Ducommun Incorporated (DCO) 10-Year Financial Performance & Capital Metrics

DCO • • Industrial / General

IndustrialsAerospace & DefenseAerospace Components & SubsystemsStructural Components & Composites

AboutDucommun Incorporated provides engineering and manufacturing products and services primarily to the aerospace and defense, industrial, medical, and other industries in the United States. It operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; higher-level electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies. It also supplies engineered products, including illuminated pushbutton switches and panels for aviation and test systems; microwave and millimeter switches and filters for radio frequency systems and test instrumentation; and motors and resolvers for motion control. In addition, this segment provides engineering expertise for aerospace system design, development, integration, and testing. The Structural Systems segment designs, engineers, and manufactures contoured aluminum, titanium, and Inconel aero structure components; structural assembly products, such as winglets, engine components, and fuselage structural panels; and metal and composite bonded structures and assemblies comprising aircraft wing spoilers, large fuselage skins, rotor blades on rotary-wing aircraft and components, flight control surfaces, engine components, ammunition handling systems, and magnetic seals. It serves commercial aircraft, military fixed-wing aircraft, military and commercial rotary-wing aircraft, and space programs, as well as industrial, medical, and other end-use markets. The company was founded in 1849 and is headquartered in Santa Ana, California.Show more

Revenue $787M +3.9%
EBITDA $86M +39.3%
Net Income $31M +97.7%
EPS (Diluted) 2.10 +84.2%
Gross Margin 25.08% +16.3%
EBITDA Margin 10.89% +34.1%
Operating Margin 6.64% +73.8%
Net Margin 4% +90.3%
ROE 4.78% +74.3%
ROIC 4.34% +65.1%
Debt/Equity 0.40 -14.2%
Interest Coverage 3.41 +145.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓Momentum leader: RS Rating 81 (top 19%)
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 4.4%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.58%

