Ducommun (DCO) financial statements
Ducommun reported revenue of $825M in fiscal 2025, up 4.6% a year over 9 years.
Net income was -$37M and the operating margin -4.3%, against 5.3% in 2016.
Free cash flow was -$49M.
The diluted share count rose 32% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ducommun's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $551M | $558M | $629M | $721M | $629M | $645M | $713M | $757M | $786M | $825M |
| Cost of revenue | $444M | $455M | $507M | $569M | $491M | $503M | $568M | $594M | $589M | $603M |
| Gross profit | $107M | $103M | $123M | $152M | $138M | $142M | $144M | $163M | $197M | $222M |
| Selling, general and admin | $77M | $79M | $84M | $96M | $90M | $94M | $98M | $120M | $149M | $148M |
| Operating income | $29M | $16M | $24M | $56M | $46M | $49M | $40M | $29M | $42M | -$36M |
| Pre-tax income | $38M | $8M | $10M | $38M | $32M | $170M | $33M | $16M | $27M | -$47M |
| Income tax | $13M | -$12M | $1M | $5M | $3M | $35M | $5M | $451,000 | $5M | -$10M |
| Net income | $25M | $20M | $9M | $32M | $29M | $136M | $29M | $16M | $22M | -$37M |
| EPS (diluted) | $2.24 | $1.74 | $0.77 | $2.75 | $2.45 | $11.06 | $2.33 | $1.14 | $1.44 | -$2.50 |
| Diluted shares | 11M | 12M | 12M | 12M | 12M | 12M | 12M | 14M | 15M | 15M |
| Gross margin | 19.3% | 18.5% | 19.5% | 21.1% | 21.9% | 22.1% | 20.3% | 21.6% | 25.1% | 26.9% |
| Operating margin | 5.3% | 2.8% | 3.8% | 7.8% | 7.2% | 7.6% | 5.6% | 3.8% | 5.4% | -4.3% |
| Net margin | 4.6% | 3.6% | 1.4% | 4.5% | 4.6% | 21.0% | 4.0% | 2.1% | 2.8% | -4.5% |
Balance sheet
Fiscal years, from Ducommun's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $7M | $2M | $10M | $40M | $56M | $76M | $46M | $43M | $37M | $45M |
| Receivables | $76M | $74M | $68M | $67M | $58M | $72M | $104M | $105M | $110M | $124M |
| Inventory | $120M | $122M | $101M | $112M | $129M | $151M | $171M | $199M | $197M | $183M |
| Total current assets | $226M | $221M | $284M | $341M | $410M | $493M | $527M | $550M | $568M | $626M |
| Property, plant and equipment | $102M | $110M | $107M | $115M | $110M | $102M | $106M | $111M | $110M | $107M |
| Goodwill | $83M | $117M | $136M | $171M | $171M | $204M | $203M | $245M | $245M | $245M |
| Total assets | $515M | $567M | $645M | $790M | $837M | $979M | $1.0B | $1.1B | $1.1B | $1.2B |
| Total current liabilities | $86M | $80M | $127M | $145M | $143M | $163M | $199M | $184M | $176M | $179M |
| Long-term debt | $167M | $216M | $229M | $301M | $312M | $279M | $241M | $257M | $230M | $299M |
| Total liabilities | $303M | $331M | $388M | $498M | $508M | $504M | $496M | $485M | $446M | $525M |
| Shareholders' equity | $212M | $236M | $257M | $293M | $329M | $475M | $526M | $636M | $680M | $661M |
| Net debt | $159M | $214M | $221M | $268M | $262M | $210M | $201M | $222M | $205M | $259M |
Cash flow
Fiscal years, from Ducommun's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $43M | $35M | $46M | $51M | $13M | -$565,000 | $33M | $31M | $34M | -$33M |
| Capital spending | $17M | $28M | $18M | $18M | $13M | $17M | $20M | $20M | $14M | $15M |
| Free cash flow | $26M | $8M | $29M | $33M | $101,000 | -$17M | $13M | $12M | $20M | -$49M |
| Stock-based compensation | $3M | $5M | $5M | $7M | $9M | $11M | $11M | $15M | $27M | $28M |
| Net borrowing | -$23,000 | -$3,000 | $0 | -$169,000 | -$288,000 | -$362,000 | -$344,000 | — | — | — |
| Free cash flow margin | 4.8% | 1.4% | 4.5% | 4.5% | 0.0% | -2.7% | 1.8% | 1.5% | 2.5% | -5.9% |
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Open DCO in InvestinglyQuestions
What was Ducommun's revenue in 2025?
$825M in fiscal 2025, from its 10-K filing.
How much free cash flow does Ducommun generate?
-$49M in fiscal 2025 (operating cash flow minus capital spending).
From Ducommun's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.