2.5M | $-237.8M | ||
| Q1 24 | $-21.6M | $38.4M |
| Q4 25 | $92.8M | $-680.1M | ||
| Q3 25 | $-11.4M | $-950.4M | ||
| Q2 25 | $-14.3M | $-241.0M | ||
| Q1 25 | $-3.5M | $-284.7M | ||
| Q4 24 | $70.2M | $116.4M | ||
| Q3 24 | $-15.2M | $-204.0M | ||
| Q2 24 | $836.0K | $-241.7M | ||
| Q1 24 | $-22.4M | $35.2M |
| Q4 25 | 50.3% | -200.0% | ||
| Q3 25 | -7.1% | -281.5% | ||
| Q2 25 | -7.4% | -75.5% | ||
| Q1 25 | -3.0% | -120.0% | ||
| Q4 24 | 48.9% | 34.1% | ||
| Q3 24 | -11.8% | -69.8% | ||
| Q2 24 | 0.4% | -89.3% | ||
| Q1 24 | -23.4% | 15.4% |
| Q4 25 | 1.7% | 4.6% | ||
| Q3 25 | 1.8% | 0.7% | ||
| Q2 25 | 1.5% | 0.8% | ||
| Q1 25 | 1.9% | 1.5% | ||
| Q4 24 | 2.9% | 3.8% | ||
| Q3 24 | 0.8% | 0.7% | ||
| Q2 24 | 0.8% | 1.4% | ||
| Q1 24 | 0.8% | 1.4% |
| Q4 25 | 7.47× | — | ||
| Q3 25 | -1.07× | -28.34× | ||
| Q2 25 | -0.44× | -7.02× | ||
| Q1 25 | -9.03× | -102.07× | ||
| Q4 24 | 9.41× | 2.89× | ||
| Q3 24 | -0.44× | -7.01× | ||
| Q2 24 | 0.10× | -10.49× | ||
| Q1 24 | — | 3.24× |
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% |
WD
Segment breakdown not available.