5Y1.75%

3Y6.81%

TTM3.16%

Profit (Net Income) CAGR

10Y4.72%

5Y-0.6%

3Y-38.52%

TTM-216.01%

EPS CAGR

10Y1.61%

5Y-5.25%

3Y-42.52%

TTM-217.09%

ROCE

10Y Avg3.74%

5Y Avg5.39%

3Y Avg4.56%

Latest5.53%

Peer Comparison

Structural Components & Composites

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LOARLoar Holdings Inc.	6.84B	73.09	304.54	26.88%	13.33%	5.46%	0.67%	0.26
PKEPark Aerospace Corp.	501.33M	25.16	86.76	10.75%	13.14%	8.14%	0.76%	0.00
BWXTBWX Technologies, Inc.	19.5B	213.25	69.46	8.31%	10.04%	24.74%	1.31%	0.98
DCODucommun Incorporated	1.7B	113.92	54.25	3.9%	-4.29%	-5.33%	1.18%	0.40
GEGE Aerospace	337.48B	319.94	53.41	9.49%	18.33%	42.38%	1.09%	1.04
HXLHexcel Corporation	6.71B	84.26	52.99	6.37%	3.67%	4.39%	3.02%	0.48
CVUCPI Aerostructures, Inc.	55.11M	4.18	16.08	-6.23%	-0.79%	-2.26%	5.72%	0.79
SPRSpirit AeroSystems Holdings, Inc.	4.64B	39.50	-2.16	4.44%	-40.65%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	666.01M	550.64M	558.18M	629.31M	721.09M	628.94M	645.41M	712.54M	756.99M	786.55M
Revenue Growth %	-0.1%	-0.17%	0.01%	0.13%	0.15%	-0.13%	0.03%	0.1%	0.06%	0.04%
Cost of Goods Sold+	565.22M	444.45M	455.36M	506.71M	568.89M	491.2M	502.95M	568.24M	593.8M	589.29M
COGS % of Revenue	0.85%	0.81%	0.82%	0.81%	0.79%	0.78%	0.78%	0.8%	0.78%	0.75%
Gross Profit+	100.79M	106.19M	102.82M	122.6M	152.2M	137.74M	142.46M	144.3M	163.19M	197.26M
Gross Margin %	0.15%	0.19%	0.18%	0.19%	0.21%	0.22%	0.22%	0.2%	0.22%	0.25%
Gross Profit Growth %	-0.28%	0.05%	-0.03%	0.19%	0.24%	-0.1%	0.03%	0.01%	0.13%	0.21%
Operating Expenses+	85.92M	77.63M	79.44M	84.01M	95.96M	92.23M	93.58M	104.51M	134.27M	145.05M
OpEx % of Revenue	0.13%	0.14%	0.14%	0.13%	0.13%	0.15%	0.14%	0.15%	0.18%	0.18%
Selling, General & Admin	85.92M	77.63M	79.44M	84.01M	95.96M	89.81M	93.58M	98.35M	119.73M	138.61M
SG&A % of Revenue	0.13%	0.14%	0.14%	0.13%	0.13%	0.14%	0.14%	0.14%	0.16%	0.18%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	215K	0	303K	0	2.42M	0	6.16M	14.54M	6.44M
Operating Income+	-75.31M	28.57M	15.03M	23.92M	56.23M	45.51M	48.88M	39.79M	28.92M	52.21M
Operating Margin %	-0.11%	0.05%	0.03%	0.04%	0.08%	0.07%	0.08%	0.06%	0.04%	0.07%
Operating Income Growth %	-2.45%	1.38%	-0.47%	0.59%	1.35%	-0.19%	0.07%	-0.19%	-0.27%	0.81%
EBITDA+	-48.46M	51.43M	37.87M	49.21M	84.54M	74.36M	77.27M	71.21M	61.49M	85.65M
EBITDA Margin %	-0.07%	0.09%	0.07%	0.08%	0.12%	0.12%	0.12%	0.1%	0.08%	0.11%
EBITDA Growth %	-1.6%	2.06%	-0.26%	0.3%	0.72%	-0.12%	0.04%	-0.08%	-0.14%	0.39%
D&A (Non-Cash Add-back)	26.85M	22.86M	22.84M	25.3M	28.3M	28.85M	28.39M	31.42M	32.57M	33.44M
EBIT	-87.88M	47.03M	24.47M	38.71M	56.05M	45.63M	181.67M	44.89M	37.15M	52.21M
Net Interest Income+	-18.71M	-8.92M	-8.87M	-13.02M	-18.29M	-13.65M	-11.19M	-11.57M	-20.77M	-15.3M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	18.71M	8.92M	8.87M	13.02M	18.29M	13.65M	11.19M	11.57M	20.77M	15.3M
Other Income/Expense	-31.28M	8.9M	-8.03M	-13.65M	-18.47M	-13.53M	121.6M	-6.47M	-12.54M	-15.3M
Pretax Income+	-106.59M	38.11M	7.61M	10.27M	37.76M	31.98M	170.48M	33.32M	16.38M	36.91M
Pretax Margin %	-0.16%	0.07%	0.01%	0.02%	0.05%	0.05%	0.26%	0.05%	0.02%	0.05%
