Douglas Dynamics, Inc (PLOW)

Construction Machinery & Equip

Latest Price

$39.83

TTM P/E

18.10

Normalized P/E

21.95

TTM Div Yield

2.96%

Fwd Div Yield

2.96%

Book Value

12.96

P/B Ratio

3.07

Valuation metrics

EPS: $1.96

Book value / share: $12.20

Formula: √(22.5 × EPS × BVPS)

Graham Number

$23.20

41% downside

Norm. op. income: $59M (median of 7yr)

Tax rate: 20%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$14.23

64% downside

Base FCF: $33M (median of recent 5yr)

Growth: 5%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$18.56

53% downside

EPS: $1.96

Target P/E: 22×

Formula: EPS × P/E

P/E Fair Value

$43.12

+9% upside

93.3% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	2.02M	$109.0M	8.76%	+168.1K	2026-06-30
Allspring Global Investments Holdings, LLC	1.54M	$80.0M	6.67%	-520.6K	2026-06-30
Pzena Investment Management LLC	1.38M	$74.0M	6.00%	-208.5K	2026-06-30
Vanguard Capital Management LLC	985.5K	$53.0M	4.27%	+14.5K	2026-06-30
Dimensional Fund Advisors LP	919.1K	$49.0M	3.98%	-17.0K	2026-06-30
T. Rowe Price Investment Management, Inc.	791.1K	$42.0M	3.43%	+3.1K	2026-06-30
Punch & Associates Investment Management, Inc.	659.3K	$35.0M	2.86%	+37.5K	2026-06-30
Geode Capital Management, LLC	658.3K	$35.0M	2.85%	+107.5K	2026-06-30
State Street Corp	640.3K	$34.0M	2.78%	+34.7K	2026-06-30
Nuveen, LLC	633.4K	$34.0M	2.75%	+13.4K	2026-06-30