DUCOMMUN INC /DE/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data DUCOMMUN INC /DE/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	551	558	629	721	629	645	713	757	786	825
Cost of revenue	444	455	507	569	491	503	568	594	589	603
Gross profit	107	103	123	152	138	142	144	163	197	222
Selling, general and administrative	77.1	79.1	84	96	89.8	93.6	98.4	120	149	148
General and administrative	16.9	21.4	26.1
Operating income	29.2	15.6	23.9	56.2	45.5	48.9	39.8	28.9	42.2	-35.7
Pre-tax income	38.1	7.61	10.3	37.8	32	170	33.3	16.4	26.9	-47.2
Income tax	12.9	-12.5	1.24	5.3	2.81	34.9	4.53	0.45	5.24	-9.89
Net income	25.3	20.1	9.04	32.5	29.2	136	28.8	15.9	21.7	-37.4
EBITDA	52.1	38.5	49.2	84.5	74.4	77.3	71.2	61.5	75.7	-2.08
EPS, basic	2.27	1.78	0.79	2.82	2.50	11.41	2.38	1.16	1.47	-2.50
EPS, diluted	2.24	1.74	0.77	2.75	2.45	11.06	2.33	1.14	1.44	-2.50
Shares, basic (weighted)	11.2	11.3	11.4	11.5	11.7	11.9	12.1	13.7	14.8	14.9
Shares, diluted (weighted)	11.3	11.6	11.7	11.8	11.9	12.3	12.4	14	15	14.9

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	7.43	2.15	10.3	39.6	56.5	76.3	46.2	42.9	37.1	45.3
Receivables	76.2	74.1	67.8	67.1	58	72.3	104	105	110	124
Inventory	120	122	101	112	129	151	171	199	197	183
Other current assets	11	11.4	6.53	5.5	5.57	8.63	8.94	17.3	17	16.4
Total current assets	226	221	284	341	410	493	527	550	568	626
Property, plant and equipment	102	110	107	115	110	102	106	111	110	107
Lease right-of-use assets			0	19.1	16.3	33.3	34.6	29.5	28.6	40.1
Goodwill	82.6	117	136	171	171	204	203	245	245	245
Intangible assets	102	115	112	138	125	142	127	166	150	133
Other non-current assets	3.49	3.1	5.16	6.01	5.12	5.02	22.7	18.9	23.2	20.2
Total assets	515	567	645	790	837	979	1,022	1,121	1,126	1,186
Accounts payable	57	51.9	69.3	82.6	64	66.1	90.1	72.3	75.8	74.7
Accrued liabilities	29.3	28.3	37.8	37.6	40.5	41.3	48.8	42.3	44.2	51.1
Deferred revenue		0	17.1	14.5	28.3	42.1	47.1	53.5	34.4	40.7
Short-term debt	0	0	2.33	7	7	7	6.25	7.81	12.5	5
Total current liabilities	86.3	80.2	127	145	143	163	199	184	176	179
Long-term debt	170	218	231	303	314	281	242	258	231	300
Lease liabilities			0	17.6	14.6	28.1	28.8	22.9	21.3	34.2
Other non-current liabilities	18.7	18.9	14.4	17.7	21.6	15.4	12.7	16.4	19.5	12.7
Total liabilities	303	331	388	498	508	504	496	485	446	525
Total debt	167	216	229	301	312	279	241	257	230	299
Paid-in capital	76.8	80.2	83.7	88.4	97.1	104	112	206	225	248
Retained earnings	141	161	180	213	242	377	406	422	444	406
Other comprehensive income	-6.08	-6.12	-7.36	-8.27	-9.6	-7.03	7.75	7.77	11.4	6.55
Shareholders' equity	212	236	257	293	329	475	526	636	680	661
Total equity	212	236	257	293	329	475	526	636	680	661
Total liabilities and equity	515	567	645	790	837	979	1,022	1,121	1,126	1,186
Shares outstanding	11.2	11.3	11.4	11.6	11.7	11.9	12.1	14.6	14.8	14.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	25.3	20.1	9.04	32.5	29.2	136	28.8	15.9	21.7	-37.4
Depreciation and amortization	22.9	22.8	25.3	28.3	28.9	28.4	31.4	32.6	33.4	33.7
Stock-based compensation	3.01	4.68	5.04	7.16	9.3	11.2	10.7	15	26.9	28.5
Deferred income tax	3.92	-15.4	-0.5	-1.57	0.74	0.95	-9.39	-9.83	-7.62	-11.6
Change in receivables	3.22	2.72	7.5	2.38	8.88	-11.7	-31.2	2	-5.65	-14.6
Change in inventory	-5.18	-0.53	23.2	-8.49	-20.2	-17.1	-20.8	-16	2.21	14.2
Change in payables	15.1	-4.02	18.5	11.6	-19.7	2.79	24.2	-18.4	3.24	-0.55
Cash from operations	43.3	35.4	46.2	51	12.6	-0.57	32.7	31.1	34.2	-33.4
Capital expenditures	-17	-27.6	-17.6	-18.3	-12.5	-16.9	-19.7	-19.5	-14.1	-15.2
Acquisitions	0	-59.8	0	0				-114	0	0
Cash from investing	34.9	-86.2	-47.9	-94.9	-5.47	57.8	-19.2	-133	-13.9	-13.1
Debt repaid	-0.02	-0	0	-0.17	-0.29	-0.36	-0.34
Stock issued						0	0	85.1	0	0
Cash from financing	-76.2	45.5	9.81	73.2	9.74	-37.3	-43.5	99	-26	54.7
Net change in cash	1.98	-5.28	8.11	29.3	16.9	19.9	-30.1	-3.38	-5.72	8.15
Free cash flow	26.3	7.82	28.6	32.7	0.1	-17.4	13	11.5	20.1	-48.6
Interest paid	6.88	7.31	11.6	16.5	11.9	10.1	11	19.9	14	11.1
Income taxes paid	9.78	3.13	0.32	5.7	3.81	32.9	3.83	23	12.9	2.33