Income Tax+	-33.31M	12.85M	-12.47M	1.24M	5.3M	2.81M	34.95M	4.53M	451K	5.41M
Effective Tax Rate %	0.69%	0.66%	2.64%	0.88%	0.86%	0.91%	0.8%	0.86%	0.97%	0.85%
Net Income+	-73.28M	25.26M	20.08M	9.04M	32.46M	29.17M	135.54M	28.79M	15.93M	31.5M
Net Margin %	-0.11%	0.05%	0.04%	0.01%	0.05%	0.05%	0.21%	0.04%	0.02%	0.04%
Net Income Growth %	-4.69%	1.34%	-0.21%	-0.55%	2.59%	-0.1%	3.65%	-0.79%	-0.45%	0.98%
Net Income (Continuing)	-74.88M	25.26M	20.08M	9.04M	32.46M	29.17M	135.54M	28.79M	15.93M	31.5M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-6.63	2.24	1.74	0.77	2.75	2.44	11.06	2.33	1.14	2.10
EPS Growth %	-4.7%	1.34%	-0.22%	-0.56%	2.57%	-0.11%	3.53%	-0.79%	-0.51%	0.84%
EPS (Basic)	-6.64	2.27	1.78	0.79	2.82	2.50	11.41	2.38	1.16	2.13
Diluted Shares Outstanding	11.05M	11.3M	11.56M	11.66M	11.79M	11.93M	12.25M	12.37M	13.97M	15.01M
Basic Shares Outstanding	11.04M	11.15M	11.29M	11.39M	11.52M	11.68M	11.88M	12.07M	13.72M	14.77M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	264.23M	225.94M	221.01M	287.39M	340.77M	410.28M	492.57M	527.34M	549.57M	568.08M
Cash & Short-Term Investments	5.45M	7.43M	2.15M	10.26M	39.58M	56.47M	76.32M	46.25M	42.86M	37.14M
Cash Only	5.45M	7.43M	2.15M	10.26M	39.58M	56.47M	76.32M	46.25M	42.86M	37.14M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	77.09M	76.24M	74.06M	154.48M	173.8M	212.05M	248.67M	295.25M	282.38M	310.3M
Days Sales Outstanding	42.25	50.54	48.43	89.6	87.98	123.06	140.63	151.24	136.15	144
Inventory	115.4M	119.9M	122.16M	101.13M	112.48M	129.22M	150.94M	171.21M	206.98M	196.88M
Days Inventory Outstanding	74.52	98.46	97.92	72.84	72.17	96.02	109.54	109.97	127.23	121.95
Other Current Assets	65.31M	22.37M	22.64M	18.21M	14.9M	12.54M	16.65M	14.63M	17.35M	23.76M
Total Non-Current Assets+	297.19M	289.49M	345.74M	360.75M	449.66M	427.06M	486.17M	494.17M	571.35M	558.02M
Property, Plant & Equipment	96.55M	101.59M	110.25M	107.05M	134.32M	126.34M	135.68M	140.86M	140.89M	138.42M
Fixed Asset Turnover	6.90x	5.42x	5.06x	5.88x	5.37x	4.98x	4.76x	5.06x	5.37x	5.68x
Goodwill	82.55M	82.55M	117.44M	136.06M	170.92M	170.83M	203.69M	203.41M	244.6M	244.6M
Intangible Assets	110.62M	101.57M	114.69M	112.09M	138.36M	124.74M	141.76M	127.2M	166.34M	149.59M
Long-Term Investments	-26.53M	553K	0	0	0	0	0	0	0	0
Other Non-Current Assets	7.46M	2.93M	3.1M	5.25M	6.01M	5.12M	5.02M	22.7M	18.87M	23.17M
Total Assets+	561.42M	515.43M	566.75M	648.14M	790.43M	837.35M	978.74M	1.02B	1.12B	1.13B
Asset Turnover	1.19x	1.07x	0.98x	0.97x	0.91x	0.75x	0.66x	0.70x	0.68x	0.70x
Asset Growth %	-0.25%	-0.08%	0.1%	0.14%	0.22%	0.06%	0.17%	0.04%	0.1%	0%
Total Current Liabilities+	83.61M	86.31M	80.24M	126.53M	144.69M	142.9M	162.56M	199.44M	183.7M	175.47M
Accounts Payable	40.34M	57.02M	51.91M	69.27M	82.6M	63.98M	66.06M	90.14M	72.27M	75.78M
Days Payables Outstanding	26.05	46.83	41.61	49.9	52.99	47.54	47.94	57.9	44.42	46.94
Short-Term Debt	26K	3K	0	2.33M	7M	7M	7M	6.25M	7.81M	12.5M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	21.98M	8.32M	5.27M	8.09M	31.34M	28.43M	40.37M	38.34M	6.51M	43.55M
Current Ratio	3.16x	2.62x	2.75x	2.27x	2.36x	2.87x	3.03x	2.64x	2.99x	3.24x
Quick Ratio	1.78x	1.23x	1.23x	1.47x	1.58x	1.97x	2.10x	1.79x	1.86x	2.12x
