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Manitowoc vs Douglas Dynamics: revenue, profit, margins and growth compared

Manitowoc brought in $2.2B of revenue in fiscal 2025, Douglas Dynamics $656.1M in fiscal 2025. Revenue changed by +2.9% at Manitowoc and +15.4% at Douglas Dynamics on the year before, so Douglas Dynamics grew faster. Manitowoc kept 0.3% of its revenue as net profit, Douglas Dynamics 7.1%. Free cash flow was -$15.3M at Manitowoc and $63.9M at Douglas Dynamics.

Side by side, latest fiscal year

MTWPLOW
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.2B$656.1M
Revenue growth+2.9%+15.4%
Net income$7.2M$46.9M
Net margin0.3%7.1%
Free cash flow-$15.3M$63.9M
Free cash flow margin-0.7%9.7%
Earnings per share (diluted)$0.20$1.96
Cash$77.3M$8.3M
Debt$465.2M$144M
Price to earnings110.720.3
Market value$798.4M$917.1M
Dividend yieldn/a2.97%
Rank by revenue in sector#211 of 451 · Industrials#294 of 451 · Industrials

Over the years

Revenue
MTW FY2018: $1.8BMTW FY2019: $1.8BMTW FY2020: $1.4BMTW FY2021: $1.7BMTW FY2022: $2BMTW FY2023: $2.2BMTW FY2024: $2.2BMTW FY2025: $2.2BPLOW FY2018: $524.1MPLOW FY2019: $571.7MPLOW FY2020: $480.2MPLOW FY2021: $541.5MPLOW FY2022: $616.1MPLOW FY2023: $568.2MPLOW FY2024: $568.5MPLOW FY2025: $656.1MFY18FY19FY20FY21FY22FY23FY24FY25
MTW $2.2BPLOW $656.1M
Net income
MTW FY2018: -$67.1MMTW FY2019: $46.6MMTW FY2020: -$19.1MMTW FY2021: $11MMTW FY2022: -$123.6MMTW FY2023: $39.2MMTW FY2024: $55.8MMTW FY2025: $7.2MPLOW FY2018: $43.9MPLOW FY2019: $49.2MPLOW FY2020: -$86.6MPLOW FY2021: $30.7MPLOW FY2022: $38.6MPLOW FY2023: $23.7MPLOW FY2024: $56.2MPLOW FY2025: $46.9MFY18FY19FY20FY21FY22FY23FY24FY25
MTW $7.2MPLOW $46.9M
Net margin
MTW FY2018: -3.6%MTW FY2019: 2.5%MTW FY2020: -1.3%MTW FY2021: 0.6%MTW FY2022: -6.1%MTW FY2023: 1.8%MTW FY2024: 2.6%MTW FY2025: 0.3%PLOW FY2018: 8.4%PLOW FY2019: 8.6%PLOW FY2020: -18.0%PLOW FY2021: 5.7%PLOW FY2022: 6.3%PLOW FY2023: 4.2%PLOW FY2024: 9.9%PLOW FY2025: 7.1%FY18FY19FY20FY21FY22FY23FY24FY25
MTW 0.3%PLOW 7.1%
Revenue growth
MTW FY2019: -0.7%MTW FY2020: -21.3%MTW FY2021: +19.2%MTW FY2022: +18.2%MTW FY2023: +9.6%MTW FY2024: -2.2%MTW FY2025: +2.9%PLOW FY2019: +9.1%PLOW FY2020: -16.0%PLOW FY2021: +12.8%PLOW FY2022: +13.8%PLOW FY2023: -7.8%PLOW FY2024: +0.1%PLOW FY2025: +15.4%FY19FY20FY21FY22FY23FY24FY25
MTW +2.9%PLOW +15.4%
Free cash flow
MTW FY2018: -$544.7MMTW FY2019: -$88.4MMTW FY2020: -$61.4MMTW FY2021: $35.8MMTW FY2022: $15.1MMTW FY2023: -$14.4MMTW FY2024: $3.5MMTW FY2025: -$15.3MPLOW FY2018: $48.5MPLOW FY2019: $65.8MPLOW FY2020: $38.7MPLOW FY2021: $48.7MPLOW FY2022: $27.6MPLOW FY2023: $2.7MPLOW FY2024: $33.4MPLOW FY2025: $63.9MFY18FY19FY20FY21FY22FY23FY24FY25
MTW -$15.3MPLOW $63.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about Manitowoc and Douglas Dynamics

Which is bigger by revenue, Manitowoc or Douglas Dynamics?

Manitowoc is bigger by revenue: $2.2B in fiscal 2025, against $656.1M for Douglas Dynamics in fiscal 2025.

Which keeps more of its revenue as profit, Manitowoc or Douglas Dynamics?

Manitowoc had a net margin of 0.3% in fiscal 2025; Douglas Dynamics had 7.1% in fiscal 2025.

Which grew revenue faster, Manitowoc or Douglas Dynamics?

In their latest fiscal years revenue changed by +2.9% at Manitowoc and +15.4% at Douglas Dynamics.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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