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 4, 2026; growth uses fiscal years. Valuation uses the share price of $172.15 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	27.4%	Gross profit / revenue.
Operating margin	-1.7%	Operating income / revenue.
EBITDA margin	2.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-3.3%	Pre-tax income / revenue.
Net margin	-2.4%	Net income / revenue.
FCF margin	-2.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-1.4%	Cash from operations / revenue.
Return on equity (ROE)	-3.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.7%	Net income / average total assets.
Return on invested capital (ROIC)	-1.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	16.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	2.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.5%	Capital expenditures / revenue.
D&A / revenue	3.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	12.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	15.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	10.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-184.6%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-102.7%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-272.3%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-273.6%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-197.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-342.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-2.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	7.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	15.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	6.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	4.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.36x	Current assets / current liabilities.
Quick ratio	0.95x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.20x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.39x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	22.2%	Total debt / total assets.
Liabilities / assets	43.6%	Total liabilities / total assets.
Net debt	$231.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	12.1x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$464.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	30.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$321.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.71x	Revenue / average total assets.
Fixed asset turnover	8.19x	Revenue / average property, plant and equipment.
Inventory turnover	3.27x	Cost of revenue / average inventory.
Days inventory	111 days	365 x average inventory / cost of revenue.
Receivables turnover	5.89x	Revenue / average receivables.
Days sales outstanding	62 days	365 x average receivables / revenue.
Days payables	56 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	118 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$1.51	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$55.61	Revenue / diluted weighted shares.
FCF per share	-$1.57	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.76	Cash from operations / diluted weighted shares.
Book value per share	$45.73	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$21.28	Tangible book value / shares outstanding.
Cash per share	$2.64	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$2.60B	Share price x shares outstanding.
Enterprise value	$2.83B	Market cap + total debt - cash - short-term investments.
P/S	3.00x	Market cap / revenue.
P/B	3.76x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	8.09x	Market cap / tangible book value, when positive.
EV/Sales	3.27x	Enterprise value / revenue.
EV/EBITDA	147x	Enterprise value / EBITDA, when both are positive.
FCF yield	-0.9%	Free cash flow / market cap.
Earnings yield	-0.8%	Net income / market cap (the inverse of P/E).

What was DUCOMMUN INC /DE/'s revenue in fiscal 2025?

DUCOMMUN INC /DE/ reported revenue of $824.8M for fiscal 2025, 4.9% higher than the year before.

Was DUCOMMUN INC /DE/ profitable in fiscal 2025?

No. It reported a net loss of $37.4M.

How much free cash flow did DUCOMMUN INC /DE/ generate in fiscal 2025?

Cash from operations of $33.4M minus capital expenditures of $15.2M left free cash flow of -$48.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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