Cash Conversion Cycle	90.72	102.17	104.74	112.54	107.15	171.54	202.23	203.31	218.96	219
Total Non-Current Liabilities+	290.48M	217.02M	250.93M	264.78M	352.94M	365.11M	341.57M	296.11M	301.12M	268.1M
Long-Term Debt	240.66M	166.9M	216.06M	228.87M	300.89M	311.92M	279.38M	240.59M	256.96M	229.83M
Capital Lease Obligations	0	0	0	0	17.57M	14.55M	28.07M	28.84M	22.95M	21.28M
Deferred Tax Liabilities	26.53M	31.42M	15.98M	18.07M	16.77M	16.99M	18.73M	13.95M	4.77M	0
Other Non-Current Liabilities	18.95M	18.71M	18.9M	14.44M	17.72M	21.64M	15.39M	12.72M	16.45M	16.98M
Total Liabilities	374.09M	303.33M	331.17M	391.32M	497.63M	508.01M	504.13M	495.55M	484.82M	443.57M
Total Debt+	245.03M	166.9M	216.06M	229.29M	328.41M	336.61M	320.59M	282.84M	295.59M	272.14M
Net Debt	239.57M	159.47M	213.91M	219.03M	288.82M	280.14M	244.28M	236.59M	252.73M	235.01M
Debt / Equity	1.31x	0.79x	0.92x	0.89x	1.12x	1.02x	0.68x	0.54x	0.46x	0.40x
Debt / EBITDA	-	3.25x	5.71x	4.66x	3.88x	4.53x	4.15x	3.97x	4.81x	3.18x
Net Debt / EBITDA	-	3.10x	5.65x	4.45x	3.42x	3.77x	3.16x	3.32x	4.11x	2.74x
Interest Coverage	-4.03x	3.20x	1.69x	1.84x	3.07x	3.33x	4.37x	3.44x	1.39x	3.41x
Total Equity+	187.33M	212.1M	235.58M	256.82M	292.8M	329.33M	474.6M	525.96M	636.09M	682.53M
Equity Growth %	-0.27%	0.13%	0.11%	0.09%	0.14%	0.12%	0.44%	0.11%	0.21%	0.07%
Book Value per Share	16.96	18.77	20.38	22.03	24.83	27.60	38.74	42.53	45.53	45.46
Total Shareholders' Equity	187.33M	212.1M	235.58M	256.82M	292.8M	329.33M	474.6M	525.96M	636.09M	682.53M
Common Stock	111K	112K	113K	114K	116K	117K	119K	121K	146K	148K
Retained Earnings	117.62M	141.29M	161.36M	180.36M	212.55M	241.73M	377.26M	406.05M	421.98M	453.48M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-5.6M	-6.08M	-6.12M	-7.36M	-8.27M	-9.6M	-7.03M	7.75M	7.77M	11.38M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	23.68M	43.27M	35.43M	46.24M	51.03M	12.61M	-565K	32.68M	31.07M	34.18M
Operating CF Margin %	0.04%	0.08%	0.06%	0.07%	0.07%	0.02%	-0%	0.05%	0.04%	0.04%
Operating CF Growth %	-0.56%	0.83%	-0.18%	0.3%	0.1%	-0.75%	-1.04%	58.84%	-0.05%	0.1%
Net Income	-73.28M	25.26M	20.08M	9.04M	32.46M	29.17M	135.54M	28.79M	15.93M	31.5M
Depreciation & Amortization	26.85M	22.86M	22.84M	25.3M	28.3M	28.85M	28.39M	31.42M	32.57M	33.44M
Stock-Based Compensation	3.5M	3.01M	4.67M	5.04M	7.16M	9.3M	11.21M	10.74M	15.04M	17.84M
Deferred Taxes	-30.71M	3.52M	-15.41M	2.04M	-1.83M	327K	1.77M	-9.39M	-9.83M	-7.45M
Other Non-Cash Items	100.28M	-24.94M	2.8M	19.06M	3.98M	12.76M	-130.13M	9.72M	7.04M	9.43M
Working Capital Changes	-2.96M	13.56M	450K	-14.23M	-19.04M	-67.8M	-47.34M	-38.6M	-29.68M	-50.57M
Change in Receivables	4.44M	3.22M	2.72M	7.5M	-17.63M	-38.48M	-34.07M	-46.07M	15.6M	-28.55M
Change in Inventory	20.98M	-5.18M	-533K	23.24M	-8.49M	-20.18M	-17.13M	-20.84M	-18.8M	2.32M
Change in Payables	-13.98M	15.05M	-4.01M	18.5M	11.62M	-19.71M	2.79M	24.22M	-18.42M	3.24M
Cash from Investing+	-13.48M	34.91M	-86.21M	-47.93M	-94.93M	-5.47M	57.75M	-19.24M	-133.5M	-13.91M
Capital Expenditures	-15.89M	-17M	-27.61M	-17.62M	-18.29M	-12.51M	-16.86M	-19.69M	-19.52M	-14.13M
CapEx % of Revenue	0.02%	0.03%	0.05%	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	2.41M	16K	1.2M	396K	3K	6.85M	144.09M	82K	404K	223K
Cash from Financing+	-50.37M	-76.2M	45.49M	9.81M	73.22M	9.74M	-37.34M	-43.51M	99.05M	-26M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.71M	2.29M	-2.61M	-5.09M	-3.61M	-607K	-4.05M	-3.89M	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	7.79M	26.27M	7.82M	28.62M	32.74M	101K	-17.43M	12.99M	11.54M	20.05M
FCF Margin %	0.01%	0.05%	0.01%	0.05%	0.05%	0%	-0.03%	0.02%	0.02%	0.03%
FCF Growth %	-0.78%	2.37%	-0.7%	2.66%	0.14%	-1%	-173.55%	1.75%	-0.11%	0.74%
FCF per Share	0.70	2.32	0.68	2.45	2.78	0.01	-1.42	1.05	0.83	1.34
FCF Conversion (FCF/Net Income)	-0.32x	1.71x	1.76x	5.12x	1.57x	0.43x	-0.00x	1.14x	1.95x	1.09x
Interest Paid	26.5M	6.88M	7.31M	11.57M	16.47M	11.86M	10.13M	10.98M	19.86M	14.01M
Taxes Paid	1.15M	9.78M	3.13M	316K	5.7M	3.81M	32.93M	3.83M	22.95M	12.88M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-33.02%	12.65%	8.97%	3.67%	11.81%	9.38%	33.72%	5.75%	2.74%	4.78%
Return on Invested Capital (ROIC)	-12.17%	5.37%	2.74%	3.88%	7.98%	5.73%	5.52%	4.03%	2.63%	4.34%
Gross Margin	15.13%	19.29%	18.42%	19.48%	21.11%	21.9%	22.07%	20.25%	21.56%	25.08%
Net Margin	-11%	4.59%	3.6%	1.44%	4.5%	4.64%	21%	4.04%	2.1%	4%
Debt / Equity	1.31x	0.79x	0.92x	0.89x	1.12x	1.02x	0.68x	0.54x	0.46x	0.40x
Interest Coverage	-4.03x	3.20x	1.69x	1.84x	3.07x	3.33x	4.37x	3.44x	1.39x	3.41x
FCF Conversion	-0.32x	1.71x	1.76x	5.12x	1.57x	0.43x	-0.00x	1.14x	1.95x	1.09x
Revenue Growth	-10.25%	-17.32%	1.37%	12.74%	14.58%	-12.78%	2.62%	10.4%	6.24%	3.9%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2023	2024
Commercial Aerospace	-	-	-	-	-	-	-	155.73M	309.29M	333.11M
Commercial Aerospace Growth	-	-	-	-	-	-	-	-	98.61%	7.70%
Industrial	-	-	-	-	-	-	-	35.83M	43.88M	33.49M
Industrial Growth	-	-	-	-	-	-	-	-	22.46%	-23.68%
Electronic Systems	-	-	-	-	214.79M	244.25M	308.68M	-	-	-
Electronic Systems Growth	-	-	-	-	-	13.72%	26.38%	-	-	-
Structural Systems	-	-	-	-	61.87M	79.56M	114.18M	-	-	-
Structural Systems Growth	-	-	-	-	-	28.58%	43.53%	-	-	-
Ducommun La Barge Technologies	422.09M	392.69M	304.18M	316.72M	-	-	-	-	-	-
Ducommun La Barge Technologies Growth	-	-6.96%	-22.54%	4.12%	-	-	-	-	-	-
Ducommun Aero Structures	319.96M	273.32M	246.47M	241.46M	-	-	-	-	-	-
Ducommun Aero Structures Growth	-	-14.58%	-9.83%	-2.03%	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Ducommun Incorporated (DCO) has a price-to-earnings (P/E) ratio of 54.2x. This suggests investors expect higher future growth.

Growth & Financials

Ducommun Incorporated (DCO) reported $806.2M in revenue for fiscal year 2024. This represents a 39% increase from $580.9M in 2011.

Ducommun Incorporated (DCO) grew revenue by 3.9% over the past year. Growth has been modest.

Ducommun Incorporated (DCO) reported a net loss of $34.6M for fiscal year 2024.

Dividend & Returns

Ducommun Incorporated (DCO) has a return on equity (ROE) of 4.8%. This is below average, suggesting room for improvement.

Ducommun Incorporated (DCO) generated $44.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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